22 February 2023 v2024.39.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPSC7597962023-02-222024-03-31SC7597962024-03-31SC759796core:WithinOneYear2024-03-31SC759796core:ShareCapital2024-03-31SC759796core:RetainedEarningsAccumulatedLosses2024-03-31SC759796bus:Director12023-02-222024-03-31SC759796bus:RegisteredOffice2023-02-222024-03-31SC759796core:NetGoodwill2023-02-222024-03-31SC759796core:PlantMachinery2023-02-222024-03-31SC759796core:OfficeEquipment2023-02-222024-03-31SC759796core:MotorVehicles2023-02-222024-03-31SC759796core:FurnitureFittingsToolsEquipment2023-02-222024-03-31SC759796core:NetGoodwill2024-03-31SC759796core:PlantMachinery2024-03-31SC75979612023-02-222024-03-31SC759796countries:Scotland2023-02-222024-03-31SC759796bus:AuditExemptWithAccountantsReport2023-02-222024-03-31SC759796bus:PrivateLimitedCompanyLtd2023-02-222024-03-31SC759796bus:SmallEntities2023-02-222024-03-31SC759796bus:FullAccounts2023-02-222024-03-31
Company registration number:
SC759796
David Shepherd Builder Ltd
Unaudited Filleted Financial Statements for the period ended
31 March 2024
David Shepherd Builder Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of David Shepherd Builder Ltd
Period 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
David Shepherd Builder Ltd
for the period ended
31 March 2024
which comprise the income statement, statement of financial position, statement of changes in equity and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
David Shepherd Builder Ltd
, as a body. Our work has been undertaken solely to prepare for your approval the
financial statements
of
David Shepherd Builder Ltd
and state those matters that we have agreed to state to the Board of Directors of
David Shepherd Builder Ltd
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
David Shepherd Builder Ltd
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
David Shepherd Builder 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
David Shepherd Builder Ltd
. You consider that
David Shepherd Builder Ltd
is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of David Shepherd Builder 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.
A G Smith & Co Ltd
Chartered Certified Accountants
Unit 8
Laceby Business Park
Laceby
North East Lincolnshire
DN37 7DP
United Kingdom
Date:
27 August 2024
David Shepherd Builder Ltd
Statement of Financial Position
31 March 2024
31 Mar 2024
Note£
Fixed assets  
Intangible assets 5
9,000
 
Tangible assets 6
71,524
 
80,524
 
Current assets  
Stocks
1,000
 
Debtors 7
10,522
 
Cash at bank and in hand
2,985
 
14,507
 
Creditors: amounts falling due within one year 8
(52,197
)
Net current liabilities
(37,690
)
Total assets less current liabilities 42,834  
Provisions for liabilities
(14,183
)
Net assets
28,651
 
Capital and reserves  
Called up share capital
100
 
Profit and loss account
28,551
 
Shareholders funds
28,651
 
For the period ending
31 March 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
27 August 2024
, and are signed on behalf of the board by:
D Shepherd
Director
Company registration number:
SC759796
David Shepherd Builder Ltd
Notes to the Financial Statements
Period ended
31 March 2024

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
65 James Street
,
Pittenweem
,
Anstruther
,
Fife
,
KY10 2QN
, Scotland.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% straight line
Office equipment
25% straight line
Motor vehicles
25% reducing balance
Fixtures, fittings and equipment
25% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

4 Average number of employees

The average number of persons employed by the company during the period was
3
.

5 Intangible assets

Goodwill
£
Cost  
At
22 February 2023
-  
Additions
10,000
 
At
31 March 2024
10,000
 
Amortisation  
At
22 February 2023
-  
Charge
1,000
 
At
31 March 2024
1,000
 
Carrying amount  
At
31 March 2024
9,000
 

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
22 February 2023
-  
Additions
94,467
 
Disposals
(7,977
)
At
31 March 2024
86,490
 
Depreciation  
At
22 February 2023
-  
Charge
15,933
 
Disposals
(967
)
At
31 March 2024
14,966
 
Carrying amount  
At
31 March 2024
71,524
 

7 Debtors

31 Mar 2024
£
Trade debtors
5,670
 
Other debtors
4,852
 
10,522
 

8 Creditors: amounts falling due within one year

31 Mar 2024
£
Trade creditors
1,416
 
Taxation and social security
14,354
 
Other creditors
36,427
 
52,197