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REGISTERED NUMBER: SC319737 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

DAB Fabrications Ltd

DAB Fabrications Ltd (Registered number: SC319737)






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


DAB Fabrications Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Donald A Brodie





REGISTERED OFFICE: Block 5 - Unit 1
Cowlairs Industrial Estate
Finlas Street
Glasgow
G22 5DT





REGISTERED NUMBER: SC319737 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

DAB Fabrications Ltd (Registered number: SC319737)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 123,970 106,352
Investments 5 183,034 113,025
307,004 219,377

CURRENT ASSETS
Stock 210,000 240,000
Debtors 6 484,254 471,539
Cash at bank and in hand 104,578 113,179
798,832 824,718
CREDITORS
Amounts falling due within one year 7 246,308 280,511
NET CURRENT ASSETS 552,524 544,207
TOTAL ASSETS LESS CURRENT
LIABILITIES

859,528

763,584

CREDITORS
Amounts falling due after more than one
year

8

(19,950

)

(29,925

)

PROVISIONS FOR LIABILITIES 9 (30,993 ) (20,206 )
NET ASSETS 808,585 713,453

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11 808,584 713,452
SHAREHOLDERS' FUNDS 808,585 713,453

DAB Fabrications Ltd (Registered number: SC319737)

Balance Sheet - continued
31 March 2024


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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 February 2025 and were signed by:





Donald A Brodie - Director


DAB Fabrications Ltd (Registered number: SC319737)

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

1. STATUTORY INFORMATION

DAB Fabrications 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 as modified by the revaluation of certain assets.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stock to their present location and condition.

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


DAB Fabrications Ltd (Registered number: SC319737)

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

2. ACCOUNTING POLICIES - continued
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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 8 ) .

DAB Fabrications Ltd (Registered number: SC319737)

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

4. TANGIBLE FIXED ASSETS
Fittings
Plant and and Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2023 142,726 - 78,000 220,726
Additions 1,334 4,139 63,587 69,060
Disposals - - (32,000 ) (32,000 )
At 31 March 2024 144,060 4,139 109,587 257,786
DEPRECIATION
At 1 April 2023 70,089 - 44,285 114,374
Charge for year 18,489 1,034 22,730 42,253
Eliminated on disposal - - (22,811 ) (22,811 )
At 31 March 2024 88,578 1,034 44,204 133,816
NET BOOK VALUE
At 31 March 2024 55,482 3,105 65,383 123,970
At 31 March 2023 72,637 - 33,715 106,352

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 49,875
DEPRECIATION
At 1 April 2023 21,821
Charge for year 7,014
At 31 March 2024 28,835
NET BOOK VALUE
At 31 March 2024 21,040
At 31 March 2023 28,054

DAB Fabrications Ltd (Registered number: SC319737)

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

5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 April 2023 113,025
Additions 114,275
Disposals (46,792 )
Revaluations 2,526
At 31 March 2024 183,034
NET BOOK VALUE
At 31 March 2024 183,034
At 31 March 2023 113,025

Cost or valuation at 31 March 2024 is represented by:

Listed
investments
£   
Valuation in 2024 183,034

Market value of listed investments at 31 March 2024 - £ 183,034 .

Represents various listed investments held via Dowgate Capital Limited.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 185,028 194,806
Other debtors 299,226 276,733
484,254 471,539

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,667 31,667
Hire purchase contracts 9,975 9,975
Trade creditors 81,580 120,836
Taxation and social security 93,626 99,119
Other creditors 39,460 18,914
246,308 280,511

DAB Fabrications Ltd (Registered number: SC319737)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts 19,950 29,925

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 30,993 20,206

Deferred
tax
£   
Balance at 1 April 2023 20,206
Charge to Statement of Income and Retained Earnings during year 10,787
Balance at 31 March 2024 30,993

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

11. RESERVES
Retained
earnings
£   

At 1 April 2023 713,452
Profit for the year 155,132
Dividends (60,000 )
At 31 March 2024 808,584