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 2019

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

1,061,502

1,080,383

CURRENT ASSETS

Stocks

6

130,042

189,748

Debtors

7

580,762

627,037

Cash at bank

1,000,395

677,806

1,711,199

1,494,591

CREDITORS

Amounts falling due within one year

8

785,291

801,412

NET CURRENT ASSETS

925,908

693,179

TOTAL ASSETS LESS CURRENT LIABILITIES

1,987,410

1,773,562

CREDITORS

Amounts falling due after more than one year

9

(162,803

)

(89,378

)

PROVISIONS FOR LIABILITIES

(139,862

)

(140,637

)

NET ASSETS

1,684,745

1,543,547

CAPITAL AND RESERVES

Called up share capital

126,068

126,068

Share premium

131,931

131,931

Revaluation reserve

11

19,367

19,695

Capital redemption reserve

45,000

45,000

Retained earnings

1,362,379

1,220,853

SHAREHOLDERS' FUNDS

1,684,745

1,543,547

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 June 2020 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 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.

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

-

5% on cost

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 24 (2018 - 26 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Long

to

Plant and

leasehold

property

machinery

£

£

£

COST OR VALUATION

At 1 October 2018

372,484

60,090

2,297,904

Additions

-

-

83,748

Disposals

-

-

(44,000

)

At 30 September 2019

372,484

60,090

2,337,652

DEPRECIATION

At 1 October 2018

96,793

55,980

1,528,637

Charge for year

4,599

2,786

111,444

Eliminated on disposal

-

-

(44,000

)

At 30 September 2019

101,392

58,766

1,596,081

NET BOOK VALUE

At 30 September 2019

271,092

1,324

741,571

At 30 September 2018

275,691

4,110

769,267

Office

Motor

equipment

vehicles

& furniture

Totals

£

£

£

COST OR VALUATION

At 1 October 2018

101,168

166,108

2,997,754

Additions

-

32,263

116,011

Disposals

-

-

(44,000

)

At 30 September 2019

101,168

198,371

3,069,765

DEPRECIATION

At 1 October 2018

69,853

166,108

1,917,371

Charge for year

10,760

5,303

134,892

Eliminated on disposal

-

-

(44,000

)

At 30 September 2019

80,613

171,411

2,008,263

NET BOOK VALUE

At 30 September 2019

20,555

26,960

1,061,502

At 30 September 2018

31,315

-

1,080,383

Cost or valuation at 30 September 2019 is represented by:

Improvements

Long

to

Plant and

leasehold

property

machinery

£

£

£

Valuation in 1997

26,588

-

-

Cost

345,896

60,090

2,337,652

372,484

60,090

2,337,652

Office

Motor

equipment

vehicles

& furniture

Totals

£

£

£

Valuation in 1997

-

-

26,588

Cost

101,168

198,371

3,043,177

101,168

198,371

3,069,765

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

30.9.19

30.9.18

£

£

Cost

345,896

345,896

Aggregate depreciation

94,171

89,900

6.

STOCKS

30.9.19

30.9.18

£

£

Stocks

32,954

31,422

Work-in-progress

97,088

158,326

130,042

189,748

7.

DEBTORS

30.9.19

30.9.18

£

£

Amounts falling due within one year:

Trade debtors

486,092

536,466

Other debtors

500

250

Directors' current accounts

21,279

21,279

Tax

3,431

3,431

Prepayments & accrued income

64,141

60,292

575,443

621,718

Amounts falling due after more than one year:

Tax

5,319

5,319

Aggregate amounts

580,762

627,037

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Bank loans and overdrafts

63,840

200,641

Hire purchase contracts

24,274

94,674

Trade creditors

429,950

353,691

Tax

70,492

51,094

Social security and other taxes

23,022

17,012

VAT

70,860

48,102

Other creditors

27,599

19,859

Directors' current accounts

993

993

Accruals and deferred income

74,261

15,346

785,291

801,412

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.19

30.9.18

£

£

Bank loans - 1-2 years

63,840

-

Bank loans - 2-5 years

31,920

-

Hire purchase contracts

67,043

89,378

162,803

89,378

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.19

30.9.18

£

£

Bank loans

159,600

200,641

Hire purchase contracts

91,317

184,052

250,917

384,693

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 2018

19,695

Realisation of revaluation

reserve

(328

)

At 30 September 2019

19,367

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 2019 and

30 September 2018:

30.9.19

30.9.18

£

£

A J Read

Balance outstanding at start of year

21,279

26,279

Amounts repaid

-

(5,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

21,279

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