IRIS Accounts Production v24.1.0.578 12999001 director 1.1.23 31.12.23 31.12.23 8.4.24 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh129990012022-12-31129990012023-12-31129990012023-01-012023-12-31129990012021-12-31129990012022-01-012022-12-31129990012022-12-3112999001ns15:EnglandWales2023-01-012023-12-3112999001ns14:PoundSterling2023-01-012023-12-3112999001ns10:Director12023-01-012023-12-3112999001ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3112999001ns10:SmallEntities2023-01-012023-12-3112999001ns10:Audited2023-01-012023-12-3112999001ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3112999001ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3112999001ns10:FullAccounts2023-01-012023-12-3112999001ns10:OrdinaryShareClass12023-01-012023-12-3112999001ns5:CurrentFinancialInstruments2023-12-3112999001ns5:CurrentFinancialInstruments2022-12-3112999001ns5:ShareCapital2023-12-3112999001ns5:ShareCapital2022-12-3112999001ns5:RetainedEarningsAccumulatedLosses2023-12-3112999001ns5:RetainedEarningsAccumulatedLosses2022-12-3112999001ns10:RegisteredOffice2023-01-012023-12-311299900112023-01-012023-12-3112999001ns5:PlantMachinery2023-01-012023-12-3112999001ns5:FurnitureFittings2023-01-012023-12-3112999001ns5:MotorVehicles2023-01-012023-12-3112999001ns5:ComputerEquipment2023-01-012023-12-3112999001ns5:PlantMachinery2022-12-3112999001ns5:FurnitureFittings2022-12-3112999001ns5:MotorVehicles2022-12-3112999001ns5:ComputerEquipment2022-12-3112999001ns5:PlantMachinery2023-12-3112999001ns5:FurnitureFittings2023-12-3112999001ns5:MotorVehicles2023-12-3112999001ns5:ComputerEquipment2023-12-3112999001ns5:PlantMachinery2022-12-3112999001ns5:FurnitureFittings2022-12-3112999001ns5:MotorVehicles2022-12-3112999001ns5:ComputerEquipment2022-12-3112999001ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3112999001ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3112999001ns5:CurrentFinancialInstruments2023-01-012023-12-3112999001ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 12999001 (England and Wales)











DC BATTERY TECHNOLOGIES LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






DC BATTERY TECHNOLOGIES LTD (REGISTERED NUMBER: 12999001)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


DC BATTERY TECHNOLOGIES LTD (REGISTERED NUMBER: 12999001)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 64,079

CURRENT ASSETS
Stocks 369,139 3,140,678
Debtors 5 506,193 1,688,038
Cash at bank 28,674 16,923
904,006 4,845,639
CREDITORS
Amounts falling due within one year 6 3,574,358 6,439,718
NET CURRENT LIABILITIES (2,670,352 ) (1,594,079 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,670,352

)

(1,530,000

)

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (2,670,452 ) (1,530,100 )
SHAREHOLDERS' FUNDS (2,670,352 ) (1,530,000 )

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 and authorised for issue by the director and authorised for issue on 28 March 2024 and were signed by:





E Mueller - Director


DC BATTERY TECHNOLOGIES LTD (REGISTERED NUMBER: 12999001)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

DC Battery Technologies Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12999001

Registered office: Unit 21 Westbrook Trading Estate
Westbrook Road
Trafford Park
Manchester
M17 1AY

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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, which are described in note 2, management is required to make judgments, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from their sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Stock Provision - management apply judgement in evaluating stock for obsolescence. This judgement is based on management knowledge of the stock and customer demand. At each Balance Sheet date, stocks are assessed for impairment and written down where appropriate.

Warranty Provision - management apply judgement in evaluating a suitable method to estimate the provision. This judgement is based on management knowledge of their customer terms and likelihood of a claim. At each Balance Sheet date, warranty provisions are assessed to ensure they are accurate.

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 if the revision affects only that period, or the period of the revision and future periods if the revision affects both the current and future periods.

Turnover
Turnover represents amounts (excluding value added tax) derived from the provision of goods and services to customers during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

DC BATTERY TECHNOLOGIES LTD (REGISTERED NUMBER: 12999001)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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

Debtors and creditors
Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts.

Any losses arising from impairment are recognised in the profit and loss account.

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.

Hire purchase and leasing commitments
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.

Going concern
The financial statements have been prepared on a basis other than going concern as the company intends to cease trading in 2024.

