D&G PRECISION ENGINEERING LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC212568 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 November 2018

for

D&G PRECISION ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

S GRIFFIN

REGISTERED OFFICE:

1-3 HAGMILL ROAD

COATBRIDGE

NORTH LANARKSHIRE

ML5 4XD

REGISTERED NUMBER:

SC212568 (Scotland)

ACCOUNTANTS:

Gordon Ferguson & Co Ltd

Upper Floor

Comac House

2 Coddington Crescent

Eurocentral

Lanarkshire

ML1 4YF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

65,623

84,409

65,623

84,409

CURRENT ASSETS

Stocks

29,773

21,408

Debtors

6

168,679

177,322

Cash at bank and in hand

72,980

24,487

271,432

223,217

CREDITORS

Amounts falling due within one year

7

189,721

192,458

NET CURRENT ASSETS

81,711

30,759

TOTAL ASSETS LESS CURRENT LIABILITIES

147,334

115,168

CREDITORS

Amounts falling due after more than one year

8

49,827

33,128

NET ASSETS

97,507

82,040

CAPITAL AND RESERVES

Called up share capital

60,099

60,099

Retained earnings

37,408

21,941

SHAREHOLDERS' FUNDS

97,507

82,040

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 26 August 2019 and were signed by:

S GRIFFIN - Director

1.	STATUTORY INFORMATION

D&G PRECISION ENGINEERING LIMITED 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Development costs are being amortised evenly over their estimated useful life of nil years.

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

-

33% on cost and 25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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 13 (2017 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 December 2017

and 30 November 2018

38,555

AMORTISATION

At 1 December 2017

and 30 November 2018

38,555

NET BOOK VALUE

At 30 November 2018

-

At 30 November 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2017

391,402

Additions

3,658

At 30 November 2018

395,060

DEPRECIATION

At 1 December 2017

306,993

Charge for year

22,444

At 30 November 2018

329,437

NET BOOK VALUE

At 30 November 2018

65,623

At 30 November 2017

84,409

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Trade debtors

162,147

170,134

Other debtors

6,532

7,188

168,679

177,322

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Hire purchase contracts

16,070

30,720

Trade creditors

36,665

30,305

Taxation and social security

61,549

61,215

Other creditors

75,437

70,218

189,721

192,458

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.18

30.11.17

£

£

Hire purchase contracts

25,283

33,128

Other creditors

24,544

-

49,827

33,128

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 November 2018 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Gordon Ferguson & Co Ltd

Upper Floor

Comac House

2 Coddington Crescent

Eurocentral

Lanarkshire

ML1 4YF

Date: .............................................