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REGISTERED NUMBER: 10059074 (England and Wales)












GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

DSS GROUP LIMITED

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 14

Consolidated Statement of Changes in Equity 16

Company Statement of Changes in Equity 17

Consolidated Cash Flow Statement 18

Notes to the Consolidated Cash Flow Statement 19

Notes to the Consolidated Financial Statements 21


DSS GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr R Wylie
Mr G Townsley
Mrs S L Townsley



SECRETARY: Mr A R Wykes



REGISTERED OFFICE: M&D House
Brooklands Road
Adwick Le Street
Doncaster
South Yorkshire
DN6 7BA



REGISTERED NUMBER: 10059074 (England and Wales)



SENIOR STATUTORY AUDITOR: Robert Watson FCA



AUDITORS: Gibson Booth Limited
Statutory Auditor
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 29 FEBRUARY 2024

The directors present their strategic report of the company and the group for the year ended 29 February 2024.

REVIEW OF BUSINESS ACTIVITIES AND KEY PERFORMANCE INDICATORS
Trading results have seen a downturn this year with turnover falling by 8.4% compared to 2023 results.

Gross profit has also decreased from 30.6% in 2023 to 28.6% this year. In common with many businesses, gross profit has been affected by the inflationary pressures on consumable materials in particular. Despite this, the company has shown strong results for the year ended 28 February 2024.

Establishment costs have increased by 15.6% as a direct result of higher business insurance premiums in the current year.

Administration expenses have fallen by 8.8% this year. Motor, haulage, legal and professional costs and bad debts saw the most significant reductions in the year.

Profit before tax decreased by 37.1% this year.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors take a pragmatic view with respect to risk management. The company is well managed by its board of directors and a prudent approach is adopted in all financial aspects.

All company policies are subject to continual assessment and review in line with changing legislation and industry guidelines.

The directors remain mindful of cyclical trends and the overarching political backdrop of the construction industry. Inflationary pressures continue to be monitored and mitigated but nevertheless present ongoing risks and uncertainties across all market sectors including the construction industry.

As with all companies within the industry the company is subject to bad debt and financial risk. The company has improved its measures at the contract stage and has implemented stronger credit control procedures. The company also invests in capital expenditure strategically to avoid significant impact on cashflow.

The company is maintaining strong reserves to mitigate any risk of a downturn in productivity during the latter summer months and into winter due to increased interest rates and associated economic impact on housing market.


DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 29 FEBRUARY 2024

KEY PERFORMANCE INDICATORS
The company monitors its performance using a number of measures.

These include key performance indicators for gross profit margin, direct labour as a percentage of turnover and EBIT. KPI's are regularly monitored by the board.

During the year to 28 February 2024, gross profit margins remained consistent returning to levels prior to 2022. The consistent gross profit margin, turnover, establishment and admin costs has consequently resulted in a healthy EBIT. Management are happy with the current year results and are expecting the strong results to continue.

FUTURE
The market conditions present during the year have continued post year end. Such conditions include price increases for materials, procurement delays and staff absences all of which are being managed. Tender pricing models are being monitored and updated where necessary, within achievable tendering parameters, to minimise the effect on profits.

The company continues to perform well and is achieving its objectives which includes winning new tenders. In the mid to short term, business is expected to stay at a consistent level.

The board of directors continue to invest in long-term infrastructure to expand their diverse portfolio of piling equipment, with the intention to further drive cost efficiencies long-term.

ON BEHALF OF THE BOARD:





Mr R Wylie - Director


30 August 2024

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 29 FEBRUARY 2024

The directors present their report with the financial statements of the company and the group for the year ended 29 February 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of specialist foundation and piling services.

DIVIDENDS
Interim dividends per share were paid during the year as follows:
A Ordinary Shares £1 - £2573.3333
B Ordinary Shares £1 - £333.33
C Ordinary Shares £1 - £1666.66
D Ordinary Shares £1 - £333.33
E Ordinary Shares £1 - 512.42
F Ordinary Shares £1 - £1666.67
G Ordinary shares £1 - £144.93
H Ordinary shares £1 - £333.33
I Ordinary shares £1 - £3860.6666
K Ordinary shares £1 - £1133.33

The total distribution of dividends for the year ended 29 February 2024 will be £ 877,100 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2023 to the date of this report.

