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Registration number: 04057154

S.D.J. Fluid Systems Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

S.D.J. Fluid Systems Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

S.D.J. Fluid Systems Limited

Company Information

Directors

Mr SD Johnson

Mr C I J Johnson

Registered office

Unit 4 Eastern Industrial Estate
Jackson Close
Portsmouth
Hampshire
PO6 1QW

 

S.D.J. Fluid Systems Limited

(Registration number: 04057154)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

196,890

82,126

Current assets

 

Stocks

6

68,463

58,474

Debtors

7

547,974

472,979

Cash at bank and in hand

 

467,556

429,483

 

1,083,993

960,936

Creditors: Amounts falling due within one year

8

(388,181)

(359,827)

Net current assets

 

695,812

601,109

Total assets less current liabilities

 

892,702

683,235

Creditors: Amounts falling due after more than one year

8

(18,493)

(43,349)

Provisions for liabilities

(37,204)

(15,604)

Net assets

 

837,005

624,282

Capital and reserves

 

Called up share capital

5,190

5,190

Retained earnings

831,815

619,092

Shareholders' funds

 

837,005

624,282

 

S.D.J. Fluid Systems Limited

(Registration number: 04057154)
Balance Sheet as at 30 September 2024 (continued)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 November 2024 and signed on its behalf by:
 

.........................................
Mr SD Johnson
Director

   
     
 

S.D.J. Fluid Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 4 Eastern Industrial Estate
Jackson Close
Portsmouth
Hampshire
PO6 1QW
England

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

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.

 

S.D.J. Fluid Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

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

10 years straightt line

Fixtures and fittings

10 years straight line

Motor vehicles

3 years straight line

Office equipment

5 years straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years 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.

 

S.D.J. Fluid Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

S.D.J. Fluid Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 9).

 

S.D.J. Fluid Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

16,563

16,563

At 30 September 2024

16,563

16,563

Amortisation

At 1 October 2023

16,563

16,563

At 30 September 2024

16,563

16,563

Carrying amount

At 30 September 2024

-

-

 

S.D.J. Fluid Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

54,579

123,346

112,257

112,743

402,925

Additions

28,747

285

5,147

116,142

150,321

Disposals

(31,189)

-

-

-

(31,189)

At 30 September 2024

52,137

123,631

117,404

228,885

522,057

Depreciation

At 1 October 2023

37,506

95,475

85,537

102,281

320,799

Charge for the year

4,093

3,680

2,198

25,586

35,557

Eliminated on disposal

(31,189)

-

-

-

(31,189)

At 30 September 2024

10,410

99,155

87,735

127,867

325,167

Carrying amount

At 30 September 2024

41,727

24,476

29,669

101,018

196,890

At 30 September 2023

17,073

27,871

26,720

10,462

82,126

 

S.D.J. Fluid Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

6

Stocks

2024
£

2023
£

Raw materials and consumables

68,463

58,474

7

Debtors

Current

2024
£

2023
£

Trade debtors

317,359

174,913

Prepayments

17,133

6,367

Other debtors

213,482

291,699

 

547,974

472,979

 

S.D.J. Fluid Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,332

15,189

Trade creditors

 

129,965

66,606

Taxation and social security

 

192,716

208,939

Accruals and deferred income

 

35,539

40,492

Other creditors

 

19,629

28,601

 

388,181

359,827

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

18,493

43,349

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,033

17,365

HP and finance lease liabilities

11,460

25,984

18,493

43,349

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,332

10,077

Directors current account

-

5,112

10,332

15,189

 

S.D.J. Fluid Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

10

Related party transactions

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

291,699

291,699

Repaid

(78,217)

(78,217)

At end of period

213,482

213,482

2023

Other related parties
£

Total
£

At start of period

227,916

227,916

Advanced

63,783

63,783

At end of period

291,699

291,699

Terms of loans to related parties

S D J Fluid Systems Ltd has provided a loan to Fluid Systems Ltd which is under common control with Mr S Johnson. The value of this loan is £96,739 and there are no interest or repayment terms attached to this loan.

S D J Fluid Systems Ltd has provided a loan to G C J Fluid Systems Ltd which is under common control with Mr S Johnson. The value of this loan is £31,870 and there are no interest or repayment terms attached to this loan.

S D J Fluid Systems Ltd has provided a loan to SDJ Property Holdings Ltd which is under common control with Mr S Johnson. The value of this loan is £63,764 and there are no interest or repayment terms attached to this loan.

S D J Fluid Systems Ltd has provided a loan to Fluid Systems Exeter Ltd which is under the common control of Mr S Johnson. The value of this loan is £21,109 and there are no interest or repayment terms attached to this loan.






 

S.D.J. Fluid Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

10

Related party transactions (continued)

Loans from related parties

2024

Key management
£

Total
£

At start of period

5,112

5,112

Repaid

(5,112)

(5,112)

At end of period

-

-

2023

Key management
£

Total
£

At start of period

34

34

Advanced

5,078

5,078

At end of period

5,112

5,112