Caseware UK (AP4) 2023.0.135 2023.0.135 2022-12-312022-12-31falsefalsefalseNo description of principal activity2022-01-0111 SC570476 2022-01-01 2022-12-31 SC570476 2021-01-01 2021-12-31 SC570476 2022-12-31 SC570476 2021-12-31 SC570476 2021-01-01 SC570476 2 2021-01-01 2021-12-31 SC570476 d:Director1 2022-01-01 2022-12-31 SC570476 d:RegisteredOffice 2022-01-01 2022-12-31 SC570476 e:CurrentFinancialInstruments 2022-12-31 SC570476 e:CurrentFinancialInstruments 2021-12-31 SC570476 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 SC570476 e:CurrentFinancialInstruments e:WithinOneYear 2021-12-31 SC570476 e:ShareCapital 2022-01-01 2022-12-31 SC570476 e:ShareCapital 2022-12-31 SC570476 e:ShareCapital 2021-01-01 2021-12-31 SC570476 e:ShareCapital 2021-12-31 SC570476 e:ShareCapital 2021-01-01 SC570476 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 SC570476 e:RetainedEarningsAccumulatedLosses 2022-12-31 SC570476 e:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 SC570476 e:RetainedEarningsAccumulatedLosses 2021-12-31 SC570476 e:RetainedEarningsAccumulatedLosses 2021-01-01 SC570476 e:RetainedEarningsAccumulatedLosses 2 2021-01-01 2021-12-31 SC570476 d:OrdinaryShareClass1 2022-01-01 2022-12-31 SC570476 d:OrdinaryShareClass1 2022-12-31 SC570476 d:OrdinaryShareClass1 2021-12-31 SC570476 d:OrdinaryShareClass2 2022-01-01 2022-12-31 SC570476 d:OrdinaryShareClass2 2022-12-31 SC570476 d:OrdinaryShareClass2 2021-12-31 SC570476 d:FRS102 2022-01-01 2022-12-31 SC570476 d:Audited 2022-01-01 2022-12-31 SC570476 d:FullAccounts 2022-01-01 2022-12-31 SC570476 d:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 SC570476 e:Subsidiary1 2022-01-01 2022-12-31 SC570476 e:Subsidiary1 1 2022-01-01 2022-12-31 SC570476 e:Subsidiary2 2022-01-01 2022-12-31 SC570476 e:Subsidiary2 1 2022-01-01 2022-12-31 SC570476 e:Subsidiary3 2022-01-01 2022-12-31 SC570476 e:Subsidiary3 1 2022-01-01 2022-12-31 SC570476 e:Subsidiary4 2022-01-01 2022-12-31 SC570476 e:Subsidiary4 1 2022-01-01 2022-12-31 SC570476 e:Subsidiary5 2022-01-01 2022-12-31 SC570476 e:Subsidiary5 1 2022-01-01 2022-12-31 SC570476 e:Subsidiary6 2022-01-01 2022-12-31 SC570476 e:Subsidiary6 1 2022-01-01 2022-12-31 SC570476 e:Subsidiary7 2022-01-01 2022-12-31 SC570476 e:Subsidiary7 1 2022-01-01 2022-12-31 SC570476 e:Subsidiary8 2022-01-01 2022-12-31 SC570476 e:Subsidiary8 1 2022-01-01 2022-12-31 SC570476 e:Subsidiary9 2022-01-01 2022-12-31 SC570476 e:Subsidiary9 1 2022-01-01 2022-12-31 SC570476 e:Subsidiary10 2022-01-01 2022-12-31 SC570476 e:Subsidiary10 1 2022-01-01 2022-12-31 SC570476 6 2022-01-01 2022-12-31 SC570476 f:PoundSterling 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: SC570476









DALGLEN (NO. 1812) LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

 
DALGLEN (NO. 1812) LIMITED
 
 
COMPANY INFORMATION


Director
J Easdale 




Registered number
SC570476



Registered office
99 Earnhill Road
Larkfield Industrial Estate

Greenock

PA16 0EQ




Independent auditors
Armstrong Watson Audit Limited
Chartered Accountants & Statutory Auditors

1st Floor

24 Blythswood Square

Glasgow

G2 4BG





 
DALGLEN (NO. 1812) LIMITED
 

CONTENTS



Page
Strategic Report
1
Director's Report
2 - 3
Independent Auditors' Report
4 - 7
Statement of Comprehensive Income
8
Balance Sheet
9
Statement of Changes in Equity
10 - 11
Statement of Cash Flows
12
Analysis of Net Debt
13
Notes to the Financial Statements
14 - 19


 
DALGLEN (NO. 1812) LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022

Introduction
 
The Director presents the Strategic Report for the year ended 31 December 2022.

