IRIS Accounts Production v24.3.2.46 SC231431 director 1.8.23 31.7.24 31.7.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2314312023-07-31SC2314312024-07-31SC2314312023-08-012024-07-31SC2314312022-07-31SC2314312022-08-012023-07-31SC2314312023-07-31SC231431ns15:Scotland2023-08-012024-07-31SC231431ns14:PoundSterling2023-08-012024-07-31SC231431ns10:Director12023-08-012024-07-31SC231431ns10:PrivateLimitedCompanyLtd2023-08-012024-07-31SC231431ns10:SmallEntities2023-08-012024-07-31SC231431ns10:AuditExemptWithAccountantsReport2023-08-012024-07-31SC231431ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-31SC231431ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-31SC231431ns10:FullAccounts2023-08-012024-07-31SC231431ns10:RegisteredOffice2023-08-012024-07-31SC231431ns5:CurrentFinancialInstruments2024-07-31SC231431ns5:CurrentFinancialInstruments2023-07-31SC231431ns5:Non-currentFinancialInstruments2024-07-31SC231431ns5:Non-currentFinancialInstruments2023-07-31SC231431ns5:ShareCapital2024-07-31SC231431ns5:ShareCapital2023-07-31SC231431ns5:RetainedEarningsAccumulatedLosses2024-07-31SC231431ns5:RetainedEarningsAccumulatedLosses2023-07-31SC231431ns5:LandBuildings2023-08-012024-07-31SC231431ns5:PlantMachinery2023-08-012024-07-31SC231431ns5:LandBuildings2023-07-31SC231431ns5:PlantMachinery2023-07-31SC231431ns5:LandBuildings2024-07-31SC231431ns5:PlantMachinery2024-07-31SC231431ns5:LandBuildings2023-07-31SC231431ns5:PlantMachinery2023-07-31SC231431ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-31SC231431ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31SC231431ns5:Secured2024-07-31SC231431ns5:Secured2023-07-31
REGISTERED NUMBER: SC231431 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

SAB Dinsmore (Motherwell) Limited

SAB Dinsmore (Motherwell) Limited (Registered number: SC231431)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

SAB Dinsmore (Motherwell) Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: G Sinclair





REGISTERED OFFICE: 29 Brandon Street
Hamilton
ML3 6DA





REGISTERED NUMBER: SC231431 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

SAB Dinsmore (Motherwell) Limited (Registered number: SC231431)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 67,414 73,542

CURRENT ASSETS
Stocks 26,822 24,400
Debtors 6 36,503 29,353
Cash at bank and in hand 8,172 5,045
71,497 58,798
CREDITORS
Amounts falling due within one year 7 75,383 68,418
NET CURRENT LIABILITIES (3,886 ) (9,620 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,528

63,922

CREDITORS
Amounts falling due after more than one
year

8

8,319

18,323
NET ASSETS 55,209 45,599

CAPITAL AND RESERVES
Called up share capital 132 132
Retained earnings 55,077 45,467
SHAREHOLDERS' FUNDS 55,209 45,599

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

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

SAB Dinsmore (Motherwell) Limited (Registered number: SC231431)

Balance Sheet - continued
31 July 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 11 March 2025 and were signed by:





G Sinclair - Director


SAB Dinsmore (Motherwell) Limited (Registered number: SC231431)

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

1. STATUTORY INFORMATION

SAB Dinsmore (Motherwell) 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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

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

Turnover and revenue recognition
Turnover is derived from the various optical goods and services supplied by the company operating as an opticians.

Turnover therefore represents the fair value of optical goods and services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Over the period of lease
Plant and machinery etc - 25% on cost

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.


SAB Dinsmore (Motherwell) Limited (Registered number: SC231431)

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

3. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 140,960 7,605 148,565
DEPRECIATION
At 1 August 2023 67,418 7,605 75,023
Charge for year 6,128 - 6,128
At 31 July 2024 73,546 7,605 81,151
NET BOOK VALUE
At 31 July 2024 67,414 - 67,414
At 31 July 2023 73,542 - 73,542

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,206 25,083
Other debtors 6,297 4,270
36,503 29,353

SAB Dinsmore (Motherwell) Limited (Registered number: SC231431)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 28,799 31,044
Trade creditors 23,133 10,963
Taxation and social security 18,614 13,520
Other creditors 4,837 12,891
75,383 68,418

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,319 18,323

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 18,799 21,044
Bank loans 18,319 28,323
37,118 49,367

Bank facilities are secured by a bond and floating charge over all property, assets and undertakings of SAB Dinsmore (Motherwell) Limited.

The bank loan is supported by 100% guarantee from the UK Government.

10. RELATED PARTY DISCLOSURES

The company operates a loan account with the director, G Sinclair. At the year end, the balance due to the director was £2,121 (2023: £9,850). This loan is unsecured, interest free and has no fixed repayment terms.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
SAB Dinsmore (Motherwell) Limited

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 SAB Dinsmore (Motherwell) Limited for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 SAB Dinsmore (Motherwell) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SAB Dinsmore (Motherwell) Limited and state those matters that we have agreed to state to the director of SAB Dinsmore (Motherwell) Limited 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 SAB Dinsmore (Motherwell) Limited 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 SAB Dinsmore (Motherwell) Limited. You consider that SAB Dinsmore (Motherwell) Limited 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 SAB Dinsmore (Motherwell) Limited. 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.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


11 March 2025