IRIS Accounts Production v24.1.4.33 01872575 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh018725752023-01-31018725752024-01-31018725752023-02-012024-01-31018725752022-01-31018725752022-02-012023-01-31018725752023-01-3101872575ns15:EnglandWales2023-02-012024-01-3101872575ns14:PoundSterling2023-02-012024-01-3101872575ns10:Director12023-02-012024-01-3101872575ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3101872575ns10:SmallEntities2023-02-012024-01-3101872575ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3101872575ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3101872575ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3101872575ns10:FullAccounts2023-02-012024-01-3101872575ns10:Director22023-02-012024-01-3101872575ns10:CompanySecretary12023-02-012024-01-3101872575ns10:RegisteredOffice2023-02-012024-01-3101872575ns5:CurrentFinancialInstruments2024-01-3101872575ns5:CurrentFinancialInstruments2023-01-3101872575ns5:Non-currentFinancialInstruments2024-01-3101872575ns5:Non-currentFinancialInstruments2023-01-3101872575ns5:ShareCapital2024-01-3101872575ns5:ShareCapital2023-01-3101872575ns5:CapitalRedemptionReserve2024-01-3101872575ns5:CapitalRedemptionReserve2023-01-3101872575ns5:RetainedEarningsAccumulatedLosses2024-01-3101872575ns5:RetainedEarningsAccumulatedLosses2023-01-3101872575ns5:PlantMachinery2023-02-012024-01-3101872575ns5:PlantMachinery2023-01-3101872575ns5:PlantMachinery2024-01-3101872575ns5:PlantMachinery2023-01-3101872575ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-3101872575ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-02-012024-01-3101872575ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-01-3101872575ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-3101872575ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3101872575ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-31
REGISTERED NUMBER: 01872575 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

DKM SHEET METAL COMPANY LIMITED

DKM SHEET METAL COMPANY LIMITED (REGISTERED NUMBER: 01872575)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DKM SHEET METAL COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr G R Goring
Mr S E Hearn





SECRETARY: Mrs S M Goring





REGISTERED OFFICE: Unit 9
Oldends Industrial Estate
Stonehouse
Gloucestershire
GL10 3RQ





REGISTERED NUMBER: 01872575 (England and Wales)





ACCOUNTANTS: Shiner Mitchell Fisher & Co Ltd
Smith House
George Street
Nailsworth
Stroud
Gloucestershire
GL6 0AG

DKM SHEET METAL COMPANY LIMITED (REGISTERED NUMBER: 01872575)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,409,116 1,384,388

CURRENT ASSETS
Stocks 198,173 236,640
Debtors 5 664,474 781,138
Cash at bank 1,949,219 2,101,074
2,811,866 3,118,852
CREDITORS
Amounts falling due within one year 6 1,717,550 2,101,815
NET CURRENT ASSETS 1,094,316 1,017,037
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,503,432

2,401,425

CREDITORS
Amounts falling due after more than one
year

7

(129,418

)

(120,026

)

PROVISIONS FOR LIABILITIES (291,562 ) (224,480 )
NET ASSETS 2,082,452 2,056,919

CAPITAL AND RESERVES
Called up share capital 66 66
Capital redemption reserve 33 33
Retained earnings 2,082,353 2,056,820
SHAREHOLDERS' FUNDS 2,082,452 2,056,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

DKM SHEET METAL COMPANY LIMITED (REGISTERED NUMBER: 01872575)

BALANCE SHEET - continued
31 JANUARY 2024


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 8 August 2024 and were signed on its behalf by:





Mr S E Hearn - Director


DKM SHEET METAL COMPANY LIMITED (REGISTERED NUMBER: 01872575)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

DKM Sheet Metal Company 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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.

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.

DKM SHEET METAL COMPANY LIMITED (REGISTERED NUMBER: 01872575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 60 (2023 - 60 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 2,175,893
Additions 441,945
Disposals (168,149 )
At 31 January 2024 2,449,689
DEPRECIATION
At 1 February 2023 791,505
Charge for year 334,885
Eliminated on disposal (85,817 )
At 31 January 2024 1,040,573
NET BOOK VALUE
At 31 January 2024 1,409,116
At 31 January 2023 1,384,388

DKM SHEET METAL COMPANY LIMITED (REGISTERED NUMBER: 01872575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2023 1,009,019
Additions 184,647
Disposals (93,450 )
Transfer to ownership (513,790 )
At 31 January 2024 586,426
DEPRECIATION
At 1 February 2023 395,258
Charge for year 152,876
Eliminated on disposal (46,725 )
Transfer to ownership (300,211 )
At 31 January 2024 201,198
NET BOOK VALUE
At 31 January 2024 385,228
At 31 January 2023 613,761

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 593,235 680,541
Other debtors 71,239 100,597
664,474 781,138

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 56,327 87,691
Trade creditors 678,639 1,211,860
Taxation and social security 380,902 176,129
Other creditors 601,682 626,135
1,717,550 2,101,815

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 129,418 120,026

DKM SHEET METAL COMPANY LIMITED (REGISTERED NUMBER: 01872575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Hire purchase contracts 185,745 207,717

9. RELATED PARTY DISCLOSURES

The company is 100% under the control of its directors Mr G Goring and Mr S Hearn.

The company provides goods and services to Everhot Limited, a company 100% controlled by Mr G Goring and his wife. The value of such services provided during the year, all on an arms length basis, was £2,544,116 (2023 - £3,593,679) and the balance owing at 31 January 2024 was £nil (2022 - £nil).

During the year the company has made an unsecured, interest free loan of £250,000 (2023 - £250,000) to DKM Estates Ltd, a company which is under common ownership and control.

The company rents premises on an arms length basis from DKM Estates Ltd and Everhot Property Ltd and the amount paid in the year was £124,529 (2023 - £124,529).