SRJ Davison Limited NI644347 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is machinery manufacture. Digita Accounts Production Advanced 6.30.9574.0 true NI644347 2023-04-01 2024-03-31 NI644347 2024-03-31 NI644347 bus:OrdinaryShareClass1 2024-03-31 NI644347 core:CurrentFinancialInstruments 2024-03-31 NI644347 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI644347 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 NI644347 core:FurnitureFittingsToolsEquipment 2024-03-31 NI644347 core:LandBuildings 2024-03-31 NI644347 core:OtherPropertyPlantEquipment 2024-03-31 NI644347 bus:SmallEntities 2023-04-01 2024-03-31 NI644347 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 NI644347 bus:FilletedAccounts 2023-04-01 2024-03-31 NI644347 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI644347 bus:RegisteredOffice 2023-04-01 2024-03-31 NI644347 bus:Director1 2023-04-01 2024-03-31 NI644347 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 NI644347 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI644347 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 NI644347 core:LandBuildings 2023-04-01 2024-03-31 NI644347 core:LeaseholdImprovements 2023-04-01 2024-03-31 NI644347 core:OfficeEquipment 2023-04-01 2024-03-31 NI644347 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 NI644347 core:PlantMachinery 2023-04-01 2024-03-31 NI644347 countries:NorthernIreland 2023-04-01 2024-03-31 NI644347 2023-03-31 NI644347 core:FurnitureFittingsToolsEquipment 2023-03-31 NI644347 core:LandBuildings 2023-03-31 NI644347 core:OtherPropertyPlantEquipment 2023-03-31 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 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI644347

SRJ Davison Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

SRJ Davison Limited

(Registration number: NI644347)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

470,631

611,453

Current assets

 

Stocks

6

135,000

104,000

Debtors

7

307,145

295,396

Cash at bank and in hand

 

682,728

384,317

 

1,124,873

783,713

Creditors: Amounts falling due within one year

8

(216,520)

(101,795)

Net current assets

 

908,353

681,918

Total assets less current liabilities

 

1,378,984

1,293,371

Creditors: Amounts falling due after more than one year

8

(431,554)

(440,607)

Provisions for liabilities

(85,287)

(63,332)

Net assets

 

862,143

789,432

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

862,043

789,332

Shareholders' funds

 

862,143

789,432

For the financial year ending 31 March 2024 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 2024

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 2 August 2024
 

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

 

SRJ Davison Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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 2 August 2024.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

 

SRJ Davison Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

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 2024

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 16 (2023 - 15).

4

Other operating income

Operating income in 2023 included £3,000 of government assistance received by the Company during the Covid-19 pandemic. The balance related 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 2024

5

Tangible assets

Leasehold improvements
£

Office equipment, fixtures and fittings
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 April 2023

163,832

27,968

907,960

1,099,760

Additions

-

642

5,832

6,474

At 31 March 2024

163,832

28,610

913,792

1,106,234

Depreciation

At 1 April 2023

24,099

18,045

446,163

488,307

Charge for the year

6,553

4,038

136,705

147,296

At 31 March 2024

30,652

22,083

582,868

635,603

Carrying amount

At 31 March 2024

133,180

6,527

330,924

470,631

At 31 March 2023

139,733

9,923

461,797

611,453

6

Stocks

2024
£

2023
£

Stock and work in progress

135,000

104,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

239,645

295,396

Other debtors

67,500

-

 

307,145

295,396

 

SRJ Davison Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

143,145

61,165

Other creditors

64,551

14,657

Accruals and deferred income

8,824

25,973

216,520

101,795

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

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: £431,554 (2023: £437,567).