Daburn Limited - Accounts to registrar (filleted) - small 18.2

Daburn Limited - Accounts to registrar (filleted) - small 18.2

DABURN LIMITED - Company Information

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REGISTERED NUMBER: SC366220















DABURN LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020














DABURN LIMITED (REGISTERED NUMBER: SC366220)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020




Page

Balance Sheet 1

Notes to the Financial Statements 2


DABURN LIMITED (REGISTERED NUMBER: SC366220)

BALANCE SHEET
30 SEPTEMBER 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,702 2,364

CURRENT ASSETS
Debtors 5 2,000 7,500
Cash at bank 25,624 27,290
27,624 34,790
CREDITORS
Amounts falling due within one year 6 15,415 19,801
NET CURRENT ASSETS 12,209 14,989
TOTAL ASSETS LESS CURRENT
LIABILITIES
14,911
17,353

PROVISIONS FOR LIABILITIES 513 449
NET ASSETS 14,398 16,904

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 14,298 16,804
14,398 16,904

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 March 2021 and were signed by:



Mr A J Harrison - Director


The notes form part of these financial statements

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DABURN LIMITED (REGISTERED NUMBER: SC366220)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020

1. STATUTORY INFORMATION

Daburn Limited is a private company, limited by shares, registered in Scotland. The company's registered office is 29 Glenview Crescent, Stoneyburn, West Lothian, EH47 8DD.

The presentation currency of the financial statements is Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis. The validity of this is dependent on the financial performance of the company following the restrictions and other conditions placed throughout the UK due to the Covid-19 pandemic, including how the pandemic may adversely affect future revenue streams. After due consideration on the potential impact and future commitments, the director considers it appropriate to prepare the financial statements on a going concern basis despite these uncertainties.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The director considers there are no such significant judgements.

Turnover
Turnover represents the invoice value of services rendered in the year, exclusive of value added tax. The company's policy is to recognise income when substantively all risks and rewards in connection with the services have been passed to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33.3% on cost and 25% on reducing balance

Tangible fixed assets are included at cost less depreciation and impairment.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of the value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.


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DABURN LIMITED (REGISTERED NUMBER: SC366220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2020

2. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2019 7,815
Additions 1,387
At 30 September 2020 9,202
DEPRECIATION
At 1 October 2019 5,451
Charge for year 1,049
At 30 September 2020 6,500
NET BOOK VALUE
At 30 September 2020 2,702
At 30 September 2019 2,364

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DABURN LIMITED (REGISTERED NUMBER: SC366220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2020

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other debtors 2,000 7,500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Taxation and social security 13,998 16,569
Other creditors 1,417 3,232
15,415 19,801

7. RELATED PARTY DISCLOSURES

At the balance sheet date, an amount was due to the director of £340 (2019: £1,761). This amount is interest free, unsecured and carries no fixed repayment terms.

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