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REGISTERED NUMBER: 00371191 (England and Wales)

































Financial Statements

For The Year Ended

31 December 2024

for

DIDSBURY ENGINEERING CO LIMITED

DIDSBURY ENGINEERING CO LIMITED (REGISTERED NUMBER: 00371191)






Contents of the Financial Statements
For The Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DIDSBURY ENGINEERING CO LIMITED

Company Information
For The Year Ended 31 December 2024







DIRECTORS: Mr T Ghigi
Mr M R Linder



REGISTERED OFFICE: Unit 1b Lower Meadow Road
Brooke Park
Handforth
Wilmslow
Cheshire
SK9 3LP



REGISTERED NUMBER: 00371191 (England and Wales)



SENIOR STATUTORY AUDITOR: Steven John Collings FCCA



AUDITORS: Leavitt Walmsley Associates Limited
Chartered Certified Accountants and
Statutory Auditors
8 Eastway
Sale
Cheshire
M33 4DX

DIDSBURY ENGINEERING CO LIMITED (REGISTERED NUMBER: 00371191)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 9,923
Tangible assets 5 323,653 259,111
323,653 269,034

CURRENT ASSETS
Stocks 6 730,772 936,389
Debtors 7 4,026,876 1,030,772
Cash at bank and in hand 1,432,403 3,417,947
6,190,051 5,385,108
CREDITORS
Amounts falling due within one year 8 867,138 622,846
NET CURRENT ASSETS 5,322,913 4,762,262
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,646,566

5,031,296

PROVISIONS FOR LIABILITIES 30,377 63,735
NET ASSETS 5,616,189 4,967,561

CAPITAL AND RESERVES
Called up share capital 82,000 82,000
Retained earnings 10 5,534,189 4,885,561
5,616,189 4,967,561

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.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:





Mr T Ghigi - Director


DIDSBURY ENGINEERING CO LIMITED (REGISTERED NUMBER: 00371191)

Notes to the Financial Statements
For The Year Ended 31 December 2024

1. STATUTORY INFORMATION

Didsbury Engineering Co 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The items in the financial statements where these judgements and estimates have been made include:

- Assessing the useful economic lives attributed to tangible fixed assets used to determine the annual depreciation charge.

- The provision required for any bad or doubtful debts.

- Any provision required for obsolete or slow-moving stock.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company's policy of revenue recognition is to recognise a sale when the contractual obligations to the customer have been fulfilled. This usually arises on satisfactory completion of the work and dispatch of the goods to the customer.

Intangible assets
Since March 2023, development costs in respect of internally developed projects follow group policy and are written off to profit and loss as incurred.

Software costs are initially recognised at cost and are subsequently measured at cost less amortisation less any applicable impairment losses.

DIDSBURY ENGINEERING CO LIMITED (REGISTERED NUMBER: 00371191)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - at varying rates on cost
Plant and machinery - at varying rates on cost
Computer equipment - at varying rates on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs which are directly attributable in bringing the asset to its location and condition so that it is capable of operating in the manner intended by management.

Residual values used in the calculation of depreciable amount are the expected amounts which would currently be obtained from disposal of assets, after deducting the estimated costs of disposal, if the assets were already of the age and in the condition expected at the end of their useful lives.

Profits and losses on the disposal of fixed assets are included in the calculation of profit for the period.

The directors assess the company's tangible assets for evidence of impairment at each reporting date. Where there are indicators of impairment, the directors calculate recoverable amount of the asset(s) and compare this with the carrying amount. If recoverable amount is lower than carrying amount, the asset is written down to recoverable amount by way of an impairment loss which is recognised in profit or loss for the period. Impairment losses are reversed when there is evidence that the reasons giving rise to the original impairment have ceased to apply. Impairment losses are reversed through profit and loss but only to the extent that the reversal does not increase the carrying amount of the asset to the amount which would have been stated, net of depreciation, had no impairment loss been recognised.

Assets under construction
Assets under construction are initially measured at cost and are recognised in respect of assets that qualify for recognition under FRS 102, Section 17 'Property, Plant and Equipment' or Section 18 'Intangible Assets other than Goodwill'. No depreciation or amortisation is charged on assets under construction as the asset has not been brought into use.

