John Drury & Co. Limited 00813618 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is the manufacture of soap Digita Accounts Production Advanced 6.30.9574.0 true false 00813618 2021-01-01 2021-12-31 00813618 2021-12-31 00813618 bus:OrdinaryShareClass1 2021-12-31 00813618 core:RetainedEarningsAccumulatedLosses 2021-12-31 00813618 core:ShareCapital 2021-12-31 00813618 core:CurrentFinancialInstruments 2021-12-31 00813618 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 00813618 core:OtherPropertyPlantEquipment 2021-12-31 00813618 bus:SmallEntities 2021-01-01 2021-12-31 00813618 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 00813618 bus:FullAccounts 2021-01-01 2021-12-31 00813618 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 00813618 bus:RegisteredOffice 2021-01-01 2021-12-31 00813618 bus:Director2 2021-01-01 2021-12-31 00813618 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 00813618 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 00813618 core:OtherPropertyPlantEquipment 2021-01-01 2021-12-31 00813618 core:PlantMachinery 2021-01-01 2021-12-31 00813618 1 2021-01-01 2021-12-31 00813618 countries:AllCountries 2021-01-01 2021-12-31 00813618 2020-12-31 00813618 core:OtherPropertyPlantEquipment 2020-12-31 00813618 2020-01-01 2020-12-31 00813618 2020-12-31 00813618 bus:OrdinaryShareClass1 2020-12-31 00813618 core:RetainedEarningsAccumulatedLosses 2020-12-31 00813618 core:ShareCapital 2020-12-31 00813618 core:CurrentFinancialInstruments 2020-12-31 00813618 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 00813618 core:OtherPropertyPlantEquipment 2020-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00813618

John Drury & Co. Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

John Drury & Co. Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

John Drury & Co. Limited

(Registration number: 00813618)
Balance Sheet as at 31 December 2021

Note

2021

2020

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

237,027

 

266,119

Current assets

   

 

Stocks

875,029

 

725,644

 

Debtors

5

767,644

 

731,034

 

Cash at bank and in hand

 

1,343,425

 

1,484,460

 

 

2,986,098

 

2,941,138

 

Creditors: Amounts falling due within one year

6

(591,616)

 

(659,287)

 

Net current assets

   

2,394,482

 

2,281,851

Total assets less current liabilities

   

2,631,509

 

2,547,970

Provisions for liabilities

 

(40,000)

 

(45,000)

Net assets

   

2,591,509

 

2,502,970

Capital and reserves

   

 

Called up share capital

7

2,000

 

2,000

 

Profit and loss account

2,589,509

 

2,500,970

 

Total equity

   

2,591,509

 

2,502,970

 

John Drury & Co. Limited

(Registration number: 00813618)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 12 September 2022 and signed on its behalf by:
 

.........................................
E J Drury
Director

 

John Drury & Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Soap Works
28 River Street
Brighouse
HD6 1NJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Summary of disclosure exemptions

The company has taken advantage of the exemption under Financial Reporting Standard 102 Section 1AC.35 from disclosing transactions and balances with fellow group undertakings that are wholly owned.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the goods; the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity.

Government grants

Grants are recognised when there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.

Grants are measured at the fair value of the asset received or receivable.

Grants relating to assets shall be recognised in income on a systematic basis over the expected useful life of the asset.

Where part of a grant relating to an asset is deferred it shall be recognised as deferred income and not deducted from the carrying amount of the asset.

 

John Drury & Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

John Drury & Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

John Drury & Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 57 (2020 - 56).

4

Tangible assets

Plant and machinery
 £

Total
£

Cost or valuation

At 1 January 2021

1,723,112

1,723,112

Additions

43,654

43,654

At 31 December 2021

1,766,766

1,766,766

Depreciation

At 1 January 2021

1,456,993

1,456,993

Charge for the year

72,746

72,746

At 31 December 2021

1,529,739

1,529,739

Carrying amount

At 31 December 2021

237,027

237,027

At 31 December 2020

266,119

266,119

5

Debtors

2021
£

2020
£

Trade debtors

633,354

650,478

Amounts owed by group undertakings

108,273

36,053

Other debtors

1,909

19,920

Prepayments

24,108

24,583

767,644

731,034

 

John Drury & Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

6

Creditors

2021
£

2020
£

Due within one year

Trade creditors

322,266

426,398

Taxation and social security

183,567

182,101

Accruals and deferred income

85,186

47,984

Other creditors

597

2,804

591,616

659,287

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

2,000

2,000

2,000

2,000

         

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £16,237 (2020 - £22,657). This financial commitment is in respect of an operating lease.

9

Parent and ultimate parent undertaking

The company's immediate and ultimate parent is John Drury Holdings Limited, incorporated in England & Wales.