Mr R Wylie
Mr G Townsley
Mrs S L Townsley


DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 29 FEBRUARY 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Gibson Booth Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr R Wylie - Director


30 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DSS GROUP LIMITED

Opinion
We have audited the financial statements of DSS Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 29 February 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 29 February 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DSS GROUP LIMITED


Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DSS GROUP LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We design audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to the Companies Act 2006. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DSS GROUP LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Robert Watson FCA (Senior Statutory Auditor)
for and on behalf of Gibson Booth Limited
Statutory Auditor
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

30 August 2024

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   

TURNOVER 4 20,033,116 21,862,539

Cost of sales 14,297,719 15,181,640
GROSS PROFIT 5,735,397 6,680,899

Administrative expenses 4,595,793 4,895,346
1,139,604 1,785,553

Other operating income 13,957 33,570
OPERATING PROFIT 6 1,153,561 1,819,123

Interest receivable and similar income 27,996 299
1,181,557 1,819,422

Interest payable and similar expenses 8 75,072 60,754
PROFIT BEFORE TAXATION 1,106,485 1,758,668

Tax on profit 9 350,934 554,494
PROFIT FOR THE FINANCIAL YEAR 755,551 1,204,174
Profit attributable to:
Owners of the parent 620,895 1,127,499
Non-controlling interests 134,656 76,675
755,551 1,204,174

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   

PROFIT FOR THE YEAR 755,551 1,204,174


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

755,551

1,204,174

Total comprehensive income attributable to:
Owners of the parent 620,895 1,127,499
Non-controlling interests 134,656 76,675
755,551 1,204,174

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

CONSOLIDATED BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 711,655 1,021,670
Tangible assets 13 2,955,615 3,165,517
Investments 14 - -
3,667,270 4,187,187

CURRENT ASSETS
Stocks 15 135,701 210,473
Debtors 16 3,627,092 4,257,066
Cash at bank 1,160,425 1,034,998
4,923,218 5,502,537
CREDITORS
Amounts falling due within one year 17 2,932,604 3,398,983
NET CURRENT ASSETS 1,990,614 2,103,554
TOTAL ASSETS LESS CURRENT LIABILITIES 5,657,884 6,290,741

CREDITORS
Amounts falling due after more than one
year

18

(441,243

)

(789,057

)

PROVISIONS FOR LIABILITIES 22 (522,199 ) (552,693 )
NET ASSETS 4,694,442 4,948,991

CAPITAL AND RESERVES
Called up share capital 23 1,500 1,500
Share premium 24 1,891,669 1,891,669
Other reserves 24 8,800 8,800
Retained earnings 24 2,797,289 3,053,494
SHAREHOLDERS' FUNDS 4,699,258 4,955,463

NON-CONTROLLING INTERESTS (4,816 ) (6,472 )
TOTAL EQUITY 4,694,442 4,948,991

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

CONSOLIDATED BALANCE SHEET - continued
29 FEBRUARY 2024


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




Mr R Wylie - Director Mrs S L Townsley - Director




Mr G Townsley - Director


DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

COMPANY BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 - -
Tangible assets 13 - -
Investments 14 8,633,672 8,633,672
8,633,672 8,633,672

CURRENT ASSETS
Debtors 16 1,170 1,170
Cash at bank - 38,638
1,170 39,808
CREDITORS
Amounts falling due within one year 17 6,735,322 6,558,900
NET CURRENT LIABILITIES (6,734,152 ) (6,519,092 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,899,520 2,114,580

CREDITORS
Amounts falling due after more than one
year

18

-

219,059
NET ASSETS 1,899,520 1,895,521

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

COMPANY BALANCE SHEET - continued
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 23 1,500 1,500
Share premium 24 1,891,669 1,891,669
Retained earnings 24 6,351 2,352
SHAREHOLDERS' FUNDS 1,899,520 1,895,521

