DURHAMLANE LIMITED - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 07546135 (England and Wales)

DURHAMLANE LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L C Durham

R M Lane

M P Moran

J Spence

REGISTERED OFFICE:

Deltic House

Kingfisher Way

Wallsend

Tyne and Wear

NE28 9NX

REGISTERED NUMBER:

07546135 (England and Wales)

ACCOUNTANTS:

Maclean & Company

1 Park View Court

St Paul's Road

Shipley

West Yorkshire

BD18 3DZ

FIXED ASSETS

Intangible assets

4

107,577

172,534

Tangible assets

5

216,735

211,827

324,312

384,361

CURRENT ASSETS

Debtors

6

945,436

751,799

Cash at bank and in hand

1,162,733

1,192,531

2,108,169

1,944,330

CREDITORS

Amounts falling due within one year

7

933,729

649,584

NET CURRENT ASSETS

1,174,440

1,294,746

TOTAL ASSETS LESS CURRENT LIABILITIES

1,498,752

1,679,107

CREDITORS

Amounts falling due after more than one year

8

411,667

564,085

NET ASSETS

1,087,085

1,115,022

CAPITAL AND RESERVES

Called up share capital

10

300

300

Retained earnings

1,086,785

1,114,722

SHAREHOLDERS' FUNDS

1,087,085

1,115,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2023 and were signed on its behalf by:

L C Durham - Director

R M Lane - Director

1.	STATUTORY INFORMATION

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

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Taxation

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

The company capitalises expenditure on specific methodology tools and practices which it will actively market in future years.Such expenditure is amortised over the succeeding five years in equal instalments.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or 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.

Deferred government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets.

Grants of a revenue nature are credited to income in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 117 (2022 - 99 ) .

4.	INTANGIBLE FIXED ASSETS

Research

& development

£

COST

At 1 April 2022

and 31 March 2023

596,437

AMORTISATION

At 1 April 2022

423,903

Amortisation for year

64,957

At 31 March 2023

488,860

NET BOOK VALUE

At 31 March 2023

107,577

At 31 March 2022

172,534

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2022

392,441

146,321

538,762

Additions

1,361

46,604

47,965

At 31 March 2023

393,802

192,925

586,727

DEPRECIATION

At 1 April 2022

190,505

136,430

326,935

Charge for year

30,387

12,670

43,057

At 31 March 2023

220,892

149,100

369,992

NET BOOK VALUE

At 31 March 2023

172,910

43,825

216,735

At 31 March 2022

201,936

9,891

211,827

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2022

and 31 March 2023

173,403

76,315

249,718

DEPRECIATION

At 1 April 2022

80,161

76,315

156,476

Charge for year

13,986

-

13,986

At 31 March 2023

94,147

76,315

170,462

NET BOOK VALUE

At 31 March 2023

79,256

-

79,256

At 31 March 2022

93,242

-

93,242

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

858,139

580,257

Other debtors

87,297

171,542

945,436

751,799

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Hire purchase contracts

13,731

41,699

Trade creditors

164,955

140,392

Taxation

387,434

349,749

Other creditors

367,609

117,744

933,729

649,584

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

411,667

541,667

Hire purchase contracts

-

22,418

411,667

564,085

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

411,667

541,667

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.23

31.3.22

£

£

Bank loans

411,667

541,667

Bank borrowings are secured by a fixed and floating charge over all the assets of the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

20,000

Ordinary "A" shares

£0.01

200

200

10,000

Ordinary "B" shares

£0.01

100

100

300

300