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REGISTERED NUMBER: 08617524 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

DANBYS PRECISION ENGINEERING LIMITED

DANBYS PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 08617524)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


DANBYS PRECISION ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: M A Danby
A T Danby





REGISTERED OFFICE: Annie Reed Road
Beverley
E. Yorks
HU17 0LF





REGISTERED NUMBER: 08617524 (England and Wales)





ACCOUNTANTS: Majors Limited
F15 The Bloc
38 Springfield Way
Anlaby
Hull
E. Yorks
HU10 6RJ

DANBYS PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 08617524)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 949,344 862,825

CURRENT ASSETS
Stocks 22,620 20,120
Debtors 5 324,372 330,455
Cash at bank 113,314 116,331
460,306 466,906
CREDITORS
Amounts falling due within one year 6 290,744 305,633
NET CURRENT ASSETS 169,562 161,273
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,118,906

1,024,098

CREDITORS
Amounts falling due after more than
one year

7

(385,491

)

(388,779

)

PROVISIONS FOR LIABILITIES (80,793 ) (64,354 )
NET ASSETS 652,622 570,965

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 652,522 570,865
SHAREHOLDERS' FUNDS 652,622 570,965

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.

DANBYS PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 08617524)

BALANCE SHEET - continued
31 JULY 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 23 April 2025 and were signed on its behalf by:




M A Danby - Director



A T Danby - Director


DANBYS PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 08617524)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Danbys Precision 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.

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 etc - 25% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

DANBYS PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 08617524)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 August 2023 524,121 8,811 610,434
Additions - - 128,364
At 31 July 2024 524,121 8,811 738,798
DEPRECIATION
At 1 August 2023 - 8,811 272,916
Charge for year - - 41,321
At 31 July 2024 - 8,811 314,237
NET BOOK VALUE
At 31 July 2024 524,121 - 424,561
At 31 July 2023 524,121 - 337,518

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2023 1,142 3,962 1,148,470
Additions - - 128,364
At 31 July 2024 1,142 3,962 1,276,834
DEPRECIATION
At 1 August 2023 768 3,150 285,645
Charge for year 207 317 41,845
At 31 July 2024 975 3,467 327,490
NET BOOK VALUE
At 31 July 2024 167 495 949,344
At 31 July 2023 374 812 862,825

DANBYS PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 08617524)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 285,438 320,390
Other debtors 3,040 2,839
Directors' current accounts 32,947 4,189
Prepayments and accrued income 2,947 3,037
324,372 330,455

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,483 10,847
Hire purchase contracts 58,770 28,439
Trade creditors 40,104 63,653
Tax 20,596 19,568
Social security and other taxes 2,339 14,144
VAT 98,892 93,910
Accrued expenses 58,560 75,072
290,744 305,633

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 12,155 11,482
Bank loans - 2-5 years 50,125 47,351
Bank loans more 5 yr by instal 268,270 283,209
Hire purchase contracts 54,941 46,737
385,491 388,779

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 268,270 283,209

DANBYS PRECISION ENGINEERING LIMITED (REGISTERED NUMBER: 08617524)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 342,033 352,889

The debt is secured with a fixed charge over the property and a negative pledge..

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
M A Danby
Balance outstanding at start of year 2,095 38,328
Amounts advanced 129,296 88,605
Amounts repaid (113,824 ) (124,838 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,567 2,095

A T Danby
Balance outstanding at start of year 2,095 39,870
Amounts advanced 122,415 87,778
Amounts repaid (109,130 ) (125,553 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,380 2,095