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Company registration number: SC583241
DBCC Operating Co Ltd
Unaudited filleted financial statements
30 June 2024
DBCC Operating Co Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
DBCC Operating Co Ltd
Directors and other information
Directors
Jean Muir
Philip Proctor
Lesley Mackay
Karen McMeeken
Company number SC583241
Registered office Dumfries Baptist Church
Gillbrae Road
Dumfries
Dumfriesshire
DG1 4EJ
Accountants Carson & Trotter
123 Irish Street
Dumfries
DG1 2PE
DBCC Operating Co Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of DBCC Operating Co Ltd
Year ended 30th June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DBCC Operating Co Ltd for the year ended 30th June 2024 which comprise the statement of financial position and 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 board of directors of DBCC Operating Co Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of DBCC Operating Co Ltd and state those matters that we have agreed to state to the board of directors of DBCC Operating Co Ltd as a body, 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 DBCC Operating Co Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that DBCC Operating Co 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 DBCC Operating Co Ltd. You consider that DBCC Operating Co 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 DBCC Operating Co 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.
Carson & Trotter
Chartered Accountants
123 Irish Street
Dumfries
DG1 2PE
29th November 2024
DBCC Operating Co Ltd
Statement of financial position
30th June 2024
2024 2023
Note £ £ £ £
Current assets
Stocks 870 1,560
Debtors 5 4,267 5,774
Cash at bank and in hand 14,538 9,811
_______ _______
19,675 17,145
Creditors: amounts falling due
within one year 6 ( 10,065) ( 10,147)
_______ _______
Net current assets 9,610 6,998
_______ _______
Total assets less current liabilities 9,610 6,998
_______ _______
Net assets 9,610 6,998
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 9,609 6,997
_______ _______
Shareholders funds 9,610 6,998
_______ _______
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 November 2024 , and are signed on behalf of the board by:
Philip Proctor
Director
Company registration number: SC583241
DBCC Operating Co Ltd
Notes to the financial statements
Year ended 30th June 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Dumfries Baptist Church, Gillbrae Road, Dumfries, Dumfriesshire, DG1 4EJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2023: 13 ).
5. Debtors
2024 2023
£ £
Trade debtors 2,710 4,038
Other debtors 1,557 1,736
_______ _______
4,267 5,774
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 184 140
Social security and other taxes 7,824 7,249
Other creditors 2,057 2,758
_______ _______
10,065 10,147
_______ _______
7. Related party transactions
During the year DBCC Operating Co Ltd did not provide any goods and services to its parent company, Dumfries Baptist Church (2023: £NIL). At 30 June 2024 an amount of £NIL (2023: £NIL) was owing to DBCC Operating Company.
8. Controlling party
Dumfries Baptist Church, a company limited by guarantee incorporated 10th May 2016 owns 100% of the share capital of DBCC Operating Co Ltd.