Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-302023-12-3092023-01-01falseNo description of principal activity8truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC481828 2023-01-01 2023-12-30 SC481828 2022-01-01 2022-12-31 SC481828 2023-12-30 SC481828 2022-12-31 SC481828 c:CompanySecretary1 2023-01-01 2023-12-30 SC481828 c:Director1 2023-01-01 2023-12-30 SC481828 c:Director2 2023-01-01 2023-12-30 SC481828 c:RegisteredOffice 2023-01-01 2023-12-30 SC481828 d:Buildings 2023-01-01 2023-12-30 SC481828 d:Buildings 2023-12-30 SC481828 d:Buildings 2022-12-31 SC481828 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-30 SC481828 d:PlantMachinery 2023-01-01 2023-12-30 SC481828 d:PlantMachinery 2023-12-30 SC481828 d:PlantMachinery 2022-12-31 SC481828 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-30 SC481828 d:MotorVehicles 2023-01-01 2023-12-30 SC481828 d:MotorVehicles 2023-12-30 SC481828 d:MotorVehicles 2022-12-31 SC481828 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-30 SC481828 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-30 SC481828 d:CurrentFinancialInstruments 2023-12-30 SC481828 d:CurrentFinancialInstruments 2022-12-31 SC481828 d:Non-currentFinancialInstruments 2023-12-30 SC481828 d:Non-currentFinancialInstruments 2022-12-31 SC481828 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-30 SC481828 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC481828 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-30 SC481828 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 SC481828 d:ShareCapital 2023-12-30 SC481828 d:ShareCapital 2022-12-31 SC481828 d:RetainedEarningsAccumulatedLosses 2023-12-30 SC481828 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC481828 c:OrdinaryShareClass1 2023-01-01 2023-12-30 SC481828 c:OrdinaryShareClass1 2023-12-30 SC481828 c:OrdinaryShareClass1 2022-12-31 SC481828 c:FRS102 2023-01-01 2023-12-30 SC481828 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-30 SC481828 c:FullAccounts 2023-01-01 2023-12-30 SC481828 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-30 SC481828 2 2023-01-01 2023-12-30 SC481828 6 2023-01-01 2023-12-30 SC481828 e:PoundSterling 2023-01-01 2023-12-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC481828










DISCOVERY HOMES (DUNDEE) LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023

 
DISCOVERY HOMES (DUNDEE) LTD
 

COMPANY INFORMATION


Directors
Mr J G F White 
Mrs L E White 




Company secretary
Mrs Linda White



Registered number
SC481828



Registered office
26 Bruce Gardens

Dunfermline

KY11 8HG




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
DISCOVERY HOMES (DUNDEE) LTD
REGISTERED NUMBER: SC481828

STATEMENT OF FINANCIAL POSITION
AS AT 30 DECEMBER 2023

30 December
31 December
2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
824,742
597,067

Investments
 5 
2
2

  
824,744
597,069

Current assets
  

Stocks
  
1,044,432
727,230

Debtors: amounts falling due within one year
 6 
754,912
664,450

Cash at bank and in hand
  
136,509
297,401

  
1,935,853
1,689,081

Creditors: amounts falling due within one year
 7 
(1,477,180)
(1,831,708)

Net current assets/(liabilities)
  
 
 
458,673
 
 
(142,627)

Total assets less current liabilities
  
1,283,417
454,442

Creditors: amounts falling due after more than one year
 8 
(961,314)
(109,528)

Provisions for liabilities
  

Deferred tax
  
(11,615)
(57,129)

  
 
 
(11,615)
 
 
(57,129)

Net assets
  
310,488
287,785


Capital and reserves
  

Called up share capital 
 9 
10,000
10,000

Profit and loss account
  
300,488
277,785

  
310,488
287,785


Page 1

 
DISCOVERY HOMES (DUNDEE) LTD
REGISTERED NUMBER: SC481828

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 April 2025.




Mr J G F White
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
DISCOVERY HOMES (DUNDEE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023

1.


General information

Discovery Homes (Dundee) Ltd is a private company, limited by shares, domiciled in Scotland with registration number SC481828. The registered office is 26 Bruce Gardens, Dunfermline, Scotland, KY11 8HG. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 3

 
DISCOVERY HOMES (DUNDEE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
DISCOVERY HOMES (DUNDEE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
Reducing balance
Motor vehicles
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

During the year, the directors made the decision to change the annual depreciation accounting estimate for Plant and Machinery from 20% reducing balance per annum to 10% reducing balance per annum, as this revised method better reflects the entity's consumption and anticipated replacement cycle for this asset category. 

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
DISCOVERY HOMES (DUNDEE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the period was 9 (2022 - 8).


4.


Tangible fixed assets







Freehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 January 2023
377,010
305,740
80,673
763,423


Additions
-
694,625
-
694,625


Disposals
(377,010)
-
-
(377,010)



At 30 December 2023

-
1,000,365
80,673
1,081,038



Depreciation


At 1 January 2023
7,540
113,185
45,631
166,356


Charge for the period on owned assets
-
88,719
8,761
97,480


Disposals
(7,540)
-
-
(7,540)



At 30 December 2023

-
201,904
54,392
256,296



Net book value



At 30 December 2023
-
798,461
26,281
824,742



At 31 December 2022
369,470
192,555
35,042
597,067


5.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
2



At 30 December 2023
2




Page 6

 
DISCOVERY HOMES (DUNDEE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023

6.


Debtors

30 December
31 December
2023
2022
£
£


Amounts owed by group undertakings
316,912
316,912

Other debtors
438,000
73,353

Prepayments and accrued income
-
274,185

754,912
664,450



7.


Creditors: Amounts falling due within one year

30 December
31 December
2023
2022
£
£

Bank loans
10,143
9,893

Trade creditors
666,761
249,760

Other taxation and social security
56,385
8,501

Obligations under finance lease and hire purchase contracts
110,364
30,200

Other creditors
619,027
784,413

Accruals and deferred income
14,500
748,941

1,477,180
1,831,708


There is a standard security charge over the ground used in the company's activities and a floating charge in place over all the company's property in favour of the company's bankers. 
Obligations under hire purchase contracts are secured against the asset they relate too. 


8.


Creditors: Amounts falling due after more than one year

30 December
31 December
2023
2022
£
£

Bank loans
14,694
24,837

Net obligations under finance leases and hire purchase contracts
374,217
84,691

Other creditors
572,403
-

961,314
109,528


There is a standard security charge over the ground used in the company's activities and a floating charge in place over all the company's property in favour of the company's bankers. 
Obligations under hire purchase contracts are secured against the asset they relate too. 

Page 7

 
DISCOVERY HOMES (DUNDEE) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023

9.


Share capital

30 December
31 December
2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares of £1.00 each
10,000
10,000


Page 8