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REGISTERED NUMBER: 01158843 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Daymark Limited

Daymark Limited (Registered number: 01158843)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Daymark Limited

Company Information
for the year ended 31 December 2023







DIRECTOR: J M Bird



SECRETARY: Mrs P L Bird



REGISTERED OFFICE: 70 Hartlebury Trading Estate
Hartlebury
Worcestershire
DY10 4JB



REGISTERED NUMBER: 01158843 (England and Wales)



ACCOUNTANTS: Pinfields Limited
Chartered Accountants
Meryll House
57 Worcester Road
Bromsgrove
Worcestershire
B61 7DN



BANKERS: Barclays Bank Plc
66 Oxford Street
Kidderminster
Worcestershire
DY10 1BL

Daymark Limited (Registered number: 01158843)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 959,564 904,971

CURRENT ASSETS
Stocks 5 285,512 298,362
Debtors 6 336,459 424,008
Cash at bank and in hand 251,634 520,795
873,605 1,243,165
CREDITORS
Amounts falling due within one year 7 651,899 776,573
NET CURRENT ASSETS 221,706 466,592
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,181,270

1,371,563

CREDITORS
Amounts falling due after more than one
year

8

(273,561

)

(398,534

)

PROVISIONS FOR LIABILITIES 10 (237,748 ) (223,108 )
NET ASSETS 669,961 749,921

CAPITAL AND RESERVES
Called up share capital 6,000 6,000
Retained earnings 663,961 743,921
SHAREHOLDERS' FUNDS 669,961 749,921

Daymark Limited (Registered number: 01158843)

Balance Sheet - continued
31 December 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 August 2024 and were signed by:





J M Bird - Director


Daymark Limited (Registered number: 01158843)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Daymark 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Sale of goods - Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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.
Tooling - 15% on cost
Plant and machinery - at varying rates on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

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 Statement of Income and Retained Earnings, 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.


Daymark Limited (Registered number: 01158843)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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 27 (2022 - 27 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
Tooling property machinery
£    £    £   
COST
At 1 January 2023 356,189 47,838 1,813,099
Additions 46,013 - 35,365
At 31 December 2023 402,202 47,838 1,848,464
DEPRECIATION
At 1 January 2023 221,983 47,838 1,160,710
Charge for year 34,712 - 50,736
At 31 December 2023 256,695 47,838 1,211,446
NET BOOK VALUE
At 31 December 2023 145,507 - 637,018
At 31 December 2022 134,206 - 652,389

Daymark Limited (Registered number: 01158843)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 298,674 37,694 465,892 3,019,386
Additions 25,239 - 87,043 193,660
At 31 December 2023 323,913 37,694 552,935 3,213,046
DEPRECIATION
At 1 January 2023 266,973 19,183 397,728 2,114,415
Charge for year 9,802 4,039 39,778 139,067
At 31 December 2023 276,775 23,222 437,506 2,253,482
NET BOOK VALUE
At 31 December 2023 47,138 14,472 115,429 959,564
At 31 December 2022 31,701 18,511 68,164 904,971

5. STOCKS
31.12.23 31.12.22
£    £   
Stocks 285,512 298,362

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 275,746 390,211
Other debtors 60,713 33,797
336,459 424,008

Daymark Limited (Registered number: 01158843)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 146,237 126,976
Trade creditors 328,658 485,634
Taxation and social security 147,385 132,972
Other creditors 29,619 30,991
651,899 776,573

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 273,561 398,534

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 419,798 525,510

Amounts owing on hire purchase/asset finance agreements are secured on the assets concerned.

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 237,748 223,108

Deferred
tax
£   
Balance at 1 January 2023 223,108
Accelerated capital allowances 14,640
Balance at 31 December 2023 237,748

11. OTHER FINANCIAL COMMITMENTS

The company had total commitments under non-cancellable operating leases of £403,833 (2022 - £).471,833

Daymark Limited (Registered number: 01158843)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
J M Bird
Balance outstanding at start of year - -
Amounts advanced 28,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,000 -

The directors overdrawn loan account will be repaid within 9 months of the year end.