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REGISTERED NUMBER: 02902484 (England and Wales)














Financial Statements

for the Year Ended 31 December 2023

for

Dynamic Battery Services Limited

Dynamic Battery Services Limited (Registered number: 02902484)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Dynamic Battery Services Limited (Registered number: 02902484)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,187
Tangible assets 5 35,350 34,093
Investments 6 1 1
35,351 36,281

CURRENT ASSETS
Stocks 7 2,603,964 910,653
Debtors 8 1,492,948 1,549,196
Cash at bank and in hand 415,544 300,222
4,512,456 2,760,071
CREDITORS
Amounts falling due within one year 9 2,652,046 902,946
NET CURRENT ASSETS 1,860,410 1,857,125
TOTAL ASSETS LESS CURRENT LIABILITIES 1,895,761 1,893,406

CREDITORS
Amounts falling due after more than one year 10 1,458 3,048
NET ASSETS 1,894,303 1,890,358

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 1,894,203 1,890,258
SHAREHOLDERS' FUNDS 1,894,303 1,890,358

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 7 February 2024 and were signed on its behalf by:





Mr S Henry - Director


Dynamic Battery Services Limited (Registered number: 02902484)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Dynamic Battery Services Limited 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: 02902484

Registered office: Unit 1 Gillibrands Road
East Gillibrands Estate
Skelmersdale
Lancashire
WN8 9TA

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.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, and therefore financial statements have been approved on a going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents invoiced sales less allowances, trade discounts and value added tax. The company operates substantially in one class of business, the supply of batteries and from one geographic location, the United Kingdom.

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.

Intellectual property rights are being amortised evenly over their estimated useful life of three years.

Website creation is being amortised evenly over its estimated useful life of four years.

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 - 20% on cost
Office fixtures and equipment - 20% - 33% on cost
Motor vehicles - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Dynamic Battery Services Limited (Registered number: 02902484)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Operating leases
Payments under operating leases are charged to the profit and loss account 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 11 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Intellectual
property Website
rights creation Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 26,134 8,750 34,884
AMORTISATION
At 1 January 2023 26,134 6,563 32,697
Amortisation for year - 2,187 2,187
At 31 December 2023 26,134 8,750 34,884
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - 2,187 2,187

Dynamic Battery Services Limited (Registered number: 02902484)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Office
fixtures
Plant and and Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 January 2023 50,144 90,902 25,500 166,546
Additions 2,536 815 17,000 20,351
Disposals - - (12,750 ) (12,750 )
At 31 December 2023 52,680 91,717 29,750 174,147
DEPRECIATION
At 1 January 2023 39,263 77,253 15,937 132,453
Charge for year 4,343 5,719 6,641 16,703
Eliminated on disposal - - (10,359 ) (10,359 )
At 31 December 2023 43,606 82,972 12,219 138,797
NET BOOK VALUE
At 31 December 2023 9,074 8,745 17,531 35,350
At 31 December 2022 10,881 13,649 9,563 34,093

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 7,950
DEPRECIATION
At 1 January 2023 3,180
Charge for year 1,590
At 31 December 2023 4,770
NET BOOK VALUE
At 31 December 2023 3,180
At 31 December 2022 4,770

Dynamic Battery Services Limited (Registered number: 02902484)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Imperium Batteries Limited
Registered office: Unit 1, Gillibrands Road, East Gillibrands, Skelmersdale, Lancashire, WN8 9TA
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 715 715

7. STOCKS
2023 2022
£    £   
Stocks 2,603,964 910,653

8. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 1,164,411 1,100,291
Amounts owed by group undertakings - 2,429
Other debtors 27,000 146,113
Prepayments 51,537 50,363
1,242,948 1,299,196

Amounts falling due after more than one year:
Deferred tax 250,000 250,000

Aggregate amounts 1,492,948 1,549,196

Dynamic Battery Services Limited (Registered number: 02902484)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 11) 1,590 1,590
Trade creditors 1,635,320 85,413
Amounts owed to group undertakings 794,087 637,679
Social security and other taxes 204,748 165,509
Accruals 16,301 12,755
2,652,046 902,946

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 11) 1,458 3,048

11. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 1,590 1,590
Between one and five years 1,458 3,048
3,048 4,638

The company rents two premises at annual rentals of £55,000 and £11,000 on on-going leases, all of which can be terminated at three months' notice.

12. CALLED UP SHARE CAPITAL

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

13. RESERVES
Retained
earnings
£   

At 1 January 2023 1,890,258
Profit for the year 3,945
At 31 December 2023 1,894,203

Dynamic Battery Services Limited (Registered number: 02902484)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

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

The Report of the Auditors was unqualified.

Jeremy Bostock BA BFP FCA (Senior Statutory Auditor)
for and on behalf of Thompson Wright Limited

15. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption provided under Financial Reporting Standard 8 not to disclose transactions with related parties as 90% of voting rights are controlled by the Group.

16. ULTIMATE CONTROLLING PARTY

The parent company is Metair International Holdings Co-operatief U.A., incorporated in The Netherlands. The ultimate controlling party is Metair Investments Limited, incorporated in the Republic of South Africa.