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REGISTERED NUMBER: SC163800 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Damada (Asbestos Removals) Limited

Damada (Asbestos Removals) Limited (Registered number: SC163800)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Damada (Asbestos Removals) Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr C L McCartney
Mr D McCartney





REGISTERED OFFICE: 29 Brandon Street
Hamilton
South Lanarkshire
ML3 6DA





REGISTERED NUMBER: SC163800 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Damada (Asbestos Removals) Limited (Registered number: SC163800)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 272,559 303,933

CURRENT ASSETS
Stocks 368,114 421,785
Debtors 6 487,011 720,437
Cash at bank 31 31
855,156 1,142,253
CREDITORS
Amounts falling due within one year 7 604,382 796,626
NET CURRENT ASSETS 250,774 345,627
TOTAL ASSETS LESS CURRENT
LIABILITIES

523,333

649,560

CREDITORS
Amounts falling due after more than one
year

8

(227,765

)

(241,903

)

PROVISIONS FOR LIABILITIES (51,786 ) (75,983 )
NET ASSETS 243,782 331,674

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 243,682 331,574
SHAREHOLDERS' FUNDS 243,782 331,674

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Damada (Asbestos Removals) Limited (Registered number: SC163800)

Balance Sheet - continued
31 August 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 29 May 2025 and were signed on its behalf by:





Mr D McCartney - Director


Damada (Asbestos Removals) Limited (Registered number: SC163800)

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

1. STATUTORY INFORMATION

Damada (Asbestos Removals) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from asbestos removal services supplied by the company.

Turnover is measured at the fair value of asbestos removal services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

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 etc - 25% on reducing balance and 20% on reducing balance

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.


Damada (Asbestos Removals) Limited (Registered number: SC163800)

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

3. ACCOUNTING POLICIES - continued
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 taxation
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement on a straight line basis.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 27 ) .

Damada (Asbestos Removals) Limited (Registered number: SC163800)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 609,131
Additions 56,469
Disposals (48,365 )
At 31 August 2024 617,235
DEPRECIATION
At 1 September 2023 305,198
Charge for year 77,926
Eliminated on disposal (38,448 )
At 31 August 2024 344,676
NET BOOK VALUE
At 31 August 2024 272,559
At 31 August 2023 303,933

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2023 387,683
Additions 56,469
Transfer to ownership (51,240 )
At 31 August 2024 392,912
DEPRECIATION
At 1 September 2023 128,096
Charge for year 66,973
Transfer to ownership (37,665 )
At 31 August 2024 157,404
NET BOOK VALUE
At 31 August 2024 235,508
At 31 August 2023 259,587

Damada (Asbestos Removals) Limited (Registered number: SC163800)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 405,494 588,888
Other debtors 81,517 131,549
487,011 720,437

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,827 21,048
Hire purchase contracts 55,308 50,244
Trade creditors 181,874 422,199
Taxation and social security 64,378 105,534
Other creditors 280,995 197,601
604,382 796,626

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,904 18,215
Hire purchase contracts 219,861 223,688
227,765 241,903

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 18,215 28,271
Hire purchase contracts 275,169 273,932
293,384 302,203

Hire purchase contracts are secured over the assets concerned.

The bank loan is 100% guaranteed by the UK Government under the BBLS.

Damada (Asbestos Removals) Limited (Registered number: SC163800)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
Mr D McCartney
Balance outstanding at start of year 6,356 8,485
Amounts advanced 15,631 13,371
Amounts repaid (34,775 ) (15,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (12,788 ) 6,356

Mr C L McCartney
Balance outstanding at start of year 52,926 55,230
Amounts advanced 45,000 59,696
Amounts repaid (58,500 ) (62,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 39,426 52,926

These loans are unsecured, interest fee and have no fixed repayment terms.

11. RELATED PARTY DISCLOSURES

Asbestos Building Surveys Limited

The company operates a loan with Asbestos Building Surveys Limited, a company which C L McCartney and D McCartney are directors.

At the year end, the balance owed to Asbestos Building Surveys Limited was £59,546 (2023 £44,195 owed from Asbestos Building Surveys Limited). The loan is unsecured, interest free and no fixed repayment terms.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Damada (Asbestos Removals) 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 Damada (Asbestos Removals) Limited for the year ended 31 August 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.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Damada (Asbestos Removals) 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 Damada (Asbestos Removals) Limited and state those matters that we have agreed to state to the Board of Directors of Damada (Asbestos Removals) Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. 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 Damada (Asbestos Removals) 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 loss of Damada (Asbestos Removals) Limited. You consider that Damada (Asbestos Removals) 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 Damada (Asbestos Removals) 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.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


29 May 2025