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Registration number: 13456757

Danny Scroggins Holdings Limited
(formerly D S Miniature Railway Limited)

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Danny Scroggins Holdings Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Danny Scroggins Holdings Limited

(Registration number: 13456757)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

144,727

61,611

Current assets

 

Debtors

5

9,122

1,087

Cash at bank and in hand

 

2,790

72

 

11,912

1,159

Creditors: Amounts falling due within one year

6

(74,497)

(1,217)

Net current liabilities

 

(62,585)

(58)

Total assets less current liabilities

 

82,142

61,553

Creditors: Amounts falling due after more than one year

6

-

(69,814)

Provisions for liabilities

(20,321)

-

Net assets/(liabilities)

 

61,821

(8,261)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

61,820

(8,262)

Shareholders' funds/(deficit)

 

61,821

(8,261)

For the financial year ending 31 January 2024 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Danny Scroggins Holdings Limited

(Registration number: 13456757)
Balance Sheet as at 31 January 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 July 2024
 

.........................................
Mr D Scroggins
Director

 

Danny Scroggins Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as D S Miniature Railway Limited.

The address of its registered office is:
Suite 3 Cider Warehouse
Bridge Court
Totnes
Devon
TQ9 5DB
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises deferred tax.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Danny Scroggins Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Asset class

Depreciation method and rate

Plant and machinery

10% & 25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Danny Scroggins Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2023

76,997

76,997

Additions

99,543

99,543

At 31 January 2024

176,540

176,540

Depreciation

At 1 February 2023

15,386

15,386

Charge for the year

16,427

16,427

At 31 January 2024

31,813

31,813

Carrying amount

At 31 January 2024

144,727

144,727

At 31 January 2023

61,611

61,611

5

Debtors

2024
£

2023
£

Other debtors

6,850

-

Prepayments

2,272

1,087

9,122

1,087

 

Danny Scroggins Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

72,752

-

Taxation and social security

-

112

Other creditors

1,745

1,105

74,497

1,217

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

-

69,814

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

-

69,814

8

Related party transactions

Transactions with the director

2024

At 1 February 2023
£

Advances to director
£

At 31 January 2024
£

Mr D Scroggins

-

1,751

1,751

       
     

 

Other transactions with the director

As at 31 January 2023 the company owed to the director £69,814.