Dutton Engineering (Woodside) Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 01732907 (England and Wales)

Financial Statements for the Year Ended 30 September 2022

for

Dutton Engineering (Woodside) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A J Read

J H M Glasse

J R M Glasse

REGISTERED OFFICE:

3 Tyne Road

Middlefield Industrial Estate

Sunderland Road

Sandy

Bedfordshire

SG19 1SA

REGISTERED NUMBER:

01732907 (England and Wales)

AUDITORS:

Collett Hulance Accountants Limited

Chartered Certified Accountants

and Registered Auditor

40 Kimbolton Road

Bedford

Bedfordshire

MK40 2NR

FIXED ASSETS

Tangible assets

5

1,154,543

1,349,762

CURRENT ASSETS

Stocks

6

190,708

236,634

Debtors

7

561,263

621,421

Cash at bank

906,425

751,320

1,658,396

1,609,375

CREDITORS

Amounts falling due within one year

8

702,824

697,508

NET CURRENT ASSETS

955,572

911,867

TOTAL ASSETS LESS CURRENT LIABILITIES

2,110,115

2,261,629

CREDITORS

Amounts falling due after more than one year

9

(188,749

)

(309,790

)

PROVISIONS FOR LIABILITIES

(219,785

)

(202,499

)

NET ASSETS

1,701,581

1,749,340

CAPITAL AND RESERVES

Called up share capital

126,068

126,068

Share premium

131,931

131,931

Revaluation reserve

11

18,380

18,709

Capital redemption reserve

45,000

45,000

Retained earnings

1,380,202

1,427,632

SHAREHOLDERS' FUNDS

1,701,581

1,749,340

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 6 June 2023 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

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 23 (2021 - 22 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Long

to

Plant and

leasehold

property

machinery

£

£

£

COST OR VALUATION

At 1 October 2021

372,484

60,090

2,608,133

Additions

-

-

-

At 30 September 2022

372,484

60,090

2,608,133

DEPRECIATION

At 1 October 2021

110,589

60,090

1,541,184

Charge for year

4,599

-

178,853

At 30 September 2022

115,188

60,090

1,720,037

NET BOOK VALUE

At 30 September 2022

257,296

-

888,096

At 30 September 2021

261,895

-

1,066,949

Office

Motor

equipment

vehicles

& furniture

Totals

£

£

£

COST OR VALUATION

At 1 October 2021

101,168

201,110

3,342,985

Additions

-

983

983

At 30 September 2022

101,168

202,093

3,343,968

DEPRECIATION

At 1 October 2021

94,708

186,652

1,993,223

Charge for year

6,460

6,290

196,202

At 30 September 2022

101,168

192,942

2,189,425

NET BOOK VALUE

At 30 September 2022

-

9,151

1,154,543

At 30 September 2021

6,460

14,458

1,349,762

Cost or valuation at 30 September 2022 is represented by:

Improvements

Long

to

Plant and

leasehold

property

machinery

£

£

£

Valuation in 1997

26,588

-

-

Cost

345,896

60,090

2,608,133

372,484

60,090

2,608,133

Office

Motor

equipment

vehicles

& furniture

Totals

£

£

£

Valuation in 1997

-

-

26,588

Cost

101,168

202,093

3,317,380

101,168

202,093

3,343,968

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

30.9.22

30.9.21

£

£

Cost

345,896

345,896

Aggregate depreciation

106,981

102,711

6.

STOCKS

30.9.22

30.9.21

£

£

Stocks

61,537

64,463

Work-in-progress

129,171

172,171

190,708

236,634

7.

DEBTORS

30.9.22

30.9.21

£

£

Amounts falling due within one year:

Trade debtors

479,175

543,313

Other debtors

2,135

-

Directors' current accounts

11,279

11,279

Tax

5,979

5,979

Prepayments & accrued income

59,875

58,030

558,443

618,601

Amounts falling due after more than one year:

Tax

2,820

2,820

Aggregate amounts

561,263

621,421

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Bank loans and overdrafts

-

32,933

Hire purchase contracts

121,051

125,790

Trade creditors

369,482

375,584

Tax

61,742

8,432

Social security and other taxes

20,235

18,340

VAT

54,656

56,006

Other creditors

32,783

19,040

Accruals and deferred income

42,875

61,383

702,824

697,508

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.22

30.9.21

£

£

Hire purchase contracts

188,749

309,790

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.22

30.9.21

£

£

Bank loans

-

32,933

Hire purchase contracts

309,800

435,580

309,800

468,513

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

11.

RESERVES

Revaluation

reserve

£

At 1 October 2021

18,709

Realisation of revaluation

reserve

(329

)

At 30 September 2022

18,380

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

The Report of the Auditors was unqualified.

Andrew Robert Upton FCCA (Senior Statutory Auditor)

for and on behalf of Collett Hulance Accountants Limited

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 £44,560 per annum.

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2022 and 30 September 2021:

30.9.22

30.9.21

£

£

A J Read

Balance outstanding at start of year

11,279

11,279

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

11,279

11,279

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