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REGISTERED NUMBER: SC572083 (Scotland)















DOUGLASBRAE LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 APRIL 2024






DOUGLASBRAE LTD (REGISTERED NUMBER: SC572083)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DOUGLASBRAE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: D R Marr
L J Murphy
C S Murphy





REGISTERED OFFICE: Douglasbrae
Dufftown Road
Keith
United Kingdom
AB55 5HT





REGISTERED NUMBER: SC572083 (Scotland)





AUDITORS: Xeinadin Audit Limited
Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

DOUGLASBRAE LTD (REGISTERED NUMBER: SC572083)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,800 27,200
Tangible assets 5 212,357 282,050
233,157 309,250

CURRENT ASSETS
Debtors 6 298,841 215,143
Cash at bank 53,748 -
352,589 215,143
CREDITORS
Amounts falling due within one year 7 5,099,214 4,132,379
NET CURRENT LIABILITIES (4,746,625 ) (3,917,236 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,513,468

)

(3,607,986

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 195,000 195,000
Retained earnings (4,709,468 ) (3,803,986 )
(4,513,468 ) (3,607,986 )

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 Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





C S Murphy - Director


DOUGLASBRAE LTD (REGISTERED NUMBER: SC572083)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Douglasbrae Ltd 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

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, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Freehold land and building4% straight line
Plant and equipment20% reducing balance
Motor Vehicles20% Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively is 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 the Statement of Comprehensive Income.

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.

DOUGLASBRAE LTD (REGISTERED NUMBER: SC572083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

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.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Going concern

The directors have received assurances from other group company members of ongoing financial support for a period of at least 12 months from the date of approval of these financial statements and therefore have reasonable expectations that the company has adequate resources to continue in operation for the foreseeable future. Thus the going concern basis of accounting and preparing annual financial statements has been adopted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 26 ) .

DOUGLASBRAE LTD (REGISTERED NUMBER: SC572083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 64,000
AMORTISATION
At 1 May 2023 36,800
Charge for year 6,400
At 30 April 2024 43,200
NET BOOK VALUE
At 30 April 2024 20,800
At 30 April 2023 27,200

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 100,000 475,826 575,826
Disposals - (21,424 ) (21,424 )
At 30 April 2024 100,000 454,402 554,402
DEPRECIATION
At 1 May 2023 16,000 277,776 293,776
Charge for year 4,000 60,673 64,673
Eliminated on disposal - (16,404 ) (16,404 )
At 30 April 2024 20,000 322,045 342,045
NET BOOK VALUE
At 30 April 2024 80,000 132,357 212,357
At 30 April 2023 84,000 198,050 282,050

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 254,633 182,506
Amounts owed by group undertakings 450 450
Other debtors 43,758 32,187
298,841 215,143

DOUGLASBRAE LTD (REGISTERED NUMBER: SC572083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 30,666
Trade creditors 54,597 49,574
Amounts owed to group undertakings 4,834,575 4,002,191
Taxation and social security 161,726 19,083
Other creditors 48,316 30,865
5,099,214 4,132,379

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kelvin Fitton BA FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

9. PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £14,209 (2023: £12,835). Contributions totalling £815 (2023: £650) were payable to the fund at the balance sheet date.

10. RELATED PARTY DISCLOSURES

Leo Group Holdings Midco Limited, the intermediate parent company, provided a loan to the company in the period, the outstanding balance being £4,821,241 (2023:£3,890,929) at the period end. No interest was charged.

BLS Truck & Van Limited, a company of common shareholding, had an outstanding balance owed from the company at the year end of £13.334 (2023:£8,784) at the period end. No interest was charged.

Leo Group Limited, a company of common shareholding, had an outstanding balance owed from the company at the year end of £NIL (2023:£5,289) at the period end. No interest was charged.

The Haulage (Holdings) Organisation Limited, a company of common shareholding, had an outstanding balance owed from the company at the year end of £NIL (2023:£97,190) at the period end. No interest was charged.

Robinson Mitchell Limited, a company of common shareholding, had an outstanding balance due to the company at the year end of £450 (2023:£300) at the period end. No interest was charged.

11. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Leo Group Holdings Midco Limited, a company registered in Jersey, and the ultimate parent company is Leo Group Family Holdings Limited, also registered in Jersey. The ultimate controlling party is Mr D S Sawrij.