Company registration number 14306849 (England and Wales)
DANIELS MANUFACTURING OPERATIONS UK LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
DANIELS MANUFACTURING OPERATIONS UK LTD
COMPANY INFORMATION
Director
Mr Dan Daniels
(Appointed 19 August 2022)
Secretary
Dean Mcphee
Company number
14306849
Registered office
Unit 1 Enterprise Point Enterpise City
Meadow Avenue
Spennymoor
United Kingdom
DL16 6JF
Accountants
BK Plus Limited
Azzurri House
Walsall Road
Aldridge
Walsall
England
WS9 0RB
DANIELS MANUFACTURING OPERATIONS UK LTD
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 7
DANIELS MANUFACTURING OPERATIONS UK LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 JUNE 2023
- 1 -
The director presents his annual report and financial statements for the year ended 30 June 2023.
Principal activities
The principal activity of the company continued to be that of the manufacture of medical and dental instruments and supplies.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Mr Dan Daniels
(Appointed 19 August 2022)
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr Dan Daniels
Director
28 March 2024
DANIELS MANUFACTURING OPERATIONS UK LTD
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF DANIELS MANUFACTURING OPERATIONS UK LTD
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Daniels Manufacturing Operations Uk Ltd for the year ended 30 June 2023 which comprise the profit and loss account, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the board of directors of Daniels Manufacturing Operations Uk Ltd, as a body, in accordance with the terms of our engagement letter dated 31 August 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Daniels Manufacturing Operations Uk Ltd and state those matters that we have agreed to state to the board of directors of Daniels Manufacturing Operations Uk Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Daniels Manufacturing Operations Uk Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Daniels Manufacturing Operations Uk Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Daniels Manufacturing Operations Uk Ltd. You consider that Daniels Manufacturing Operations Uk Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Daniels Manufacturing Operations Uk Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
BK Plus Limited
28 March 2024
Chartered Accountants
Azzurri House
Walsall Road
Aldridge
Walsall
England
WS9 0RB
DANIELS MANUFACTURING OPERATIONS UK LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
2023
£
Turnover
-
Profit before taxation
Tax on profit
Profit for the financial year
The profit and loss account has been prepared on the basis that all operations are continuing operations.
DANIELS MANUFACTURING OPERATIONS UK LTD
BALANCE SHEET
- 4 -
2023
Notes
£
£
Current assets
Debtors
4
100
Net current assets
100
Capital and reserves
Called up share capital
100
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 March 2024
Mr Dan Daniels
Director
Company registration number 14306849 (England and Wales)
DANIELS MANUFACTURING OPERATIONS UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -
1
Accounting policies
Company information
Daniels Manufacturing Operations Uk Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Enterprise Point Enterpise City, Meadow Avenue, Spennymoor, United Kingdom, DL16 6JF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
DANIELS MANUFACTURING OPERATIONS UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.5
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
Number
Total
1
DANIELS MANUFACTURING OPERATIONS UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
4
Debtors
2023
Amounts falling due within one year:
£
Other debtors
100
DANIELS MANUFACTURING OPERATIONS UK LTD
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023