Registration number: 01995370

J E Engineering Ltd

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Financial Statements	3 to 10

J E Engineering Ltd

Company Information

Directors

Mr Darren McDermott Mr Iain Muir Mr Jason McDermott Mr William McDermott Mr Jonathan Douglas

Registered office

Charles Spencer King House Sisken Drive Middlemarch Business Park COVENTRY CV3 4FJ

Auditors

Morris & Young, Statutory Auditor Chartered Accountants 6 Atholl Crescent Perth PH1 5JN

J E Engineering Ltd

(Registration number: 01995370)
Statement of Financial Position as at 31 July 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	471	628
Tangible assets	5	37,548	50,133
		38,019	50,761
Current assets
Stocks	6	2,695,679	2,976,439
Debtors	7	41,381	102,505
Cash at bank and in hand		1,401	10,647
		2,738,461	3,089,591
Creditors: Amounts falling due within one year	8	(2,134,766)	(2,042,636)
Net current assets		603,695	1,046,955
Total assets less current liabilities		641,714	1,097,716
Creditors: Amounts falling due after more than one year	8	-	(37,522)
Net assets		641,714	1,060,194
Capital and reserves
Called up share capital	9	702,625	702,625
Share premium reserve		272,750	272,750
Other reserves		1,000	1,000
Retained earnings		(334,661)	83,819
Shareholders' funds		641,714	1,060,194

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 September 2025 and signed on its behalf by:
 

......................................... Mr Darren McDermott Director

......................................... Mr Iain Muir Director

J E Engineering Ltd

Notes to the Financial Statements for the Year Ended 31 July 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Charles Spencer King House
Sisken Drive
Middlemarch Business Park
COVENTRY
CV3 4FJ

These financial statements were authorised for issue by the Board on 11 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

J E Engineering Ltd

Notes to the Financial Statements for the Year Ended 31 July 2024

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 11 September 2025 was Alexander J Fyfe M.A.A.T., C.A., DChA, who signed for and on behalf of Morris & Young, Statutory Auditor.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and Machinery	25% Reducing Balance
Office Equipment	33% Reducing Balance
Motor Vehicles	0% to 25% Reducing Balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

J E Engineering Ltd

Notes to the Financial Statements for the Year Ended 31 July 2024

Asset class	Amortisation method and rate
Development costs	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and on deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

J E Engineering Ltd

Notes to the Financial Statements for the Year Ended 31 July 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company only have financial assets and liabilities of a kind that would qualify as basic financial instruments which are recognised at their transaction value and subsequently measured at their settlement value.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 10).

4	Intangible assets

	Goodwill  £	Internally generated software development costs  £	Total £
Cost or valuation
At 1 August 2023	40,000	74,630	114,630
At 31 July 2024	40,000	74,630	114,630
Amortisation
At 1 August 2023	40,000	74,002	114,002
Amortisation charge	-	157	157
At 31 July 2024	40,000	74,159	114,159
Carrying amount
At 31 July 2024	-	471	471
At 31 July 2023	-	628	628

J E Engineering Ltd

Notes to the Financial Statements for the Year Ended 31 July 2024

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 August 2023	528,182	80,297	608,479
At 31 July 2024	528,182	80,297	608,479
Depreciation
At 1 August 2023	478,475	79,871	558,346
Charge for the year	12,479	106	12,585
At 31 July 2024	490,954	79,977	570,931
Carrying amount
At 31 July 2024	37,228	320	37,548
At 31 July 2023	49,707	426	50,133

6

Stocks

	2024 £	2023 £
Work in progress	2,695,679	139,495
Other inventories	-	2,836,944
	2,695,679	2,976,439

7

Debtors

Current	Note	2024 £	2023 £
Trade debtors		12,829	5,771
Amounts owed by related parties	11	7,000	-
Prepayments		21,552	42,698
Other debtors		-	54,036
		41,381	102,505

8

Creditors

Creditors: amounts falling due within one year

J E Engineering Ltd

Notes to the Financial Statements for the Year Ended 31 July 2024

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	10	476,912	375,803
Trade creditors		117,051	113,764
Amounts owed to group undertakings and undertakings in which the company has a participating interest	11	1,415,028	1,427,445
Taxation and social security		115,379	111,042
Accruals and deferred income		9,180	12,555
Other creditors		1,216	2,027
		2,134,766	2,042,636

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	10	-	37,522

J E Engineering Ltd

Notes to the Financial Statements for the Year Ended 31 July 2024

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	702,625	702,625	702,625	702,625

10	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Other borrowings	-	37,522

Current loans and borrowings

	2024 £	2023 £
Other borrowings	476,912	375,803

11	Related party transactions

Summary of transactions with other related parties

During the year loan accounts operated between Companies with common directors and shareholders. At the year end the balances were as follows:

Due to J E Engineering Ltd:
E Type Fabs Ltd - £7,000 (2023: £nil)

Due by J E Engineering Ltd:
DRVN Advanced Engineering Ltd : £9,132 (2023: £nil)
Induction Technology Group Ltd - £357,990 (2023: £348,100)
The Recruitment Bunker Ltd: £13,000 (2023: £nil)
Easy Heat Systems Ltd: £1,034,872 (2023: £1,079,344)
The Production Bunker Ltd: £34 (2023: £nil)

 

J E Engineering Ltd

Notes to the Financial Statements for the Year Ended 31 July 2024

12	Parent and ultimate parent undertaking

The company's immediate parent is DRVN Automotive Ltd, incorporated in Scotland.

  These financial statements are available upon request from Companies House, Crown Way, CARDIFF. CF14 3UZ.