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REGISTERED NUMBER: SC212568 (Scotland)














Unaudited Financial Statements

for the Year Ended 30 November 2023

for

D&G PRECISION ENGINEERING LIMITED

D&G PRECISION ENGINEERING LIMITED (Registered number: SC212568)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 6

D&G PRECISION ENGINEERING LIMITED

Company Information
for the Year Ended 30 November 2023







DIRECTOR: S GRIFFIN





REGISTERED OFFICE: 1-3 HAGMILL ROAD
COATBRIDGE
NORTH LANARKSHIRE
ML5 4XD





REGISTERED NUMBER: SC212568 (Scotland)





ACCOUNTANTS: Gordon Ferguson & Co Ltd
76 Hamilton Road
Motherwell
Lanarkshire
ML1 3BY

D&G PRECISION ENGINEERING LIMITED (Registered number: SC212568)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 148,020 103,298
148,020 103,298

CURRENT ASSETS
Stocks 42,671 37,387
Debtors 6 234,471 238,703
Cash at bank and in hand 268,658 3,722
545,800 279,812
CREDITORS
Amounts falling due within one year 7 284,024 219,899
NET CURRENT ASSETS 261,776 59,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

409,796

163,211

CREDITORS
Amounts falling due after more than one
year

8

99,210

81,178
NET ASSETS 310,586 82,033

CAPITAL AND RESERVES
Called up share capital 60,099 60,099
Retained earnings 250,487 21,934
SHAREHOLDERS' FUNDS 310,586 82,033

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 18 June 2024 and were signed by:





S GRIFFIN - Director


D&G PRECISION ENGINEERING LIMITED (Registered number: SC212568)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

D&G PRECISION ENGINEERING 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

D&G PRECISION ENGINEERING LIMITED (Registered number: SC212568)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2022
and 30 November 2023 38,555
AMORTISATION
At 1 December 2022
and 30 November 2023 38,555
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 535,058
Additions 83,689
At 30 November 2023 618,747
DEPRECIATION
At 1 December 2022 431,760
Charge for year 38,967
At 30 November 2023 470,727
NET BOOK VALUE
At 30 November 2023 148,020
At 30 November 2022 103,298

D&G PRECISION ENGINEERING LIMITED (Registered number: SC212568)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2022 111,420
Additions 83,689
Transfer to ownership (45,414 )
At 30 November 2023 149,695
DEPRECIATION
At 1 December 2022 50,296
Charge for year 28,931
Transfer to ownership (31,045 )
At 30 November 2023 48,182
NET BOOK VALUE
At 30 November 2023 101,513
At 30 November 2022 61,124

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 231,323 231,992
Other debtors 3,148 6,711
234,471 238,703

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 12,000 12,000
Hire purchase contracts 32,579 21,924
Trade creditors 43,019 39,893
Taxation and social security 119,270 61,135
Other creditors 77,156 84,947
284,024 219,899

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 23,000 35,000
Hire purchase contracts 76,210 46,178
99,210 81,178

D&G PRECISION ENGINEERING LIMITED

Report of the Accountants to the Director of
D&G PRECISION ENGINEERING LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 November 2023 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Gordon Ferguson & Co Ltd
76 Hamilton Road
Motherwell
Lanarkshire
ML1 3BY


18 June 2024