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REGISTERED NUMBER: 04724067 (England and Wales)










Unaudited Financial Statements for the Year Ended 29 February 2024

for

DURIGHT ENGINEERING LIMITED

DURIGHT ENGINEERING LIMITED (REGISTERED NUMBER: 04724067)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

DURIGHT ENGINEERING LIMITED

Company Information
for the Year Ended 29 February 2024







DIRECTORS: R P Taylor
Mrs A S Taylor
Mrs E J Durkin





REGISTERED OFFICE: Portway Road
Wednesbury
West Midlands
WS10 7DZ





REGISTERED NUMBER: 04724067 (England and Wales)





ACCOUNTANTS: CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW

DURIGHT ENGINEERING LIMITED (REGISTERED NUMBER: 04724067)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,643
Tangible assets 5 1,803,614 1,943,723
Investments 6 - -
1,803,614 1,946,366

CURRENT ASSETS
Stocks 136,070 58,038
Debtors 7 688,863 929,909
Cash at bank and in hand 374,899 282,458
1,199,832 1,270,405
CREDITORS
Amounts falling due within one year 8 825,795 717,914
NET CURRENT ASSETS 374,037 552,491
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,177,651

2,498,857

CREDITORS
Amounts falling due after more than one year 9 (910,205 ) (1,069,131 )

PROVISIONS FOR LIABILITIES (253,273 ) (228,031 )
NET ASSETS 1,014,173 1,201,695

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,013,173 1,200,695
SHAREHOLDERS' FUNDS 1,014,173 1,201,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

DURIGHT ENGINEERING LIMITED (REGISTERED NUMBER: 04724067)

Balance Sheet - continued
29 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2024 and were signed on its behalf by:





Mrs E J Durkin - Director


DURIGHT ENGINEERING LIMITED (REGISTERED NUMBER: 04724067)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

Duright Engineering 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.

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
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset of 20 years.

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new assets.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

DURIGHT ENGINEERING LIMITED (REGISTERED NUMBER: 04724067)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


2. ACCOUNTING POLICIES - continued

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.

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 42 (2023 - 43 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 211,420
AMORTISATION
At 1 March 2023 208,777
Amortisation for year 2,643
At 29 February 2024 211,420
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 2,643

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2023 3,630,048 100,737 112,475 3,843,260
Additions 185,520 272 - 185,792
At 29 February 2024 3,815,568 101,009 112,475 4,029,052
DEPRECIATION
At 1 March 2023 1,765,463 88,714 45,360 1,899,537
Charge for year 306,687 2,435 16,779 325,901
At 29 February 2024 2,072,150 91,149 62,139 2,225,438
NET BOOK VALUE
At 29 February 2024 1,743,418 9,860 50,336 1,803,614
At 28 February 2023 1,864,585 12,023 67,115 1,943,723

DURIGHT ENGINEERING LIMITED (REGISTERED NUMBER: 04724067)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 25,904
PROVISIONS
At 1 March 2023
and 29 February 2024 25,904
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 344,985 495,790
Other debtors 343,878 434,119
688,863 929,909

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 285,850 255,406
Trade creditors 400,646 385,701
Taxation and social security 131,482 67,180
Other creditors 7,817 9,627
825,795 717,914

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 910,205 1,069,131

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
R P Taylor
Balance outstanding at start of year 174,019 12,119
Amounts advanced 89,911 178,900
Amounts repaid (120,500 ) (17,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 143,430 174,019

DURIGHT ENGINEERING LIMITED (REGISTERED NUMBER: 04724067)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs E J Durkin
Balance outstanding at start of year 174,019 (4,689 )
Amounts advanced 88,338 217,108
Amounts repaid (116,900 ) (38,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 145,457 174,019

Mrs A S Taylor
Balance outstanding at start of year - -
Amounts advanced 3,238 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,238 -

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Duright Engineering Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Duright Engineering Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Duright Engineering Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Duright Engineering Limited and state those matters that we have agreed to state to the Board of Directors of Duright Engineering Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Duright Engineering Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Duright Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Duright Engineering Limited. You consider that Duright Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Duright Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW


Date: .............................................