Company registration number 08898150 (England and Wales)
DRYTEC SPRAY DRYING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
DRYTEC SPRAY DRYING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
DRYTEC SPRAY DRYING LIMITED (REGISTERED NUMBER: 08898150)
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
410,620
450,357
Tangible assets
4
186,055
191,253
596,675
641,610
Current assets
Stocks
68,534
131,568
Debtors
5
154,532
292,303
Cash at bank and in hand
21,096
60,329
244,162
484,200
Creditors: amounts falling due within one year
6
(264,094)
(168,553)
Net current (liabilities)/assets
(19,932)
315,647
Total assets less current liabilities
576,743
957,257
Creditors: amounts falling due after more than one year
7
(249,274)
(31,570)
Net assets
327,469
925,687
Capital and reserves
Called up share capital
492,426
492,426
Revaluation reserve
150,000
150,000
Profit and loss reserves
(314,957)
283,261
Total equity
327,469
925,687
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
DRYTEC SPRAY DRYING LIMITED (REGISTERED NUMBER: 08898150)
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 August 2024 and are signed on its behalf by:
M A Loveday
Director
DRYTEC SPRAY DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
Drytec Spray Drying Limited is a private company limited by shares incorporated in England and Wales. The registered office is 73 Henwood Green Road, Pembury, Tunbridge Wells, Kent, TN2 4LW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
10% per annum straight line
Fixtures and fittings
10% per annum straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Cost is determined using the first-in, first-out (FIFO) method.
DRYTEC SPRAY DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
21
15
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
794,745
Amortisation and impairment
At 1 May 2023
344,388
Amortisation charged for the year
39,737
At 30 April 2024
384,125
Carrying amount
At 30 April 2024
410,620
At 30 April 2023
450,357
DRYTEC SPRAY DRYING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 and 30 April 2024
201,979
Depreciation and impairment
At 1 May 2023
10,726
Depreciation charged in the year
5,198
At 30 April 2024
15,924
Carrying amount
At 30 April 2024
186,055
At 30 April 2023
191,253
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
125,571
203,456
Other debtors
28,961
88,847
154,532
292,303
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
81,756
67,432
Trade creditors
122,690
4,967
Taxation and social security
37,678
54,655
Other creditors
21,970
41,499
264,094
168,553
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
249,274
31,570