Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mrs C A Brown 07/04/2020 Mr D G Brown 07/04/2020 14 August 2024 The principal activity of the Company during the financial year was the design, delivery and erection of modular and portable buildings throughout the UK. SC658928 2024-03-31 SC658928 bus:Director1 2024-03-31 SC658928 bus:Director2 2024-03-31 SC658928 2023-03-31 SC658928 core:CurrentFinancialInstruments 2024-03-31 SC658928 core:CurrentFinancialInstruments 2023-03-31 SC658928 core:ShareCapital 2024-03-31 SC658928 core:ShareCapital 2023-03-31 SC658928 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC658928 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC658928 core:OtherPropertyPlantEquipment 2023-03-31 SC658928 core:OtherPropertyPlantEquipment 2024-03-31 SC658928 2022-03-31 SC658928 bus:OrdinaryShareClass1 2024-03-31 SC658928 core:KeyManagementPersonnel 2024-03-31 SC658928 core:KeyManagementPersonnel 2023-03-31 SC658928 2023-04-01 2024-03-31 SC658928 bus:FilletedAccounts 2023-04-01 2024-03-31 SC658928 bus:SmallEntities 2023-04-01 2024-03-31 SC658928 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC658928 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC658928 bus:Director1 2023-04-01 2024-03-31 SC658928 bus:Director2 2023-04-01 2024-03-31 SC658928 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-04-01 2024-03-31 SC658928 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 SC658928 2022-04-01 2023-03-31 SC658928 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 SC658928 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC658928 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC658928 core:KeyManagementPersonnel 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC658928 (Scotland)

DB MODULAR BUILDINGS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

DB MODULAR BUILDINGS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

DB MODULAR BUILDINGS LTD

BALANCE SHEET

AS AT 31 MARCH 2024
DB MODULAR BUILDINGS LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 46,394 59,619
46,394 59,619
Current assets
Stocks 4 133,914 148,258
Debtors 5 116,916 69,395
Cash at bank and in hand 6 98,007 119,621
348,837 337,274
Creditors: amounts falling due within one year 7 ( 75,642) ( 129,598)
Net current assets 273,195 207,676
Total assets less current liabilities 319,589 267,295
Provision for liabilities 8, 9 ( 11,599) ( 14,905)
Net assets 307,990 252,390
Capital and reserves
Called-up share capital 10 2 2
Profit and loss account 307,988 252,388
Total shareholders' funds 307,990 252,390

For the financial year ending 31 March 2024 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 DB Modular Buildings Ltd (registered number: SC658928) were approved and authorised for issue by the Board of Directors on 14 August 2024. They were signed on its behalf by:

Mr D G Brown
Director
DB MODULAR BUILDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
DB MODULAR BUILDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
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

DB Modular Buildings 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 Errol Airfield, Errol, Perth, PH2 7TB, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Revenue is recognised when the company has entitlement to the income in exchange for the provision of goods and services.

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.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings 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
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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, 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:

Plant and machinery etc. 4 - 5 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 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.

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 Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible 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).

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.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.

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.

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

Deferred tax provisions are recognised when the Company has a present obligation 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 67,803 67,803
Additions 2,165 2,165
Disposals ( 250) ( 250)
At 31 March 2024 69,718 69,718
Accumulated depreciation
At 01 April 2023 8,184 8,184
Charge for the financial year 15,161 15,161
Disposals ( 21) ( 21)
At 31 March 2024 23,324 23,324
Net book value
At 31 March 2024 46,394 46,394
At 31 March 2023 59,619 59,619

4. Stocks

2024 2023
£ £
Finished goods 133,914 148,258

5. Debtors

2024 2023
£ £
Trade debtors 115,314 48,848
Other debtors 1,602 20,547
116,916 69,395

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 98,007 119,621

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 14,947 18,536
Taxation and social security 56,640 34,903
Other creditors 4,055 76,159
75,642 129,598

8. Provision for liabilities

2024 2023
£ £
Deferred tax 11,599 14,905

9. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 14,905) ( 13,803)
Credited/(charged) to the Statement of Income and Retained Earnings 3,306 ( 1,102)
At the end of financial year ( 11,599) ( 14,905)

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

11. Related party transactions

Transactions with the entity’s directors (or members of its governing body)

Amounts owed to directors

2024 2023
£ £
Key Management Personnel 17 199

Advances were made to the director in the year totalling £840 and Repayments of £658, the loan is interest free. unsecured and no fixed terms of repayment.