Company Registration No. SC084457 (Scotland)
David Philp (Commercials) Limited
Unaudited accounts
for the year ended 31 March 2025
David Philp (Commercials) Limited
Unaudited accounts
Contents
David Philp (Commercials) Limited
Company Information
for the year ended 31 March 2025
Directors
David Philp
Hazel Anderson
Company Number
SC084457 (Scotland)
Registered Office
Camps Industrial Estate
Kirknewton
Midlothian
EH27 8DF
Accountants
Select Financial Management (Scotland) Ltd
Accountants & Business Advisers
Axwell House
2 Westerton Road
Broxburn
West Lothian
EH52 5AU
David Philp (Commercials) Limited
Statement of financial position
as at 31 March 2025
Tangible assets
2,427,781
2,304,120
Inventories
121,539
203,201
Cash at bank and in hand
1,283,178
1,245,119
Creditors: amounts falling due within one year
(869,140)
(978,468)
Net current assets
1,389,984
1,441,287
Total assets less current liabilities
3,817,765
3,745,407
Creditors: amounts falling due after more than one year
(54,583)
(117,206)
Provisions for liabilities
Deferred tax
(188,842)
(161,794)
Net assets
3,574,340
3,466,407
Called up share capital
100,000
100,000
Profit and loss account
3,474,340
3,366,407
Shareholders' funds
3,574,340
3,466,407
For the year ending 31 March 2025 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2025 and were signed on its behalf by
Hazel Anderson
Director
Company Registration No. SC084457
David Philp (Commercials) Limited
Notes to the Accounts
for the year ended 31 March 2025
David Philp (Commercials) Limited is a private company, limited by shares, registered in Scotland, registration number SC084457. The registered office is Camps Industrial Estate, Kirknewton, Midlothian, EH27 8DF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
4% straight line
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Inventories have been valued at the lower of cost and estimated selling price. In respect of work in progress, cost includes a relevant proportion of overheads according to the stage of completion of the relevant job.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
David Philp (Commercials) Limited
Notes to the Accounts
for the year ended 31 March 2025
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2024
2,674,556
549,990
1,252,230
60,449
4,537,225
Additions
172,707
64,840
267,654
698
505,899
Disposals
-
-
(182,992)
-
(182,992)
At 31 March 2025
2,847,263
614,830
1,336,892
61,147
4,860,132
At 1 April 2024
1,142,706
400,708
641,513
48,178
2,233,105
Charge for the year
112,774
26,872
177,380
1,945
318,971
On disposals
-
-
(119,725)
-
(119,725)
At 31 March 2025
1,255,480
427,580
699,168
50,123
2,432,351
At 31 March 2025
1,591,783
187,250
637,724
11,024
2,427,781
At 31 March 2024
1,531,850
149,282
610,717
12,271
2,304,120
Amounts falling due within one year
Trade debtors
832,874
963,468
Other debtors
21,533
7,967
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Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
51,111
51,111
Obligations under finance leases and hire purchase contracts
81,187
85,077
Trade creditors
463,022
540,921
Taxes and social security
122,589
212,344
Other creditors
21,760
19,850
7
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
41,805
53,317
David Philp (Commercials) Limited
Notes to the Accounts
for the year ended 31 March 2025
The company is a wholly-owned subsidiary of David Philp Holdings Limited, registered in Scotland number SC379266, at Camps Industrial Estate, Kirknewton, Midlothian, EH27 8DF.
During the year dividends of £203,860 (PY: £179,984) were paid to the parent company.
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Average number of employees
During the year the average number of employees was 38 (2024: 38).