Company's profit for the financial year 881,099 800,236


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




Mr R Wylie - Director Mrs S L Townsley - Director




Mr G Townsley - Director


DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 March 2022 1,500 2,757,661 1,891,669

Changes in equity
Dividends - (831,666 ) -
Total comprehensive income - 1,127,499 -
Balance at 28 February 2023 1,500 3,053,494 1,891,669

Changes in equity
Dividends - (877,100 ) -
Total comprehensive income - 620,895 -
Balance at 29 February 2024 1,500 2,797,289 1,891,669
Other Non-controlling Total
reserves Total interests equity
£    £    £    £   
Balance at 1 March 2022 8,800 4,659,630 (13,647 ) 4,645,983

Changes in equity
Dividends - (831,666 ) (69,500 ) (901,166 )
Total comprehensive income - 1,127,499 76,675 1,204,174
Balance at 28 February 2023 8,800 4,955,463 (6,472 ) 4,948,991

Changes in equity
Dividends - (877,100 ) (133,000 ) (1,010,100 )
Total comprehensive income - 620,895 134,656 755,551
Balance at 29 February 2024 8,800 4,699,258 (4,816 ) 4,694,442

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 March 2022 1,500 33,784 1,891,669 1,926,953

Changes in equity
Dividends - (831,668 ) - (831,668 )
Total comprehensive income - 800,236 - 800,236
Balance at 28 February 2023 1,500 2,352 1,891,669 1,895,521

Changes in equity
Dividends - (877,100 ) - (877,100 )
Total comprehensive income - 881,099 - 881,099
Balance at 29 February 2024 1,500 6,351 1,891,669 1,899,520

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,583,770 2,710,818
Interest paid (42,859 ) (32,924 )
Interest element of hire purchase
payments paid

(32,213

)

(27,830

)
Tax paid (494,330 ) (143,332 )
Net cash from operating activities 2,014,368 2,506,732

Cash flows from investing activities
Purchase of tangible fixed assets (534,593 ) (33,905 )
Sale of tangible fixed assets 119,411 3,337
Interest received 27,996 299
Net cash from investing activities (387,186 ) (30,269 )

Cash flows from financing activities
Bank loan capital repayments (751,915 ) (481,677 )
Capital repayments in year (49,832 ) (601,515 )
Net amounts introduced by directors 310,092 19,797
Equity dividends paid (877,100 ) (831,666 )
Dividends paid to minority interests (133,000 ) (69,500 )
Net cash from financing activities (1,501,755 ) (1,964,561 )

Increase in cash and cash equivalents 125,427 511,902
Cash and cash equivalents at beginning
of year

2

1,034,998

523,096

Cash and cash equivalents at end of
year

2

1,160,425

1,034,998

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
29.2.24 28.2.23
£    £   
Profit before taxation 1,106,485 1,758,668
Depreciation charges 930,494 1,013,868
Loss on disposal of fixed assets 4,604 3,083
Finance costs 75,072 60,754
Finance income (27,996 ) (299 )
2,088,659 2,836,074
Decrease in stocks 74,772 8,440
Decrease/(increase) in trade and other debtors 433,867 (234,206 )
(Decrease)/increase in trade and other creditors (13,528 ) 100,510
Cash generated from operations 2,583,770 2,710,818

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 29 February 2024
29.2.24 1.3.23
£    £   
Cash and cash equivalents 1,160,425 1,034,998
Year ended 28 February 2023
28.2.23 1.3.22
£    £   
Cash and cash equivalents 1,034,998 523,096


DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.3.23 Cash flow At 29.2.24
£    £    £   
Net cash
Cash at bank 1,034,998 125,427 1,160,425
1,034,998 125,427 1,160,425
Debt
Finance leases (1,030,170 ) 49,832 (980,338 )
Debts falling due within 1 year (532,856 ) 532,856 -
Debts falling due after 1 year (219,059 ) 219,059 -
(1,782,085 ) 801,747 (980,338 )
Total (747,087 ) 927,174 180,087

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

DSS Group 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 General Information page.

