0 31/12/2023 2023-12-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-08-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP SC130202 2022-08-01 2023-12-31 SC130202 2023-12-31 SC130202 2022-07-31 SC130202 2021-08-01 2022-07-31 SC130202 2022-07-31 SC130202 2021-07-31 SC130202 bus:RegisteredOffice 2022-08-01 2023-12-31 SC130202 bus:LeadAgentIfApplicable 2022-08-01 2023-12-31 SC130202 bus:Director1 2022-08-01 2023-12-31 SC130202 core:WithinOneYear 2023-12-31 SC130202 core:WithinOneYear 2022-07-31 SC130202 core:ShareCapital 2023-12-31 SC130202 core:ShareCapital 2022-07-31 SC130202 core:RevaluationReserve 2023-12-31 SC130202 core:RevaluationReserve 2022-07-31 SC130202 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC130202 core:RetainedEarningsAccumulatedLosses 2022-07-31 SC130202 bus:OrdinaryShareClass1 core:ShareCapital 2023-12-31 SC130202 bus:OrdinaryShareClass1 core:ShareCapital 2022-07-31 SC130202 bus:SmallEntities 2022-08-01 2023-12-31 SC130202 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-12-31 SC130202 bus:FullAccounts 2022-08-01 2023-12-31 SC130202 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-12-31 SC130202 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-12-31 SC130202 bus:OrdinaryShareClass1 2022-08-01 2023-12-31
Company registration number: SC130202
Dunwilco (242) Ltd
Unaudited filleted financial statements
31 December 2023
Dickson Middleton
Chartered Accountants
www.dicksonmiddleton.co.uk
A member firm of the UK 200 Group
Dunwilco (242) Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Dunwilco (242) Ltd
Directors and other information
Director Moira Simpson
Company number SC130202
Registered office Blackwood House
Union Grove Lane
Aberdeen
AB10 6XU
Accountants Dickson Middleton
Chartered Accountants
20 Barnton Street
Stirling
FK8 1NE
Dunwilco (242) Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of Dunwilco (242) Ltd
Period ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dunwilco (242) Ltd for the period ended 31 December 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the director of Dunwilco (242) Ltd, as a body, in accordance with the terms of our engagement letter dated 25 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Dunwilco (242) Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dunwilco (242) Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Dunwilco (242) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dunwilco (242) Ltd. You consider that Dunwilco (242) Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Dunwilco (242) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Dickson Middleton
Chartered Accountants
20 Barnton Street
Stirling
FK8 1NE
18 June 2024
Dunwilco (242) Ltd
Statement of financial position
31 December 2023
31/12/23 31/07/22
Note £ £ £ £
Current assets
Debtors 4 732,409 769,290
Cash at bank and in hand - 112,879
_______ _______
732,409 882,169
Creditors: amounts falling due
within one year 5 ( 102,024) ( 260,119)
_______ _______
Net current assets 630,385 622,050
_______ _______
Total assets less current liabilities 630,385 622,050
_______ _______
Net assets 630,385 622,050
_______ _______
Capital and reserves
Called up share capital 6 100 100
Revaluation reserve 212,414 212,414
Profit and loss account 417,871 409,536
_______ _______
Shareholders funds 630,385 622,050
_______ _______
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 18 June 2024 , and are signed on behalf of the board by:
Moira Simpson
Director
Company registration number: SC130202
Dunwilco (242) Ltd
Notes to the financial statements
Period ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Blackwood House, Union Grove Lane, Aberdeen, AB10 6XU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
It is the intention of the Directors to wind the Company down in an orderly manner post the balance sheet date as the only remaining property has now been sold. These financial statements are essentially the same if prepared on a going concern or wind up basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - No depreciation is provided on investment property
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4. Debtors
31/12/23 31/07/22
£ £
Other debtors 732,409 769,290
_______ _______
5. Creditors: amounts falling due within one year
31/12/23 31/07/22
£ £
Other Loans 6,836 16,000
Corporation tax 1,955 13,677
Social security and other taxes - 120,000
Other creditors 93,233 110,442
_______ _______
102,024 260,119
_______ _______
6. Called up share capital
Authorised share capital
31/12/23 31/07/22
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
Issued, called up and fully paid
31/12/23 31/07/22
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
7. Controlling party
Richard Simpson is deemed to be the ultimate controlling party.