Business review
 
The Company is a holding company.

Principal risks and uncertainties
 
The Company has not granted any securities to any of its subsidiaries which limits the risks to which the company is exposed.

Financial key performance indicators
 
The Company does not trade and therefore there are no key financial performance indicators.

Director's statement of compliance with duty to promote the success of the Company
 
The Director acknowledges and understands their duties and responsibilities, including that of section 172, of
the Companies Act 2006. A Director of a company must act in the way he or she considers, in good faith,
would be most likely to promote the success of the company for the benefit of its members as a whole, and in
doing so have regard (amongst other matters and in so far as the company does not trade) to:
• the likely consequences of any decision in the long term,
• the interest of the company’s employees,
• the need to foster the company’s business relationships with suppliers, customers and others,
• the impact of the company’s operations on the community and the environment,
• the desirability of the company maintaining a reputation for high standards of business conduct, and
• the need to act fairly as between members of the Company
The Director considers the decisions taken during the period ended 31st December 2022 were in conformance
to their duty under section 172 of the Companies Act.


This report was approved by the board and signed on its behalf.



J Easdale
Director

Date: 26 October 2024

Page 1

 
DALGLEN (NO. 1812) LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022

The Director presents his report and the financial statements for the year ended 31 December 2022.

Director's responsibilities statement

The Director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the Director to prepare financial statements for each financial year. Under that law the Director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the Director is required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The loss for the year, after taxation, amounted to £5,000 (2021 - profit £5,924,481).

No dividends were declared or paid during the year (2021: £5,924,481).

Director

The Director who served during the year was:

J Easdale 

Future developments

The Director anticipates that the company will continue to operate at similar levels for the foreseeable future.

Engagement with suppliers, customers and others

As a holding company, there is limited engagement with external customers.

Page 2

 
DALGLEN (NO. 1812) LIMITED
 
 
 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022

Greenhouse gas emissions, energy consumption and energy efficiency action

The Company has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.

Disclosure of information to auditors

The Director at the time when this Director's Report is approved has confirmed that:
 
so far as he is aware, there is no relevant audit information of which the Company's auditors are unaware, and

he has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

The auditorsArmstrong Watson Audit Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





J Easdale
Director

Date: 26 October 2024

Page 3

 
DALGLEN (NO. 1812) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DALGLEN (NO. 1812) LIMITED
 

Adverse opinion


We have audited the financial statements of Dalglen (No. 1812) Limited (the 'Company') for the year ended 31 December 2022, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion, because of the significance of the matter described in the basis for adverse opinion section of our report, the financial statements:


do not give a true and fair view of the state of the Company's affairs as at 31 December 2022 and of its loss for the year then ended;
have not been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have not been prepared in accordance with the requirements of the Companies Act 2006.

Basis for adverse opinion


As explained in note 2 to the financial statements, the Director Per section 399 of the Companies Act 2006 and under the requirements of FRS 102 the Company, should have prepared consolidated financial statements. 
As a result we were unable to determine whether any adjustments might have been found necessary in respect of recorded or unrecorded items, and the elements making up the Statement of Comprehensive Income, the Balance Sheet, the Statement of Cash Flows and the Statement of Changes in Equity.


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our adverse opinion on the Company's financial statements.




Conclusions relating to going concern


In auditing the financial statements, we have concluded that the Director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the Director with respect to going concern are described in the relevant sections of this report.


Page 4

 
DALGLEN (NO. 1812) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DALGLEN (NO. 1812) LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Director is responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


As described in the basis for adverse opinion section of our report, consolidated financial statements have not been prepared. We have concluded that the other information is materially misstated for the same reason with respect to the amounts or other items in the annual report affected by the failure to prepare consolidated  financial statements.


Opinion on other matters prescribed by the Companies Act 2006
 

Except for the effects of the matters described in the basis for adverse opinion section of our report, in our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

As a result of the matters described in the basis for adverse opinion section of our report, in light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have identified material misstatements in the Strategic Report and the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Page 5

 
DALGLEN (NO. 1812) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DALGLEN (NO. 1812) LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Director's Responsibilities Statement set out on page 2, the Director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the Director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Director either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
 
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: 
• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and knowledge of the Company to identify or recognise non-compliance with applicable laws and regulations;  
• we identified the laws and regulations applicable to the company through discussions with directors and other management and review of appropriate industry knowledge. Key laws and regulations we identified during the audit were the UK Companies Act 2006 and tax legislation, UK employment legislation and UK health and safety legislation; 
• we assessed the extent of compliance with the laws and regulations identified above by making enquiries of management; and 
• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and 
• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. 


