Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01falseNo description of principal activity5263trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05341953 2022-04-01 2023-03-31 05341953 2021-04-01 2022-03-31 05341953 2023-03-31 05341953 2022-03-31 05341953 c:Director1 2022-04-01 2023-03-31 05341953 d:Buildings 2022-04-01 2023-03-31 05341953 d:Buildings 2023-03-31 05341953 d:Buildings 2022-03-31 05341953 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05341953 d:LandBuildings 2023-03-31 05341953 d:LandBuildings 2022-03-31 05341953 d:PlantMachinery 2022-04-01 2023-03-31 05341953 d:PlantMachinery 2023-03-31 05341953 d:PlantMachinery 2022-03-31 05341953 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05341953 d:MotorVehicles 2022-04-01 2023-03-31 05341953 d:MotorVehicles 2023-03-31 05341953 d:MotorVehicles 2022-03-31 05341953 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05341953 d:FurnitureFittings 2022-04-01 2023-03-31 05341953 d:FurnitureFittings 2023-03-31 05341953 d:FurnitureFittings 2022-03-31 05341953 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05341953 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05341953 d:CurrentFinancialInstruments 2023-03-31 05341953 d:CurrentFinancialInstruments 2022-03-31 05341953 d:Non-currentFinancialInstruments 2023-03-31 05341953 d:Non-currentFinancialInstruments 2022-03-31 05341953 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05341953 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 05341953 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 05341953 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 05341953 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 05341953 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 05341953 d:ShareCapital 2023-03-31 05341953 d:ShareCapital 2022-03-31 05341953 d:CapitalRedemptionReserve 2023-03-31 05341953 d:CapitalRedemptionReserve 2022-03-31 05341953 d:RetainedEarningsAccumulatedLosses 2023-03-31 05341953 d:RetainedEarningsAccumulatedLosses 2022-03-31 05341953 c:FRS102 2022-04-01 2023-03-31 05341953 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 05341953 c:FullAccounts 2022-04-01 2023-03-31 05341953 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05341953 2 2022-04-01 2023-03-31 05341953 6 2022-04-01 2023-03-31 05341953 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 05341953 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 05341953 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 05341953 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-03-31 05341953 d:LeasedAssetsHeldAsLessee 2023-03-31 05341953 d:LeasedAssetsHeldAsLessee 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 05341953









UK DIES GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
UK DIES GROUP LIMITED
REGISTERED NUMBER: 05341953

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
866,146
939,911

  
866,146
939,911

Current assets
  

Stocks
  
366,589
351,059

Debtors: amounts falling due within one year
 5 
1,617,332
1,450,933

Cash at bank and in hand
  
408,349
227,258

  
2,392,270
2,029,250

Creditors: amounts falling due within one year
 6 
(389,391)
(328,999)

Net current assets
  
 
 
2,002,879
 
 
1,700,251

Total assets less current liabilities
  
2,869,025
2,640,162

Creditors: amounts falling due after more than one year
 7 
(79,855)
(134,883)

Provisions for liabilities
  

Deferred tax
 9 
(143,141)
(152,921)

  
 
 
(143,141)
 
 
(152,921)

Net assets
  
2,646,029
2,352,358


Capital and reserves
  

Called up share capital 
  
100
100

Capital redemption reserve
  
407,516
407,516

Profit and loss account
  
2,238,413
1,944,742

  
2,646,029
2,352,358


Page 1

 
UK DIES GROUP LIMITED
REGISTERED NUMBER: 05341953
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 November 2023.



M Singh
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
UK DIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Company was incorporated as a Limited Company in the United Kingdom on 25 January 2005.
The Company's registered office is 15 Birchall Street, Digbeth, Birmingham, B12 0RP.
The principal activity of the company is that of the manufacture of dies and tools.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearesr £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a
cash flow statement on the grounds that it qualifies as a small company.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
UK DIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue 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 is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: Lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
UK DIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 5

 
UK DIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the below methods.

Depreciation is provided on the following basis:

Freehold property
-
4% straight line
Plant and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
20% - 33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the statement of comprehensive income.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

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 method.

Page 6

 
UK DIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.17

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

 
2.18

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 52 (2022 - 63).

Page 7

 
UK DIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Freehold property
Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
207,500
3,263,655
16,500
409,793
3,897,448


Additions
-
74,802
-
12,770
87,572



At 31 March 2023

207,500
3,338,457
16,500
422,563
3,985,020



Depreciation


At 1 April 2022
72,000
2,526,147
2,062
357,327
2,957,536


Charge for the year on owned assets
6,000
118,696
3,610
33,032
161,338



At 31 March 2023

78,000
2,644,843
5,672
390,359
3,118,874



Net book value



At 31 March 2023
129,500
693,614
10,828
32,204
866,146



At 31 March 2022
135,500
737,507
14,438
52,466
939,911




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold Property
129,500
135,500

129,500
135,500


Page 8

 
UK DIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
-
139,151

-
139,151


5.


Debtors

2023
2022
£
£


Trade debtors
606,229
663,793

Amounts owed by group undertakings
750,163
496,021

Other debtors
228,547
231,997

Prepayments and accrued income
32,393
59,122

1,617,332
1,450,933



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
11,761

Trade creditors
207,059
186,224

Corporation tax
74,660
-

Other taxation and social security
63,212
35,727

Obligations under finance lease and hire purchase contracts
-
27,020

Other creditors
32,399
45,931

Accruals and deferred income
12,061
22,336

389,391
328,999


Bank loans and overdrafts are secured by a debenture and a legal charge of the freehold land and buildings.

Page 9

 
UK DIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
37,916

Other creditors
79,855
96,967

79,855
134,883



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
11,761


-
11,761

Amounts falling due 1-2 years

Bank loans
-
37,916


-
37,916



-
49,677



9.


Deferred taxation




2023


£






At beginning of year
(152,921)


Charged to profit or loss
9,780



At end of year
(143,141)

Page 10

 
UK DIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(143,141)
(152,921)

(143,141)
(152,921)

 
Page 11