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Registration number: 03803848

Doran Scott Williams & Co Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Doran Scott Williams & Co Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

Doran Scott Williams & Co Limited

(Registration number: 03803848)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

93,240

52,194

Current assets

 

Debtors

6

5,865,852

4,750,706

Other financial assets

5

572,945

540,304

Cash at bank and in hand

 

1,549,570

1,111,453

 

7,988,367

6,402,463

Creditors: Amounts falling due within one year

7

(3,268,689)

(2,230,010)

Net current assets

 

4,719,678

4,172,453

Total assets less current liabilities

 

4,812,918

4,224,647

Provisions for liabilities

(12,773)

-

Net assets

 

4,800,145

4,224,647

Capital and reserves

 

Called up share capital

90

90

Capital redemption reserve

10

10

Retained earnings

4,800,045

4,224,547

Shareholders' funds

 

4,800,145

4,224,647

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Doran Scott Williams & Co Limited

(Registration number: 03803848)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 9 April 2025 and signed on its behalf by:
 

.........................................
Mr P J T Doran
Director

 

Doran Scott Williams & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
9 Thorne Road
Doncaster
South Yorkshire
DN1 2HJ

The principal place of business is:
DSW House
Unit 3, Hayfield Business Park
Field Lane
Doncaster
South Yorkshire
DN9 3FL

These financial statements were authorised for issue by the Board on 9 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Doran Scott Williams & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

4 years on a straight line basis

Office equipment

33% per annum on a reducing balance basis

Motor vehicles

25% per annum on a reducing balance basis

 

Doran Scott Williams & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Doran Scott Williams & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 33 (2023 - 27).

 

Doran Scott Williams & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

398,114

48,814

446,928

Additions

33,477

52,848

86,325

Disposals

(320,673)

-

(320,673)

At 31 December 2024

110,918

101,662

212,580

Depreciation

At 1 January 2024

361,365

33,369

394,734

Charge for the year

23,867

17,073

40,940

Eliminated on disposal

(316,334)

-

(316,334)

At 31 December 2024

68,898

50,442

119,340

Carrying amount

At 31 December 2024

42,020

51,220

93,240

At 31 December 2023

36,749

15,445

52,194

 

Doran Scott Williams & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

At 1 January 2024

540,304

540,304

Fair value adjustments

32,641

32,641

At 31 December 2024

572,945

572,945

Carrying amount

At 31 December 2024

572,945

572,945

At 31 December 2023

540,304

540,304

 

Doran Scott Williams & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

898,461

1,016,727

Amounts owed by related parties

8

4,021,067

2,785,564

Other debtors

 

908,800

911,502

Prepayments

 

37,524

36,913

 

5,865,852

4,750,706

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

634,850

484,821

Taxation and social security

 

83,586

78,335

Corporation tax

 

262,957

263,229

Other creditors

 

31,623

29,462

Accrued expenses

 

2,255,673

1,374,163

 

3,268,689

2,230,010

 

Doran Scott Williams & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Related party transactions

Loans to related parties

2024

Entities with joint control or significant influence
£

Key management
£

Total
£

At start of period

1,798,676

986,888

2,785,564

Advanced

1,102,628

132,875

1,235,503

At end of period

2,901,304

1,119,763

4,021,067

2023

Entities with joint control or significant influence
£

Key management
£

Total
£

At start of period

1,586,339

905,015

2,491,354

Advanced

212,337

81,873

294,210

At end of period

1,798,676

986,888

2,785,564

Terms of loans to related parties

There are no repayment terms and interest is charged on the balance owed by key management. The directors are included within key management.