Destec Engineering Limited in Lincoln, LN4 1AF

Description

Data updated on: 01-11-2023

This particular Destec Engineering Limited business has been operating in this business for at least fifty five years, having started in 1969. Registered with number 00946573, Destec Engineering was set up as a Private Limited Company with office in Destec Five Mile Lane, Lincoln LN4 1AF. The firm's registered with SIC code 25990 - Manufacture of other fabricated metal products n.e.c.. The firm's latest annual accounts were submitted for the period up to 2022-02-28 and the most current confirmation statement was submitted on 2022-12-08.

With two job advertisements since 2018-02-15, the firm has been quite active on the job market. On 2018-02-16, it was searching for job candidates for a Senior Production Scheduler position in Washingborough, and on 2018-02-15, for the vacant position of a IT Manager in Washingborough.

Karyn A., John M. and Barry P. are registered as the company's directors and have been monitoring progress towards achieving the objectives and policies for ten years.

Financial data based on annual reports

Profit & Loss
Date of Accounts	2019-02-28	2020-02-29	2021-02-28	2022-02-28	2023-02-28
Currency

Balance Sheet
Cash Bank On Hand	6 249 939	3 253 387	3 872 273	776 967	1 904 457
Current Assets	11 300 439	11 509 090	9 543 927	9 603 763	14 078 351
Debtors	2 443 460	5 433 147	2 746 606	5 963 248	9 304 283
Net Assets Liabilities	12 788 815	13 185 471	12 490 801	12 198 609	15 732 735
Other Debtors	10 000	2 304 172	211 083
Property Plant Equipment	3 184 258	3 006 245	3 773 868	3 969 369	4 120 172
Total Inventories	2 607 040	2 822 556	2 925 048	2 863 548	2 869 611

