DE RECOVERIES LIMITED


Director	Mrs E Beattie


Registered Address	Unit 14 Fountain Business Centre
	Ellis Street
	Coatbridge
	ML5 3AA


Registered Number	SC493141 (Scotland)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		14,614		18,268
			14,614		18,268
Current assets
Debtors	4	32,782		33,745
Cash at bank and on hand		418		1,571
		33,200		35,316
Creditors amounts falling due within one year	5	(35,828)		(31,472)
Net current assets (liabilities)			(2,628)		3,844
Total assets less current liabilities			11,986		22,112
Creditors amounts falling due after one year	6		(11,772)		(21,433)
Net assets			214		679
Capital and reserves
Called up share capital			100		100
Profit and loss account			114		579
Shareholders' funds			214		679

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 18 September 2025, and are signed on its behalf by:

Mrs E Beattie
Director
Registered Company No. SC493141

DE RECOVERIES LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered office address is Unit 14, Fountain Business Centre, Ellis Street, Coatbridge, Scotland, ML5 3AA.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is attributable to the one principal activity of the company being that of vehicle recovery and is recognised when a service is delivered to the customer.

	Current taxation
	Current tax is recognised in profit or loss and represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss and represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Tangible fixed assets and depreciation
	Tangible assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Computers - 33% straight line Motor vehicles - 20% on reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

Tangible fixed assets and depreciation

Tangible assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers                                                                     - 33% straight line
Motor vehicles                                                               - 20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately within current liabilities.

	Financial instruments
	The company only enters into basic financial instruments that result in the recognition of financial assets like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	7		6

3.	Tangible fixed assets

	Vehicles	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 January 24	20,298	1,355	21,653
At 31 December 24	20,298	1,355	21,653
Depreciation and impairment
At 01 January 24	2,030	1,355	3,385
Charge for year	3,654	-	3,654
At 31 December 24	5,684	1,355	7,039
Net book value
At 31 December 24	14,614	-	14,614
At 31 December 23	18,268	-	18,268


	Included in the above are fixed assets which are held under hire purchase contracts. Fixed assets under hire purchase contracts held this year have a cost of £20,298 (2023 £20,298) and depreciation has been charged to date of £2,030 (2022 - £5,926). The total net book value at the year end is £14,614 (2023 - £18,268).

4.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	4,720	5,901
Other debtors	25,933	27,844
Prepayments and accrued income	2,129	-
Total	32,782	33,745

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Bank borrowings and overdrafts	11,816	7,063
Taxation and social security	9,864	15,404
Finance lease and HP contracts	3,661	3,661
Other creditors	3,389	-
Accrued liabilities and deferred income	7,098	5,344
Total	35,828	31,472

6.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	2,314	8,314
Other creditors	9,458	13,119
Total	11,772	21,433

7.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	13,119		16,781

8.	Related party transactions
	During the current year, there were amounts repaid of £2,010 by the director and shareholders. The balance due from the director/shareholders at the year end was £18.057 (2023: £20,067).