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REGISTERED NUMBER: SC223869 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

David Fraser Limited

David Fraser Limited (Registered number: SC223869)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


David Fraser Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Dr D K S Fraser





SECRETARY: Mrs C J Fraser





REGISTERED OFFICE: Duneaves
3 Drumclog Avenue
Milngavie
Glasgow
G62 8NA





REGISTERED NUMBER: SC223869 (Scotland)





ACCOUNTANTS: Bell Barr & Company
Chartered Accountants
2 Stewart Street
Milngavie
Glasgow
G62 6BW

David Fraser Limited (Registered number: SC223869)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,586 3,256
2,586 3,256

CURRENT ASSETS
Stocks 600 600
Debtors 6 51,794 12,978
Cash at bank 22,619 42,155
75,013 55,733
CREDITORS
Amounts falling due within one year 7 55,778 35,063
NET CURRENT ASSETS 19,235 20,670
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,821

23,926

CREDITORS
Amounts falling due after more than one
year

8

(9,939

)

(17,903

)

PROVISIONS FOR LIABILITIES (621 ) (619 )
NET ASSETS 11,261 5,404

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 10,261 4,404
SHAREHOLDERS' FUNDS 11,261 5,404

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

David Fraser Limited (Registered number: SC223869)

Balance Sheet - continued
31 March 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 October 2024 and were signed by:





Dr D K S Fraser - Director


David Fraser Limited (Registered number: SC223869)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

David Fraser 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.

The director has reviewed the company's operating costs for the next twelve months, and the sources of funds available, and is satisfied that the company is a going concern.

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
Software licence and Intellectual Property purchased in the year to 31 March 2007 were amortised at 20% per annum on a straight line basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on 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.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

David Fraser Limited (Registered number: SC223869)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Cash at bank
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the account.

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 on the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 2,800
AMORTISATION
At 1 April 2023
and 31 March 2024 2,800
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

David Fraser Limited (Registered number: SC223869)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 477 2,199 21,948 24,624
Additions - 259 222 481
At 31 March 2024 477 2,458 22,170 25,105
DEPRECIATION
At 1 April 2023 422 1,955 18,991 21,368
Charge for year 11 101 1,039 1,151
At 31 March 2024 433 2,056 20,030 22,519
NET BOOK VALUE
At 31 March 2024 44 402 2,140 2,586
At 31 March 2023 55 244 2,957 3,256


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 50,759 11,998
Other debtors 1,035 980
51,794 12,978

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 8,000 8,000
Trade creditors 273 2,145
Taxation and social security 45,481 23,206
Other creditors 2,024 1,712
55,778 35,063

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 9,939 17,903