Other Financial Data
Audit Fees Expenses	9 000	9 000	12 500
Auditing Accounts Associates Service To Entity Subsidiaries Fees			12 500	18 205	22 000
Accrued Liabilities Deferred Income			78 721	53 875	83 653
Accumulated Depreciation Impairment Property Plant Equipment	5 139 263	5 444 741	5 835 959	6 254 615	6 719 716
Additions Other Than Through Business Combinations Property Plant Equipment		171 959	1 158 841	640 897
Administration Support Average Number Employees	16	17	16	6	8
Administrative Expenses	2 118 186	2 038 697	1 500 181	2 258 991	2 342 719
Amounts Owed By Related Parties		2 083 238	748 238
Amounts Owed To Directors			229 268	312 518	328 669
Applicable Tax Rate	19	19	19
Average Number Employees During Period	83	85	83	82	88
Balances With Banks	6 249 939	3 253 387	3 872 247
Capital Commitments		432 086
Cash Cash Equivalents		3 253 387	3 872 273
Cash Cash Equivalents Cash Flow Value	6 249 939	3 253 387
Cash On Hand			26
Cash Receipts From Repayment Loans Advances Classified As Investing Activities		-2 073 238	-365 000
Comprehensive Income Expense	688 704	546 656	-544 670	-142 192	3 534 126
Corporation Tax Payable					521 705
Cost Sales	5 017 244	5 296 247	5 469 474	4 976 375	8 138 695
Creditors	1 536 792	1 197 506	783 757	1 056 237	1 915 808
Current Tax For Period	163 070	25 458	-164 323		521 705
Decrease Increase In Estimate Recoverable Deferred Tax Asset	-1 291	-26 632	134 817
Deferred Tax Expense Credit From Unrecognised Timing Difference From Prior Period			133 034
Deferred Tax Expense Credit Relating To Origination Reversal Timing Differences			134 817	51 111	231 694
Depreciation Amortisation Expense	385 463	343 397	391 218
Depreciation Expense Property Plant Equipment	385 463	343 397	391 218	440 820	507 849
Disposals Decrease In Depreciation Impairment Property Plant Equipment		-37 919		22 164	42 748
Disposals Property Plant Equipment		-44 494		26 740	52 460
Distribution Average Number Employees				16	16
Distribution Costs	495 002	411 447	369 419
Dividend Per Share Interim	6	6	6
Dividends Paid	-150 000	-150 000	-150 000	150 000
Dividends Paid Classified As Financing Activities	-150 000	-150 000	150 000
Finished Goods			1 219 974
Finished Goods Goods For Resale	970 384	938 226	1 219 974
Fixed Assets	3 184 258	3 006 345	3 773 968	3 969 469	4 120 272
Gain Loss In Cash Flows From Change In Creditors Trade Other Payables	-105 812	290 896	523 007
Gain Loss In Cash Flows From Change In Debtors Trade Other Receivables	-775 396	2 989 687	-1 351 541
Gain Loss In Cash Flows From Change In Inventories	19 044	215 516	102 492	61 500	-6 063
Gain Loss On Disposals Property Plant Equipment	1 580	3 467		6 424	1 788
Gain Loss On Non-financing Activities Due To Foreign Exchange Differences Recognised In Profit Or Loss			67 804	-42 909	97 796
Gross Profit Loss	3 454 076	2 983 125	1 249 438	2 199 443	6 635 778
Income Expense Recognised Directly In Equity			-150 000	-150 000
Income Taxes Paid Refund Classified As Operating Activities	130 322	73 848	-49 643	50 356	-21 565
Increase Decrease In Cash Cash Equivalents Before Foreign Exchange Differences Changes In Consolidation	1 542 235	-2 996 552	618 886
Increase Decrease In Current Tax From Adjustment For Prior Periods	16			72 618	5 816
Increase Decrease In Existing Provisions			134 817	51 111	231 694
Increase Decrease In Net Debt From Cash Flows		-2 996 552
Increase Decrease In Provisions Through Transfers Reclassifications		-26 632
Increase From Depreciation Charge For Year Property Plant Equipment		343 397	391 218	440 820	507 849
Interest Income On Bank Deposits	9 595	12 501	45 986	41 085	282
Interest Received Classified As Investing Activities	9 595	12 501	45 986
Interest Received Classified As Operating Activities	9 595	12 501	45 986	41 085	282
Investments			100	100	100
Investments Fixed Assets		100	100	100	100
Investments In Associates		100	100
Loans Advances Granted Classified As Investing Activities			1 700 000
Net Cash Flows From Used In Investing Activities	-264 378	-149 516	222 145
Net Cash Flows From Used In Operating Activities	1 956 613	-2 697 036	546 741
Net Cash Generated From Operations	2 086 935	-2 623 188	497 098
Net Cash Inflow Outflow From Operations Before Movements In Working Capital	1 224 771	872 911	-228 944
Net Current Assets Liabilities	9 763 647	10 311 584	8 984 108	8 547 526	12 162 543
Net Debt Funds	6 249 939	3 253 387
Number Shares Issued Fully Paid	25 000	25 000	25 000
Operating Profit Loss			-620 162	-59 548	4 293 059
Other Creditors	513 198	308 308	5 330
Other Interest Receivable Similar Income Finance Income	9 595	12 501	45 986	41 085	282
Other Investments Other Than Loans			100	100	100
Other Payables Accrued Expenses	158 618	119 223	78 721
Other Taxation Social Security Payable			101 600	131 086	252 029
Par Value Share		1	1
Payments To Acquire Interests In Joint Ventures Associates Participating Interests Classified As Investing Activities		-100
Pension Costs Defined Contribution Plan	106 792	93 499	98 245
Pension Other Post-employment Benefit Costs Other Pension Costs			98 245	98 876	101 061
Prepayments	16 778	61 678	3 620
Prepayments Accrued Income			3 620	4 078	39 852
Proceeds From Sales Property Plant Equipment	3 800	10 042		11 000	11 500
Production Average Number Employees	61	62	61	60	64
Profit Loss	688 704	546 656	-544 670	-142 192	3 534 126
Profit Loss On Ordinary Activities Before Tax	850 483	545 482	-574 176	-18 463	4 293 341
Property Plant Equipment Gross Cost	8 323 521	8 450 986	9 609 827	10 223 984	7 564 424
Provisions	159 090	132 458	267 275	318 386	550 080
Provisions For Liabilities Balance Sheet Subtotal	159 090	132 458	267 275	318 386	550 080
Purchase Property Plant Equipment	-277 773	-171 959	-1 158 841	640 897	954 653
Raw Materials			1 556 776
Raw Materials Consumables	1 541 170	1 562 574	1 556 776
Revenue From Sale Goods	8 471 320	8 279 372	6 718 912
Selling Average Number Employees	6	6	6
Social Security Costs	363 064	329 173	308 557	332 882	433 057
Staff Costs Employee Benefits Expense	3 863 068	3 804 152	3 384 863	3 638 551	4 445 359
Taxation Social Security Payable	163 830	143 836	101 600
Tax Expense Credit Applicable Tax Rate	161 592	103 642	-109 093	-3 508	815 735
Tax Increase Decrease From Effect Adjustment In Research Development Tax Credit		-89 222	-60 212
Tax Increase Decrease From Effect Capital Allowances Depreciation		-19 106	6 722
Tax Increase Decrease From Effect Expenses Not Deductible In Determining Taxable Profit Or Loss	171	3 512	43
Tax Increase Decrease From Effect Unrelieved Tax Losses Carried Forward					204 241
Tax Tax Credit On Profit Or Loss On Ordinary Activities	161 779	-1 174	-29 506	123 729	759 215
Total Additions Including From Business Combinations Property Plant Equipment					660 943
Total Assets Less Current Liabilities	12 947 905	13 317 929	12 758 076	12 516 995	16 282 815
Trade Creditors Trade Payables	538 076	511 459	374 168	558 758	729 752
Trade Debtors Trade Receivables	1 255 916	1 971 012	623 366	1 319 648	2 456 878
Turnover Revenue	8 471 320	8 279 372	6 718 912	7 175 818	14 774 473
Wages Salaries	3 393 212	3 381 480	2 978 061	3 206 793	3 911 241
Work In Progress	95 486	321 756	148 298
Company Contributions To Money Purchase Plans Directors	5 048	5 271	6 837	6 980	7 236
Director Remuneration	274 012	288 757	335 036	343 802	513 986
Director Remuneration Benefits Excluding Payments To Third Parties			341 873	350 782	521 222

