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Company registration number: 03070289
DUTCH ENGINEERING SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2023
DUTCH ENGINEERING SERVICES LIMITED
Contents
Directors report
Accountant's report
Statement of financial position
Notes to the financial statements
DUTCH ENGINEERING SERVICES LIMITED
Directors report
Year ended 31 December 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023.
Directors
The directors who served the company during the year were as follows:
Mrs M. H. L. Burrows
Mr J. W. Burrows
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 13 March 2024 and signed on behalf of the board by:
Mr J. W. Burrows
Director
DUTCH ENGINEERING SERVICES LIMITED
Chartered accountant's report to the board of directors on the preparation of the
unaudited statutory financial statements of Dutch Engineering Services Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Dutch Engineering Services Limited for the year ended 31 December 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Dutch Engineering Services Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of Dutch Engineering Services Limited and state those matters that we have agreed to state to the board of directors of Dutch Engineering Services Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Dutch Engineering Services Limited and its board of directors as a body for my work or for this report.
It is your duty to ensure that Dutch Engineering Services 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 Dutch Engineering Services Limited. You consider that Dutch Engineering Services Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Dutch Engineering Services Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Robert Pola
Chartered Accountant
2 Low Road
Congham
Kings Lynn
Norfolk
PE32 1AE
13 March 2024
DUTCH ENGINEERING SERVICES LIMITED
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 6 78,215 56,756
_______ _______
78,215 56,756
Current assets
Stocks 209,734 120,186
Debtors 7 298,434 161,728
Cash at bank and in hand 56,615 35,067
_______ _______
564,783 316,981
Creditors: amounts falling due
within one year 8 ( 217,403) ( 144,309)
_______ _______
Net current assets 347,380 172,672
_______ _______
Total assets less current liabilities 425,595 229,428
Provisions for liabilities 9 ( 8,297) ( 4,086)
_______ _______
Net assets 417,298 225,342
_______ _______
Capital and reserves
Called up share capital 11 110 110
Profit and loss account 417,188 225,232
_______ _______
Shareholders funds 417,298 225,342
_______ _______
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 March 2024 , and are signed on behalf of the board by:
Mr J. W. Burrows
Director
Company registration number: 03070289
DUTCH ENGINEERING SERVICES LIMITED
Notes to the financial statements
Year ended 31 December 2023
1. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 2 % reducing balance
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
3. Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
4. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2023 2022
£ £
Depreciation of tangible assets 5,452 4,514
_______ _______
5. Tax on profit
Major components of tax expense
2023 2022
£ £
Current tax:
UK current tax expense 136,856 34,164
_______ _______
Deferred tax:
Origination and reversal of timing differences 4,211 ( 721)
_______ _______
Tax on profit 141,067 33,443
_______ _______
6. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 January 2023 59,259 55,310 49,943 164,512
Additions - 23,202 3,709 26,911
_______ _______ _______ _______
At 31 December 2023 59,259 78,512 53,652 191,423
_______ _______ _______ _______
Depreciation
At 1 January 2023 24,010 43,145 40,601 107,756
Charge for the year 705 3,013 1,734 5,452
_______ _______ _______ _______
At 31 December 2023 24,715 46,158 42,335 113,208
_______ _______ _______ _______
Carrying amount
At 31 December 2023 34,544 32,354 11,317 78,215
_______ _______ _______ _______
At 31 December 2022 35,249 12,165 9,342 56,756
_______ _______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 271,023 137,776
Amounts owed by group undertakings 14,081 22,277
Other debtors 13,330 1,675
_______ _______
298,434 161,728
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 27,123 79,856
Corporation tax 136,856 34,164
Social security and other taxes 49,462 17,663
Other creditors 3,962 12,626
_______ _______
217,403 144,309
_______ _______
9. Provisions
Deferred tax (note 10) Total
£ £
At 1 January 2023 4,086 4,086
Additions 4,211 4,211
_______ _______
At 31 December 2023 8,297 8,297
_______ _______
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023 2022
£ £
Included in provisions (note 9) 8,297 4,086
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2023 2022
£ £
Accelerated capital allowances 8,297 4,086
_______ _______
11. Called up share capital
Authorised share capital
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 1,000 1,000 1,000 1,000
Ordinary Z Non Voting shares of £ 1.00 each 10 10 10 10
_______ _______ _______ _______
1,010 1,010 1,010 1,010
_______ _______ _______ _______
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
Ordinary Z Non Voting shares of £ 1.00 each 10 10 10 10
_______ _______ _______ _______
110 110 110 110
_______ _______ _______ _______