Company Registration No. SC275655 (Scotland)
DBM (SCOTLAND) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2015
DBM (SCOTLAND) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
DBM (SCOTLAND) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
29 MARCH 2015
29 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
101
Current assets
Stocks
51,188
46,814
Debtors
124,532
116,794
Cash at bank and in hand
58,092
66,658
233,812
230,266
Creditors: amounts falling due within one year
3
(184,222)
(187,393)
Net current assets
49,590
42,873
Total assets less current liabilities
49,590
42,974
Capital and reserves
Called up share capital
4
100
100
Profit and loss account
49,490
42,874
Shareholders' funds
49,590
42,974
For the financial year ended 29 March 2015 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 6 November 2015
Benjamin Molyneux
Director
Company Registration No. SC275655
DBM (SCOTLAND) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
Although the company made a net profit in this accounting period and at the balance sheet date it had net assets, it is dependent on its invoice discounting facility to meet its financial commitments. These accounts have been prepared on a going concern basis which assumes that this facility will continue to be available to the company. The directors are confident that this will be the case for the foreseeable future.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
15% straight line
Motor vehicles
20% straight line
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.9
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as it is exempt from the requirement to do so by section 400 of the Companies Act 2006 as it is a subsidiary undertaking of DBM Holdings Limited, a company incorporated in Scotland.
DBM (SCOTLAND) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 30 March 2014 & at 29 March 2015
710
Depreciation
At 30 March 2014
609
Charge for the year
101
At 29 March 2015
710
Net book value
At 29 March 2015
-
At 29 March 2014
101
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £1,436 (2014 - £0).
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
5
Ultimate parent company
The ultimate parent undertaking is DBM Holdings Limited, which is a company registered in Scotland.