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REGISTERED NUMBER: 02100725 (England and Wales)


















DACEY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






DACEY LTD (REGISTERED NUMBER: 02100725)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DACEY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: P Cooper
H J Huntley





REGISTERED OFFICE: Sanatorium Road
Canton
Cardiff
County of Cardiff
CF11 8DG





REGISTERED NUMBER: 02100725 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

DACEY LTD (REGISTERED NUMBER: 02100725)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 429,430 446,330

CURRENT ASSETS
Stocks 1,091,751 1,273,620
Debtors 5 1,660,314 1,641,301
Cash at bank and in hand 33,754 61,005
2,785,819 2,975,926
CREDITORS
Amounts falling due within one year 6 (1,245,388 ) (1,718,960 )
NET CURRENT ASSETS 1,540,431 1,256,966
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,969,861

1,703,296

CREDITORS
Amounts falling due after more than one
year

7

(94,973

)

(57,874

)

PROVISIONS FOR LIABILITIES (40,488 ) (69,867 )
NET ASSETS 1,834,400 1,575,555

CAPITAL AND RESERVES
Called up share capital 9 98,901 98,901
Capital redemption reserve 20,000 20,000
Retained earnings 1,715,499 1,456,654
SHAREHOLDERS' FUNDS 1,834,400 1,575,555

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:



P Cooper - Director


DACEY LTD (REGISTERED NUMBER: 02100725)

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


1. STATUTORY INFORMATION

Dacey 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.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 1A.

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

The turnover during the year under review is comprised of the sale goods including bespoke orthotic devices and off the shelf class 1 medical device. In addition turnover includes amounts billed and billable in respect of the provision of healthcare services during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life.

Improvements to property- 10% on cost
Fixture and fittings- 33% on cost
Plant and machinery- 10% on cost
Motor vehicles- 25% on cost
Computer equipment -33% on cost

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Current tax
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for theyear and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

DACEY LTD (REGISTERED NUMBER: 02100725)

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


2. ACCOUNTING POLICIES - continued

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.

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.

Government grants
Capital grants received and receivable are treated as deferred income and amortised to the profit and loss account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the profit and loss account when received.

Financial instruments
Basic financial instruments are recognised at amortised cost.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 88 (2022 - 94 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2022 166,875 656,090 21,514
Additions 19,519 128,420 16,570
Disposals - - -
At 31 October 2023 186,394 784,510 38,084
DEPRECIATION
At 1 November 2022 8,975 433,697 16,596
Charge for year 17,947 39,948 5,694
Eliminated on disposal - - -
Impairments 17,552 95,325 -
At 31 October 2023 44,474 568,970 22,290
NET BOOK VALUE
At 31 October 2023 141,920 215,540 15,794
At 31 October 2022 157,900 222,393 4,918

DACEY LTD (REGISTERED NUMBER: 02100725)

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


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 105,378 51,627 1,001,484
Additions 18,820 5,134 188,463
Disposals (36,993 ) - (36,993 )
At 31 October 2023 87,205 56,761 1,152,954
DEPRECIATION
At 1 November 2022 60,883 35,003 555,154
Charge for year 16,132 9,682 89,403
Eliminated on disposal (33,910 ) - (33,910 )
Impairments - - 112,877
At 31 October 2023 43,105 44,685 723,524
NET BOOK VALUE
At 31 October 2023 44,100 12,076 429,430
At 31 October 2022 44,495 16,624 446,330

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,029,668 888,685
Amounts owed by group undertakings 464,881 607,717
Corporation tax 8,809 -
Other debtors 22,772 40,808
Prepayments and accrued income 134,184 104,091
1,660,314 1,641,301

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 16,563 15,109
Trade creditors 619,015 810,247
Amounts owed to group undertakings - 20,809
Corporation tax - 25
Social security and other taxes 37,986 43,881
VAT 167,940 121,428
Other creditors 258,058 626,009
Pension fund payable 444 -
Accruals and deferred income 139,337 77,351
Deferred government grants 6,045 4,101
1,245,388 1,718,960

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 15,568 20,967
Deferred government grants 79,405 36,907
94,973 57,874

DACEY LTD (REGISTERED NUMBER: 02100725)

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


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 32,131 36,076
Other creditors 238,280 552,024
270,411 588,100

The hire purchase liabilities are secured on the assets to which they relate.

The company's assets have been pledged as security for the other creditor. In addition, other companies in the group have provided a cross guarantee for the other creditor.

The company has pledged its assets as a guarantee for the bank loan taken out by its parent company which amounted to £1,869,660 at the year end.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
90,000 Ordinary A Shares £1 90,000 90,000
8,901 Ordinary B Shares £1 8,901 8,901
98,901 98,901