Company registration number 12524716 (England and Wales)
Dutton Infrastructure Limited
Unaudited financial statements
For the Period ended 30 April 2023
Dutton Infrastructure Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Dutton Infrastructure Limited
Statement of financial position
As at 30 April 2023
30 April 2023
- 1 -
30 April 2023
31 October 2021
Notes
£
£
£
£
Current assets
Stocks
97,376
675
Debtors
2
608,017
211,857
Cash at bank and in hand
52,104
221,879
757,497
434,411
Creditors: amounts falling due within one year
3
(189,946)
(297,568)
Net current assets
567,551
136,843
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
567,451
136,743
Total equity
567,551
136,843
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial Period ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 8 November 2023
Mr R M Dutton
Director
Company Registration No. 12524716
Dutton Infrastructure Limited
Notes to the financial statements
For the Period ended 30 April 2023
- 2 -
1
Accounting policies
Company information
Dutton Infrastructure Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Unit 1 Brooks Lane, Middlewich, Cheshire, England, CW10 0JH.
1.1
Reporting period
The comparative amounts reflect a period of 18 months and may not be comparable to the results reported for the current financial year.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
The company has taken advantage of exception, under the terms of Financial Reporting Standard 102 'The financial reporting standard applicable in the UK and Republic of Ireland', not to disclose the related party transactions with wholly owned subsidiaries within the group.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
Dutton Infrastructure Limited
Notes to the financial statements (continued)
For the Period ended 30 April 2023
1
Accounting policies
(Continued)
- 3 -
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances and loans fellow from group companies, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and loans to fellow group companies, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Dutton Infrastructure Limited
Notes to the financial statements (continued)
For the Period ended 30 April 2023
- 4 -
2
Debtors
2023
2021
Amounts falling due within one year:
£
£
Trade debtors
180,257
203,787
Amounts owed by group undertakings
425,000
Other debtors
2,760
8,070
608,017
211,857
3
Creditors: amounts falling due within one year
2023
2021
£
£
Trade creditors
55,337
12,806
Amounts owed to group undertakings
77,000
252,974
Taxation and social security
36,926
Other creditors
20,683
31,788
189,946
297,568