2022-10-012023-09-302023-09-30falseSC256987DOCHERTY & CO. FINANCIAL SERVICES 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DOCHERTY & CO. FINANCIAL SERVICES LIMITED

Registered Number
SC256987
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2023

DOCHERTY & CO. FINANCIAL SERVICES LIMITED
Company Information
for the year from 1 October 2022 to 30 September 2023

Director

J D Docherty

Company Secretary

Mrs A Docherty

Registered Address

21 Netherburn Avenue
Houston
Renfrewshire
PA6 7NF

Registered Number

SC256987 (Scotland)
DOCHERTY & CO. FINANCIAL SERVICES LIMITED
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets32,5003,500
Tangible assets4101,355101,400
103,855104,900
Current assets
Debtors5140,78086,711
Cash at bank and on hand53,5581,007
194,33887,718
Creditors amounts falling due within one year6(46,980)(22,267)
Net current assets (liabilities)147,35865,451
Total assets less current liabilities251,213170,351
Provisions for liabilities(339)(350)
Net assets250,874170,001
Capital and reserves
Called up share capital100100
Profit and loss account250,774169,901
Shareholders' funds250,874170,001
The financial statements were approved and authorised for issue by the Director on 30 September 2024, and are signed on its behalf by:
J D Docherty
Director
Registered Company No. SC256987
DOCHERTY & CO. FINANCIAL SERVICES LIMITED
Notes to the Financial Statements
for the year ended 30 September 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered office address is 21 Netherburn Avenue, Houston, Renfrewshire, PA6 7NF.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
At the time of approving the financial statements, the directors has a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable. Turnover represents fees and commission attributable to the one principal activity of the company being that of financial services. Unbilled work is recognised as turnover in accordance with FRS102 and is included within debtors as amounts recoverable on contracts.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.
Tangible fixed assets and depreciation
Tangible assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings - Nil Plant and equipment - 15% on reducing balance Fixtures and fittings - 15% on reducing balance Computer equipment - 33% on reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.
Trade and other debtors
Amounts recoverable on contracts are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately within current liabilities.
Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
2.Average number of employees

20232022
Average number of employees during the year22
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 October 2220,00020,000
At 30 September 2320,00020,000
Amortisation and impairment
At 01 October 2216,50016,500
Charge for year1,0001,000
At 30 September 2317,50017,500
Net book value
At 30 September 232,5002,500
At 30 September 223,5003,500
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 October 22100,0005791,6395,760107,978
Additions---420420
Disposals---(212)(212)
At 30 September 23100,0005791,6395,968108,186
Depreciation and impairment
At 01 October 22-4061,1665,0066,578
Charge for year-2671368465
On disposals---(212)(212)
At 30 September 23-4321,2375,1626,831
Net book value
At 30 September 23100,000147402806101,355
At 30 September 22100,000173473754101,400
5.Debtors: amounts due within one year

2023

2022

££
Other debtors140,78086,711
Total140,78086,711
6.Creditors: amounts due within one year

2023

2022

££
Taxation and social security44,83117,282
Other creditors2,1494,985
Total46,98022,267
7.Directors advances, credits and guarantees
As at 30 September 2023, the director owed the company £84,227 (2022 - £59,139).