Company Registration No. 07628740 (England and Wales)
Dowson Food Machinery Limited
Financial statements
for the year ended 30 June 2024
Pages for filing with the registrar
Dowson Food Machinery Limited
Statement of financial position
As at 30 June 2024
1
2024
2023
Notes
£'000
£'000
£'000
£'000
Fixed assets
Intangible assets
4
707
655
Tangible assets
5
41
42
748
697
Current assets
Stocks
6
1,027
945
Debtors
7
1,525
973
Cash at bank and in hand
136
162
2,688
2,080
Creditors: amounts falling due within one year
8
(2,708)
(1,977)
Net current (liabilities)/assets
(20)
103
Total assets less current liabilities
728
800
Provisions for liabilities
-
0
(38)
Net assets
728
762
Capital and reserves
Called up share capital
10
-
0
-
0
Profit and loss reserves
728
762
Total equity
728
762

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 25 June 2025 and are signed on its behalf by:
R A Summers
Director
Company Registration No. 07628740
Dowson Food Machinery Limited
Statement of changes in equity
For the year ended 30 June 2024
2
Share capital
Profit and loss reserves
Total
£'000
£'000
£'000
Balance at 1 July 2022
-
0
960
960
Year ended 30 June 2023:
Loss and total comprehensive income
-
(198)
(198)
Balance at 30 June 2023
-
0
762
762
Year ended 30 June 2024:
Loss and total comprehensive income
-
(34)
(34)
Balance at 30 June 2024
-
0
728
728
Dowson Food Machinery Limited
Notes to the financial statements
For the year ended 30 June 2024
3
1
Accounting policies
Company information

Dowson Food Machinery Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Spooner Industries Limited, Moorland Engineering Works, Lower Railway Road, Ilkley, West Yorkshire, LS29 8JB.

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 £000.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have prepared detailed medium-term forecasts which support this position and therefore the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account.

 

Long term contracts are assessed on a contract by contract basis and are reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Where the outcome of each long-term contract can be assessed with reasonable certainty before its conclusion, the attributable profit is recognised in the profit and loss account. Any losses anticipated in relation to long term contracts are recognised immediately.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Dowson Food Machinery Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
4

Amortisation 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:

Development costs
5 years
1.5
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
20%
Fixtures and fittings
20%
Computers
20%

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the 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.

Dowson Food Machinery Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
5
Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at 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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Dowson Food Machinery Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
6
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.16

Exceptional items

Exceptional items are those significant items which are separately disclosed by virtue of their size, incidence or nature to enable a full understanding of the company’s financial performance

Dowson Food Machinery Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
7
2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
44
42
4
Intangible fixed assets
Development costs
£'000
Cost
At 1 July 2023
780
Additions
87
At 30 June 2024
867
Amortisation and impairment
At 1 July 2023
125
Amortisation charged for the year
35
At 30 June 2024
160
Carrying amount
At 30 June 2024
707
At 30 June 2023
655
Dowson Food Machinery Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
8
5
Tangible fixed assets
Plant and machinery etc
£'000
Cost
At 1 July 2023
609
Additions
22
At 30 June 2024
631
Depreciation and impairment
At 1 July 2023
567
Depreciation charged in the year
24
At 30 June 2024
590
Carrying amount
At 30 June 2024
41
At 30 June 2023
42
6
Stocks
2024
2023
£'000
£'000
Raw materials and consumables
743
662
Work in progress
284
283
1,027
945
7
Debtors
2024
2023
Amounts falling due within one year:
£'000
£'000
Trade debtors
375
896
Prepayments, accrued income & other debtors
1,143
77
1,518
973
2024
2023
Amounts falling due after more than one year:
£'000
£'000
Deferred tax asset
7
-
0
Total debtors
1,525
973
Dowson Food Machinery Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
9
8
Creditors: amounts falling due within one year
2024
2023
£'000
£'000
Trade creditors
347
423
Amounts owed to group undertakings
2,108
960
Taxation and social security
33
33
Other creditors
220
561
2,708
1,977
9
Retirement benefit schemes
2024
2023
Defined contribution schemes
£'000
£'000
Charge to profit or loss in respect of defined contribution schemes
29
29

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Ordinary shares of £1 each
1
1
1
1
11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Jonathan Davis
Statutory Auditors:
Saffery LLP
Date of audit report:
26 June 2025
12
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£'000
£'000
10
17
Dowson Food Machinery Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
10
13
Related party transactions

The company has taken advantage of the exemption from the requirement to disclose transactions between two or more members of a group, as the company is a wholly owned subsidiary undertaking to a group to which it is party to the transactions.

14
Parent company

At the year end the company's ultimate parent undertaking was S&L Holdco Limited which is registered in England and Wales. No one shareholder is considered to be the ultimate controlling entity of the group.

 

The immediate parent company at the year end was Aegeus Industries Limited which is registered in England and Wales.

 

S&L Holdco Limited was the largest and smallest group of undertakings to consolidate the results of the company for the year ended 30 June 2024.

 

Financial statements for both S&L Holdco Limited and Aegeus Industries Limited are publicly available from Companies House.

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