Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31falsetruetrue2023-09-01No description of principal activity33The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC553150 2023-09-01 2024-08-31 SC553150 2022-09-01 2023-08-31 SC553150 2024-08-31 SC553150 2023-08-31 SC553150 c:Director1 2023-09-01 2024-08-31 SC553150 c:Director2 2023-09-01 2024-08-31 SC553150 c:Director3 2023-09-01 2024-08-31 SC553150 c:RegisteredOffice 2023-09-01 2024-08-31 SC553150 d:PlantMachinery 2023-09-01 2024-08-31 SC553150 d:PlantMachinery 2024-08-31 SC553150 d:PlantMachinery 2023-08-31 SC553150 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 SC553150 d:MotorVehicles 2023-09-01 2024-08-31 SC553150 d:MotorVehicles 2024-08-31 SC553150 d:MotorVehicles 2023-08-31 SC553150 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 SC553150 d:FurnitureFittings 2023-09-01 2024-08-31 SC553150 d:FurnitureFittings 2024-08-31 SC553150 d:FurnitureFittings 2023-08-31 SC553150 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 SC553150 d:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 SC553150 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 SC553150 d:CurrentFinancialInstruments 2024-08-31 SC553150 d:CurrentFinancialInstruments 2023-08-31 SC553150 d:Non-currentFinancialInstruments 2024-08-31 SC553150 d:Non-currentFinancialInstruments 2023-08-31 SC553150 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 SC553150 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 SC553150 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 SC553150 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 SC553150 d:ShareCapital 2024-08-31 SC553150 d:ShareCapital 2023-08-31 SC553150 d:RetainedEarningsAccumulatedLosses 2024-08-31 SC553150 d:RetainedEarningsAccumulatedLosses 2023-08-31 SC553150 c:OrdinaryShareClass1 2023-09-01 2024-08-31 SC553150 c:OrdinaryShareClass1 2024-08-31 SC553150 c:OrdinaryShareClass1 2023-08-31 SC553150 c:FRS102 2023-09-01 2024-08-31 SC553150 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 SC553150 c:FullAccounts 2023-09-01 2024-08-31 SC553150 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC553150 4 2024-08-31 SC553150 4 2023-08-31 SC553150 f:PoundSterling 2023-09-01 2024-08-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC553150










DAVID LUMGAIR AND SONS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

 
DAVID LUMGAIR AND SONS LIMITED
 

COMPANY INFORMATION


DIRECTORS
D Lumgair Snr 
D Lumgair Jnr 
J Lumgair 




REGISTERED NUMBER
SC553150



REGISTERED OFFICE
Westby
64 West High Street

Forfar

Angus

DD8 1BJ




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
DAVID LUMGAIR AND SONS LIMITED
REGISTERED NUMBER: SC553150

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
£
£

FIXED ASSETS
  

Tangible assets
 4 
1,103,897
599,338

Investments
 5 
17,293
17,636

  
1,121,190
616,974

CURRENT ASSETS
  

Stocks
  
765,565
832,461

Debtors: amounts falling due within one year
 6 
101,989
187,045

Cash at bank and in hand
  
2,023,368
887,210

  
2,890,922
1,906,716

Creditors: amounts falling due within one year
 7 
(1,610,599)
(918,969)

NET CURRENT ASSETS
  
 
 
1,280,323
 
 
987,747

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,401,513
1,604,721

Creditors: amounts falling due after more than one year
 8 
(103,340)
(124,903)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(275,974)
(147,521)

  
 
 
(275,974)
 
 
(147,521)

NET ASSETS
  
2,022,199
1,332,297


CAPITAL AND RESERVES
  

Called up share capital 
  
100
100

Profit and loss account
  
2,022,099
1,332,197

  
2,022,199
1,332,297


Page 1

 
DAVID LUMGAIR AND SONS LIMITED
REGISTERED NUMBER: SC553150

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 January 2025.




J Lumgair
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
DAVID LUMGAIR AND SONS LIMITED
 

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

1.


GENERAL INFORMATION

David Lumgair and Sons Limited is a private company, limited by shares, incorporated in Scotland with the registration number SC553150.  The registered office is Westby, 64 West High Street, Forfar, Angus, DD8 1BJ, with the trading address being 10 Idvies View, Letham, Angus, DD8 2DU.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
DAVID LUMGAIR AND SONS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Plant and machinery
-
12.50%
reducing balance
Tractors
-
12.50%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
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.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 4

 
DAVID LUMGAIR AND SONS LIMITED
 

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

4.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Tractors
Total

£
£
£
£



COST OR VALUATION


At 1 September 2023
809,716
30,032
210,700
1,050,448


Additions
841,970
-
-
841,970


Disposals
(399,000)
-
-
(399,000)



At 31 August 2024

1,252,686
30,032
210,700
1,493,418



DEPRECIATION


At 1 September 2023
358,093
23,469
69,548
451,110


Charge for the year on owned assets
139,315
1,383
17,644
158,342


Disposals
(219,931)
-
-
(219,931)



At 31 August 2024

277,477
24,852
87,192
389,521



NET BOOK VALUE



At 31 August 2024
975,209
5,180
123,508
1,103,897



At 31 August 2023
451,623
6,563
141,152
599,338


5.


FIXED ASSET INVESTMENTS





Trade investments

£





At 1 September 2023
17,636


Additions
13,124


Disposals
(13,467)






NET BOOK VALUE



At 31 August 2024
17,293



At 31 August 2023
17,636

Page 5

 
DAVID LUMGAIR AND SONS LIMITED
 

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

6.


DEBTORS

2024
2023
£
£


Trade debtors
4,168
119,066

Other debtors
97,821
67,979

101,989
187,045



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
21,563
21,563

Trade creditors
859,443
278,979

Other taxation and social security
101,145
79,124

Other creditors
628,448
539,303

1,610,599
918,969


The bank loans are secured by a floating charge over the assets of the company.
Obligations under finance lease and hire purchase contracts are secured over the related assets.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
103,340
124,903

103,340
124,903


The bank loans are secured by a floating charge over the assets of the company. The amount of loan falling due after more than five years is £27,456 (2023- £27,456).


9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2023 - 100) Ordinary £1 shares shares of £1.00 each
100
100



Page 6