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" and the Companies Act 2006. The financial statements are prepared in sterling which is the functional currency of the entity and rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements have been set out below.

3. ACCOUNTING POLICIES

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

Basis of consolidation
The consolidated financial statements comprise the results of the parent company; DSS Group Limited and its subsidiary; Bessacarr Properties Limited together with its subsidiaries; M & D Foundations & Building Services Limited, M & D Foundations Eastern Limited and M & D Foundations (Midlands) Limited.

Significant judgements and estimates
No judgements have been made in the process of applying the below policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the value of the work performed.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold property - 2% on cost
Plant and machinery - 20%/25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Freehold land (included within freehold property) is not depreciated.

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

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.


DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Debtors receivable and creditors payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

5. EMPLOYEES AND DIRECTORS
29.2.24 28.2.23
£    £   
Wages and salaries 3,268,853 3,314,979
Social security costs 410,405 358,112
Other pension costs 172,507 64,829
3,851,765 3,737,920

The average number of employees during the year was as follows:
29.2.24 28.2.23

Directors 3 3
Administrative and office staff 29 29
Site and yard staff 48 50
80 82

29.2.24 28.2.23
£    £   
Directors' remuneration 417,451 38,357
Directors' pension contributions to money purchase schemes 105,361 110

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 3 3

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. EMPLOYEES AND DIRECTORS - continued

Information regarding the highest paid director for the year ended 29 February 2024 is as follows:
29.2.24
£   
Emoluments etc 16,695
Pension contributions to money purchase schemes 100,000

6. OPERATING PROFIT

The operating profit is stated after charging:

29.2.24 28.2.23
£    £   
Hire of plant and machinery 629,838 687,757
Depreciation - owned assets 258,348 339,521
Depreciation - assets on hire purchase contracts 362,132 364,332
Loss on disposal of fixed assets 4,604 3,083
Goodwill amortisation 310,015 310,014

7. AUDITORS' REMUNERATION

28.2.23 28.2.22
£    £   
Fees payable to the company's auditors for the of the
company's and consolidated financial statements


1,500


2,000
Auditors' remuneration for other services 30,900 29,350

8. INTEREST PAYABLE AND SIMILAR EXPENSES
29.2.24 28.2.23
£    £   
Bank loan interest 42,859 32,924
Hire purchase 32,213 27,830
75,072 60,754

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
29.2.24 28.2.23
£    £   
Current tax:
UK corporation tax 381,493 374,691
Under / (over) provision of
tax (65 ) 239
Total current tax 381,428 374,930

Deferred tax (30,494 ) 179,564
Tax on profit 350,934 554,494

UK corporation tax has been charged at 25 % (2023 - 19 %).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

29.2.24 28.2.23
£    £   
Profit before tax 1,106,485 1,758,668
Profit multiplied by the standard rate of corporation tax in the UK of
24.491 % (2023 - 19 %)

270,989

334,147

Effects of:
Expenses not deductible for tax purposes 1,476 1,100
Capital allowances in excess of depreciation - (20,045 )
Depreciation in excess of capital allowances 31,974 -
Adjustments to tax charge in respect of previous periods (65 ) 239
Amortisation of goodwill 75,926 58,903
Profit/loss on disposal of fixed assets 1,128 586
Deferred taxation (30,494 ) 179,564
Total tax charge 350,934 554,494

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

10. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


11. DIVIDENDS
29.2.24 28.2.23
£    £   
A Ordinary Shares shares of £1 each
Interim 193,000 85,000
B Ordinary Shares shares of £1 each
Interim 25,000 91,665
C Ordinary Shares shares of £1 each
Interim 25,000 91,667
D Ordinary Shares shares of £1 each
Interim 25,000 91,667
E Ordinary Shares shares of £1 each
Interim 84,550 85,000
F Ordinary Shares shares of £1 each
Interim 25,000 91,667
G Ordinary shares shares of £1 each
Interim 100,000 100,000
H Ordinary shares shares of £1 each
Interim 25,000 25,000
I Ordinary shares shares of £1 each
Interim 289,550 85,000
K Ordinary shares shares of £1 each
Interim 85,000 85,000
877,100 831,666

