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REGISTERED NUMBER: 01672231 (England and Wales)














D.R.N. ENGINEERING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






D.R.N. ENGINEERING LIMITED (REGISTERED NUMBER: 01672231)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


D.R.N. ENGINEERING LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTORS: P D Newport
Mrs B E L Newport
G J Oakley
C R Newport





REGISTERED OFFICE: 2 Trojan Court
Laporte Way
Luton
Bedfordshire
LU4 8RN





REGISTERED NUMBER: 01672231 (England and Wales)





ACCOUNTANTS: Miller & Co
Chartered Accountants
5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE

D.R.N. ENGINEERING LIMITED (REGISTERED NUMBER: 01672231)

STATEMENT OF FINANCIAL POSITION
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 279,058 289,722

CURRENT ASSETS
Stocks 32,895 33,425
Debtors 6 319,628 376,860
Cash at bank and in hand 1,608,615 1,582,276
1,961,138 1,992,561
CREDITORS
Amounts falling due within one year 7 229,016 404,026
NET CURRENT ASSETS 1,732,122 1,588,535
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,011,180

1,878,257

PROVISIONS FOR LIABILITIES 58,777 41,069
NET ASSETS 1,952,403 1,837,188

CAPITAL AND RESERVES
Called up, paid and allotted share capital 100 100
Retained earnings 1,952,303 1,837,088
SHAREHOLDERS' FUNDS 1,952,403 1,837,188

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

D.R.N. ENGINEERING LIMITED (REGISTERED NUMBER: 01672231)

STATEMENT OF FINANCIAL POSITION - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2023 and were signed on its behalf by:





P D Newport - Director


D.R.N. ENGINEERING LIMITED (REGISTERED NUMBER: 01672231)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

D.R.N Engineering Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Income recognition
Income is recognised when goods/services have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Leasehold property - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

D.R.N. ENGINEERING LIMITED (REGISTERED NUMBER: 01672231)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 21 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2022 10,957 1,782,037 72,307 56,540 1,921,841
Additions - 149,192 2,273 - 151,465
Disposals - (168,906 ) - (39,691 ) (208,597 )
At 31 October 2023 10,957 1,762,323 74,580 16,849 1,864,709
DEPRECIATION
At 1 November 2022 4,825 1,531,519 62,251 33,524 1,632,119
Charge for year 1,226 139,339 4,055 2,773 147,393
Eliminated on disposal - (168,906 ) - (24,955 ) (193,861 )
At 31 October 2023 6,051 1,501,952 66,306 11,342 1,585,651
NET BOOK VALUE
At 31 October 2023 4,906 260,371 8,274 5,507 279,058
At 31 October 2022 6,132 250,518 10,056 23,016 289,722

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 262,926 325,708
Other debtors 56,702 51,152
319,628 376,860

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 4,038
Trade creditors 82,971 282,289
Taxation and social security 128,024 90,294
Other creditors 18,021 27,405
229,016 404,026

D.R.N. ENGINEERING LIMITED (REGISTERED NUMBER: 01672231)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

8. LEASE COMMITMENTS

At 31 October 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £682,500 (2022 - £760,500).

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
P D Newport
Balance outstanding at start of year - 55,448
Amounts repaid - (55,448 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -