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REGISTERED NUMBER: 00407703 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

DOUGLAS ELECTRONIC INDUSTRIES LIMITED

DOUGLAS ELECTRONIC INDUSTRIES LIMITED (REGISTERED NUMBER: 00407703)

Contents of the Financial Statements
for the year ended 31 July 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DOUGLAS ELECTRONIC INDUSTRIES LIMITED

Company Information
for the year ended 31 July 2024







Directors: Mr P Bailey
Mr A D Crate
Miss C G Merriman





Registered office: Unit 12
Thames Street
Louth
Lincolnshire
LN11 7AD





Registered number: 00407703 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
23 Algitha Road
Skegness
United Kingdom
PE25 2AG

DOUGLAS ELECTRONIC INDUSTRIES LIMITED (REGISTERED NUMBER: 00407703)

Statement of Financial Position
31 July 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 1,247,732 1,248,674

Current assets
Stocks 5 59,630 64,411
Debtors 6 116,875 117,455
Cash at bank and in hand 145,098 117,366
321,603 299,232
Creditors
Amounts falling due within one year 7 41,754 43,289
Net current assets 279,849 255,943
Total assets less current liabilities 1,527,581 1,504,617

Provisions for liabilities 995 1,173
Net assets 1,526,586 1,503,444

Capital and reserves
Called up share capital 48,125 48,125
Capital redemption reserve 8 51,875 51,875
Fair value reserve 8 242,187 242,187
Retained earnings 8 1,184,399 1,161,257
Shareholders' funds 1,526,586 1,503,444

DOUGLAS ELECTRONIC INDUSTRIES LIMITED (REGISTERED NUMBER: 00407703)

Statement of Financial Position - continued
31 July 2024


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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:





Mr A D Crate - Director


DOUGLAS ELECTRONIC INDUSTRIES LIMITED (REGISTERED NUMBER: 00407703)

Notes to the Financial Statements
for the year ended 31 July 2024


1. Statutory information

Douglas Electronic Industries 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 (£).


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 as modified by the revaluation of certain assets.

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

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 - 15% on reducing balance
Computer equipment - 20% on reducing balance

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
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

3. Employees and directors

The average number of employees during the year was 7 (2023 - 7 ) .

DOUGLAS ELECTRONIC INDUSTRIES LIMITED (REGISTERED NUMBER: 00407703)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


4. Tangible fixed assets
Freehold Plant and Computer
property machinery equipment Totals
£ £ £ £
Cost or valuation
At 1 August 2023
and 31 July 2024 1,242,500 46,971 2,065 1,291,536
Depreciation
At 1 August 2023 - 40,982 1,880 42,862
Charge for year - 899 43 942
At 31 July 2024 - 41,881 1,923 43,804
Net book value
At 31 July 2024 1,242,500 5,090 142 1,247,732
At 31 July 2023 1,242,500 5,989 185 1,248,674

Cost or valuation at 31 July 2024 is represented by:

Freehold Plant and Computer
property machinery equipment Totals
£ £ £ £
Valuation in 2020 671,127 - - 671,127
Cost 571,373 46,971 2,065 620,409
1,242,500 46,971 2,065 1,291,536

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£ £
Cost 571,373 571,373

Freehold land and buildings were valued on an open market basis on 1 August 2019 by Hunters Turner Evans Stevens .

5. Stocks
2024 2023
£ £
Stocks 56,050 53,837
Work-in-progress 3,580 10,574
59,630 64,411

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 101,453 86,611
Other debtors 15,422 30,844
116,875 117,455

DOUGLAS ELECTRONIC INDUSTRIES LIMITED (REGISTERED NUMBER: 00407703)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 21,424 34,514
Corporation tax 5,678 557
Social security and other taxes 1,183 1,158
VAT 1,813 4,248
Other creditors 11,656 2,812
41,754 43,289

8. Reserves
Capital
Retained redemption Fair value
earnings reserve reserve Totals
£ £ £ £

At 1 August 2023 1,161,257 51,875 242,187 1,455,319
Profit for the year 23,142 23,142
At 31 July 2024 1,184,399 51,875 242,187 1,478,461