REGISTERED NUMBER: SC245245 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2025

FOR

DAVIDSONS MARINE & INDUSTRIAL PAINTERS

LTD.

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

B Davidson

B Davidson

A Davidson

REGISTERED OFFICE:

The Seagate

Peterhead

Aberdeenshire

AB42 1JP

REGISTERED NUMBER:

SC245245 (Scotland)

ACCOUNTANTS:

Goldwells Ltd

Goldwells House

Grange Road

Peterhead

Aberdeenshire

AB42 1WN

FIXED ASSETS

Tangible assets

4

912,120

891,770

CURRENT ASSETS

Stocks

102,745

57,245

Debtors

5

506,146

607,349

Cash at bank

21,510

61,512

630,401

726,106

CREDITORS

Amounts falling due within one year

6

473,434

510,935

NET CURRENT ASSETS

156,967

215,171

TOTAL ASSETS LESS CURRENT LIABILITIES

1,069,087

1,106,941

CREDITORS

Amounts falling due after more than one year

7

43,251

90,593

NET ASSETS

1,025,836

1,016,348

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

1,025,832

1,016,344

SHAREHOLDERS' FUNDS

1,025,836

1,016,348

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th November 2025 and were signed on its behalf by:

B Davidson - Director

1.	STATUTORY INFORMATION

Davidsons Marine & Industrial Painters Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2024 - 38 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st June 2024

709,740

933,585

1,643,325

Additions

-

93,150

93,150

Disposals

-

(11,006

)

(11,006

)

At 31st May 2025

709,740

1,015,729

1,725,469

DEPRECIATION

At 1st June 2024

-

751,555

751,555

Charge for year

-

67,462

67,462

Eliminated on disposal

-

(5,668

)

(5,668

)

At 31st May 2025

-

813,349

813,349

NET BOOK VALUE

At 31st May 2025

709,740

202,380

912,120

At 31st May 2024

709,740

182,030

891,770

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

492,565

594,250

Loan - employees

300

300

Inter Company - DBS

12,799

12,799

Inter Co - Davidsons Prop Serv

482

-

506,146

607,349

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

30,870

78,321

Hire purchase contracts

23,644

12,510

Trade creditors

168,037

197,392

Tax

132,224

129,763

Social security and other taxes

24,432

17,891

VAT

14,107

10,722

Other creditors

23,752

12,707

Inter company loan Fraserburgh

56,009

51,350

Directors' current accounts

359

279

473,434

510,935

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

CBILS loan

-

36,207

Bank loan

12,654

25,195

Hire purchase contracts

30,597

29,191

43,251

90,593

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

16,167

37,986

Bank loans

27,357

101,737

43,524

139,723

The company's bank, the Royal Bank of Scotland hold a standard security over 9 and 9A Dales Industrial Estate. They also hold a bond and floating charge over the assets of the company.