Company staff

Karyn A.

Role: Secretary

Appointed: 20 September 2017

Latest update: 27 March 2024

Karyn A.

Role: Director

Appointed: 01 November 2014

Latest update: 27 March 2024

John M.

Role: Director

Appointed: 31 December 1990

Latest update: 27 March 2024

Barry P.

Role: Director

Appointed: 31 December 1990

Latest update: 27 March 2024

People with significant control

Executives with significant control over the firm are: John M. owns 1/2 or less of company shares. Barry P. owns over 1/2 to 3/4 of company shares .

John M.

Notified on 6 April 2016

Nature of control:

1/2 or less of shares

Barry P.

Notified on 6 April 2016

Nature of control:

over 1/2 to 3/4 of shares

Accounts Documents

Account next due date	30 November 2023
Account last made up date	28 February 2022
Confirmation statement next due date	22 December 2023
Confirmation statement last made up date	08 December 2022

Annual Accounts
Start Date For Period Covered By Report	2019-03-01
End Date For Period Covered By Report	2020-02-29
Annual Accounts
Start Date For Period Covered By Report	2020-03-01
End Date For Period Covered By Report	2021-02-28
Annual Accounts
Start Date For Period Covered By Report	2021-03-01
End Date For Period Covered By Report	28/02/2022
Annual Accounts
Start Date For Period Covered By Report	2022-03-01
End Date For Period Covered By Report	28/02/2023

Senior Production Scheduler in Washingborough, posted on Friday 16th February 2018
Region / City	Washingborough
Salary	From £25000.00 to £32000.00 per year
Job type	permanent
Expiration date	Friday 30th March 2018


IT Manager in Washingborough, posted on Thursday 15th February 2018
Region / City	Washingborough
Salary	From £25000.00 to £35000.00 per year
Job type	permanent
Expiration date	Thursday 29th March 2018

Destec Engineering Limited

General information

Name:

Office Address:

Description

Financial data based on annual reports

Company staff

Karyn A.

Karyn A.

John M.

Barry P.

Janet P.

People with significant control

John M.

Barry P.

Accounts Documents

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