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Registration number: 13619222

Dallas Scott Davey Ltd

Filleted Financial Statements

for the Year Ended 31 December 2023

 

Dallas Scott Davey Ltd

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Dallas Scott Davey Ltd

(Registration number: 13619222)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Intangible assets

4

 

1,340

 

2,336

Tangible assets

5

 

770

 

1,190

   

2,110

 

3,526

Current assets

   

 

Debtors

6

62,091

 

100

 

Cash at bank and in hand

 

1,835

 

30,171

 

 

63,926

 

30,271

 

Creditors: Amounts falling due within one year

7

(464,112)

 

(261,564)

 

Net current liabilities

   

(400,186)

 

(231,293)

Net liabilities

   

(398,076)

 

(227,767)

Capital and reserves

   

 

Called up share capital

8

10,000

 

100

 

Retained earnings

(408,076)

 

(227,867)

 

Shareholders' deficit

   

(398,076)

 

(227,767)

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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................
P E O Staveley
Director

 

Dallas Scott Davey Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Dallas House
Low Moor
Bradford
West Yorkshire
BD12 0HF

These financial statements were authorised for issue by the Board on 25 September 2024.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

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.

The company's functional and presentation currency is pound sterling.

Disclosure of long or short period

The prior year financial statements were for the period 14 September 2021 to 31 December 2022 as a result of incorporation. The long period was to align the year end with fellow group companies.

Going concern

At the period end the company has current liabilities of £398,076. The company is dependent on the continued support of its parent undertaking and shareholders. On the basis that both parties have indicated that this support will continue, the directors have prepared the accounts on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 25 September 2024 was Mark Wilcock FCA, who signed for and on behalf of Watson Buckle Limited.

.........................................

Revenue recognition

Turnover represents commission and fees, which are taken to revenue in full at the later of the binding contract date and renewal or commencement date of the policy; and profit commission which is recognised on receipt.

 

Dallas Scott Davey Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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 and 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:

Asset class

Depreciation method and rate

Office equipment

33.33% straight line basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other intangible assets

33.33% straight line basis

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Dallas Scott Davey Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 4).

 

Dallas Scott Davey Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2023

3,000

3,000

At 31 December 2023

3,000

3,000

Amortisation

At 1 January 2023

664

664

Amortisation charge

996

996

At 31 December 2023

1,660

1,660

Carrying amount

At 31 December 2023

1,340

1,340

At 31 December 2022

2,336

2,336

5

Tangible assets

Computer Equipment
£

Total
£

Cost or valuation

At 1 January 2023

1,260

1,260

At 31 December 2023

1,260

1,260

Depreciation

At 1 January 2023

70

70

Charge for the year

420

420

At 31 December 2023

490

490

Carrying amount

At 31 December 2023

770

770

At 31 December 2022

1,190

1,190

 

Dallas Scott Davey Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

6

Debtors

Current

Note

2023
£

2022
£

Amounts owed by group undertakings

9

46,841

-

Prepayments

 

5,250

-

Other debtors

 

10,000

100

   

62,091

100

7

Creditors

2023
£

2022
£

Due within one year

Trade creditors

3,474

1,422

Amounts owed to group undertakings

450,000

250,043

Accruals and deferred income

10,638

10,099

464,112

261,564

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £0 (2022 - £1) each

-

-

100

100

A Ordinary shares of £1 (2022 - £0) each

7,000

7,000

-

-

B Ordinary shares of £1 (2022 - £0) each

1,500

1,500

-

-

C Ordinary shares of £1 (2022 - £0) each

1,500

1,500

-

-

 

10,000

10,000

100

100

The shares were redesignated during the year and a further 9,900 shares were issued, as shown above.

 

Dallas Scott Davey Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

9

Related party transactions

Income and receivables from related parties

2023

Parent
£

Key management
£

Amounts receivable from related party

7,000

3,000

2022

Parent
£

Key management
£

Amounts receivable from related party

70

30

Expenditure with and payables to related parties

2023

Parent
£

Amounts payable to related party

450,000

2022

Parent
£

Amounts payable to related party

250,000

10

Parent and ultimate parent undertaking

The company's immediate parent is T L Dallas Group Limited, incorporated in England and Wales.

  These financial statements are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ.