Registered number
SC712907
Donaldson James Ltd
Unaudited Filleted Accounts
31 October 2023
Donaldson James Ltd
Registered number: SC712907
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 1,724 4,799
Cash at bank and in hand 1 1
1,725 4,800
Creditors: amounts falling due within one year 4 (1,003) (2,138)
Net current assets 722 2,662
Net assets 722 2,662
Capital and reserves
Called up share capital 1 1
Profit and loss account 721 2,661
Shareholder's funds 722 2,662
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Gary Donaldson
Director
Approved by the board on 3 July 2024
Donaldson James Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going Concern
The financial statements have been prepared on the going concern basis. The director has considered a period of twelve months from the date of signature of the accounts and has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. It is therefore considered appropriate to continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held with banks.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2023 2022
£ £
Other debtors 1,724 4,799
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 163 240
Taxation and social security costs - 1,238
Other creditors 840 660
1,003 2,138
5 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Gary Donaldson
Loan to director 4,752 - (3,028) 1,724
4,752 - (3,028) 1,724
6 Other information
Donaldson James Ltd is a private company limited by shares and incorporated in Scotland. The company changed its name from Donaldson IT Security Recruitment Ltd on 14 January 2022. Its registered office is:
5 South Charlotte Street
Edinburgh
EH2 4AN
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