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

12. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 3,100,149
AMORTISATION
At 1 March 2023 2,078,479
Amortisation for year 310,015
At 29 February 2024 2,388,494
NET BOOK VALUE
At 29 February 2024 711,655
At 28 February 2023 1,021,670

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

13. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2023 1,108,288 5,324,007 158,268
Additions - 101,083 18,823
Disposals - - -
At 29 February 2024 1,108,288 5,425,090 177,091
DEPRECIATION
At 1 March 2023 301,601 3,597,115 103,014
Charge for year 17,682 442,583 13,997
Eliminated on disposal - - -
At 29 February 2024 319,283 4,039,698 117,011
NET BOOK VALUE
At 29 February 2024 789,005 1,385,392 60,080
At 28 February 2023 806,687 1,726,892 55,254

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

13. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 1,418,732 818 8,010,113
Additions 414,687 - 534,593
Disposals (499,749 ) - (499,749 )
At 29 February 2024 1,333,670 818 8,044,957
DEPRECIATION
At 1 March 2023 842,048 818 4,844,596
Charge for year 146,218 - 620,480
Eliminated on disposal (375,734 ) - (375,734 )
At 29 February 2024 612,532 818 5,089,342
NET BOOK VALUE
At 29 February 2024 721,138 - 2,955,615
At 28 February 2023 576,684 - 3,165,517

Included in the cost of freehold property is freehold land of £200,000 which is not depreciated.

Included within the net book value above of £2,955,616 (2023: £3,165,516) is £1,479,367 (2023: £1,273,720) relating to assets held under hire purchase agreements. The depreciation charged on these assets during the year was £362,132 (2023: £364,332).

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

14. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 8,633,672
NET BOOK VALUE
At 29 February 2024 8,633,672
At 28 February 2023 8,633,672

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

Subsidiaries

Bessacarr Properties Limited
Registered office: M & D House, Brooklands Road,Adwick Le Street, Doncaster, DN6 7BA
Nature of business: Rental of plant and equipment
%
Class of shares: holding
Ordinary Shares 100.00

M & D Foundations & Building Services Limited
Registered office: M & D House, Brooklands Road, Adwick Le Street, Doncaster, DN6 7BA
Nature of business: Specialist foundation and piling services
%
Class of shares: holding
Ordinary 100.00

M & D Foundations (Midlands) Limited
Registered office: M & D House, Brooklands Road, Adwick Le Street, Doncaster, DN6 7BA
Nature of business: Specialist foundation and piling services
%
Class of shares: holding
Ordinary 75.00

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

14. FIXED ASSET INVESTMENTS - continued

M & D Foundations Eastern Limited
Registered office: M & D House, Brooklands Road, Adwick Le Street, Doncaster, DN6 7BA
Nature of business: Specialist foundation and piling services
%
Class of shares: holding
Ordinary 88.00


The consolidated financial statements comprise the results of the parent company: DSS Group Limited and its subsidiary; Bessacarr Properties Limited together with its subsidiaries; M & D Foundations & Building Services Limited, M & D Foundations Eastern Limited and M & D Foundations (Midlands) Limited.

15. STOCKS

Group
29.2.24 28.2.23
£    £   
Stocks 135,701 210,473

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
29.2.24 28.2.23 29.2.24 28.2.23
£    £    £    £   
Trade debtors 2,791,713 3,468,285 - -
Amounts recoverable on contract 551,743 327,785 - -
Other debtors 20,440 8,749 - -
Directors' current accounts 1 2,988 - -
VAT 141,035 334,157 - -
Called up share capital not paid 1,170 1,170 1,170 1,170
Prepayments and accrued income 120,990 113,932 - -
3,627,092 4,257,066 1,170 1,170

