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REGISTERED NUMBER: 03186695 (England and Wales)















Financial Statements for the Year Ended 31 July 2023

for

Dinstock Limited

Dinstock Limited (Registered number: 03186695)






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


Dinstock Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: S G Stephen Pearson
S R Paskin





REGISTERED OFFICE: Unit C1 - C2
Hortonwood 10
Telford
Shropshire
TF1 7ES





REGISTERED NUMBER: 03186695 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Dinstock Limited (Registered number: 03186695)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 329,598 334,945

CURRENT ASSETS
Stocks 713,795 878,153
Debtors 5 607,884 773,090
Cash at bank and in hand 66,737 -
1,388,416 1,651,243
CREDITORS
Amounts falling due within one year 6 1,030,770 1,265,929
NET CURRENT ASSETS 357,646 385,314
TOTAL ASSETS LESS CURRENT
LIABILITIES

687,244

720,259

CREDITORS
Amounts falling due after more than one
year

7

(94,008

)

(126,874

)

PROVISIONS FOR LIABILITIES (72,380 ) (71,962 )
NET ASSETS 520,856 521,423

CAPITAL AND RESERVES
Called up share capital 10 60,000 60,000
Revaluation reserve 11 89,478 102,260
Retained earnings 371,378 359,163
SHAREHOLDERS' FUNDS 520,856 521,423

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.

Dinstock Limited (Registered number: 03186695)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2024 and were signed on its behalf by:





S G Stephen Pearson - Director


Dinstock Limited (Registered number: 03186695)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Dinstock 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.

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
The turnover shown in the profit and loss account is the amount receivable for the provision of goods and services falling within the Company's activities, net of Value Added Tax, rebates and trade discounts. Turnover from the provision of goods and services are recognised in the accounting period in which the Company obtains the right to consideration in exchange for its performance and when the amounts to be recognised are fixed or determinable and collectability is reasonably assured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold improvements- 10% on cost
Plant and machinery- 10% - 20% on cost
Fixtures and fittings- 20% - 33.3% on cost
Motor vehicles- 20% on cost
Equipment- 33.3% on cost

During the year the amounts by which assets within the above listed classes are depreciated was changed by the directors. This more accurately reflects the useful lives of the assets within the class. As a change in estimate this has not been reflected retrospectively.

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.

Inventories has been valued at the lower of cost and estimated selling price less costs to sell.


Dinstock Limited (Registered number: 03186695)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 22 ) .

Dinstock Limited (Registered number: 03186695)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
COST OR VALUATION
At 1 August 2022 86,109 722,018 81,380
Additions 46,200 7,721 1,348
Disposals - - (2,586 )
At 31 July 2023 132,309 729,739 80,142
DEPRECIATION
At 1 August 2022 51,122 437,822 70,511
Charge for year 7,191 39,174 9,194
Eliminated on disposal - - (2,422 )
At 31 July 2023 58,313 476,996 77,283
NET BOOK VALUE
At 31 July 2023 73,996 252,743 2,859
At 31 July 2022 34,987 284,196 10,869

Motor
vehicles Equipment Totals
£    £    £   
COST OR VALUATION
At 1 August 2022 29,147 7,818 926,472
Additions - - 55,269
Disposals - - (2,586 )
At 31 July 2023 29,147 7,818 979,155
DEPRECIATION
At 1 August 2022 24,254 7,818 591,527
Charge for year 4,893 - 60,452
Eliminated on disposal - - (2,422 )
At 31 July 2023 29,147 7,818 649,557
NET BOOK VALUE
At 31 July 2023 - - 329,598
At 31 July 2022 4,893 - 334,945

Dinstock Limited (Registered number: 03186695)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 July 2023 is represented by:

Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
Valuation in 2010 - 255,646 -
Cost 132,309 474,093 80,142
132,309 729,739 80,142

Motor
vehicles Equipment Totals
£    £    £   
Valuation in 2010 - - 255,646
Cost 29,147 7,818 723,509
29,147 7,818 979,155

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

2023 2022
£    £   
Cost 474,093 466,372
Aggregate depreciation 310,828 284,436

Plant and machinery were valued on an open market basis on by the directors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 August 2022
and 31 July 2023 29,115
DEPRECIATION
At 1 August 2022 24,222
Charge for year 4,893
At 31 July 2023 29,115
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 4,893

Dinstock Limited (Registered number: 03186695)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 557,685 717,384
Other debtors 17,276 14,969
574,961 732,353

Amounts falling due after more than one year:
Other debtors 32,923 40,737

Aggregate amounts 607,884 773,090

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 109,454 125,422
Hire purchase contracts (see note 8) 5,580 5,580
Trade creditors 348,280 411,708
Amounts owed to group undertakings 9,691 32,336
Taxation and social security 44,486 42,285
Other creditors 513,279 648,598
1,030,770 1,265,929

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 19,312 29,098
Hire purchase contracts (see note 8) 5,480 11,060
Other creditors 69,216 86,716
94,008 126,874

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 5,580 5,580
Between one and five years 5,480 11,060
11,060 16,640

Dinstock Limited (Registered number: 03186695)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2022
£    £   
Within one year 19,493 -
Between one and five years 48,576 -
68,069 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 99,666 115,634
Bank loans 29,100 38,886
Other loans 86,716 100,661
Hire purchase contracts 11,060 16,640
Sales invoice financing 395,858 548,949
622,400 820,770

Bank loans and overdrafts are secured by a fixed charge held over the assets of the company by the bank.

Hire purchase agreements are secured against the assets to which the agreement relates.

Invoice financing is secured against the trade debtor book of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
60,000 Ordinary £1 60,000 60,000

11. RESERVES
Revaluation
reserve
£   
At 1 August 2022 102,260
Transfer to profit and loss
account (12,782 )

At 31 July 2023 89,478

12. ULTIMATE PARENT COMPANY

The company is an 85% subsidiary of Dinstock Holdings Limited which is registered in England.