REGISTERED NUMBER: 00972614 (England and Wales)

DOUGHTY ENGINEERING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M B T Lister

J Chiverton

S C Wright

D Phillips

D Chorley

SECRETARY:

M B T Lister

REGISTERED OFFICE:

Crow Arch Lane

Ringwood

Hampshire

BH24 1NZ

REGISTERED NUMBER:

00972614 (England and Wales)

FIXED ASSETS

Intangible assets

4

2,856

-

Tangible assets

5

1,944,982

1,455,495

Investment property

6

637,658

637,658

2,585,496

2,093,153

CURRENT ASSETS

Stocks

1,860,864

1,815,749

Debtors

7

773,271

733,227

Investments

8

-

157,576

Cash at bank and in hand

434,919

300,246

3,069,054

3,006,798

CREDITORS

Amounts falling due within one year

9

(1,413,899

)

(1,045,071

)

NET CURRENT ASSETS

1,655,155

1,961,727

TOTAL ASSETS LESS CURRENT LIABILITIES

4,240,651

4,054,880

CREDITORS

Amounts falling due after more than one year

10

(336,618

)

(375,529

)

PROVISIONS FOR LIABILITIES

13

(242,159

)

(108,478

)

NET ASSETS

3,661,874

3,570,873

CAPITAL AND RESERVES

Called up share capital

80

80

Capital redemption reserve

20

20

Non-distributable reserves

64,693

66,633

Retained earnings

3,597,081

3,504,140

3,661,874

3,570,873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2026 and were signed on its behalf by:

J Chiverton - Director

1.	STATUTORY INFORMATION

Doughty 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 FRS102 "The Financial Reporting Standards 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 FRS102 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 £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover

The turnover shown in the profit and loss account represents the value of all goods sold during the year, less returns received, at selling price exclusive of Value Added Tax, for the supply of theatrical lighting equipment. Turnover is recognised at the point that the goods are delivered to the customer.

Rental income

Rental income on assets leased under operating leases is recognised on a straight-line basis over the lease term and is presented within other operating income.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

Straight line over 50 years

Plant and machinery

-

5 - 10 years Straight Line

Fixtures and fittings

-

3-7 years straight line

Motor vehicles

-

Straight line over 5 years

Fixed asset investments

Interests in associates are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Transaction costs are expensed to profit or loss as incurred. Changes in fair value are recognised in other comprehensive income except to the extent that a gain reverses a loss previously recognised in profit or loss, or a loss exceeds the accumulated gains recognised in equity; such gains and loss are recognised in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Work in progress is valued on the basis of direct material and labour costs based on a normal level of activity. Foreseeable losses are provided for in full at the point at which the loss is anticipated.

At each reporting date, an assessment is made for impairment. Any stock held for over 12 months will be considered and if deemed to be slow moving it will recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Employee benefits

The costs of 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 non-current assets.

The cost of any material 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.

Financial assets

The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

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

Basic financial assets, which include trade and other receivables and cash and bank balances 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2025 - 53 ) .

4.	INTANGIBLE FIXED ASSETS

Patents and

licences

£

COST

Additions

2,929

At 31 January 2026

2,929

AMORTISATION

Amortisation for year

73

At 31 January 2026

73

NET BOOK VALUE

At 31 January 2026

2,856

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 February 2025

1,677,033

2,532,442

625,419

112,009

4,946,903

Additions

-

543,624

4,933

71,746

620,303

Disposals

-

(105,312

)

(2,550

)

(50,900

)

(158,762

)

At 31 January 2026

1,677,033

2,970,754

627,802

132,855

5,408,444

DEPRECIATION

At 1 February 2025

598,705

2,215,246

593,960

83,497

3,491,408

Charge for year

28,851

70,651

14,260

17,054

130,816

Eliminated on disposal

-

(105,312

)

(2,550

)

(50,900

)

(158,762

)

At 31 January 2026

627,556

2,180,585

605,670

49,651

3,463,462

NET BOOK VALUE

At 31 January 2026

1,049,477

790,169

22,132

83,204

1,944,982

At 31 January 2025

1,078,328

317,196

31,459

28,512

1,455,495

The freehold land and buildings were valued on an open market basis by a firm of independent Chartered Surveyors in 2004. On transition to FRS102 this valuation was adopted as deemed cost.

If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:

2026

2025

£

£

Cost

1,443,799

1,443,799

Accumulated depreciation

(545,095

)

(520,465

)

Carrying value

898,704

923,334

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2025

and 31 January 2026

637,658

NET BOOK VALUE

At 31 January 2026

637,658

At 31 January 2025

637,658

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

608,962

579,612

Other debtors

164,309

153,615

773,271

733,227

8.	CURRENT ASSET INVESTMENTS

2026

2025

£

£

Bank reserve account

-

157,576

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

38,494

35,029

Trade creditors

533,150

128,765

Taxation and social security

465,445

644,210

Other creditors

376,810

237,067

1,413,899

1,045,071

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

336,618

375,529

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

153,821

205,193

153,821

205,193

The effective interest rate applied on the loan is 6.7% (2025: 7.27%).

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

£

Within one year

2,301

16,950

Between one and five years

253

5,191

2,554

22,141

12.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

375,112

410,558

The bank loan relates to a mortgage taken out in the year for an investment property held by the company. The loan is secured against the same property.

13.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

242,159

108,478

Deferred tax

£

Balance at 1 February 2025

108,478

Accelerated capital allowances

133,681

Balance at 31 January 2026

242,159

14.	CAPITAL COMMITMENTS

2026

2025

£

£

Contracted but not provided for in the

financial statements

-

92,651