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REGISTERED NUMBER: SC229147 (Scotland)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

D Chisholm & Sons Ltd.

D Chisholm & Sons Ltd. (Registered number: SC229147)

Contents of the Financial Statements
for the year ended 31st March 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


D Chisholm & Sons Ltd.

Company Information
for the year ended 31st March 2024







Director: G J Chisholm





Registered office: Huntly Street
Inverness
Highland
IV3 5HP





Registered number: SC229147 (Scotland)





Accountants: Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
D Chisholm & Sons Ltd.


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of D Chisholm & Sons Ltd. for the year ended 31st March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of D Chisholm & Sons Ltd. in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of D Chisholm & Sons Ltd. and state those matters that we have agreed to state to the director of D Chisholm & Sons Ltd. in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that D Chisholm & Sons Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of D Chisholm & Sons Ltd.. You consider that D Chisholm & Sons Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of D Chisholm & Sons Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT


21st February 2025

D Chisholm & Sons Ltd. (Registered number: SC229147)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 1,376,385 1,183,460
1,376,385 1,183,460

Current assets
Stocks 37,000 32,500
Debtors 6 518,959 471,616
Cash at bank and in hand 1,298,664 1,438,363
1,854,623 1,942,479
Creditors
Amounts falling due within one year 7 82,109 135,153
Net current assets 1,772,514 1,807,326
Total assets less current liabilities 3,148,899 2,990,786

Provisions for liabilities 18,713 31,807
Net assets 3,130,186 2,958,979

Capital and reserves
Called up share capital 100 100
Retained earnings 3,130,086 2,958,879
3,130,186 2,958,979

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

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

D Chisholm & Sons Ltd. (Registered number: SC229147)

Balance Sheet - continued
31st March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21st February 2025 and were signed by:





G J Chisholm - Director


D Chisholm & Sons Ltd. (Registered number: SC229147)

Notes to the Financial Statements
for the year ended 31st March 2024


1. Statutory information

D Chisholm & Sons 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.

Turnover
Turnover is measured at 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 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 12.5% on reducing balance and not provided
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


D Chisholm & Sons Ltd. (Registered number: SC229147)

Notes to the Financial Statements - continued
for the year ended 31st 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
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.

Fair value
Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.

3. Employees and directors

The average number of employees during the year was 13 (2023 - 13 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1st April 2023
and 31st March 2024 400,000
Amortisation
At 1st April 2023
and 31st March 2024 400,000
Net book value
At 31st March 2024 -
At 31st March 2023 -

D Chisholm & Sons Ltd. (Registered number: SC229147)

Notes to the Financial Statements - continued
for the year ended 31st March 2024


5. Tangible fixed assets
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Cost
At 1st April 2023 1,019,157 151,463 126,372
Additions 256,759 5,341 2,006
At 31st March 2024 1,275,916 156,804 128,378
Depreciation
At 1st April 2023 64,504 118,820 76,292
Charge for year 25,518 4,740 5,337
At 31st March 2024 90,022 123,560 81,629
Net book value
At 31st March 2024 1,185,894 33,244 46,749
At 31st March 2023 954,653 32,643 50,080

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1st April 2023 487,842 2,887 1,787,721
Additions - 649 264,755
At 31st March 2024 487,842 3,536 2,052,476
Depreciation
At 1st April 2023 344,097 548 604,261
Charge for year 35,936 299 71,830
At 31st March 2024 380,033 847 676,091
Net book value
At 31st March 2024 107,809 2,689 1,376,385
At 31st March 2023 143,745 2,339 1,183,460

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 148,749 158,296
Other debtors 370,210 313,320
518,959 471,616

D Chisholm & Sons Ltd. (Registered number: SC229147)

Notes to the Financial Statements - continued
for the year ended 31st March 2024


7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 26,445 33,285
Taxation and social security 31,946 44,906
Other creditors 23,718 56,962
82,109 135,153

8. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
£    £   
G J Chisholm
Balance outstanding at start of year 38,165 29,482
Amounts advanced 52,495 52,575
Amounts repaid (122,147 ) (43,892 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (31,487 ) 38,165

9. Related party disclosures

G M Chisholm

A company in which Mr Chisholm is a shareholder


2024 2023
£    £   
Amount due from related party at the balance sheet date 152,024 140,777