Registered number: 08413265 | ||||||||
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FOR THE YEAR ENDED 31/03/2021 | ||||||||
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Prepared By: | ||||||||
Morgan Dodd Limited | ||||||||
Chartered Certified Accountants & Registered Auditors | ||||||||
Oxford House | ||||||||
Sixth Avenue, Robin Hood Airport | ||||||||
Doncaster | ||||||||
South Yorkshire | ||||||||
DN9 3GG |
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53 Degrees North Engineering Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2021 | ||||||||
DIRECTORS | ||||||||
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REGISTERED OFFICE | ||||||||
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Sheffield | ||||||||
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COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 08413265 | ||||||||
BANKERS | ||||||||
National Westminster Bank plc | ||||||||
SOLICITORS | ||||||||
Keebles | ||||||||
ACCOUNTANTS | ||||||||
Morgan Dodd Limited | ||||||||
Chartered Certified Accountants & Registered Auditors | ||||||||
Oxford House | ||||||||
Sixth Avenue, Robin Hood Airport | ||||||||
Doncaster | ||||||||
South Yorkshire | ||||||||
DN9 3GG |
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53 Degrees North Engineering Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2021 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
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53 Degrees North Engineering Limited | ||||||||
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BALANCE SHEET AT
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2021 | 2020 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 |
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CURRENT ASSETS | ||||||||||
Stock |
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Debtors | 5 |
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Cash at bank and in hand |
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554,148 | 469,559 | |||||||||
CREDITORS: Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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289,497 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS: Amounts falling due after more than one year | 7 | 296,097 | 332,655 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES | ||||||||||
Called up share capital | 9 |
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Profit and loss account | 567,054 | 499,351 | ||||||||
SHAREHOLDERS' FUNDS |
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Approved by the board on
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............................. | ||||||||||
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Director | ||||||||||
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53 Degrees North Engineering Limited | ||||||||
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NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2021 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
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Land And Buildings | reducing balance 1% | |||||||
Fixtures and Fittings | reducing balance 20% | |||||||
Equipment | reducing balance 20% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
2. EMPLOYEES | ||||||
2021 | 2020 | |||||
No. | No. | |||||
Average number of employees |
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28 | ||||
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53 Degrees North Engineering Limited | ||||||||
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3. TANGIBLE FIXED ASSETS | |||||||||||
Land And | Fixtures | ||||||||||
Buildings | and Fittings | Equipment | Total | ||||||||
£ | £ | £ | £ | ||||||||
Cost | |||||||||||
At 01/04/2020 | 416,530 | 30,496 | 224,777 | 671,803 | |||||||
Additions | - | 1,961 | 13,126 | 15,087 | |||||||
At 31/03/2021 | 416,530 | 32,457 | 237,903 | 686,890 | |||||||
Depreciation | |||||||||||
At 01/04/2020 | - | 7,284 | 93,115 | 100,399 | |||||||
For the year | 1,665 | 5,037 | 28,166 | 34,868 | |||||||
At 31/03/2021 | 1,665 | 12,321 | 121,281 | 135,267 | |||||||
Net Book Amounts | |||||||||||
At 31/03/2021 |
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551,623 | |||||||
At 31/03/2020 |
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571,404 | |||||||
National Westminster Bank plc have a fixed charge over the company's freehold property. At the Balance Sheet date the company's indebtedness to the bank was £282,694 (2020: £292,806). | |||||||||||
4. STOCK | 2021 | 2020 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Work in progress |
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5. DEBTORS | 2021 | 2020 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 287,269 | 275,064 | ||||||
Other debtors | 965 | 4,791 | ||||||
Prepayments | 4,193 | 4,147 | ||||||
Directors current account | 7,752 | 13,621 | ||||||
Directors current account | 126 | 49 | ||||||
Directors current account | 69 | 33 | ||||||
300,374 | 297,705 | |||||||
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53 Degrees North Engineering Limited | ||||||||
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6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2021 | 2020 | |||||||
£ | £ | |||||||
UK corporation tax | 25,664 | 18,675 | ||||||
VAT | 54,656 | 26,854 | ||||||
PAYE control | 17,081 | 27,603 | ||||||
Bank Loan | 10,517 | 10,084 | ||||||
Credit card | 9,478 | 8,562 | ||||||
Finance leases | 26,013 | 28,025 | ||||||
Trade creditors | 54,362 | 34,699 | ||||||
Other creditors | 12,314 | 13,750 | ||||||
Pension schemes | 4,083 | 4,130 | ||||||
Accruals | 2,263 | 7,680 | ||||||
216,431 | 180,062 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2021 | 2020 | |||||||
£ | £ | |||||||
Bank loans (secured) >1yr | 272,177 | 282,722 | ||||||
Finance Leases >1yr | 23,920 | 49,933 | ||||||
296,097 | 332,655 | |||||||
8. PROVISIONS FOR LIABILITIES | 2021 | 2020 | ||||||
£ | £ | |||||||
Deferred taxation | 25,984 | 28,690 | ||||||
25,984 | 28,690 | |||||||
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53 Degrees North Engineering Limited | ||||||||
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9. SHARE CAPITAL | 2021 | 2020 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
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200 | 200 | ||||||
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4 | 4 | ||||||
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1 | 1 | ||||||
205 | 205 | |||||||