SRJ Davison Limited NI644347 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is machinery manufacture. Digita Accounts Production Advanced 6.30.9574.0 true NI644347 2022-04-01 2023-03-31 NI644347 2023-03-31 NI644347 bus:OrdinaryShareClass1 2023-03-31 NI644347 core:CurrentFinancialInstruments 2023-03-31 NI644347 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI644347 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 NI644347 core:FurnitureFittingsToolsEquipment 2023-03-31 NI644347 core:LandBuildings 2023-03-31 NI644347 core:OtherPropertyPlantEquipment 2023-03-31 NI644347 bus:SmallEntities 2022-04-01 2023-03-31 NI644347 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 NI644347 bus:FullAccounts 2022-04-01 2023-03-31 NI644347 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 NI644347 bus:RegisteredOffice 2022-04-01 2023-03-31 NI644347 bus:Director1 2022-04-01 2023-03-31 NI644347 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 NI644347 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 NI644347 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 NI644347 core:LandBuildings 2022-04-01 2023-03-31 NI644347 core:LeaseholdImprovements 2022-04-01 2023-03-31 NI644347 core:OfficeEquipment 2022-04-01 2023-03-31 NI644347 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 NI644347 core:PlantMachinery 2022-04-01 2023-03-31 NI644347 countries:NorthernIreland 2022-04-01 2023-03-31 NI644347 2022-03-31 NI644347 core:FurnitureFittingsToolsEquipment 2022-03-31 NI644347 core:LandBuildings 2022-03-31 NI644347 core:OtherPropertyPlantEquipment 2022-03-31 NI644347 2021-04-01 2022-03-31 NI644347 2022-03-31 NI644347 bus:OrdinaryShareClass1 2022-03-31 NI644347 core:CurrentFinancialInstruments 2022-03-31 NI644347 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 NI644347 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 NI644347 core:FurnitureFittingsToolsEquipment 2022-03-31 NI644347 core:LandBuildings 2022-03-31 NI644347 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI644347

SRJ Davison Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

SRJ Davison Limited

(Registration number: NI644347)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

611,453

435,356

Current assets

 

Stocks

6

104,000

85,000

Debtors

7

295,396

92,390

Cash at bank and in hand

 

384,317

742,454

 

783,713

919,844

Creditors: Amounts falling due within one year

8

(101,795)

(156,978)

Net current assets

 

681,918

762,866

Total assets less current liabilities

 

1,293,371

1,198,222

Creditors: Amounts falling due after more than one year

8

(440,607)

(462,259)

Provisions for liabilities

(63,332)

(50,023)

Net assets

 

789,432

685,940

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

789,332

685,840

Shareholders' funds

 

789,432

685,940

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

SRJ Davison Limited

(Registration number: NI644347)
Balance Sheet as at 31 March 2023

Director's 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 director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 October 2023
 

.........................................
Mr Stephen Davison
Director

 

SRJ Davison Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 33 Tully Road, Ballymena, Co Antrim, BT42 4RR.

These financial statements were authorised for issue by the director on 20 October 2023.

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises 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 income 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.

 

SRJ Davison Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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

15% straight line

Office equipment, fixtures & fittings

15% straight line

Leasehold improvements

4% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

 

SRJ Davison Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 15 (2022 - 23).

4

Other operating income

Other income includes £3,000 of government assistance received by the Company during the Covid-19 pandemic. The balance relates to a demonstration machine sold during the year for £190,000. This project spanned 4-5 years and the costs were expensed in the years that they were incurred.
 

 

SRJ Davison Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Tangible assets

Leasehold improvements
£

Office equipment, fixtures and fittings
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 April 2022

163,832

24,273

588,612

776,717

Additions

-

3,695

319,348

323,043

At 31 March 2023

163,832

27,968

907,960

1,099,760

Depreciation

At 1 April 2022

17,546

13,849

309,966

341,361

Charge for the year

6,553

4,196

136,197

146,946

At 31 March 2023

24,099

18,045

446,163

488,307

Carrying amount

At 31 March 2023

139,733

9,923

461,797

611,453

At 31 March 2022

146,286

10,424

278,646

435,356

6

Stocks

2023
£

2022
£

Stock and work in progress

104,000

85,000

7

Debtors

2023
£

2022
£

Trade debtors

295,396

92,390

 

SRJ Davison Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

61,165

75,012

Corporation tax

-

45,130

Other tax and social security

14,657

17,617

Other creditors & deferred capital grant

25,973

19,219

101,795

156,978

Due after one year

Other creditors

437,567

443,580

Deferred income

3,040

18,679

440,607

462,259

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

10

Related party transactions

The following amount, included in other creditors due after one year, was owed to the director at year end: £437,567 (2022: £443,580).