DG PROJECT SOLUTIONS LTD


Directors	MAXWELL, Keith
	MCMILLAN, Christopher William
	WILSON, Amanda Jane


Registered Address	Unit 8f Catherinefield Industrial Estate
	Dumfries
	DG1 3PQ


Registered Number	SC690833 (Scotland)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	15	-
Vehicles	25	-
Office Equipment	-	3

	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 Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

	Government grants or assistance
	Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Income Statement at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

Government grants or assistance

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Income Statement at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. 

Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	12		13

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 24	8,245	39,738	3,245	51,228
Additions	2,801	18,000	-	20,801
At 31 March 25	11,046	57,738	3,245	72,029
Depreciation and impairment
At 01 April 24	1,419	15,857	1,971	19,247
Charge for year	1,198	6,720	832	8,750
At 31 March 25	2,617	22,577	2,803	27,997
Net book value
At 31 March 25	8,429	35,161	442	44,032
At 31 March 24	6,826	23,881	1,274	31,981

4.	Stocks

	2025	2024
	£	£
Work in progress	-	13,805
Other stocks	4,750	2,872
Total	4,750	16,677

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	65,929	145,011
Other debtors	51,114	22,276
Total	117,043	167,287

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	198,365	71,512
Bank borrowings and overdrafts	3,141	3,379
Taxation and social security	86,712	41,141
Finance lease and HP contracts	6,840	-
Other creditors	1,972	3,865
Accrued liabilities and deferred income	83,461	3,082
Total	380,491	122,979

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	-	3,141
Other creditors	12,690	-
Total	12,690	3,141

8.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	19,530		-


	Finance lease and HP contracts are secured over the assets to which they relate.

9.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	11,500	8,341
Total	11,500	8,341

10.	Pension commitments
	The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independenly administered fund. At the balance sheet date, the company owed the pension fund £1,972 (2024: £1382).

11.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
WILSON, Amanda Jane	4,450	12,888	9,732	7,606
MCMILLAN, Christopher William	2,899	25,711	16,039	12,571
MAXWELL, Keith	6,994	24,926	19,124	12,796
	14,343	63,525	44,895	32,973


	During the period the three directors had loan accounts with the company. At 1 April 2024, the directors owed the company a total of £14,343. During the year the company provided loan advances of £63,525 and repaid £44,895. At 31 March 2025, the directors owed the company a total of £32,973. Interest of £325 has been charged on these loan balances.

12.	Further information regarding the company's financial position
	During the year the company has undergone conversion from FRS 105 to FRS 102(1a). The comparative statement of financial position has been restated to be consistent with the framework under FRS 102(1a). As a result, equity brought forward has decreased from £120,668 to £112,326, relating to the deferred tax position. The company's bank borrowing has been personally guaranteed by A Wilson, director.

12.

Further information regarding the company's financial position

During the year the company has undergone conversion from FRS 105 to FRS 102(1a). The comparative statement of financial position has been restated to be consistent with the framework under FRS 102(1a). As a result, equity brought forward has decreased from £120,668 to £112,326, relating to the deferred tax position.

The company's bank borrowing has been personally guaranteed by A Wilson, director.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		44,032		31,981
			44,032		31,981
Current assets
Stocks	4	4,750		16,677
Debtors	5	117,043		167,287
Cash at bank and on hand		419,812		30,842
		541,605		214,806
Creditors amounts falling due within one year	6	(380,491)		(122,979)
Net current assets (liabilities)			161,114		91,827
Total assets less current liabilities			205,146		123,808
Creditors amounts falling due after one year	7		(12,690)		(3,141)
Provisions for liabilities	9		(11,500)		(8,341)
Net assets			180,956		112,326
Capital and reserves
Called up share capital			3		3
Profit and loss account			180,953		112,323
Shareholders' funds			180,956		112,326