 
Page 6

 
DALGLEN (NO. 1812) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DALGLEN (NO. 1812) LIMITED (CONTINUED)


To address the risk of fraud through management bias and override of controls, we: 
• performed analytical procedures as a risk assessment tool to identify any unusual or unexpected relationships;
• tested journal entries to identify unusual transactions that may indicate override of controls; 
• reviewed key judgements and estimates for any evidence of management bias; and 
• reviewed the application of accounting policies with focus on those with heightened estimation uncertainty.
 
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: 
• agreeing financial statement disclosures to underlying supporting documentation; and 
• enquiring of management to identify actual and potential litigation and claims. 
Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Martin Johnston (Senior Statutory Auditor)
  
for and on behalf of
Armstrong Watson Audit Limited
 
Chartered Accountants & Statutory Auditors
  
1st Floor
24 Blythswood Square
Glasgow
G2 4BG

28 October 2024
Page 7

 
DALGLEN (NO. 1812) LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2022

As restated
2022
2021
Note
£
£

  

Administrative expenses
  
(5,000)
-

Operating (loss)/profit
  
(5,000)
-

Income from shares in group undertakings
  
-
5,924,481

(Loss)/profit before tax
  
(5,000)
5,924,481

(Loss)/profit for the financial year
  
(5,000)
5,924,481

Other comprehensive income for the year
  

Total comprehensive (loss)/income for the year
  
(5,000)
5,924,481

The notes on pages 14 to 19 form part of these financial statements.

Page 8

 
DALGLEN (NO. 1812) LIMITED
REGISTERED NUMBER: SC570476

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Investments
 6 
798
798

  
798
798

Current assets
  

Cash at bank and in hand
 7 
2
2

  
2
2

Creditors: amounts falling due within one year
 8 
(5,000)
-

Net current (liabilities)/assets
  
 
 
(4,998)
 
 
2

Total assets less current liabilities
  
(4,200)
800

  

Net (liabilities)/assets
  
(4,200)
800


Capital and reserves
  

Called up share capital 
 9 
300
300

Profit and loss account
 10 
(4,500)
500

  
(4,200)
800


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Easdale
Director

Date: 26 October 2024

The notes on pages 14 to 19 form part of these financial statements.

Page 9

 
DALGLEN (NO. 1812) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2022
300
500
800


Comprehensive (loss)/income for the year

Loss for the year

-
(5,000)
(5,000)


Other comprehensive income for the year
-
-
-


Total comprehensive loss for the year
-
(5,000)
(5,000)


Total transactions with owners
-
-
-


At 31 December 2022
300
(4,500)
(4,200)


The notes on pages 14 to 19 form part of these financial statements.

Page 10

 
DALGLEN (NO. 1812) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021


Called up share capital
As restated Profit and loss account
Total equity

£
£
£

At 1 January 2021
200
600
800


Comprehensive income for the year

Profit for the year

-
5,924,481
5,924,481


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
5,924,481
5,924,481


Contributions by and distributions to owners

Dividends: Equity capital
-
(5,924,481)
(5,924,481)

Capitalisation/bonus issue
100
(100)
-


Total transactions with owners
100
(5,924,581)
(5,924,481)


At 31 December 2021
300
500
800


The notes on pages 14 to 19 form part of these financial statements.

Page 11

 
DALGLEN (NO. 1812) LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2022

As restated
2022
2021
£
£

Cash flows from operating activities

(Loss)/profit for the financial year
(5,000)
5,924,481


Dividend in specie - non cash income
-
(5,924,481)

Increase in creditors
5,000
-

Net cash generated from operating activities

-
-

Cash and cash equivalents at beginning of year
2
2

Cash and cash equivalents at the end of year
2
2


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
2
2

2
2


The notes on pages 14 to 19 form part of these financial statements.

Page 12

 
DALGLEN (NO. 1812) LIMITED
 

ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2022



At 1 January 2022
At 31 December 2022
£

£

Cash at bank and in hand

2

2


2
2

The notes on pages 14 to 19 form part of these financial statements.

Page 13

 
DALGLEN (NO. 1812) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Dalglen (No. 1812) 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 Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company has prepared standalone financial statements and has not prepared consolidated financial statements for the group including the subsidiaries which the Company owns and controls, which would be required under section 399 of the Companies Act 2006 and under the requirements of FRS 102. Under FRS 102 since there is no publicly available set of consolidated financial statements that include the Company and its subsidiaries, the exemption from preparing consolidated financial statements is not applicable.
Consolidated financial statements have been prepared by McGill's Bus Services Limited however, preparing consolidated financial statements at this level only is not in line with the requirements of  the Companies Act 2006 and under the requirements of FRS 102. These financial statements can be obtained from companies house www.gov.uk/government/organisations/companies-house.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

Management consider there to be no key judgments or significant estimates.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the Director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, the Director continues to adopt the going concern basis of accounting in preparing the financial statements.
The information used to make this assessment is the preparation of group forecasts to at least twelve months from the date of the financial statements approval. These showed that the Group and therefore the Company has sufficient access to required funding in order to continue to settle its third party liabilities as they fall due.
On this basis, the Director is confident that the Company will continue to meet its liabilities as they fall due for at least twelve months from the date of approval of the financial statements and therefore the financial statements have been prepared on  a going concern basis.

