Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falsetrueNo description of principal activity1920falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03697637 2023-01-01 2023-12-31 03697637 2022-01-01 2022-12-31 03697637 2023-12-31 03697637 2022-12-31 03697637 c:Director1 2023-01-01 2023-12-31 03697637 d:PlantMachinery 2023-01-01 2023-12-31 03697637 d:PlantMachinery 2023-12-31 03697637 d:PlantMachinery 2022-12-31 03697637 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03697637 d:MotorVehicles 2023-01-01 2023-12-31 03697637 d:MotorVehicles 2023-12-31 03697637 d:MotorVehicles 2022-12-31 03697637 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03697637 d:FurnitureFittings 2023-01-01 2023-12-31 03697637 d:FurnitureFittings 2023-12-31 03697637 d:FurnitureFittings 2022-12-31 03697637 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03697637 d:OfficeEquipment 2023-01-01 2023-12-31 03697637 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03697637 d:CurrentFinancialInstruments 2023-12-31 03697637 d:CurrentFinancialInstruments 2022-12-31 03697637 d:Non-currentFinancialInstruments 2023-12-31 03697637 d:Non-currentFinancialInstruments 2022-12-31 03697637 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03697637 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03697637 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03697637 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03697637 d:ShareCapital 2023-12-31 03697637 d:ShareCapital 2022-12-31 03697637 d:RetainedEarningsAccumulatedLosses 2023-12-31 03697637 d:RetainedEarningsAccumulatedLosses 2022-12-31 03697637 c:FRS102 2023-01-01 2023-12-31 03697637 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03697637 c:FullAccounts 2023-01-01 2023-12-31 03697637 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03697637 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 03697637 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 03697637 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 03697637 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 03697637 2 2023-01-01 2023-12-31 03697637 6 2023-01-01 2023-12-31 03697637 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-12-31 03697637 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-31 03697637 d:LeasedAssetsHeldAsLessee 2023-12-31 03697637 d:LeasedAssetsHeldAsLessee 2022-12-31 03697637 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 03697637

























DUNBEATH ENGINEERING LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023












Fletcher & Partners
Chartered Accountants
Salisbury

 
DUNBEATH ENGINEERING LIMITED
REGISTERED NUMBER:03697637

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
190,038
324,245

Investments
 5 
18
18

  
190,056
324,263

Current assets
  

Stocks
  
360,512
751,312

Debtors: amounts falling due within one year
 6 
408,076
418,020

Cash at bank and in hand
 7 
1,534
-

  
770,122
1,169,332

Creditors: amounts falling due within one year
 8 
(2,415,676)
(2,328,288)

Net current liabilities
  
 
 
(1,645,554)
 
 
(1,158,956)

Total assets less current liabilities
  
(1,455,498)
(834,693)

Creditors: amounts falling due after more than one year
 9 
-
(23,442)

  

Net liabilities
  
(1,455,498)
(858,135)


Capital and reserves
  

Called up share capital 
  
300,000
300,000

Profit and loss account
  
(1,755,498)
(1,158,135)

  
(1,455,498)
(858,135)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 September 2024.


Page 1

 
DUNBEATH ENGINEERING LIMITED
REGISTERED NUMBER:03697637

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023


Mark Jones
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
DUNBEATH ENGINEERING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Dunbeath Engineering Limited is a private company limited by shares registered in England and Wales with the registered number 03697637. Its registered office is at Unit 1 The Headlands, Downton, Salisbury SP5 3JJ.  Its principal activity is the manufacture of metal forming machinery. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
DUNBEATH ENGINEERING LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20 - 46 %
Motor vehicles
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
DUNBEATH ENGINEERING LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2022 - 20).

Page 5

 
DUNBEATH ENGINEERING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2023
2,778,224
15,170
61,068
2,854,462


Additions
2,035
-
259
2,294



At 31 December 2023

2,780,259
15,170
61,327
2,856,756



Depreciation


At 1 January 2023
2,454,213
15,170
60,834
2,530,217


Charge for the year on owned assets
136,349
-
152
136,501



At 31 December 2023

2,590,562
15,170
60,986
2,666,718



Net book value



At 31 December 2023
189,697
-
341
190,038



At 31 December 2022
324,011
-
234
324,245

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
119,242
158,721

119,242
158,721


5.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 January 2023
2
16
18



At 31 December 2023
2
16
18




Page 6

 
DUNBEATH ENGINEERING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
3,846
12,925

Other debtors
380,445
382,888

Prepayments and accrued income
23,785
22,207

408,076
418,020



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,534
-

Less: bank overdrafts
-
(1,580)

1,534
(1,580)



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
1,580

Trade creditors
293,499
267,538

Amounts owed to group undertakings
1,301,482
1,295,364

Other taxation and social security
34,049
29,120

Obligations under finance lease and hire purchase contracts
23,442
67,857

Other creditors
743,906
657,098

Accruals and deferred income
19,298
9,731

2,415,676
2,328,288



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
-
23,442

-
23,442


Page 7

 
DUNBEATH ENGINEERING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
27,034
77,612

Between 1-5 years
-
27,034

27,034
104,646


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £21,365 (2022 - £18,527) . Contributions totalling £nil (2022 - £nil) were payable to the fund at the balance sheet date and are included in creditors


12.


Related party transactions

At 31 December 2023 the company was owed £380,440 (2022: £382,869) by Dunbeath Partnership, and during the year ended 31 December 2023 it paid management charges of £25,200 (2022: £25,200) to Dunbeath Partnership.  The partners in Dunbeath Partnership are Stuart Murray Threipland (deceased) and Claire Murray Threipland.


Page 8