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.

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, freight, irrecoverable taxes and costs of conversion and other directly attributable costs which are incurred by the entity in bringing the stock to its present location and condition. The cost methodology employed by the entity is the first-in first-out method.

DIDSBURY ENGINEERING CO LIMITED (REGISTERED NUMBER: 00371191)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply (where applicable) the provisions of FRS 102, Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' to all of its financial instruments.

Financial instruments are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets are offset, with net amounts presented in the financial statements, when there is a legally enforceable right to set-off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade debtors, other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently measured at amortised cost using the effective interest rate. The exception to this would be where the arrangement constitutes a financing transaction - in which case, the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. All impairment losses are recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed the carrying amount that would have been recognised had the impairment not previously been recognised. Impairment reversals are recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when:

- the contractual rights to the cash flows from the asset expire or are settled; or
- when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity; or
- if some significant risks and rewards of ownership are retained but control of the asset has transferred to a third party which is able to sell the asset in its entirety to an unrelated party.

Classification of financial liabilities
Financial liabilities (and equity instruments) are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including trade creditors, other creditors and accruals, are initially recognised at transaction price unless the arrangement constitutes a financing arrangement, where the debt instrument is then measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled or they expire.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

DIDSBURY ENGINEERING CO LIMITED (REGISTERED NUMBER: 00371191)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. 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 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. Deferred tax is calculated using timing difference plus approach.

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.

Leasing commitments
Operating lease rentals are charged to profit and 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.

Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year with an associated expense in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 36 ) .

4. INTANGIBLE FIXED ASSETS
Software
costs
£   
COST
At 1 January 2024
and 31 December 2024 68,490
AMORTISATION
At 1 January 2024 58,567
Amortisation for year 9,923
At 31 December 2024 68,490
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 9,923

DIDSBURY ENGINEERING CO LIMITED (REGISTERED NUMBER: 00371191)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Asset
Short under Plant and Computer
leasehold construction machinery equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 257,438 - 406,837 163,424 827,699
Additions 21,933 94,649 24,279 - 140,861
Disposals - - (2,650 ) - (2,650 )
At 31 December 2024 279,371 94,649 428,466 163,424 965,910
DEPRECIATION
At 1 January 2024 73,844 - 349,838 144,906 568,588
Charge for year 48,788 - 14,049 13,408 76,245
Eliminated on disposal - - (2,576 ) - (2,576 )
At 31 December 2024 122,632 - 361,311 158,314 642,257
NET BOOK VALUE
At 31 December 2024 156,739 94,649 67,155 5,110 323,653
At 31 December 2023 183,594 - 56,999 18,518 259,111

6. STOCKS
31.12.24 31.12.23
£    £   
Stocks 699,997 889,820
Work-in-progress 30,775 46,569
730,772 936,389

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 3,674,771 901,231
Other debtors 131,697 6,563
Tax 41,344 38,776
Deferred tax 27,980 -
Prepayments 151,084 84,202
4,026,876 1,030,772

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 193,803 65,853
Tax - 175,750
Social security and other taxes 42,055 54,169
VAT 194,743 10,832
Other creditors 170,015 107,205
Accrued expenses 266,522 209,037
867,138 622,846

DIDSBURY ENGINEERING CO LIMITED (REGISTERED NUMBER: 00371191)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 152,431 140,559
Between one and five years 399,470 512,262
551,901 652,821

10. RESERVES
Retained
earnings
£   

At 1 January 2024 4,885,561
Profit for the year 2,648,628
Dividends (2,000,000 )
At 31 December 2024 5,534,189

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven John Collings FCCA (Senior Statutory Auditor)
for and on behalf of Leavitt Walmsley Associates Limited

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

14. ULTIMATE CONTROLLING PARTY AND ULTIMATE PARENT COMPANY

The ultimate controlling party is Lifco AB.

These financial statements are consolidated with those of LIFCO AB.

The address of the ultimate controlling party is:
Verkmastaregatan 1
ENKOPING 745 85
Sweden
SWE