2 false false false false false false false false false false true false false false false true false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,700,000 1,700,000 1,700,000 xbrli:pure xbrli:shares iso4217:GBP SC392659 2023-03-01 2024-02-29 SC392659 2024-02-29 SC392659 2023-02-28 SC392659 2022-03-01 2023-02-28 SC392659 2023-02-28 SC392659 2022-02-28 SC392659 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 SC392659 core:PlantMachinery 2023-03-01 2024-02-29 SC392659 core:MotorVehicles 2023-03-01 2024-02-29 SC392659 bus:RegisteredOffice 2023-03-01 2024-02-29 SC392659 bus:LeadAgentIfApplicable 2023-03-01 2024-02-29 SC392659 bus:Director1 2023-03-01 2024-02-29 SC392659 bus:Director2 2023-03-01 2024-02-29 SC392659 core:LandBuildings 2023-02-28 SC392659 core:PlantMachinery 2023-02-28 SC392659 core:MotorVehicles 2023-02-28 SC392659 core:LandBuildings 2024-02-29 SC392659 core:PlantMachinery 2024-02-29 SC392659 core:MotorVehicles 2024-02-29 SC392659 core:LandBuildings 2023-03-01 2024-02-29 SC392659 core:WithinOneYear 2024-02-29 SC392659 core:WithinOneYear 2023-02-28 SC392659 core:ShareCapital 2024-02-29 SC392659 core:ShareCapital 2023-02-28 SC392659 core:RetainedEarningsAccumulatedLosses 2024-02-29 SC392659 core:RetainedEarningsAccumulatedLosses 2023-02-28 SC392659 core:CostValuation core:Non-currentFinancialInstruments 2024-02-29 SC392659 core:Non-currentFinancialInstruments 2024-02-29 SC392659 core:Non-currentFinancialInstruments 2023-02-28 SC392659 core:LandBuildings 2023-02-28 SC392659 core:PlantMachinery 2023-02-28 SC392659 core:MotorVehicles 2023-02-28 SC392659 bus:SmallEntities 2023-03-01 2024-02-29 SC392659 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 SC392659 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC392659 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC392659 bus:FullAccounts 2023-03-01 2024-02-29 SC392659 core:OfficeEquipment 2023-03-01 2024-02-29 SC392659 core:OfficeEquipment 2023-02-28 SC392659 core:OfficeEquipment 2024-02-29
COMPANY REGISTRATION NUMBER: SC392659
DIPPLE SERVICES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
29 February 2024
DIPPLE SERVICES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 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
DIPPLE SERVICES LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
Mr Leslie Stuart Shand
Mrs Alison Shand
Registered office
26-30 Marine Place
Buckie
Moray
AB56 1UT
Accountants
Ritsons
Chartered Accountants
26-30 Marine Place
Buckie
Moray
AB56 1UT
DIPPLE SERVICES LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DIPPLE SERVICES LIMITED
YEAR ENDED 29 FEBRUARY 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 Dipple Services Limited for the year ended 29 February 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 Dipple Services Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Dipple Services Limited 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 Dipple Services Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Dipple Services Limited 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 Dipple Services Limited. You consider that Dipple Services Limited 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 Dipple Services Limited. 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
16 October 2024
DIPPLE SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
29 February 2024
2024
2023
Note
£
£
FIXED ASSETS
Tangible assets
5
758,464
692,492
Investments
6
1,700,000
------------
---------
2,458,464
692,492
CURRENT ASSETS
Stocks
10,600
10,600
Debtors
7
113,436
666,850
Cash at bank and in hand
108,190
1,427,527
---------
------------
232,226
2,104,977
CREDITORS: amounts falling due within one year
8
217,079
498,031
---------
------------
NET CURRENT ASSETS
15,147
1,606,946
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
2,473,611
2,299,438
PROVISIONS
Taxation including deferred tax
81,904
47,767
------------
------------
NET ASSETS
2,391,707
2,251,671
------------
------------
CAPITAL AND RESERVES
Called up share capital
200
200
Profit and loss account
2,391,507
2,251,471
------------
------------
SHAREHOLDERS FUNDS
2,391,707
2,251,671
------------
------------
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 29 February 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 .
DIPPLE SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 16 October 2024 , and are signed on behalf of the board by:
Mr Leslie Stuart Shand
Director
Company registration number: SC392659
DIPPLE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 26-30 Marine Place, Buckie, Moray, AB56 1UT.
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 profit and loss account 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 fixed assets are initially recorded at cost less depreciation and impairment.
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 & Machinery
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Freehold property
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 March 2023
511,991
508,019
34,117
791
1,054,918
Additions
134,373
134,373
---------
---------
--------
----
------------
At 29 February 2024
511,991
642,392
34,117
791
1,189,291
---------
---------
--------
----
------------
Depreciation
At 1 March 2023
70,903
259,754
31,252
517
362,426
Charge for the year
10,240
57,403
717
41
68,401
---------
---------
--------
----
------------
At 29 February 2024
81,143
317,157
31,969
558
430,827
---------
---------
--------
----
------------
Carrying amount
At 29 February 2024
430,848
325,235
2,148
233
758,464
---------
---------
--------
----
------------
At 28 February 2023
441,088
248,265
2,865
274
692,492
---------
---------
--------
----
------------
6. Investments
Other investments other than loans
£
Cost
At 1 March 2023 and 29 February 2024
1,700,000
------------
Impairment
At 1 March 2023 and 29 February 2024
------------
Carrying amount
At 29 February 2024
1,700,000
------------
At 28 February 2023
1,700,000
------------
7. Debtors
2024
2023
£
£
Trade debtors
111,497
665,061
Other debtors
1,939
1,789
---------
---------
113,436
666,850
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
78,993
93,875
Corporation tax
33,818
200,812
Social security and other taxes
242
74,584
Other creditors
104,026
128,760
---------
---------
217,079
498,031
---------
---------
9. Related party transactions
At 29 February 2024, the company owed the directors £102,026 (2023: £126,760) by way of a director's loan account. During the year the company paid dividends of £2,000 (2023: £4,000) to the directors.