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REGISTERED NUMBER: 00817931 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

DRAYCAST FOUNDRIES LIMITED

DRAYCAST FOUNDRIES LIMITED (REGISTERED NUMBER: 00817931)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DRAYCAST FOUNDRIES LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTORS: P Nagle
S Nagle





SECRETARY: P Nagle





REGISTERED OFFICE: Bellingdon Road
Chesham
Buckinghamshire
HP5 2NR





REGISTERED NUMBER: 00817931 (England and Wales)





ACCOUNTANTS: Durrants, Chartered Accountants
24 Wellington Business Park
Dukes Ride
Crowthorne
Berkshire
RG45 6LS

DRAYCAST FOUNDRIES LIMITED (REGISTERED NUMBER: 00817931)

BALANCE SHEET
31 July 2023

31/7/23 31/7/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 776,381 810,238

CURRENT ASSETS
Stocks 261,135 279,244
Debtors 5 820,148 824,445
Cash at bank and in hand 294,081 268,864
1,375,364 1,372,553
CREDITORS
Amounts falling due within one year 6 770,950 728,316
NET CURRENT ASSETS 604,414 644,237
TOTAL ASSETS LESS CURRENT LIABILITIES 1,380,795 1,454,475

CREDITORS
Amounts falling due after more than one year 7 (187,105 ) (218,613 )

PROVISIONS FOR LIABILITIES (18,534 ) (23,894 )
NET ASSETS 1,175,156 1,211,968

CAPITAL AND RESERVES
Called up share capital 10 8,000 8,000
Revaluation reserve 11 528,688 519,103
Capital redemption reserve 4,000 4,000
Retained earnings 634,468 680,865
SHAREHOLDERS' FUNDS 1,175,156 1,211,968

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

DRAYCAST FOUNDRIES LIMITED (REGISTERED NUMBER: 00817931)

BALANCE SHEET - continued
31 July 2023


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 1 February 2024 and were signed on its behalf by:




P Nagle - Director



S Nagle - Director


DRAYCAST FOUNDRIES LIMITED (REGISTERED NUMBER: 00817931)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Draycast Foundries 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 as modified by the revaluation of certain assets.

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

Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

DRAYCAST FOUNDRIES LIMITED (REGISTERED NUMBER: 00817931)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 33 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 August 2022 1,112,467 1,355,773 2,468,240
Additions - 4,935 4,935
At 31 July 2023 1,112,467 1,360,708 2,473,175
DEPRECIATION
At 1 August 2022 433,848 1,224,154 1,658,002
Charge for year 17,574 21,218 38,792
At 31 July 2023 451,422 1,245,372 1,696,794
NET BOOK VALUE
At 31 July 2023 661,045 115,336 776,381
At 31 July 2022 678,619 131,619 810,238

Cost or valuation at 31 July 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 1995 554,191 - 554,191
Cost 558,276 1,360,708 1,918,984
1,112,467 1,360,708 2,473,175

DRAYCAST FOUNDRIES LIMITED (REGISTERED NUMBER: 00817931)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS - continued

If land and buildings had not been revalued they would have been included at the following historical cost:

31/7/23 31/7/22
£    £   
Cost 558,276 558,276
Aggregate depreciation 157,069 150,580

Value of land in freehold land and buildings 233,808 233,808

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Trade debtors 798,123 737,412
Other debtors 22,025 87,033
820,148 824,445

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Bank loans and overdrafts 32,152 27,586
Trade creditors 309,850 376,180
Taxation and social security 261,071 185,823
Other creditors 167,877 138,727
770,950 728,316

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/7/23 31/7/22
£    £   
Bank loans 187,105 218,613

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/7/23 31/7/22
£    £   
Within one year 17,590 8,532
Between one and five years 19,870 5,462
37,460 13,994

DRAYCAST FOUNDRIES LIMITED (REGISTERED NUMBER: 00817931)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31/7/23 31/7/22
£    £   
Bank overdrafts and loans 188,423 205,364

The bank loan and overdraft for the sum of £188,423 are secured by an unlimited debenture incorporating a legal charge on the freehold property of the Company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/7/23 31/7/22
value: £    £   
8,000 Ordinary £1 8,000 8,000

11. RESERVES
Revaluation
reserve
£   
At 1 August 2022 519,103
Movement in deferred tax provision 9,585

At 31 July 2023 528,688

12. PENSION COMMITMENTS

The company operates a defined contribution pension scheme, Draycast Foundries Pension Scheme, for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £3,202 (2022: £3,806) were due to the fund. They are included in other creditors.

13. ULTIMATE CONTROLLING PARTY

There was no ultimate controlling party identifiable during the year.