No adjustments were necessary to the amounts at which the net liabilities are included in the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 15 ) .

DC BATTERY TECHNOLOGIES LTD (REGISTERED NUMBER: 12999001)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 - 56,975 25,994 7,532 90,501
Additions 4,861 2,503 - 7,800 15,164
Disposals (4,861 ) (59,478 ) (25,994 ) (15,332 ) (105,665 )
At 31 December 2023 - - - - -
DEPRECIATION
At 1 January 2023 - 17,213 4,561 4,648 26,422
Charge for year 709 13,631 4,153 3,054 21,547
Eliminated on disposal (709 ) (30,844 ) (8,714 ) (7,702 ) (47,969 )
At 31 December 2023 - - - - -
NET BOOK VALUE
At 31 December 2023 - - - - -
At 31 December 2022 - 39,762 21,433 2,884 64,079

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 497,788 1,491,333
Other debtors 5,600 166,519
Prepayments and accrued income 2,805 30,186
506,193 1,688,038

Within trade debtors is a balance of £466,755 (2022 : £915,200) owed from group undertakings.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,725,320 3,217,250
Amounts owed to group undertakings 772,758 -
Social security and other taxes 2,919 12,337
VAT 6,924 203,348
Other creditors 15,608 2,974,182
Accruals and deferred income 50,829 32,601
3,574,358 6,439,718

Within trade creditors is a balance of £2,678,402 (2022 : £98,961) owed to group undertakings.

DC BATTERY TECHNOLOGIES LTD (REGISTERED NUMBER: 12999001)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other creditors 15,570 592,839

Included in other creditors are invoice discounting debts amounting to £15,570 (2022 - £592,839). These debts are secured by a fixed and floating charge against all present and future assets of the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

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

The Report of the Auditors was unqualified.


Financial statements prepared on a basis other than going concern
We draw attention to Note 2 to the financial statements which explains that the company intends to cease trading in 2024 and therefore the director does not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter.

Karl Hobbins FCCA (Senior Statutory Auditor)
for and on behalf of CFW Accountants LLP

Material uncertainty related to going concern
We draw attention to note 2 in the financial statements and the going concern accounting policy, which states that the company's ability to continue as a going concern requires the continuing support of it's immediate and ultimate parent companies and the director is confident that this will remain to be the case.

This indicates that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the director's assessment of the entity's ability to continue to adopt the going concern basis of accounting included discussions with local management, review of the financial support decisions being made and discussions and meetings with group management. Key observations arising with respect to our evaluation were that transactions with group companies continue on normal terms despite the debt currently due to them and group management are fully focused on implementing strict controls and processes to improve the trading position of the company.

Our responsibilities and the responsibility of the director with respect to going concern are described in the relevant section of this report.

DC BATTERY TECHNOLOGIES LTD (REGISTERED NUMBER: 12999001)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


10. CONTINGENT LIABILITIES

The company has, in the normal course of business, given warranties to its customers for any faulty products. At the balance sheet date the estimate of the financial effect for any future warranty claim cannot be determined with reasonable certainty. This is due to the uncertainties relating to the amount and timing of any potential future claim.

Warranty claims made in 2023 total £89,733 however due to a lack historical information to support a pattern of claims, it is not possible to determine the financial effect for any future warranty claims with reasonable certainty.

11. OTHER FINANCIAL COMMITMENTS

The company had other financial commitments, in the form of operating leases, amounting to Nil (2022 - £688,034) at the balance sheet date.

12. RELATED PARTY DISCLOSURES

Transactions during the year and balances at 31 December 2023 relating to owners holding a participating interest in the company were:

20232022
£ £

Sales1,171,6611,867
Purchases835,12729,336
Amounts owing to (loan)772,758-
Amounts owing to 2,678,40274,420
Amounts owing from 442,929-

Transactions during the year and balances at 31 December 2023 relating to companies under common control were:
20232022
£ £

Sales60,1101,085,887
Purchases80,0731,796,312
Amounts owing to (loan)-24,328
Amounts owing to -2,258,610
Amounts owing from 23,825512,439

13. ULTIMATE CONTROLLING PARTY

The controlling party is A Müller GmbH.

The ultimate controlling party is Olympia Group Ltd (incorporated in Cyprus).

A Müller GmbH's register office address is 32 Tholeyer Street, 66620 Nonnweiler, Germany.