6 false false false false false false false false false false true false false false false true false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC319375 2023-04-01 2024-03-31 SC319375 2024-03-31 SC319375 2023-03-31 SC319375 2022-04-01 2023-03-31 SC319375 2023-03-31 SC319375 2022-03-31 SC319375 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC319375 core:PlantMachinery 2023-04-01 2024-03-31 SC319375 core:FurnitureFittings 2023-04-01 2024-03-31 SC319375 core:MotorVehicles 2023-04-01 2024-03-31 SC319375 bus:RegisteredOffice 2023-04-01 2024-03-31 SC319375 bus:LeadAgentIfApplicable 2023-04-01 2024-03-31 SC319375 bus:Director1 2023-04-01 2024-03-31 SC319375 bus:Director2 2023-04-01 2024-03-31 SC319375 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 SC319375 core:PlantMachinery 2023-03-31 SC319375 core:FurnitureFittings 2023-03-31 SC319375 core:MotorVehicles 2023-03-31 SC319375 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 SC319375 core:PlantMachinery 2024-03-31 SC319375 core:FurnitureFittings 2024-03-31 SC319375 core:WithinOneYear 2024-03-31 SC319375 core:WithinOneYear 2023-03-31 SC319375 core:AfterOneYear 2024-03-31 SC319375 core:AfterOneYear 2023-03-31 SC319375 core:ShareCapital 2024-03-31 SC319375 core:ShareCapital 2023-03-31 SC319375 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC319375 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC319375 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 SC319375 core:PlantMachinery 2023-03-31 SC319375 core:FurnitureFittings 2023-03-31 SC319375 core:MotorVehicles 2023-03-31 SC319375 bus:SmallEntities 2023-04-01 2024-03-31 SC319375 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC319375 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC319375 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC319375 bus:FullAccounts 2023-04-01 2024-03-31 SC319375 core:OfficeEquipment 2023-04-01 2024-03-31 SC319375 core:OfficeEquipment 2023-03-31 SC319375 core:OfficeEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: SC319375
DALLAS DESIGNS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
DALLAS DESIGNS LTD
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
Contents
Page
Officers and professional advisers
1
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
DALLAS DESIGNS LTD
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
Ms A L Mortimer
Mr R J Dodsworth
Registered office
8-10 Linkwood Way
Linkwood Industrial Estate
Elgin
Scotland
IV30 1HY
Accountants
Ritsons
Chartered Accountants
26-30 Marine Place
Buckie
Moray
AB56 1UT
DALLAS DESIGNS LTD
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DALLAS DESIGNS LTD
YEAR ENDED 31 MARCH 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dallas Designs Ltd for the year ended 31 March 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Dallas Designs Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Dallas Designs Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dallas Designs Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Dallas Designs Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dallas Designs Ltd. You consider that Dallas Designs Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Dallas Designs Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ritsons Chartered Accountants
26-30 Marine Place Buckie Moray AB56 1UT
2 October 2024
DALLAS DESIGNS LTD
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
FIXED ASSETS
Tangible assets
5
189,622
197,229
CURRENT ASSETS
Stocks
2,950
3,000
Debtors
6
7,018
9,181
Cash at bank and in hand
6,959
8,580
--------
--------
16,927
20,761
CREDITORS: amounts falling due within one year
7
59,736
60,578
--------
--------
NET CURRENT LIABILITIES
42,809
39,817
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
146,813
157,412
CREDITORS: amounts falling due after more than one year
8
88,640
100,305
PROVISIONS
Taxation including deferred tax
3,518
11,326
---------
---------
NET ASSETS
54,655
45,781
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
54,555
45,681
--------
--------
SHAREHOLDERS FUNDS
54,655
45,781
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DALLAS DESIGNS LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 2 October 2024 , and are signed on behalf of the board by:
Ms A L Mortimer
Director
Company registration number: SC319375
DALLAS DESIGNS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 8-10 Linkwood Way, Linkwood Industrial Estate, Elgin, IV30 1HY, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
The turnover shown in the detailed income statement represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023
206,137
57,531
12,515
6,000
10,242
292,425
Additions
583
583
Disposals
( 6,000)
( 6,000)
---------
--------
--------
-------
--------
---------
At 31 Mar 2024
206,137
57,531
12,515
10,825
287,008
---------
--------
--------
-------
--------
---------
Depreciation
At 1 Apr 2023
30,910
45,683
6,114
5,201
7,288
95,196
Charge for the year
4,123
1,777
961
530
7,391
Disposals
( 5,201)
( 5,201)
---------
--------
--------
-------
--------
---------
At 31 Mar 2024
35,033
47,460
7,075
7,818
97,386
---------
--------
--------
-------
--------
---------
Carrying amount
At 31 Mar 2024
171,104
10,071
5,440
3,007
189,622
---------
--------
--------
-------
--------
---------
At 31 Mar 2023
175,227
11,848
6,401
799
2,954
197,229
---------
--------
--------
-------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
2,626
8,845
Other debtors
4,392
336
-------
-------
7,018
9,181
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
28,039
19,869
Trade creditors
16,112
23,038
Corporation tax
4,483
5,764
Social security and other taxes
8,212
9,017
Other creditors
2,890
2,890
--------
--------
59,736
60,578
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
88,640
100,305
--------
---------
9. Related party transactions
At 31 March 2024, the company owed the director £685 (2023: £685) by way of a director's loan account. During the year the company paid dividends of £10,439 (2023: £32,000) to the directors.