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REGISTERED NUMBER: SC310752 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Daval Machining Services Limited

Daval Machining Services Limited (Registered number: SC310752)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

Daval Machining Services Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: D V Roberts
D Marion





REGISTERED OFFICE: 55-57 West High Street
INVERURIE
AB51 3QQ





REGISTERED NUMBER: SC310752 (Scotland)





ACCOUNTANTS: Atholl Scott
55-57 West High Street
INVERURIE
AB51 3QQ

Daval Machining Services Limited (Registered number: SC310752)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 251,122 129,755

CURRENT ASSETS
Stocks 3,154 2,954
Debtors 5 169,657 207,036
Cash at bank and in hand 88,191 90,497
261,002 300,487
CREDITORS
Amounts falling due within one
year

6

(85,715

)

(119,076

)
NET CURRENT ASSETS 175,287 181,411
TOTAL ASSETS LESS CURRENT
LIABILITIES

426,409

311,166

CREDITORS
Amounts falling due after more
than one year

7

(111,837

)

(9,627

)

PROVISIONS FOR LIABILITIES 9 (57,758 ) -
NET ASSETS 256,814 301,539

CAPITAL AND RESERVES
Called up share capital 8 8
Retained earnings 256,806 301,531
SHAREHOLDERS' FUNDS 256,814 301,539

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Daval Machining Services Limited (Registered number: SC310752)

Balance Sheet - continued
31 October 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 Board of Directors and authorised for issue on 7 April 2025 and were signed on its behalf by:




D V Roberts - Director



D Marion - Director


Daval Machining Services Limited (Registered number: SC310752)

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

1. STATUTORY INFORMATION

Daval Machining Services 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.

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 represents amounts receivable for goods sold and services rendered during the year, exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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 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.

Daval Machining Services Limited (Registered number: SC310752)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 426,060 3,236 12,649 20,760 462,705
Additions 169,450 - - - 169,450
Disposals (56,000 ) - - - (56,000 )
At 31 October 2024 539,510 3,236 12,649 20,760 576,155
DEPRECIATION
At 1 November 2023 299,843 1,027 12,115 19,965 332,950
Charge for year 43,822 331 134 263 44,550
Eliminated on disposal (52,467 ) - - - (52,467 )
At 31 October 2024 291,198 1,358 12,249 20,228 325,033
NET BOOK VALUE
At 31 October 2024 248,312 1,878 400 532 251,122
At 31 October 2023 126,217 2,209 534 795 129,755

Daval Machining Services Limited (Registered number: SC310752)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 November 2023 169,885
Additions 169,450
At 31 October 2024 339,335
DEPRECIATION
At 1 November 2023 94,506
Charge for year 36,725
At 31 October 2024 131,231
NET BOOK VALUE
At 31 October 2024 208,104
At 31 October 2023 75,379

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 154,993 198,323
Directors' loan accounts 4,500 -
Tax recoverable 5,021 -
Prepayments 5,143 8,713
169,657 207,036

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts (see note 8)
39,450

28,880
Trade creditors 20,287 10,656
Tax - 41,080
PAYE 5,123 3,683
VAT 14,212 25,388
Accrued expenses 6,643 9,389
85,715 119,076

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts (see note 8)
111,837

9,627

Daval Machining Services Limited (Registered number: SC310752)

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

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.10.24 31.10.23
£    £   
Net obligations repayable:
Within one year 39,450 28,880
Between one and five years 111,837 9,627
151,287 38,507

Non-cancellable operating leases
31.10.24 31.10.23
£    £   
Within one year 28,900 -

9. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax 57,758 -

Deferred
tax
£   
Provided during year 57,758
Balance at 31 October 2024 57,758

Advances and repayments during the year have been summarised. The above loan is in unsecured, interest free and repayable on demand.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.10.24 31.10.23
£    £   
D V Roberts
Balance outstanding at start of year - -
Amounts advanced 4,500 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,500 -

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £91,712 were paid to the directors .



12. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Daval Machining Services Limited

The following reproduces the text of the report prepared for the directors 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 Directors 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 Daval Machining Services Limited for the year ended 31 October 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.

This report is made solely to the Board of Directors of Daval Machining Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Daval Machining Services Limited and state those matters that we have agreed to state to the Board of Directors of Daval Machining Services Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Daval Machining Services 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 Daval Machining Services Limited. You consider that Daval Machining Services 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 Daval Machining Services 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.

As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/publicinterest/memberregulations.






Atholl Scott
55-57 West High Street
INVERURIE
AB51 3QQ


7 April 2025