Silverfin false false 31/10/2023 01/11/2022 31/10/2023 Steven Frew 05/07/2023 Michael Jordan 16/11/2021 Roderick MacLeod 16/11/2021 31 July 2024 The principal activity of the company continued to be that of engineering consultancy. SC379340 2023-10-31 SC379340 bus:Director1 2023-10-31 SC379340 bus:Director2 2023-10-31 SC379340 bus:Director3 2023-10-31 SC379340 2022-10-31 SC379340 core:CurrentFinancialInstruments 2023-10-31 SC379340 core:CurrentFinancialInstruments 2022-10-31 SC379340 core:Non-currentFinancialInstruments 2023-10-31 SC379340 core:Non-currentFinancialInstruments 2022-10-31 SC379340 core:ShareCapital 2023-10-31 SC379340 core:ShareCapital 2022-10-31 SC379340 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC379340 core:RetainedEarningsAccumulatedLosses 2022-10-31 SC379340 core:LandBuildings 2022-10-31 SC379340 core:OtherPropertyPlantEquipment 2022-10-31 SC379340 core:LandBuildings 2023-10-31 SC379340 core:OtherPropertyPlantEquipment 2023-10-31 SC379340 bus:OrdinaryShareClass1 2023-10-31 SC379340 2022-11-01 2023-10-31 SC379340 bus:FilletedAccounts 2022-11-01 2023-10-31 SC379340 bus:SmallEntities 2022-11-01 2023-10-31 SC379340 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 SC379340 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC379340 bus:Director1 2022-11-01 2023-10-31 SC379340 bus:Director2 2022-11-01 2023-10-31 SC379340 bus:Director3 2022-11-01 2023-10-31 SC379340 core:OtherPropertyPlantEquipment 2022-11-01 2023-10-31 SC379340 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-11-01 2023-10-31 SC379340 2021-11-01 2022-10-31 SC379340 core:LandBuildings 2022-11-01 2023-10-31 SC379340 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 SC379340 bus:OrdinaryShareClass1 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC379340 (Scotland)

DCF DESIGN CONSULTANTS LTD

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

DCF DESIGN CONSULTANTS LTD

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

DCF DESIGN CONSULTANTS LTD

COMPANY INFORMATION

For the financial year ended 31 October 2023
DCF DESIGN CONSULTANTS LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2023
DIRECTORS Steven Frew (Appointed 05 July 2023)
Michael Jordan
Roderick MacLeod
REGISTERED OFFICE 7 Queens Terrace
Aberdeen
AB10 1XL
Scotland
United Kingdom
BUSINESS ADDRESS G/1 Mcafferty House
99 Firhill Road
Glasgow
G20 7BE
COMPANY NUMBER SC379340 (Scotland)
CHARTERED ACCOUNTANTS Hall Morrice LLP
6 & 7 Queen's Terrace
Aberdeen
AB10 1XL
BANKERS Royal Bank of Scotland
339 Byers Road
Glasgow
G12 8QP
DCF DESIGN CONSULTANTS LTD

BALANCE SHEET

As at 31 October 2023
DCF DESIGN CONSULTANTS LTD

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 8,339 9,044
8,339 9,044
Current assets
Debtors 4 540,330 601,469
Cash at bank and in hand 12,499 35,484
552,829 636,953
Creditors: amounts falling due within one year 5 ( 57,667) ( 91,783)
Net current assets 495,162 545,170
Total assets less current liabilities 503,501 554,214
Creditors: amounts falling due after more than one year 6 ( 19,062) ( 28,333)
Provision for liabilities 0 ( 2,167)
Net assets 484,439 523,714
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 484,339 523,614
Total shareholder's funds 484,439 523,714

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of DCF Design Consultants Ltd (registered number: SC379340) were approved and authorised for issue by the Board of Directors on 31 July 2024. They were signed on its behalf by:

Steven Frew
Director
DCF DESIGN CONSULTANTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
DCF DESIGN CONSULTANTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

DCF Design Consultants Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the company's registered office is 7 Queens Terrace, Aberdeen, AB10 1XL, Scotland, United Kingdom. The principal place of business is G/1 Mcafferty House, 99 Firhill Road, Glasgow, G20 7BE.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least twelve months from the date of signing the financial statements. Thus the directors have continued to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 15 % reducing balance
3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including directors 9 7

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 November 2022 1,638 22,897 24,535
Additions 0 4,082 4,082
Disposals ( 1,638) 0 ( 1,638)
At 31 October 2023 0 26,979 26,979
Accumulated depreciation
At 01 November 2022 1,638 13,853 15,491
Charge for the financial year 0 4,787 4,787
Disposals ( 1,638) 0 ( 1,638)
At 31 October 2023 0 18,640 18,640
Net book value
At 31 October 2023 0 8,339 8,339
At 31 October 2022 0 9,044 9,044

4. Debtors

2023 2022
£ £
Trade debtors 86,702 132,855
Amounts owed by group undertakings 379,435 387,935
Other debtors 74,193 80,679
540,330 601,469

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,035 10,000
Trade creditors 0 11,627
Corporation tax 0 9,684
Other taxation and social security 39,235 49,256
Other creditors 8,397 11,216
57,667 91,783

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 19,062 28,333

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Ultimate controlling party

Parent Company:

Macleod & Jordan Consulting Engineers Ltd
7 Queens Terrace, Aberdeen, Scotland