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REGISTERED NUMBER: SC506497 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

D Forbes Building Contractors Limited

D Forbes Building Contractors Limited (Registered number: SC506497)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


D Forbes Building Contractors Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: DW Forbes





REGISTERED OFFICE: New Ben View
Fintray
Aberdeen
AB21 0YQ





REGISTERED NUMBER: SC506497 (Scotland)





ACCOUNTANTS: The Grant Considine Partnership
Chartered Accountants
46 High Street
Banchory
Aberdeenshire
AB31 5SR

D Forbes Building Contractors Limited (Registered number: SC506497)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 250,209 81,892

CURRENT ASSETS
Debtors 6 112,074 132,281
Cash at bank 90,374 194,784
202,448 327,065
CREDITORS
Amounts falling due within one year 7 138,784 136,950
NET CURRENT ASSETS 63,664 190,115
TOTAL ASSETS LESS CURRENT
LIABILITIES

313,873

272,007

CREDITORS
Amounts falling due after more than one
year

8

(105,257

)

(53,986

)

PROVISIONS FOR LIABILITIES (23,761 ) (18,835 )
NET ASSETS 184,855 199,186

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 184,755 199,086
SHAREHOLDERS' FUNDS 184,855 199,186

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

D Forbes Building Contractors Limited (Registered number: SC506497)

Statement of Financial Position - continued
31 May 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 28 January 2025 and were signed by:





DW Forbes - Director


D Forbes Building Contractors Limited (Registered number: SC506497)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

D Forbes Building Contractors 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 the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover is measured at fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when the service has been provided, when the amount of revenue can be measured reliably and when its probable that future economic benefits will flow to the entity. If a customer has not been invoiced for services provided during the period the income is accrued and included in debtors under prepayments and accrued income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Tangible Fixed Assets are included at cost less depreciation and impairment.

Plant & Machinery - 25% Reducing Balance
Computer Equipment - 25% Reducing Balance
Motor Vehicle - 25% on Cost

Financial instruments
Directors' Loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

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 statement of financial position date.


D Forbes Building Contractors Limited (Registered number: SC506497)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 - 125,249 125,249
Additions 146,900 50,992 197,892
Disposals - (11,828 ) (11,828 )
At 31 May 2024 146,900 164,413 311,313
DEPRECIATION
At 1 June 2023 - 43,357 43,357
Charge for year - 26,222 26,222
Eliminated on disposal - (8,475 ) (8,475 )
At 31 May 2024 - 61,104 61,104
NET BOOK VALUE
At 31 May 2024 146,900 103,309 250,209
At 31 May 2023 - 81,892 81,892

D Forbes Building Contractors Limited (Registered number: SC506497)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 25,164
DEPRECIATION
At 1 June 2023 13,631
Charge for year 6,291
At 31 May 2024 19,922
NET BOOK VALUE
At 31 May 2024 5,242
At 31 May 2023 11,533

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 69,103 97,327
Other debtors 42,971 34,954
112,074 132,281

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 18,814 10,000
Hire purchase contracts 12,134 12,550
Trade creditors 34,859 25,811
Taxation and social security 25,551 54,917
Other creditors 47,426 33,672
138,784 136,950

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 91,783 28,333
Hire purchase contracts 3,350 15,483
Other creditors 10,124 10,170
105,257 53,986

D Forbes Building Contractors Limited (Registered number: SC506497)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bounce Back Loan 28,333 38,333
Commercial Mortgage 82,264 -
110,597 38,333

The lender of the Coronavirus Bounce Back Loan has a full (100%) government-backed guarantee against both the capital and the interest, although D Forbes Building Contractors Limited remains fully liable for the debt.

The Royal Bank of Scotland holds security over the Commercial Mortgage in the form of the land adjacent to Newlands Fintray.