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REGISTERED NUMBER: 02499988 (England and Wales)


























FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

DALMEC LIMITED

DALMEC LIMITED (REGISTERED NUMBER: 02499988)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DALMEC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: Signor L Dallago
Mr C Dallago





SECRETARY: Mr C Dallago





REGISTERED OFFICE: 2 Ringway Centre
Edison Road
Basingstoke
Hampshire
RG21 6YH





REGISTERED NUMBER: 02499988 (England and Wales)





AUDITORS: Langdowns DFK Limited
Statutory Auditor
Fleming Court
Leigh Road
Eastleigh
Southampton
Hampshire
SO50 9PD

DALMEC LIMITED (REGISTERED NUMBER: 02499988)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 107,483 135,937

CURRENT ASSETS
Stocks 284,327 256,548
Debtors 6 1,703,448 937,632
Cash at bank and in hand 1,283,223 1,713,562
3,270,998 2,907,742
CREDITORS
Amounts falling due within one year 7 1,671,246 1,081,873
NET CURRENT ASSETS 1,599,752 1,825,869
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,707,235

1,961,806

PROVISIONS FOR LIABILITIES 2,996 4,190
NET ASSETS 1,704,239 1,957,616

CAPITAL AND RESERVES
Called up share capital 8 100,000 100,000
Retained earnings 1,604,239 1,857,616
SHAREHOLDERS' FUNDS 1,704,239 1,957,616

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 March 2023 and were signed on its behalf by:





Signor L Dallago - Director


DALMEC LIMITED (REGISTERED NUMBER: 02499988)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Dalmec 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities and at the balance sheet date and the amounts reported for turnover and expenses during the year. However, the nature of estimation means that the outcomes could differ from those estimates such as accruals of expenses at the year end.

The company estimates the net realisable value of stock at the end of the reporting period taking into account the age profile of stock and expected demand from customers. The company has made a provision against this balance as required.

Turnover
Turnover includes revenue earned from the provision of goods and services to customers during the year, excluding value added tax, and is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.

Revenue in respect of the sales of machines and consumables is recognised on delivery of the goods to the customer. Revenue in respect of the provision of services, such as repairs and maintenance, is recognised when the work is carried out.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over the remaining term of the lease
Plant and machinery - 25% straight line
Fixtures and fittings - 25% straight line
Motor vehicles - 25% straight line and 20% straight line
Computer equipment - at varying rates on cost

All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


DALMEC LIMITED (REGISTERED NUMBER: 02499988)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company contributes to defined contribution pension schemes. Contributions payable to the pension scheme are charged to the income statement in the period to which they relate.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest rate method.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2021 - 15 ) .

DALMEC LIMITED (REGISTERED NUMBER: 02499988)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2022 54,884 72,872 39,858
Additions - - -
At 31 December 2022 54,884 72,872 39,858
DEPRECIATION
At 1 January 2022 46,425 72,872 39,858
Charge for year 4,988 - -
At 31 December 2022 51,413 72,872 39,858
NET BOOK VALUE
At 31 December 2022 3,471 - -
At 31 December 2021 8,459 - -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2022 261,632 404,039 833,285
Additions 26,559 1,884 28,443
At 31 December 2022 288,191 405,923 861,728
DEPRECIATION
At 1 January 2022 151,478 386,715 697,348
Charge for year 42,914 8,995 56,897
At 31 December 2022 194,392 395,710 754,245
NET BOOK VALUE
At 31 December 2022 93,799 10,213 107,483
At 31 December 2021 110,154 17,324 135,937

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 1,599,807 823,761
Other debtors 103,641 113,871
1,703,448 937,632

Included in other debtors is £58,143 (2021: £83,363) in relation to prepayments and accrued income.

DALMEC LIMITED (REGISTERED NUMBER: 02499988)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 71,327 36,058
Amounts owed to group undertakings 286,801 149,043
Taxation and social security 321,090 254,829
Other creditors 992,028 641,943
1,671,246 1,081,873

Included in other creditors is £23,897 (2021: £18,000) in relation to accruals and deferred income.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100,000 Ordinary £1 100,000 100,000

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ross Garfitt (Senior Statutory Auditor)
for and on behalf of Langdowns DFK Limited

10. OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £35,655 (2021: £51,600). This amount is in relation to operating lease commitments which are payable over the 3 years (2021: 1 year).

11. RELATED PARTY DISCLOSURES

Dalmec S.p.A
The ultimate parent company.

During the year, Dalmec S.p.A invoiced the company £1,278,080 (2021: £1,211,896) in respect of machines and consumables purchased.

The largest and smallest group which includes the company and for which group financial statements are prepared is Dalmec S.p.A. Group accounts will be available at the registered office address for Dalmec S.p.A, 38023 CLES (Trento) - Italy Via Gramsci, 2.