R.J. Sutton Engineering Limited 05132372 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is that of motor engineers Digita Accounts Production Advanced 6.30.9574.0 true 05132372 2022-09-01 2023-08-31 05132372 2023-08-31 05132372 bus:OrdinaryShareClass1 2023-08-31 05132372 core:CurrentFinancialInstruments 2023-08-31 05132372 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 05132372 core:Goodwill 2023-08-31 05132372 core:FurnitureFittingsToolsEquipment 2023-08-31 05132372 core:LandBuildings 2023-08-31 05132372 core:MotorVehicles 2023-08-31 05132372 core:OtherPropertyPlantEquipment 2023-08-31 05132372 bus:SmallEntities 2022-09-01 2023-08-31 05132372 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 05132372 bus:FullAccounts 2022-09-01 2023-08-31 05132372 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 05132372 bus:RegisteredOffice 2022-09-01 2023-08-31 05132372 bus:Director2 2022-09-01 2023-08-31 05132372 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 05132372 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05132372 core:Goodwill 2022-09-01 2023-08-31 05132372 core:FurnitureFittings 2022-09-01 2023-08-31 05132372 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 05132372 core:LandBuildings 2022-09-01 2023-08-31 05132372 core:MotorVehicles 2022-09-01 2023-08-31 05132372 core:OfficeEquipment 2022-09-01 2023-08-31 05132372 core:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 05132372 core:PlantMachinery 2022-09-01 2023-08-31 05132372 countries:England 2022-09-01 2023-08-31 05132372 2022-08-31 05132372 core:Goodwill 2022-08-31 05132372 core:FurnitureFittingsToolsEquipment 2022-08-31 05132372 core:LandBuildings 2022-08-31 05132372 core:MotorVehicles 2022-08-31 05132372 core:OtherPropertyPlantEquipment 2022-08-31 05132372 2021-09-01 2022-08-31 05132372 2022-08-31 05132372 bus:OrdinaryShareClass1 2022-08-31 05132372 core:CurrentFinancialInstruments 2022-08-31 05132372 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 05132372 core:FurnitureFittingsToolsEquipment 2022-08-31 05132372 core:LandBuildings 2022-08-31 05132372 core:MotorVehicles 2022-08-31 05132372 core:OtherPropertyPlantEquipment 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05132372

R.J. Sutton Engineering Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

R.J. Sutton Engineering Limited

(Registration number: 05132372)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

275,122

266,279

Current assets

 

Stocks

7

4,100

4,890

Debtors

8

202,820

195,323

Cash at bank and in hand

 

544,691

497,712

 

751,611

697,925

Creditors: Amounts falling due within one year

9

(151,960)

(135,731)

Net current assets

 

599,651

562,194

Total assets less current liabilities

 

874,773

828,473

Provisions for liabilities

(29,079)

(20,329)

Net assets

 

845,694

808,144

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

845,594

808,044

Shareholders' funds

 

845,694

808,144

 

R.J. Sutton Engineering Limited

(Registration number: 05132372)
Balance Sheet as at 31 August 2023

For the financial year ending 31 August 2023 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board for issue on 5 March 2024 and signed on its behalf by:
 

.........................................

R J Sutton

Director

 

R.J. Sutton Engineering Limited

Notes to the Financial Statements for the Year Ended 31 August 2023

1

General information

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

The address of its registered office is:
New Sulehay
Apethorpe Road
Nassington
Peterborough
Cambs
PE8 6QT

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 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 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.

 

R.J. Sutton Engineering Limited

Notes to the Financial Statements for the Year Ended 31 August 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

20% reducing balance

Motor vehicles

20% reducing balance

Office equipment

20% reducing balance

Furniture and fittings

10% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

straight line over 5 years

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.

 

R.J. Sutton Engineering Limited

Notes to the Financial Statements for the Year Ended 31 August 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

R.J. Sutton Engineering Limited

Notes to the Financial Statements for the Year Ended 31 August 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2022 - 14).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

25,791

25,252

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2022

59,757

59,757

At 31 August 2023

59,757

59,757

Amortisation

At 1 September 2022

59,757

59,757

At 31 August 2023

59,757

59,757

Carrying amount

At 31 August 2023

-

-

 

R.J. Sutton Engineering Limited

Notes to the Financial Statements for the Year Ended 31 August 2023

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2022

151,346

32,257

194,722

274,880

653,205

Additions

-

877

-

33,757

34,634

At 31 August 2023

151,346

33,134

194,722

308,637

687,839

Depreciation

At 1 September 2022

-

20,120

145,149

221,657

386,926

Charge for the year

-

3,007

9,915

12,869

25,791

At 31 August 2023

-

23,127

155,064

234,526

412,717

Carrying amount

At 31 August 2023

151,346

10,007

39,658

74,111

275,122

At 31 August 2022

151,346

12,137

49,573

53,223

266,279

 

R.J. Sutton Engineering Limited

Notes to the Financial Statements for the Year Ended 31 August 2023

7

Stocks

2023
£

2022
£

Other inventories

4,100

4,890

8

Debtors

Current

2023
£

2022
£

Trade debtors

161,964

167,224

Prepayments

7,624

7,877

Other debtors

33,232

20,222

 

202,820

195,323

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

11

4,645

4,645

Trade creditors

 

38,504

26,920

Amounts owed to related parties

4,659

4,659

Taxation and social security

 

66,547

68,426

Other creditors

 

37,605

31,081

 

151,960

135,731

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

11

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

4,645

4,645