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Registered Number: 01999307
England and Wales

 

 

 

DERWENTDALE ENGINEERING LIMITED


Unaudited Filleted Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 165,309    208,779 
165,309    208,779 
Current assets      
Stocks 5 113,164    128,455 
Debtors 6 133,008    91,484 
Cash at bank and in hand 131,760    223,536 
377,932    443,475 
Creditors: amount falling due within one year 7 (88,351)   (105,919)
Net current assets 289,581    337,556 
 
Total assets less current liabilities 454,890    546,335 
Creditors: amount falling due after more than one year 8 (2,915)   (36,696)
Provisions for liabilities 9 (30,204)   (35,577)
Net assets 421,771    474,062 
 

Capital and reserves
     
Called up share capital 132,200    132,200 
Profit and loss account 289,571    341,862 
Shareholders' funds 421,771    474,062 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 24 March 2025 and were signed on its behalf by:


-------------------------------
Gloria Hart
Director
1
General Information
Derwentdale Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 01999307, registration address Unit 26 Stella Gill Industrial Estate, Chester-le-Street, Co Durham, DH2 2RG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 3 years Straight Line
Leasehold property improvement 15% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Where the substance of a contract is that the contractual obligations are performed gradually over time, revenue is recognised as contract activity progresses to reflect the partial performance of our contractual obligations. The amount of revenue included reflects the accrual of the right to consideration as contract activity progresses by reference to value of the work performed.





Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 17 (2023 : 19).
3.

Financial Commitments, Guarantees and Contingencies

Total future minimum payments under non-cancellable operating leases as at 31st December 2024 is £14,768 (2023 £20,101). 

4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Leasehold property improvement   Total
  £   £   £   £   £   £
At 01 January 2024 1,015,947    75,201    16,604    13,606    10,383    1,131,741 
Additions     180    551      731 
Disposals   (15,999)         (15,999)
At 31 December 2024 1,015,947    59,202    16,784    14,157    10,383    1,116,473 
Depreciation
At 01 January 2024 839,728    54,312    11,419    7,842    9,660    922,961 
Charge for year 26,433    4,128    778    3,786    108    35,233 
On disposals   (7,030)         (7,030)
At 31 December 2024 866,161    51,410    12,197    11,628    9,768    951,164 
Net book values
Closing balance as at 31 December 2024 149,786    7,792    4,587    2,529    615    165,309 
Opening balance as at 01 January 2024 176,219    20,889    5,185    5,764    722    208,779 

The net book value of assets financed by hire purchase is £68,782 (2023: £91,419)

5.

Stocks

2024
£
  2023
£
Work in Progress 104,352    97,322 
Stocks 8,812    31,133 
113,164    128,455 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 122,513    76,799 
Prepayments & Accrued Income 10,449    12,138 
Other Debtors 11    57 
Corporation Tax 35    2,490 
133,008    91,484 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 12,994    21,556 
PAYE & Social Security 9,595    13,104 
Accrued Expenses 5,682    15,396 
Deferred Grants 103    142 
Other Creditors   15 
Obligations under HP/Financial Leases 28,000    31,600 
VAT 31,977    24,106 
88,351    105,919 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Deferred Grants 582    663 
Obligations Under HP/Financial Leases 2,333    36,033 
2,915    36,696 
Future hire purchase obligations are secured on the asset to which they relate. 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 35,577    43,337 
Charged to Profit & Loss (5,373)   (7,760)
30,204    35,577 

2