| Registered Number:SC517354 |
For the year ended 31 October 2024
Scotland
Unaudited Financial Statements
Diggin Furniture Ltd
Statement of Financial Position
2023
2024
| Property, plant and equipment |
46,202
51,449
2
46,202
51,449
| Trade and other receivables |
3,262
9,005
3
48,053
| Cash and cash equivalents |
2,687
11,692
51,315
| Trade and other payables: amounts falling due within one |
| year |
(31,209)
(27,889)
4
20,106
(16,197)
Net current liabilities
| Total assets less current liabilities |
30,005
71,555
| Trade and other payables: amounts falling due after more |
| than one year |
(30,672)
(19,561)
5
10,444
Net assets
40,883
100
100
10,344
40,783
10,444
40,883
Shareholders' funds
| For the year ended 31 October 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| 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 director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
| These financial statements were approved and authorised for issue by the Board on 05 June 2025 and were signed by: |
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For the year ended 31 October 2024
Diggin Furniture Ltd
Statement of Financial Position Continued
| The notes form part of these financial statements |
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For the year ended 31 October 2024
Diggin Furniture Ltd
Notes to the Financial Statements
Statutory Information
| Diggin Furniture Ltd is a private limited company, limited by shares, domiciled in Scotland, registration number |
| SC517354. |
Unit 1A Newbattle Abbey Business Park
Newbattle Road
Newbattle
Eskbank
EH22 3LJ
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
| modified by the revaluation of certain assets. |
Revenue recognition
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and machinery
Computer equipment
Motor vehicles
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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For the year ended 31 October 2024
Diggin Furniture Ltd
Notes to the Financial Statements Continued
| 2. Property, plant and equipment |
Motor vehicles
132,693
3,365
37,145
92,183
10,155
3,727
-
6,428
98,611
37,145
7,092
142,848
| Provision for depreciation and impairment |
81,244
2,080
14,969
64,195
Charge for year
15,402
1,253
5,544
8,605
96,646
3,333
20,513
72,800
25,811
16,632
3,759
46,202
27,988
22,176
1,285
51,449
| 3. Trade and other receivables |
2023
2024
9,005
3,262
| Short-term debtors are measured at fair value at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and measured subsequently at amortised cost using the effective interest method, less any impairment. |
| 4. Trade and other payables: amounts falling due within one year |
2023
2024
140
6,076
| Taxation and social security |
26,549
23,461
1,200
1,672
27,889
31,209
| Short-term creditors are measured at the transaction price. Other financial laibilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| 5. Trade and other payables: amounts falling due after more than one year |
2023
2024
19,561
30,672
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For the year ended 31 October 2024
Diggin Furniture Ltd
Notes to the Financial Statements Continued
| 6. Average number of persons employed |
During the year the average number of employees was 8 (2023 : 8)
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