Dutton Engineering (Woodside) Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 01732907 (England and Wales)

Financial Statements for the Year Ended 30 September 2017

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

1,021,081

916,593

CURRENT ASSETS

Stocks

6

136,315

102,514

Debtors

7

718,752

690,975

Cash at bank

733,125

609,523

1,588,192

1,403,012

CREDITORS

Amounts falling due within one year

8

793,825

667,360

NET CURRENT ASSETS

794,367

735,652

TOTAL ASSETS LESS CURRENT LIABILITIES

1,815,448

1,652,245

CREDITORS

Amounts falling due after more than one year

9

(272,245

)

(377,198

)

PROVISIONS FOR LIABILITIES

(121,760

)

(162,528

)

NET ASSETS

1,421,443

1,112,519

CAPITAL AND RESERVES

Called up share capital

126,068

126,068

Share premium

131,931

131,931

Revaluation reserve

11

24,728

24,728

Capital redemption reserve

45,000

45,000

Retained earnings

1,093,716

784,792

SHAREHOLDERS' FUNDS

1,421,443

1,112,519

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 30 April 2018 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

-

in accordance with the property

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 vallation 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

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.

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 31 (2016 - 30 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Long

to

Plant and

leasehold

property

machinery

£

£

£

COST OR VALUATION

At 1 October 2016

372,484

60,090

1,947,912

Additions

-

-

205,502

At 30 September 2017

372,484

60,090

2,153,414

DEPRECIATION

At 1 October 2016

87,597

49,971

1,349,672

Charge for year

4,598

3,004

79,674

Eliminated on disposal

-

-

-

At 30 September 2017

92,195

52,975

1,429,346

NET BOOK VALUE

At 30 September 2017

280,289

7,115

724,068

At 30 September 2016

284,887

10,119

598,240

Office

Motor

equipment

vehicles

& furniture

Totals

£

£

£

COST OR VALUATION

At 1 October 2016

80,978

166,108

2,627,572

Additions

-

-

205,502

Disposals

(8,000

)

-

(8,000

)

At 30 September 2017

72,978

166,108

2,825,074

DEPRECIATION

At 1 October 2016

60,689

163,050

1,710,979

Charge for year

11,629

2,109

101,014

Eliminated on disposal

(8,000

)

-

(8,000

)

At 30 September 2017

64,318

165,159

1,803,993

NET BOOK VALUE

At 30 September 2017

8,660

949

1,021,081

At 30 September 2016

20,289

3,058

916,593

Cost or valuation at 30 September 2017 is represented by:

Improvements

Long

to

Plant and

leasehold

property

machinery

£

£

£

Valuation in 1997

26,588

-

-

Cost

345,896

60,090

2,153,414

372,484

60,090

2,153,414

Office

Motor

equipment

vehicles

& furniture

Totals

£

£

£

Valuation in 1997

-

-

26,588

Cost

72,978

166,108

2,798,486

72,978

166,108

2,825,074

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

30.9.17

30.9.16

£

£

Cost

345,896

345,896

Aggregate depreciation

113,305

109,461

6.

STOCKS

30.9.17

30.9.16

£

£

Stocks

22,812

18,870

Work-in-progress

113,503

83,644

136,315

102,514

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

624,770

599,307

Directors' current accounts

26,279

27,991

Tax

8,750

8,750

Prepayments

58,953

54,927

718,752

690,975

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Bank loans and overdrafts

30,494

28,656

Hire purchase contracts

72,893

76,383

Trade creditors

507,775

342,342

Tax

86,093

61,043

Social security and other taxes

23,054

22,076

VAT

35,186

70,540

Other creditors

17,616

25,370

Directors' current accounts

993

3,178

Accruals and deferred income

13,721

37,772

Accrued expenses

6,000

-

793,825

667,360

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.9.16

£

£

Bank loans - 2-5 years

201,845

233,905

Hire purchase contracts

70,400

143,293

272,245

377,198

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.17

30.9.16

£

£

Bank loans

232,339

262,561

Hire purchase contracts

143,293

219,676

375,632

482,237

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 2016

and 30 September 2017

24,728

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 2017 and

30 September 2016:

30.9.17

30.9.16

£

£

A J Read

Balance outstanding at start of year

27,991

40,000

Amounts advanced

5,288

279

Amounts repaid

(7,000

)

(12,288

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

26,279

27,991

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