Dutton & Haddy R E S & Technologies Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07577101 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

FOR

DUTTON & HADDY - RENEWABLE ENERGY

SERVICES & TECHNOLOGIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A P S Dutton

Mr D Farmer

REGISTERED OFFICE:

7a Dartmouth Road

Paignton

Devon

TQ4 5AA

REGISTERED NUMBER:

07577101 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

7a Dartmouth Road

Paignton

Devon

TQ4 5AA

BANKERS:

Natwest Plc

15 Victoria Street

Paignton

Devon

TQ4 5DE

FIXED ASSETS

Tangible assets

4

8,534

11,330

CURRENT ASSETS

Stocks

5

5,000

1,050

Debtors

6

96,530

50,517

Cash at bank

91,846

97,627

193,376

149,194

CREDITORS

Amounts falling due within one year

7

77,698

120,588

NET CURRENT ASSETS

115,678

28,606

TOTAL ASSETS LESS CURRENT LIABILITIES

124,212

39,936

CREDITORS

Amounts falling due after more than one year

8

(47,777

)

(5,916

)

PROVISIONS FOR LIABILITIES

(2,153

)

(2,153

)

NET ASSETS

74,282

31,867

CAPITAL AND RESERVES

Called up share capital

20

14

Capital redemption reserve

(126,684

)

(126,684

)

Retained earnings

200,946

158,537

SHAREHOLDERS' FUNDS

11

74,282

31,867

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2021 and were signed on its behalf by:

Mr A P S Dutton - Director

1.	STATUTORY INFORMATION

Dutton & Haddy - Renewable Energy Services & Technologies Ltd 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Government grants

During the year, the company received the following Government Grants as a result COVID-19:-

Job Retention Scheme £12,874

Bounce Back Loan interest paid £729

Grants are recognised under the accruals model.

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 Statement of Income and Retained Earnings, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 8 (2020 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2020

and 30 April 2021

5,041

24,495

3,838

33,374

DEPRECIATION

At 1 May 2020

3,481

14,780

3,783

22,044

Charge for year

312

2,429

55

2,796

At 30 April 2021

3,793

17,209

3,838

24,840

NET BOOK VALUE

At 30 April 2021

1,248

7,286

-

8,534

At 30 April 2020

1,560

9,715

55

11,330

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2020

and 30 April 2021

24,495

DEPRECIATION

At 1 May 2020

14,780

Charge for year

2,429

At 30 April 2021

17,209

NET BOOK VALUE

At 30 April 2021

7,286

At 30 April 2020

9,715

5.

STOCKS

2021

2020

£

£

Stocks

5,000

1,050

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

82,669

42,654

Other debtors

450

450

VAT

10,003

4,542

Prepayments

3,408

2,871

96,530

50,517

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

5,000

-

Hire purchase contracts

3,140

2,930

Trade creditors

17,442

10,244

Tax

22,449

9,248

Social security and other taxes

1,287

2,986

Other creditors

10,000

90,743

Directors' current accounts

15,908

2,000

Accrued expenses

2,472

2,437

77,698

120,588

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 1-2 years

40,833

-

Bank loans - 2-5 years

4,167

-

Hire purchase contracts

2,777

5,916

47,777

5,916

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2021 and 30 April 2020:

2021

2020

£

£

Mr A P S Dutton

Balance outstanding at start of year

(2,000

)

(17,362

)

Amounts advanced

31,009

25,362

Amounts repaid

(43,296

)

(10,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(14,287

)

(2,000

)

Mr D Farmer

Balance outstanding at start of year

-

-

Amounts advanced

9,176

-

Amounts repaid

(10,797

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,621

)

-

Loans are unsecured, interest free and repayable on demand.

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £50,500 (2020 - £10,000) were paid to the directors .

Included in other creditors are amounts owed to Mr P Dutton £5,000 (2020: £45,281) and Mr M Clare £5,000 (2020: £45,000), both whom were directors of the company but resigned on 10 October 2019.

11.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

2021

2020

£

£

Profit for the financial year

92,909

36,273

Dividends

(50,500

)

(16,555

)

42,409

19,718

New share capital subscribed

6

-

Payments to acquire own shares

-

(126,700

)

Retained earnings brought forward

-

138,849

Net addition to shareholders' funds

42,415

31,867

Opening shareholders' funds

31,867

-

Closing shareholders' funds

74,282

31,867

12.	GOVERNMENT GUARANTEED LOAN

The bank loan of £50,000 is a COVID-19 Bounce Back Loan, guaranteed by the government. Term runs to September 2026.