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REGISTERED NUMBER: 02499988 (England and Wales)


























FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

DALMEC LIMITED

DALMEC LIMITED (REGISTERED NUMBER: 02499988)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DALMEC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr C Dallago
Mr D Martini





SECRETARY: Mr C Dallago





REGISTERED OFFICE: 2 Ringway Centre
Edison Road
Basingstoke
Hampshire
RG21 6YH





REGISTERED NUMBER: 02499988 (England and Wales)





AUDITORS: Langdowns DFK Limited
Statutory Auditor
Fleming Court
Leigh Road
Eastleigh
Southampton
Hampshire
SO50 9PD

DALMEC LIMITED (REGISTERED NUMBER: 02499988)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 173,242 107,483

CURRENT ASSETS
Stocks 327,633 284,327
Debtors 6 1,577,596 1,703,448
Cash at bank and in hand 1,994,299 1,283,223
3,899,528 3,270,998
CREDITORS
Amounts falling due within one year 7 2,041,014 1,671,246
NET CURRENT ASSETS 1,858,514 1,599,752
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,031,756

1,707,235

PROVISIONS FOR LIABILITIES 29,688 2,996
NET ASSETS 2,002,068 1,704,239

CAPITAL AND RESERVES
Called up share capital 8 100,000 100,000
Retained earnings 1,902,068 1,604,239
SHAREHOLDERS' FUNDS 2,002,068 1,704,239

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 19th March 2024 and were signed on its behalf by:





Mr C Dallago - Director


DALMEC LIMITED (REGISTERED NUMBER: 02499988)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Dalmec 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities and at the balance sheet date and the amounts reported for turnover and expenses during the year. However, the nature of estimation means that the outcomes could differ from those estimates such as accruals of expenses at the year end.

The company estimates the net realisable value of stock at the end of the reporting period taking into account the age profile of stock and expected demand from customers. The company has made a provision against this balance as required.

Turnover
Turnover includes revenue earned from the provision of goods and services to customers during the year, excluding value added tax, and is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.

Revenue in respect of the sales of machines and consumables is recognised on delivery of the goods to the customer. Revenue in respect of the provision of services, such as repairs and maintenance, is recognised when the work is carried out.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over the remaining term of the lease
Plant and machinery - 25% straight line
Fixtures and fittings - 25% straight line
Motor vehicles - 25% straight line and 20% straight line
Computer equipment - at varying rates on cost

All fixed assets are initially recorded 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.

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.


DALMEC LIMITED (REGISTERED NUMBER: 02499988)

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


3. 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.

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.

Pension costs and other post-retirement benefits
The company contributes to defined contribution pension schemes. Contributions payable to the pension scheme are charged to the income statement in the period to which they relate.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest rate method.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

DALMEC LIMITED (REGISTERED NUMBER: 02499988)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1st January 2023 54,884 72,872 39,858
Additions - 36,928 -
Disposals - (11,413 ) -
At 31st December 2023 54,884 98,387 39,858
DEPRECIATION
At 1st January 2023 51,413 72,872 39,858
Charge for year 3,162 1,702 -
Eliminated on disposal - (11,413 ) -
At 31st December 2023 54,575 63,161 39,858
NET BOOK VALUE
At 31st December 2023 309 35,226 -
At 31st December 2022 3,471 - -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2023 288,191 405,923 861,728
Additions 76,451 4,228 117,607
Disposals (74,810 ) (329,690 ) (415,913 )
At 31st December 2023 289,832 80,461 563,422
DEPRECIATION
At 1st January 2023 194,392 395,710 754,245
Charge for year 40,156 5,197 50,217
Eliminated on disposal (73,179 ) (329,690 ) (414,282 )
At 31st December 2023 161,369 71,217 390,180
NET BOOK VALUE
At 31st December 2023 128,463 9,244 173,242
At 31st December 2022 93,799 10,213 107,483

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,422,900 1,599,807
Other debtors 154,696 103,641
1,577,596 1,703,448

Included in other debtors is £79,826 (2022: £58,143) in relation to prepayments and accrued income.

DALMEC LIMITED (REGISTERED NUMBER: 02499988)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 67,859 71,327
Amounts owed to group undertakings 57,686 286,801
Taxation and social security 407,088 321,090
Other creditors 1,508,381 992,028
2,041,014 1,671,246

Included in other creditors is £297,043 (2022: £23,597) in relation to accruals and deferred income.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100,000 Ordinary £1 100,000 100,000

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

The Report of the Auditors was unqualified.

Ross Garfitt (Senior Statutory Auditor)
for and on behalf of Langdowns DFK Limited

10. OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £39,494 (2022: £35,655). This amount is in relation to operating lease commitments which are payable over the next 2 years (2022: 3 years).

11. RELATED PARTY DISCLOSURES

Dalmec S.p.A
The ultimate parent company.

During the year, Dalmec S.p.A invoiced the company £1,507,913 (2022: £1,278,080) in respect of machines and consumables purchased.

The largest and smallest group which includes the company and for which group financial statements are prepared is Dalmec S.p.A. Group accounts will be available at the registered office address for Dalmec S.p.A, 38023 CLES (Trento) - Italy Via Gramsci, 2.