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
29.2.24 28.2.23 29.2.24 28.2.23
£    £    £    £   
Bank loans and overdrafts (see note 19) - 532,856 - 532,856
Hire purchase contracts (see note 20) 539,095 460,172 - -
Trade creditors 1,128,209 1,283,675 - -
Amounts owed to group undertakings - - 6,733,322 6,024,044
Corporation tax 201,807 314,709 - -
Social security and other taxes 96,371 85,337 - -
Other creditors 86,195 99,858 - -
Directors' current accounts 330,480 23,376 - -
Accruals and deferred income 550,447 599,000 2,000 2,000
2,932,604 3,398,983 6,735,322 6,558,900

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
29.2.24 28.2.23 29.2.24 28.2.23
£    £    £    £   
Bank loans (see note 19) - 219,059 - 219,059
Hire purchase contracts (see note 20) 441,243 569,998 - -
441,243 789,057 - 219,059

19. LOANS

An analysis of the maturity of loans is given below:

Group Company
29.2.24 28.2.23 29.2.24 28.2.23
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans - 532,856 - 532,856
Amounts falling due between one and two years:
Bank loans - 1-2 years - 219,059 - 219,059

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
29.2.24 28.2.23
£    £   
Gross obligations repayable:
Within one year 581,809 490,603
Between one and five years 481,098 613,669
1,062,907 1,104,272

Finance charges repayable:
Within one year 42,714 30,431
Between one and five years 39,855 43,671
82,569 74,102

Net obligations repayable:
Within one year 539,095 460,172
Between one and five years 441,243 569,998
980,338 1,030,170

Group
Non-cancellable operating leases
29.2.24 28.2.23
£    £   
Within one year 147,251 101,880
Between one and five years 249,562 14,438
396,813 116,318

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

21. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
29.2.24 28.2.23 29.2.24 28.2.23
£    £    £    £   
Bank loans - 751,915 - 751,915
Hire purchase contracts 980,338 1,030,170 - -
980,338 1,782,085 - 751,915

Bank loans are secured by;

A debenture including a fixed charge over all present freehold and leasehold property; first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and first floating charge over all assets and undertaking both present and future.

A first legal charge over freehold property, Brooklands Road, Carcroft.

A composite company unlimited multilateral guarantee given by DSS Group Limited, Bessacarr Properties Limited, M & D Foundations & Building Services Limited, M & D Foundations (Midlands) Limited and M & D Foundations Eastern Limited.

Hire purchase liabilities are secured on the assets concerned. Interest is charged at normal commercial rates.

22. PROVISIONS FOR LIABILITIES

Group
29.2.24 28.2.23
£    £   
Deferred tax 522,199 552,693

Group
Deferred
tax
£   
Balance at 1 March 2023 552,693
Credit to Income Statement during year (30,494 )
Balance at 29 February 2024 522,199

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
75 A Ordinary Shares £1 75 75
75 B Ordinary Shares £1 75 75
15 C Ordinary Shares £1 15 15
75 D Ordinary Shares £1 75 75
165 E Ordinary Shares £1 165 165
15 F Ordinary Shares £1 15 15
420 420

Allotted and issued:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
690 G Ordinary Shares £1 690 690
75 H Ordinary Shares £1 75 75
75 I Ordinary Shares £1 75 75
165 J Ordinary Shares £1 165 165
75 K Ordinary Shares £1 75 75
1,080 1,080

24. RESERVES

Group
Retained Share Other
earnings premium reserves Totals
£    £    £    £   

At 1 March 2023 3,053,494 1,891,669 8,800 4,953,963
Profit for the year 620,895 620,895
Dividends (877,100 ) (877,100 )
At 29 February 2024 2,797,289 1,891,669 8,800 4,697,758

DSS GROUP LIMITED (REGISTERED NUMBER: 10059074)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

24. RESERVES - continued

Company
Retained Share
earnings premium Totals
£    £    £   

At 1 March 2023 2,352 1,891,669 1,894,021
Profit for the year 881,099 881,099
Dividends (877,100 ) (877,100 )
At 29 February 2024 6,351 1,891,669 1,898,020