Droyt Products Limited - Accounts to registrar (filleted) - small 18.2
Droyt Products Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2020 |
| FOR |
| DROYT PRODUCTS LIMITED |
| DROYT PRODUCTS LIMITED (REGISTERED NUMBER: 00322883) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| DROYT PRODUCTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MARCH 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 7-9 Station Road |
| Hesketh Bank |
| Preston |
| Lancashire |
| PR4 6SN |
| BANKERS: |
| 56 Market Street |
| Chorley |
| Lancashire |
| PR7 2SD |
| DROYT PRODUCTS LIMITED (REGISTERED NUMBER: 00322883) |
| BALANCE SHEET |
| 31ST MARCH 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 9 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| DROYT PRODUCTS LIMITED (REGISTERED NUMBER: 00322883) |
| BALANCE SHEET - continued |
| 31ST MARCH 2020 |
| 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 were signed on its behalf by: |
| DROYT PRODUCTS LIMITED (REGISTERED NUMBER: 00322883) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2020 |
| 1. | STATUTORY INFORMATION |
| Droyt Products Limited is a |
| 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 |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Office equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet 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. |
| DROYT PRODUCTS LIMITED (REGISTERED NUMBER: 00322883) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Office |
| property | machinery | equipment | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1st April 2019 |
| Additions |
| At 31st March 2020 |
| DEPRECIATION |
| At 1st April 2019 |
| Charge for year |
| At 31st March 2020 |
| NET BOOK VALUE |
| At 31st March 2020 |
| At 31st March 2019 |
| Included in cost or valuation of land and buildings is freehold land of £ 90,000 (2019 - £ 90,000 ) which is not |
| depreciated. |
| Cost or valuation at 31st March 2020 is represented by: |
| Freehold | Plant and | Office |
| property | machinery | equipment | Totals |
| £ | £ | £ | £ |
| Valuation in 2012 | 65,000 | - | - | 65,000 |
| Valuation in 2003 | 25,000 | - | - | 25,000 |
| Valuation in 1999 | 80,266 | - | - | 80,266 |
| Cost | 29,734 | 184,325 | 23,490 | 237,549 |
| 200,000 | 184,325 | 23,490 | 407,815 |
| DROYT PRODUCTS LIMITED (REGISTERED NUMBER: 00322883) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2020 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| If Freehold land and buildings had not been revalued they would have been included at the following historical |
| cost: |
| 2020 | 2019 |
| £ | £ |
| Cost | 29,734 | 29,734 |
| Aggregate depreciation | 15,743 | 15,743 |
| Value of land in freehold land and buildings | 19,822 | 19,822 |
| Freehold land and buildings were valued on an open market basis basis on 3rd January 2003 by Peter E. Gilkes & Co |
| . |
| The directors subsequently revalued the freehold land and buildings themselves at £200,000 as at 31 March |
| 2012. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Other creditors |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| DROYT PRODUCTS LIMITED (REGISTERED NUMBER: 00322883) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2020 |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1st April 2019 |
| and 31st March 2020 |
| 10. | RELATED PARTY DISCLOSURES |
| C.M.Effendowicz and A.S.McCracken own 73.33% of the issued ordinary share capital of the company. |
| During the year contributions of £3,032 (2019: £2,908) were paid to the company's pension scheme of which |
| C.M.Effendowicz and A.S.McCracken are trustees and beneficiaries. |