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REGISTERED NUMBER: SC126487 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

D L Clarkson Limited

D L Clarkson Limited (Registered number: SC126487)






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


D L Clarkson Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B R L Clarkson
Mrs M Clarkson





REGISTERED OFFICE: 1-21 Swinton Crescent
Baillieston
Glasgow
G69 6AN





REGISTERED NUMBER: SC126487 (Scotland)





ACCOUNTANTS: Advantage Accounting (Scotland) Ltd
Pavilion 2
Finnieston Business Park
Minerva Way
Glasgow
G3 8AU

D L Clarkson Limited (Registered number: SC126487)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 820,881 688,084

CURRENT ASSETS
Stocks 540,325 697,483
Debtors 5 128,555 78,753
Cash at bank 369,213 202,223
1,038,093 978,459
CREDITORS
Amounts falling due within one year 6 462,739 425,966
NET CURRENT ASSETS 575,354 552,493
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,396,235

1,240,577

CREDITORS
Amounts falling due after more than one
year

7

(153,448

)

(198,594

)

PROVISIONS FOR LIABILITIES (195,279 ) (128,573 )
NET ASSETS 1,047,508 913,410

CAPITAL AND RESERVES
Called up share capital 20 20
Capital redemption reserve 65,080 65,080
Retained earnings 982,408 848,310
SHAREHOLDERS' FUNDS 1,047,508 913,410

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 directors acknowledge their 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.

D L Clarkson Limited (Registered number: SC126487)

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 Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:




B R L Clarkson - Director



Mrs M Clarkson - Director


D L Clarkson Limited (Registered number: SC126487)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

D L Clarkson 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 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2.5% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance, 25% on cost and 15% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.


D L Clarkson Limited (Registered number: SC126487)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

D L Clarkson Limited (Registered number: SC126487)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 21,510 1,139,986 1,161,496
Additions - 571,373 571,373
Disposals - (389,018 ) (389,018 )
At 31 March 2024 21,510 1,322,341 1,343,851
DEPRECIATION
At 1 April 2023 21,510 451,902 473,412
Charge for year - 255,201 255,201
Eliminated on disposal - (205,643 ) (205,643 )
At 31 March 2024 21,510 501,460 522,970
NET BOOK VALUE
At 31 March 2024 - 820,881 820,881
At 31 March 2023 - 688,084 688,084

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 15,574 39,413
Other debtors 112,981 39,340
128,555 78,753

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 57,473 116,735
Trade creditors 58,415 103,146
Taxation and social security 83,526 51,291
Other creditors 253,325 144,794
462,739 425,966

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 11,667 21,667
Hire purchase contracts 141,781 176,927
153,448 198,594

D L Clarkson Limited (Registered number: SC126487)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 199,254 293,662