Company registration number: 01594789
Unaudited financial statements
for the year ended 30 September 2024
for
Daly Engineering Services Limited
Pages for filing with the Registrar
Company registration number: 01594789
Daly Engineering Services Limited
Balance sheet
as at 30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 36,519 37,061
Investments 5 162 162
36,681 37,223
Current assets
Stocks 3,000 3,000
Debtors 550,882 545,000
Cash at bank and in hand 585,707 747,062
1,139,589 1,295,062
Creditors: amounts falling due within one
year
(803,372) (968,791)
Net current assets 336,217 326,271
Total assets less current liabilities 372,898 363,494
Creditors: Amounts falling due after more
than one year
- (4,590)
Provisions for liabilities 160,758 164,624
NET ASSETS 533,656 523,528
Capital and reserves
Called up share capital 35,000 35,000
Profit and loss account 498,656 488,528
TOTAL EQUITY 533,656 523,528
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 30 September 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 01594789
Daly Engineering Services Limited
Balance sheet - continued
as at 30 September 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 22 May 2025 and signed on its behalf by:
Mr P Hucker, Director
22 May 2025
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Daly Engineering Services Limited
Notes to the financial statements
for the year ended 30 September 2024
1 Company information
Daly Engineering Services Limited is a private company registered in England and Wales. Its registered number is 01594789. The company is limited by shares. Its registered office is 19 Falklands Close, Coventry, CV4 8AG.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and machinery - 10% straight line
Fixtures & fittings - 20% straight line
Motor vehicles - 25% reducing balance
Computer equipment - 20% straight line
Investments in subsidiaries
Investments in subsidiaries are recognised at cost.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
3
Daly Engineering Services Limited
Notes to the financial statements - continued
for the year ended 30 September 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. 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 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 24 (2023 - 26).
4
Daly Engineering Services Limited
Notes to the financial statements - continued
for the year ended 30 September 2024
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 October 2023 253,227
Additions 10,179
At 30 September 2024 263,406
Depreciation
At 1 October 2023 216,166
Charge for year 10,721
At 30 September 2024 226,887
Net book value
At 30 September 2024 36,519
At 30 September 2023 37,061
5 Fixed asset investments
Investments other than loans
Shares in
group
undertakings
and
participating
interests
£
Cost
At 1 October 2023 162
At 30 September 2024 162
Net book value
At 30 September 2024 162
At 30 September 2023 162
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