Silverfin false false 30/06/2024 01/07/2023 30/06/2024 F Davidson 02/03/2004 R S Davidson 28/04/2021 S R Davidson 02/03/2004 F Davidson 27 March 2025 The principal activity of the company continued to be that of electrical engineers. SC264289 2024-06-30 SC264289 bus:Director1 2024-06-30 SC264289 bus:Director2 2024-06-30 SC264289 bus:Director3 2024-06-30 SC264289 2023-06-30 SC264289 core:CurrentFinancialInstruments 2024-06-30 SC264289 core:CurrentFinancialInstruments 2023-06-30 SC264289 core:ShareCapital 2024-06-30 SC264289 core:ShareCapital 2023-06-30 SC264289 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC264289 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC264289 core:PlantMachinery 2023-06-30 SC264289 core:Vehicles 2023-06-30 SC264289 core:PlantMachinery 2024-06-30 SC264289 core:Vehicles 2024-06-30 SC264289 bus:OrdinaryShareClass1 2024-06-30 SC264289 2023-07-01 2024-06-30 SC264289 bus:FilletedAccounts 2023-07-01 2024-06-30 SC264289 bus:SmallEntities 2023-07-01 2024-06-30 SC264289 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC264289 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC264289 bus:Director1 2023-07-01 2024-06-30 SC264289 bus:Director2 2023-07-01 2024-06-30 SC264289 bus:Director3 2023-07-01 2024-06-30 SC264289 bus:CompanySecretary1 2023-07-01 2024-06-30 SC264289 core:PlantMachinery 2023-07-01 2024-06-30 SC264289 core:Vehicles 2023-07-01 2024-06-30 SC264289 2022-07-01 2023-06-30 SC264289 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 SC264289 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC264289 (Scotland)

SR DAVIDSON LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

SR DAVIDSON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

SR DAVIDSON LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024
SR DAVIDSON LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 45,650 60,807
45,650 60,807
Current assets
Stocks 3,000 3,150
Debtors 4 90,133 116,681
Cash at bank and in hand 186,145 158,656
279,278 278,487
Creditors: amounts falling due within one year 5 ( 91,842) ( 23,833)
Net current assets 187,436 254,654
Total assets less current liabilities 233,086 315,461
Provision for liabilities 6 ( 10,444) ( 14,172)
Net assets 222,642 301,289
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 222,542 301,189
Total shareholders' funds 222,642 301,289

For the financial 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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of SR Davidson Limited (registered number: SC264289) were approved and authorised for issue by the Board of Directors on 27 March 2025. They were signed on its behalf by:

F Davidson
Director
SR DAVIDSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
SR DAVIDSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

SR Davidson Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Cruadalach, Charlestown Road, Aboyne, AB34 5EJ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for electrical engineering services provided in the normal course of business, and is shown net of VAT

Revenue from contracts for the provision of electrical engineering services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 July 2023 6,222 109,116 115,338
At 30 June 2024 6,222 109,116 115,338
Accumulated depreciation
At 01 July 2023 5,779 48,752 54,531
Charge for the financial year 66 15,091 15,157
At 30 June 2024 5,845 63,843 69,688
Net book value
At 30 June 2024 377 45,273 45,650
At 30 June 2023 443 60,364 60,807

4. Debtors

2024 2023
£ £
Trade debtors 56,820 61,399
Corporation tax 0 12,245
Other debtors 33,313 43,037
90,133 116,681

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 20,876 12,922
Taxation and social security 14,779 0
Other creditors 56,187 10,911
91,842 23,833

6. Provision for liabilities

2024 2023
£ £
Deferred tax 10,444 14,172

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due to related parties - Key management personnel 42,172 2,172

This loan is interest free and repayment on demand.