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DCI WHOLESALE LIMITED

Registered Number
SC658348
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

DCI WHOLESALE LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Mr C Amadei
Mr E D Amadei

Registered Address

5 Tarbet Street
Gourock
PA19 1UF

Registered Number

SC658348 (Scotland)
DCI WHOLESALE LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets342,21451,595
42,21451,595
Current assets
Stocks142,531165,231
Debtors450,08562,630
Cash at bank and on hand1,128,966961,183
1,321,5821,189,044
Creditors amounts falling due within one year5(521,742)(558,646)
Net current assets (liabilities)799,840630,398
Total assets less current liabilities842,054681,993
Provisions for liabilities(7,671)(12,865)
Net assets834,383669,128
Capital and reserves
Called up share capital100100
Profit and loss account834,283669,028
Shareholders' funds834,383669,128
The financial statements were approved and authorised for issue by the Board of Directors on 24 December 2024, and are signed on its behalf by:
Mr C Amadei
Director
Mr E D Amadei
Director

Registered Company No. SC658348
DCI WHOLESALE LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered office is 5 Tarbet Street, Gourock, Scotland, PA19 1UF.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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 have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Thus the directors continue 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods from the wholesale of frozen foods and ice cream. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss and 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. Current and deferred tax assets and liabilities are not discounted.
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 machinery - 20% on reducing balance Fixtures and fittings - 20% on reducing balance Computer equipment - 25% straight line Motor vehicles - 25% 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.
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
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

20242023
Average number of employees during the year66
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 April 2311,53221,42854,8203,68873392,201
At 31 March 2411,53221,42854,8203,68873392,201
Depreciation and impairment
At 01 April 23-10,18328,2981,64947640,606
Charge for year-2,2496,631408939,381
At 31 March 24-12,43234,9292,05756949,987
Net book value
At 31 March 2411,5328,99619,8911,63116442,214
At 31 March 2311,53211,24526,5222,03925751,595
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables38,34052,381
Other debtors4327
Prepayments and accrued income11,70210,222
Total50,08562,630
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables173,224178,870
Taxation and social security73,25391,620
Other creditors270,987282,938
Accrued liabilities and deferred income4,2785,218
Total521,742558,646
6.Related party transactions
During the year, the directors received repayments to their loan accounts of £11,926. The balance owed to them from the company as at 31 March 2024 was £270,653 (2023: £282,579).