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REGISTERED NUMBER: SC142689 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

D. Welsh Builders Limited

D. Welsh Builders Limited (Registered number: SC142689)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D. Welsh Builders Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Ms Frances Gillian Paton
Ms Susan Henderson Welsh
Mr Duncan James Welsh





REGISTERED OFFICE: 1 Neilston Road
Uplawmoor
East Renfrewshire
Glasgow
G78 4AB





REGISTERED NUMBER: SC142689 (Scotland)





ACCOUNTANTS: Accountants Plus
Chartered Certified Accountants
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

D. Welsh Builders Limited (Registered number: SC142689)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 108,433 124,398

CURRENT ASSETS
Stocks 18,066 30,994
Debtors 5 51,931 9,175
Cash at bank and in hand 357,336 375,068
427,333 415,237
CREDITORS
Amounts falling due within one year 6 202,574 203,105
NET CURRENT ASSETS 224,759 212,132
TOTAL ASSETS LESS CURRENT
LIABILITIES

333,192

336,530

CREDITORS
Amounts falling due after more than
one year

7

(13,846

)

-

PROVISIONS FOR LIABILITIES (27,108 ) (19,699 )
NET ASSETS 292,238 316,831

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings 262,238 286,831
292,238 316,831

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

D. Welsh Builders Limited (Registered number: SC142689)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by:





Mr Duncan James Welsh - Director


D. Welsh Builders Limited (Registered number: SC142689)

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

1. STATUTORY INFORMATION

D. Welsh Builders 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

D. Welsh Builders Limited (Registered number: SC142689)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and bank balances
Cash and bank balances are measured at the transaction price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

D. Welsh Builders Limited (Registered number: SC142689)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2023 60,000 41,283 23,664 240,142 365,089
Additions - 43,095 - 53,970 97,065
Disposals (60,000 ) - - (50,490 ) (110,490 )
At 31 July 2024 - 84,378 23,664 243,622 351,664
DEPRECIATION
At 1 August 2023 14,398 40,029 21,117 165,147 240,691
Charge for year - 9,051 773 42,457 52,281
Eliminated on disposal (14,398 ) - - (35,343 ) (49,741 )
At 31 July 2024 - 49,080 21,890 172,261 243,231
NET BOOK VALUE
At 31 July 2024 - 35,298 1,774 71,361 108,433
At 31 July 2023 45,602 1,254 2,547 74,995 124,398

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 43,095
At 31 July 2024 43,095
DEPRECIATION
Charge for year 8,619
At 31 July 2024 8,619
NET BOOK VALUE
At 31 July 2024 34,476

D. Welsh Builders Limited (Registered number: SC142689)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 50,724 7,968
Prepayments and accrued income 1,207 1,207
51,931 9,175

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 16,330 -
Trade creditors 71,287 66,831
Corporation tax 20,725 38,545
Social security and other taxes 8,073 6,547
VAT 32,581 39,365
Other creditors 3,302 2,144
Accrued expenses 50,276 49,673
202,574 203,105

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 13,846 -

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Hire purchase contracts 30,176 -

Hire purchase contracts are secured over the assets to which they relate.