2023-01-012023-12-312023-12-31falseSC716565DB LARKHALL 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DB LARKHALL LIMITED

Registered Number
SC716565
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2023

DB LARKHALL LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

DUNSMORE, Graham
DUNSMORE, James

Registered Address

4d Auchingramont Road
Hamilton
ML3 6JT

Registered Number

SC716565 (Scotland)
DB LARKHALL LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets38,0009,000
Tangible assets419,24525,660
Investment property564,33364,333
91,57898,993
Current assets
Debtors65,000-
Cash at bank and on hand8,06119,546
13,06119,546
Creditors amounts falling due within one year7(85,002)(94,699)
Net current assets (liabilities)(71,941)(75,153)
Total assets less current liabilities19,63723,840
Provisions for liabilities8(3,657)-
Net assets15,98023,840
Capital and reserves
Called up share capital22
Profit and loss account15,97823,838
Shareholders' funds15,98023,840
The financial statements were approved and authorised for issue by the Board of Directors on 26 September 2024, and are signed on its behalf by:
DUNSMORE, Graham
Director
Registered Company No. SC716565
DB LARKHALL LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the service at the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment5
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20232022
Average number of employees during the year11
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 January 2310,00010,000
At 31 December 2310,00010,000
Amortisation and impairment
At 01 January 231,0001,000
Charge for year1,0001,000
At 31 December 232,0002,000
Net book value
At 31 December 238,0008,000
At 31 December 229,0009,000
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 2332,07532,075
At 31 December 2332,07532,075
Depreciation and impairment
At 01 January 236,4156,415
Charge for year6,4156,415
At 31 December 2312,83012,830
Net book value
At 31 December 2319,24519,245
At 31 December 2225,66025,660
5.Investment property

£
Fair value at 01 January 2364,333
At 31 December 2364,333
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables5,000-
Total5,000-
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables83663
Amounts owed to related parties81,88686,012
Taxation and social security7536,635
Accrued liabilities and deferred income2,2801,389
Total85,00294,699
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)3,657-
Total3,657-
9.Related party transactions
During the year, the company received an interest free loan from the directors amounting to £82,155 ( 2022: £86,012).