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REGISTERED NUMBER: SC279742 (Scotland)





















Unaudited Financial Statements

For The Year Ended 31 March 2024

for

David Mcdonald Financial Services
Limited

David Mcdonald Financial Services
Limited (Registered number: SC279742)






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 Mcdonald Financial Services
Limited

Company Information
For The Year Ended 31 March 2024







DIRECTOR: D McDonald





SECRETARY: Mrs J McDonald





REGISTERED OFFICE: 65 Bath Street
Glasgow
G2 2BX





REGISTERED NUMBER: SC279742 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

David Mcdonald Financial Services
Limited (Registered number: SC279742)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 122,103 117,187

CURRENT ASSETS
Debtors 5 102,524 2,380
Cash at bank 271,239 286,870
373,763 289,250
CREDITORS
Amounts falling due within one year 6 43,756 13,611
NET CURRENT ASSETS 330,007 275,639
TOTAL ASSETS LESS CURRENT
LIABILITIES

452,110

392,826

PROVISIONS FOR LIABILITIES 1,396 -
NET ASSETS 450,714 392,826

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 450,713 392,825
SHAREHOLDERS' FUNDS 450,714 392,826

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 Mcdonald Financial Services
Limited (Registered number: SC279742)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 December 2024 and were signed by:





D McDonald - Director


David Mcdonald Financial Services
Limited (Registered number: SC279742)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

David Mcdonald Financial Services 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.

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 the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance
Computer equipment - 20% on cost

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 trade 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.

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.


David Mcdonald Financial Services
Limited (Registered number: SC279742)

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

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

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 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 April 2023 119,060 2,758 - 121,818
Additions - - 9,186 9,186
At 31 March 2024 119,060 2,758 9,186 131,004
DEPRECIATION
At 1 April 2023 1,925 2,706 - 4,631
Charge for year 2,381 52 1,837 4,270
At 31 March 2024 4,306 2,758 1,837 8,901
NET BOOK VALUE
At 31 March 2024 114,754 - 7,349 122,103
At 31 March 2023 117,135 52 - 117,187

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 776 -
Other debtors 101,748 2,380
102,524 2,380

David Mcdonald Financial Services
Limited (Registered number: SC279742)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 37,038 9,155
Other creditors 6,718 4,456
43,756 13,611

7. RELATED PARTY DISCLOSURES

As at 31/03/2024, David McDonald Financial Services Ltd was owed £5,675 by McDonald's Residential Care Homes Ltd. This loan is provided interest free and has no fixed repayment terms. These companies have a director in common.