DT Engineering (North West) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06727219 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 July 2018

for

DT Engineering (North West) Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mr E T Coyle

SECRETARY:

Mrs D Coyle

REGISTERED OFFICE:

Unit 9

Everite Road Industrial Estate

Westgate

Widnes

Cheshire

WA8 8RA

REGISTERED NUMBER:

06727219 (England and Wales)

ACCOUNTANTS:

Butterworth Barlow

Chartered Accountants

Prescot House

3 High Street

Prescot

Liverpool

Merseyside

L34 3LD

SOLICITORS:

Bermans

Exchange Station

Tithebarn Street

Liverpool

Merseyside

L2 2QP

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of DT Engineering (North West) Limited for the year ended 30 July 2018 which comprise the

Income Statement, Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of DT Engineering (North West) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of DT Engineering (North West) Limited and state those matters that we have agreed to state to the director of DT Engineering (North West) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DT Engineering (North West) Limited and its director for our work or for this report.

It is your duty to ensure that DT Engineering (North West) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of DT Engineering (North West) Limited. You consider that DT Engineering (North West) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of DT Engineering (North West) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Butterworth Barlow

Chartered Accountants

Prescot House

3 High Street

Prescot

Liverpool

Merseyside

L34 3LD

14 January 2019

FIXED ASSETS

Intangible assets

4

341,431

273,460

Tangible assets

5

65,832

85,793

407,263

359,253

CURRENT ASSETS

Stocks

13,789

11,296

Debtors

6

452,322

456,037

Cash at bank and in hand

70,556

80,299

536,667

547,632

CREDITORS

Amounts falling due within one year

7

492,534

602,328

NET CURRENT ASSETS/(LIABILITIES)

44,133

(54,696

)

TOTAL ASSETS LESS CURRENT LIABILITIES

451,396

304,557

CREDITORS

Amounts falling due after more than one year

8

165,936

217,413

NET ASSETS

285,460

87,144

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

285,360

87,044

SHAREHOLDERS' FUNDS

285,460

87,144

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 14 January 2019 and were signed by:

Mr E T Coyle - Director

1.	STATUTORY INFORMATION

DT Engineering (North West) 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2017 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 31 July 2017

273,460

Additions

90,072

At 30 July 2018

363,532

AMORTISATION

Amortisation for year

22,101

At 30 July 2018

22,101

NET BOOK VALUE

At 30 July 2018

341,431

At 30 July 2017

273,460

Intangible assets represent capitalised development costs in relation to three ongoing development projects

carried out by the company. The projects have each been assessed against the FRS102 criteria for capitalisation

and have met that criteria.

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 31 July 2017

32,450

8,376

131,727

5,270

177,823

Additions

2,500

-

2,000

-

4,500

At 30 July 2018

34,950

8,376

133,727

5,270

182,323

DEPRECIATION

At 31 July 2017

21,864

3,136

64,038

2,992

92,030

Charge for year

3,272

786

19,695

708

24,461

At 30 July 2018

25,136

3,922

83,733

3,700

116,491

NET BOOK VALUE

At 30 July 2018

9,814

4,454

49,994

1,570

65,832

At 30 July 2017

10,586

5,240

67,689

2,278

85,793

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.7.18

30.7.17

£

£

Trade debtors

359,509

379,154

Other debtors

92,813

76,883

452,322

456,037

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.7.18

30.7.17

£

£

Bank loans and overdrafts

95,582

81,435

Hire purchase contracts

18,498

19,850

Trade creditors

142,446

100,082

Taxation and social security

66,182

106,451

Other creditors

169,826

294,510

492,534

602,328

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.7.18

30.7.17

£

£

Bank loans

125,713

157,034

Hire purchase contracts

40,223

60,379

165,936

217,413

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.7.18

30.7.17

£

£

Bank loans

191,866

214,251

Hire purchase contracts

58,721

80,229

Invoice discounting facility

161,790

287,505

412,377

581,985

There is a personal guarantee amounting to £16,500 from ET Coyle in respect of the bank loans.

There is a debenture granted by the company in relation to the bank loans.

The invoice discounting facility is secured by a fixed charge over the book debts upon which the facility is

based.

The amounts due under hire purchase contracts are secured on the assets to which they relate.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 July 2018 and

30 July 2017:

30.7.18

30.7.17

£

£

Mr E T Coyle

Balance outstanding at start of year

47,385

-

Amounts advanced

46,627

47,385

Amounts repaid

(47,385

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

46,627

47,385