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REGISTERED NUMBER: SC135749 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

DEVINE & FITZSIMONS LIMITED

DEVINE & FITZSIMONS LIMITED (REGISTERED NUMBER: SC135749)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DEVINE & FITZSIMONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: R E McDonald





REGISTERED OFFICE: Optics House
Seath Road, Rutherglen
Glasgow
G73 1RW





REGISTERED NUMBER: SC135749 (Scotland)





ACCOUNTANTS: McDaid & Partners
Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG

DEVINE & FITZSIMONS LIMITED (REGISTERED NUMBER: SC135749)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,501 5,999

CURRENT ASSETS
Stocks 13,603 14,773
Debtors 5 74,873 19,994
Cash at bank and in hand 27,717 85,893
116,193 120,660
CREDITORS
Amounts falling due within one year 6 36,805 56,358
NET CURRENT ASSETS 79,388 64,302
TOTAL ASSETS LESS CURRENT
LIABILITIES

83,889

70,301

CREDITORS
Amounts falling due after more than one
year

7

(12,706

)

(22,126

)

PROVISIONS FOR LIABILITIES (901 ) (1,140 )
NET ASSETS 70,282 47,035

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 70,082 46,835
SHAREHOLDERS' FUNDS 70,282 47,035

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DEVINE & FITZSIMONS LIMITED (REGISTERED NUMBER: SC135749)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 August 2024 and were signed by:





R E McDonald - Director


DEVINE & FITZSIMONS LIMITED (REGISTERED NUMBER: SC135749)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Devine & Fitzsimons Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 25% on reducing balance
Fixtures & fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

DEVINE & FITZSIMONS LIMITED (REGISTERED NUMBER: SC135749)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Basic financial instruments
Trade debtors
Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors
Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Cash
Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Government grants
Government grants are eligible for recognition within the financial statements once they become receivable

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant & Fixtures
machinery & fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 34,555 11,427 45,982
DEPRECIATION
At 1 April 2023 28,667 11,316 39,983
Charge for year 1,472 26 1,498
At 31 March 2024 30,139 11,342 41,481
NET BOOK VALUE
At 31 March 2024 4,416 85 4,501
At 31 March 2023 5,888 111 5,999

DEVINE & FITZSIMONS LIMITED (REGISTERED NUMBER: SC135749)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 8,713 19,418
Other debtors 66,160 576
74,873 19,994

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 5,829 21,226
Taxation and social security 8,750 10,959
Other creditors 22,226 24,173
36,805 56,358

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other creditors 12,706 22,126

8. SECURED DEBTS

The Royal Bank of Scotland PLC hold a bond and floating charge over all property and assets of the company.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
R E McDonald
Balance outstanding at start of year 3,300 473
Amounts advanced 1,283 3,300
Amounts repaid (3,300 ) (473 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,283 3,300