Page 14

 
DALGLEN (NO. 1812) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. 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.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2022
2021
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
5,000
-


4.


Employees

Staff costs were as follows:





The average monthly number of employees, including the Director, during the year was as follows:


        2022
        2021
            No.
            No.







Director
1
1

Page 15

 
DALGLEN (NO. 1812) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Dividends

2022
2021
£
£


Dividend in specie
-
5,924,481

-
5,924,481


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2022
798



At 31 December 2022
798




Page 16

 
DALGLEN (NO. 1812) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

Subsidiary undertakings


As at 31 December 2022, the Company had one direct subsidiary undertaking: Arranglen Limited. The Company also had a number of indirect subsidiary undertakings at the year-end. The details of all direct and indirect subsidiary undertakings of the Company as at 31 December 2022 are shown below:

Name

Registered office

Class of shares

Holding

Arranglen Limited
99 Earnhill Road, Larkfield Industrial Estate, Greenock, PA16 0EQ
Ordinary
100%
McGill's Bus Service Limited
99 Earnhill Road, Larkfield Industrial Estate, Greenock, PA16 0EQ
Ordinary
100%
Loch Lomond Bus Services Limited
99 Earnhill Road, Larkfield Industrial Estate, Greenock, PA16 0EQ
Ordinary
100%
McGill's City Connect Ltd
99 Earnhill Road, Larkfield Industrial Estate, Greenock, PA16 0EQ
Ordinary
100%
Smoothie Cruisers Ltd
99 Earnhill Road, Larkfield Industrial Estate, Greenock, PA16 0EQ
Ordinary
100%
Taybus Holdings Ltd
44/48 East Dock Street, Dundee, DD1 3JS
Ordinary
100%
Tayside Public Transport Limited
44/48 East Dock Street, Dundee, DD1 3JS
Ordinary
100%
McGill's Scotland East Limited
Carmuirs House, 300 Stirling Road, Larbert, Stirlingshire, FK5 3NJ
Ordinary
100%
Midland Bluebird Limited
Carmuirs House, 300 Stirling Road, Larbert, Stirlingshire, FK5 3NJ
Ordinary
100%
Eastern Scottish Omnibuses Limited
Carmuirs House, 300 Stirling Road, Larbert, Stirlingshire, FK5 3NJ
Ordinary
100%

Page 17

 
DALGLEN (NO. 1812) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Subsidiary undertakings (continued)

The aggregate of the share capital and reserves as at 31 December 2022 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Arranglen Limited
5,363,744
2,120,449

McGill's Bus Service Limited
9,494,335
773,466

Loch Lomond Bus Services Limited
317,849
160,384

McGill's City Connect Ltd
2
-

Smoothie Cruisers Ltd
2
-

Taybus Holdings Ltd
296,000
-

Tayside Public Transport Limited
13,577,030
905,702

McGill's Scotland East Limited
3,322,171
(11,115,926)

Midland Bluebird Limited
6,231,551
8,732,003

Eastern Scottish Omnibuses Limited
2,200,000
-


7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
2
2

2
2



8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other creditors
5,000
-

5,000
-


Page 18

 
DALGLEN (NO. 1812) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

9.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



200 (2021 - 200) A Ordinary shares of £1.00 each
200
200
100 (2021 - 100) B Ordinary shares of £1.00 each
100
100

300

300

The holders of ordinary shares are entitled to receive dividends as declared and are entitled to one vote per share at meetings of the Company. All ordinary shares rank equally with regards to the Company's residual assets.



10.


Reserves

Profit and loss account

The profit and loss account comprises the accumulated profits and losses of the company.


11.


Prior year adjustment

A bonus share issue in the prior year was incorrectly accounted for through other comprehensive income. To correct for this, a restatement has been made to other comprehensive income and reserves in the prior year. The impact on brought forward reserves of this restatement is nil.
Additionally, a dividend in specie received and subsequently distributed to shareholders was included in the statement of cash flows as a cash movement in error in the prior year. To correct for this, the statement of cash flows for the prior year has been restated. The impact on brought forward reserves of this restatement is nil.


12.


Controlling party

In the opinion of the Director the company does not have an ultimate controlling party.

 
Page 19