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REGISTERED NUMBER: 03316595 (England and Wales)













DOUGLAS BROTHERS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






DOUGLAS BROTHERS LIMITED (REGISTERED NUMBER: 03316595)

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


DOUGLAS BROTHERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M H J Douglas





SECRETARY: M H J Douglas





REGISTERED OFFICE: Factory Yard
Cwmann
Lampeter
Ceredigion
SA48 8ES





REGISTERED NUMBER: 03316595 (England and Wales)





ACCOUNTANTS: Carr, Jenkins & Hood
3 New Mill Court
Enterprise Park
Swansea
SA7 9FG

DOUGLAS BROTHERS LIMITED (REGISTERED NUMBER: 03316595)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 233,091 445,520

CURRENT ASSETS
Debtors 5 139,008 114,958
Cash at bank and in hand 193,950 476,592
332,958 591,550
CREDITORS
Amounts falling due within one year 6 310,600 388,984
NET CURRENT ASSETS 22,358 202,566
TOTAL ASSETS LESS CURRENT LIABILITIES 255,449 648,086

CREDITORS
Amounts falling due after more than one
year

7

(16,667

)

(328,577

)

PROVISIONS FOR LIABILITIES (5,065 ) (6,089 )
NET ASSETS 233,717 313,420

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 233,667 313,370
233,717 313,420

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.

DOUGLAS BROTHERS LIMITED (REGISTERED NUMBER: 03316595)

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 25 October 2024 and were signed by:





M H J Douglas - Director


DOUGLAS BROTHERS LIMITED (REGISTERED NUMBER: 03316595)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Douglas Brothers Limited is a private company, limited by shares , registered in England and Wales. 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 each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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
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.

DOUGLAS BROTHERS LIMITED (REGISTERED NUMBER: 03316595)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 583,892 260,745 18,751 47,230 910,618
Additions 63,550 - 121 - 63,671
Disposals (385,410 ) - - - (385,410 )
At 31 March 2024 262,032 260,745 18,872 47,230 588,879
DEPRECIATION
At 1 April 2023 170,186 245,506 5,982 43,424 465,098
Charge for year 4,952 2,286 1,928 951 10,117
Eliminated on disposal (119,427 ) - - - (119,427 )
At 31 March 2024 55,711 247,792 7,910 44,375 355,788
NET BOOK VALUE
At 31 March 2024 206,321 12,953 10,962 2,855 233,091
At 31 March 2023 413,706 15,239 12,769 3,806 445,520

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 25,196 12,315
Other debtors 113,812 102,643
139,008 114,958

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 103,103
Trade creditors 108,072 82,388
Amounts owed to group undertakings 69,598 122,899
Taxation and social security 89,990 64,719
Other creditors 32,940 15,875
310,600 388,984

DOUGLAS BROTHERS LIMITED (REGISTERED NUMBER: 03316595)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 16,667 28,577
Amounts owed to group undertakings - 300,000
16,667 328,577