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REGISTERED NUMBER: 01487784 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

DAYFOLD LTD

DAYFOLD LTD (REGISTERED NUMBER: 01487784)

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


DAYFOLD LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: L R Abbott-Fryer
M F Shier
D Simmons
M E Smith





REGISTERED OFFICE: 27 Black Moor Road
Ebblake Industrial Estate
Verwood
Dorset
BH31 6BE





REGISTERED NUMBER: 01487784 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

DAYFOLD LTD (REGISTERED NUMBER: 01487784)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,500 11,500
Tangible assets 5 1,502,717 780,843
Investments 6 20,000 20,000
1,536,217 812,343

CURRENT ASSETS
Stocks 65,119 65,777
Debtors 7 1,340,667 1,262,303
Cash at bank and in hand 65,247 69,099
1,471,033 1,397,179
CREDITORS
Amounts falling due within one year 8 1,492,457 1,096,313
NET CURRENT (LIABILITIES)/ASSETS (21,424 ) 300,866
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,514,793

1,113,209

CREDITORS
Amounts falling due after more than one
year

9

(742,554

)

(520,945

)

PROVISIONS FOR LIABILITIES (219,207 ) (131,774 )
NET ASSETS 553,032 460,490

DAYFOLD LTD (REGISTERED NUMBER: 01487784)

BALANCE SHEET - continued
31 JULY 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 50,604 50,604
Capital redemption reserve 3,000 3,000
Other reserves 212,379 -
Retained earnings 287,049 406,886
553,032 460,490

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.

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 3 November 2023 and were signed on its behalf by:





L R Abbott-Fryer - Director


DAYFOLD LTD (REGISTERED NUMBER: 01487784)

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


1. STATUTORY INFORMATION

Dayfold Ltd 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.

Preparation of consolidated financial statements
The financial statements contain information about Dayfold Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property improvements - in accordance with the term of the lease
Plant and machinery - at varying rates on cost
Fixtures and fittings - at varying rates on cost
Motor vehicles - 25% on cost
Computer equipment - at varying rates on cost

Fixed assets are initially recorded at cost.

Due to the specialist nature of the equipment, plant and machinery is included at its most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the statement of other comprehensive income.

DAYFOLD LTD (REGISTERED NUMBER: 01487784)

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


2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiaries are measured at cost less any fair value adjustments through the profit and loss account.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2022 - 40 ) .

DAYFOLD LTD (REGISTERED NUMBER: 01487784)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022 16,000
Additions 4,000
At 31 July 2023 20,000
AMORTISATION
At 1 August 2022 4,500
Charge for year 2,000
At 31 July 2023 6,500
NET BOOK VALUE
At 31 July 2023 13,500
At 31 July 2022 11,500

5. TANGIBLE FIXED ASSETS
Leasehold Fixtures
property Plant and and
improvements machinery fittings
£    £    £   
COST OR VALUATION
At 1 August 2022 94,611 2,311,918 -
Additions - 556,956 -
Disposals - (22,556 ) -
Revaluations - 283,172 -
Reclassification/transfer - (169,132 ) 8,183
At 31 July 2023 94,611 2,960,358 8,183
DEPRECIATION
At 1 August 2022 33,907 1,591,779 -
Charge for year 14,005 106,263 568
Eliminated on disposal - (2,632 ) -
Reclassification/transfer - (130,272 ) 6,962
At 31 July 2023 47,912 1,565,138 7,530
NET BOOK VALUE
At 31 July 2023 46,699 1,395,220 653
At 31 July 2022 60,704 720,139 -

DAYFOLD LTD (REGISTERED NUMBER: 01487784)

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


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 August 2022 43,685 - 2,450,214
Additions 35,257 8,299 600,512
Disposals - - (22,556 )
Revaluations - - 283,172
Reclassification/transfer - 160,949 -
At 31 July 2023 78,942 169,248 3,311,342
DEPRECIATION
At 1 August 2022 43,685 - 1,669,371
Charge for year 6,583 14,467 141,886
Eliminated on disposal - - (2,632 )
Reclassification/transfer - 123,310 -
At 31 July 2023 50,268 137,777 1,808,625
NET BOOK VALUE
At 31 July 2023 28,674 31,471 1,502,717
At 31 July 2022 - - 780,843

Cost or valuation at 31 July 2023 is represented by:

Leasehold Fixtures
property Plant and and
improvements machinery fittings
£    £    £   
Valuation in 2023 - 283,172 -
Cost 94,611 2,677,186 8,183
94,611 2,960,358 8,183

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2023 - - 283,172
Cost 78,942 169,248 3,028,170
78,942 169,248 3,311,342

DAYFOLD LTD (REGISTERED NUMBER: 01487784)

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


5. TANGIBLE FIXED ASSETS - continued

During the current period, the directors revalued the plant and machinery on an open market basis.

The depreciation charge for assets held under hire purchase and finance lease agreements was £79,767 (2022 - £58,079). The net book value of assets held under hire purchase and finance lease agreements at the end of the year was £1,031,220 (2022 - £620,152).

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2022
and 31 July 2023 230,147
PROVISIONS
At 1 August 2022
and 31 July 2023 210,147
NET BOOK VALUE
At 31 July 2023 20,000
At 31 July 2022 20,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 659,895 537,654
Amounts owed by group undertakings 392,652 624,558
Amounts recoverable on contract - 3,071
Other debtors 288,120 97,020
1,340,667 1,262,303

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts (see note 10) 215,846 143,190
Trade creditors 663,173 538,168
Taxation and social security 44,428 80,276
Other creditors 519,010 284,679
1,492,457 1,096,313

DAYFOLD LTD (REGISTERED NUMBER: 01487784)

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


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 95,833 145,833
Hire purchase contracts (see note 10) 646,721 375,112
742,554 520,945

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 95,833

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 215,846 143,190
Between one and five years 646,721 375,112
862,567 518,302

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 145,833 195,833
Hire purchase contracts 862,567 518,302
1,008,400 714,135

DAYFOLD LTD (REGISTERED NUMBER: 01487784)

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


12. CONTINGENT LIABILITIES

The company is part of a VAT group and the following liabilities were outstanding at the balance sheet date.

2023 2022
£    £   
Opus UK Binding & Foiling Limited 21,156 16,920
Xadon Limited 21,556 15,977

13. RELATED PARTY DISCLOSURES

TRANSACTIONS WITH GROUP COMPANIES

Non interest bearing loans on which no terms of repayment have been agreed. The amount due from group companies at the balance sheet date amounted to £392,652 (2022 - £624,558).

TRANSACTIONS WITH DIRECTORS

Non interest bearing loans on which no terms of repayment have been agreed. The amount due to directors at the balance sheet date amounted to £11,960 (2022 - £112,000).

TRANSACTIONS WITH COMPANIES CONTROLLED BY THE DIRECTORS

Non interest bearing loans on which no terms of repayment have been agreed. The amount due from companies controlled by the directors amounted to £191,420 (2022 - NIL).

14. ULTIMATE PARENT COMPANY

In the opinion of the directors, Dayfold Presentation Limited (Company number 04479519 registered in England and Wales) was the company's parent and ultimate parent company throughout the current and previous year.