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REGISTERED NUMBER: 04660644















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Downey Engineering Limited

Downey Engineering Limited (Registered number: 04660644)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Downey Engineering Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr P Downey
Mrs C Downey





REGISTERED OFFICE: The Coach House
Cwmyoy
Abergavenny
Monmouthshire
NP7 7NT





REGISTERED NUMBER: 04660644





ACCOUNTANTS: Golden Valley Accountancy Limited
Unit 4
Westwood Industrial Estate
Pontrilas
Herefordshire
HR2 0EL

Downey Engineering Limited (Registered number: 04660644)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 60,000 60,000
Tangible assets 5 6,045 4,611
66,045 64,611

CURRENT ASSETS
Stocks 3,450 14,136
Debtors 6 1,192 3,761
Cash at bank 1,811 2,186
6,453 20,083
CREDITORS
Amounts falling due within one year 7 2,434 9,223
NET CURRENT ASSETS 4,019 10,860
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,064

75,471

CREDITORS
Amounts falling due after more than
one year

8

64,762

66,265
NET ASSETS 5,302 9,206

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5,202 9,106
SHAREHOLDERS' FUNDS 5,302 9,206

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Downey Engineering Limited (Registered number: 04660644)

Balance Sheet - continued
31 March 2024


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 Mr. P. Downey the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:





Mr P Downey - Director


Downey Engineering Limited (Registered number: 04660644)

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

1. STATUTORY INFORMATION

Downey Engineering Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Downey Engineering Limited (Registered number: 04660644)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 60,000
NET BOOK VALUE
At 31 March 2024 60,000
At 31 March 2023 60,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 130,903
Additions 1,913
At 31 March 2024 132,816
DEPRECIATION
At 1 April 2023 126,292
Charge for year 479
At 31 March 2024 126,771
NET BOOK VALUE
At 31 March 2024 6,045
At 31 March 2023 4,611

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,192 30
Other debtors - 3,731
1,192 3,761

Downey Engineering Limited (Registered number: 04660644)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 653 2,225
Taxation and social security 131 5,398
Other creditors 1,650 1,600
2,434 9,223

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 64,762 66,265