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2023-07-01
Sage Accounts Production Advanced 2024 - FRS102_2024
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SC710073
2023-07-01
2024-06-30
SC710073
2024-06-30
SC710073
2023-06-30
SC710073
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2023-06-30
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2022-06-30
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2024-06-30
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2024-06-30
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2024-06-30
COMPANY REGISTRATION NUMBER:
SC710073
Filleted Unaudited Financial Statements |
|
Year ended 30 June 2024
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
4 |
|
|
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Dine Canonmills Limited |
|
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dine Canonmills Limited for the year ended 30 June 2024, which comprise the statement of financial position 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 www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Dine Canonmills Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Dine Canonmills Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dine Canonmills Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Dine Canonmills 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 Dine Canonmills Limited. You consider that Dine Canonmills 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 Dine Canonmills 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.
GILLILAND & COMPANY
Chartered Accountants
216 West George Street
Glasgow
G2 2PQ
27 June 2025
Statement of Financial Position |
|
30 June 2024
Fixed assets
Tangible assets |
5 |
88,787 |
137,966 |
|
|
|
|
Current assets
Stocks |
10,285 |
15,783 |
Debtors |
6 |
55,462 |
40,679 |
Cash at bank and in hand |
85,228 |
200,803 |
|
--------- |
--------- |
|
150,975 |
257,265 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
267,952 |
399,664 |
|
--------- |
--------- |
Net current liabilities |
116,977 |
142,399 |
|
--------- |
--------- |
Total assets less current liabilities |
(
28,190) |
(
4,433) |
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
7,083 |
18,600 |
|
-------- |
-------- |
Net liabilities |
(
35,273) |
(
23,033) |
|
-------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
100 |
100 |
Profit and loss account |
(
35,373) |
(
23,133) |
|
-------- |
-------- |
Shareholders deficit |
(
35,273) |
(
23,033) |
|
-------- |
-------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
30 June 2024
These financial statements were approved by the
board of directors
and authorised for issue on
27 June 2025
, and are signed on behalf of the board by:
Company registration number:
SC710073
Notes to the Financial Statements |
|
Year ended 30 June 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 8 Murrayfield Place, Edinburgh, Midlothian, EH12 6AA, Scotland.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is reliant on the support of the director in order to continue in operational existence and meet its liabilities as they fall due. The director is satisfied that he will continue to support the company and as such the going concern basis is appropriate for the preparation of the accounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings |
- |
25% reducing balance |
|
Equipment |
- |
25% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
18
(2023:
19
).
5.
Tangible assets
|
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 July 2023 |
193,929 |
3,269 |
197,198 |
Disposals |
(
20,000) |
– |
(
20,000) |
|
--------- |
------- |
--------- |
At 30 June 2024 |
173,929 |
3,269 |
177,198 |
|
--------- |
------- |
--------- |
Depreciation |
|
|
|
At 1 July 2023 |
58,498 |
734 |
59,232 |
Charge for the year |
28,961 |
634 |
29,595 |
Disposals |
(
416) |
– |
(
416) |
|
--------- |
------- |
--------- |
At 30 June 2024 |
87,043 |
1,368 |
88,411 |
|
--------- |
------- |
--------- |
Carrying amount |
|
|
|
At 30 June 2024 |
86,886 |
1,901 |
88,787 |
|
--------- |
------- |
--------- |
At 30 June 2023 |
135,431 |
2,535 |
137,966 |
|
--------- |
------- |
--------- |
|
|
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
30,081 |
37,581 |
Other debtors |
25,381 |
3,098 |
|
-------- |
-------- |
|
55,462 |
40,679 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
36,297 |
54,048 |
Social security and other taxes |
39,439 |
33,700 |
Other creditors |
192,216 |
311,916 |
|
--------- |
--------- |
|
267,952 |
399,664 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Other creditors |
7,083 |
18,600 |
|
------- |
-------- |
|
|
|
9.
Related party transactions
As at the 30 June 2024 the company owed to Dine Murrayfield Limited, a company in which the directors have an interest in, the sum of £
190,010
(2023: £272,500). As at the 30 June 2024 the company was owed from Dine Events Limited, a company in which the directors have an interest in, the sum of £ 18,940
(2023: £Nil).