Dutton Engineering (Woodside) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01732907 (England and Wales)

Financial Statements for the Year Ended 30 September 2018

for

Dutton Engineering (Woodside) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A J Read

Lady M N Glasse

J H M Glasse

REGISTERED OFFICE:

3 Tyne Road

Middlefield Industrial Estate

Sunderland Road

Sandy

Bedfordshire

SG19 1SA

REGISTERED NUMBER:

01732907 (England and Wales)

AUDITOR:

Collett Hulance LLP

Chartered Certified Accountants

and Registered Auditor

40 Kimbolton Road

Bedford

Bedfordshire

MK40 2NR

FIXED ASSETS

Tangible assets

5

1,080,383

1,021,081

CURRENT ASSETS

Stocks

6

189,748

136,315

Debtors

7

627,037

718,752

Cash at bank

677,806

733,125

1,494,591

1,588,192

CREDITORS

Amounts falling due within one year

8

801,412

793,825

NET CURRENT ASSETS

693,179

794,367

TOTAL ASSETS LESS CURRENT LIABILITIES

1,773,562

1,815,448

CREDITORS

Amounts falling due after more than one year

9

(89,378

)

(272,245

)

PROVISIONS FOR LIABILITIES

(140,637

)

(121,760

)

NET ASSETS

1,543,547

1,421,443

CAPITAL AND RESERVES

Called up share capital

126,068

126,068

Share premium

131,931

131,931

Revaluation reserve

11

19,695

24,728

Capital redemption reserve

45,000

45,000

Retained earnings

1,220,853

1,093,716

SHAREHOLDERS' FUNDS

1,543,547

1,421,443

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 28 March 2019 and were signed on its behalf by:

A J Read - Director

1.	STATUTORY INFORMATION

Dutton Engineering (Woodside) Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue recognition

Turnover in respect of long-term contracts is recognised by reference to the stage of completion.

Turnover shown in the profit and loss account represents the value of work done in the year, including estimates

of amounts not invoiced.

Tangible fixed assets

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

Long leasehold

-

over the life of the lease

Improvements to property

-

over the life of the lease

Plant and machinery

-

at varying rates on cost

Motor vehicles

-

25% on cost

Office equipment & furniture

-

at varying rates on cost

Tangible fixed assets are carried at cost less depreciation except that a leasehold property is included at a

revalued amount. The valuation was undertaken in June 1997. This valuation has not been updated in respect of

these financial statements.

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2017 - 31 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Long

to

Plant and

leasehold

property

machinery

£

£

£

COST OR VALUATION

At 1 October 2017

372,484

60,090

2,153,414

Additions

-

-

144,490

At 30 September 2018

372,484

60,090

2,297,904

DEPRECIATION

At 1 October 2017

92,195

52,975

1,429,346

Charge for year

4,598

3,005

99,291

At 30 September 2018

96,793

55,980

1,528,637

NET BOOK VALUE

At 30 September 2018

275,691

4,110

769,267

At 30 September 2017

280,289

7,115

724,068

Office

Motor

equipment

vehicles

& furniture

Totals

£

£

£

COST OR VALUATION

At 1 October 2017

72,978

166,108

2,825,074

Additions

28,190

-

172,680

At 30 September 2018

101,168

166,108

2,997,754

DEPRECIATION

At 1 October 2017

64,318

165,159

1,803,993

Charge for year

5,535

949

113,378

At 30 September 2018

69,853

166,108

1,917,371

NET BOOK VALUE

At 30 September 2018

31,315

-

1,080,383

At 30 September 2017

8,660

949

1,021,081

Cost or valuation at 30 September 2018 is represented by:

Improvements

Long

to

Plant and

leasehold

property

machinery

£

£

£

Valuation in 1997

26,588

-

-

Cost

345,896

60,090

2,297,904

372,484

60,090

2,297,904

Office

Motor

equipment

vehicles

& furniture

Totals

£

£

£

Valuation in 1997

-

-

26,588

Cost

101,168

166,108

2,971,166

101,168

166,108

2,997,754

If leasehold property had not been revalued it would have been included at the following historical cost:

30.9.18

30.9.17

£

£

Cost

345,896

345,896

Aggregate depreciation

89,900

86,406

6.

STOCKS

30.9.18

30.9.17

£

£

Stocks

31,422

22,812

Work-in-progress

158,326

113,503

189,748

136,315

7.

DEBTORS

30.9.18

30.9.17

£

£

Amounts falling due within one year:

Trade debtors

536,466

624,770

Other debtors

250

-

Directors' current accounts

21,279

26,279

Tax

3,431

2,180

Prepayments

60,292

58,953

621,718

712,182

Amounts falling due after more than one year:

Tax

5,319

6,570

Aggregate amounts

627,037

718,752

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Bank loans and overdrafts

200,641

30,494

Hire purchase contracts

94,674

72,893

Trade creditors

353,691

507,775

Tax

51,094

86,093

Social security and other taxes

17,012

23,054

VAT

48,102

35,186

Other creditors

19,859

17,616

Directors' current accounts

993

993

Accruals and deferred income

15,346

19,721

801,412

793,825

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.18

30.9.17

£

£

Bank loans - 1-2 years

-

201,845

Hire purchase contracts

89,378

70,400

89,378

272,245

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.18

30.9.17

£

£

Bank loans

200,641

232,339

Hire purchase contracts

184,052

143,293

384,693

375,632

The bank overdraft and flexible business loan are secured by a first legal charge over the leasehold property at

Middlefield Industrial Estate, Sandy, Bedfordshire dated 30 September 1991.

The company's bankers also hold a legal charge, dated 21 October 2010, over the company's leasehold property

known as Unit 1A Tyne Road, Sandy in respect of all monies due to the bank.

Amounts due under hire purchase contracts are secured over the assets to which they relate.

11.

RESERVES

Revaluation

reserve

£

At 1 October 2017

24,728

Realisation of revaluation

reserve

(5,033

)

At 30 September 2018

19,695

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditor was unqualified.

Andrew Robert Upton FCCA (Senior Statutory Auditor)

for and on behalf of Collett Hulance LLP

13.	OTHER FINANCIAL COMMITMENTS

The company's leasehold premises are held under a long-term lease which is due to expire on 25 March 2079.

The ground rent is subject to 10 yearly reviews and is currently payable at £42,800 per annum.

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2018 and

30 September 2017:

30.9.18

30.9.17

£

£

A J Read

Balance outstanding at start of year

26,279

27,991

Amounts advanced

-

5,288

Amounts repaid

(5,000

)

(7,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

21,279

26,279

The loan is interest free and there are no fixed terms for repayment.