Registration number: SC338244

D & R Contractors Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 11

D & R Contractors Ltd

Company Information

Directors

David Laurence Nicolson Wilda Marie Nicolson

Registered office

Lower Longskule Twatt Bixter Shetland ZE2 9LX

Accountants

BML Accounts Limited 2-4 Alexandra Building Esplanade Lerwick Shetland ZE1 0LL

D & R Contractors Ltd

(Registration number: SC338244)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	15,761	19,329
Tangible assets	5	231,591	257,652
		247,352	276,981
Current assets
Stocks	6	3,300	3,750
Debtors	7	70,701	106,892
Cash at bank and in hand		198,438	241,534
		272,439	352,176
Creditors: Amounts falling due within one year	8	(35,152)	(127,082)
Net current assets		237,287	225,094
Total assets less current liabilities		484,639	502,075
Provisions for liabilities		(46,997)	(64,413)
Net assets		437,642	437,662
Capital and reserves
Called up share capital	9	100	100
Retained earnings		437,542	437,562
Shareholders' funds		437,642	437,662

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

......................................... David Laurence Nicolson Director

D & R Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Lower Longskule
Twatt
Bixter
Shetland
ZE2 9LX
Scotland

These financial statements were authorised for issue by the Board on 29 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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 taxable income.

D & R Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & Equipment	20% reducing balance
Motor Vehicles	20% reducing balance
Office Equipment & IT	20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Intangibles	5% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

D & R Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

D & R Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 4).

D & R Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	71,364	71,364
At 31 December 2024	71,364	71,364
Amortisation
At 1 January 2024	52,035	52,035
Amortisation charge	3,568	3,568
At 31 December 2024	55,603	55,603
Carrying amount
At 31 December 2024	15,761	15,761
At 31 December 2023	19,329	19,329

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 January 2024	6,523	58,648	556,316	621,487
Additions	616	-	31,222	31,838
At 31 December 2024	7,139	58,648	587,538	653,325
Depreciation
At 1 January 2024	4,840	10,443	348,552	363,835
Charge for the year	460	9,641	47,798	57,899
At 31 December 2024	5,300	20,084	396,350	421,734
Carrying amount
At 31 December 2024	1,839	38,564	191,188	231,591
At 31 December 2023	1,683	48,205	207,764	257,652

6

Stocks

D & R Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

	2024 £	2023 £
Work in progress	1,500	2,250
Other inventories	1,800	1,500
	3,300	3,750

7

Debtors

Current	2024 £	2023 £
Trade debtors	59,017	96,515
Prepayments	11,099	10,377
Other debtors	585	-
	70,701	106,892

D & R Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	10	-	22,847
Trade creditors		1,086	55,729
Taxation and social security		31,372	45,992
Accruals and deferred income		2,200	1,600
Other creditors		494	914
		35,152	127,082

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

10	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Other borrowings	-	22,847

11

Dividends

		2024		2023
		£		£
Interim dividend of £4,000.00 (2023 - £4,000.00) per ordinary share		15,000		4,000

D & R Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

12	Related party transactions

D & R Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	6,000	6,000
Contributions paid to money purchase schemes	2,830	-
	8,830	6,000