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REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DALE (MANSFIELD) LIMITED

DALE (MANSFIELD) LIMITED (REGISTERED NUMBER: 02858338)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 4


DALE (MANSFIELD) LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mr D B J Guilor
Mr I J Guilor
Mr A D Guilor





SECRETARY: Mr A D Guilor





REGISTERED OFFICE: Rotherham Road
New Houghton
Nottinghamshire
NG19 8TF





REGISTERED NUMBER: 02858338 (England and Wales)





ACCOUNTANTS: Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

DALE (MANSFIELD) LIMITED (REGISTERED NUMBER: 02858338)

REPORT OF THE DIRECTORS
for the year ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision of a complete engineering service incorporating the design and manufacture of hydraulic cylinders and other products for steel processing, defence, mining and marine industries.

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

Mr D B J Guilor
Mr I J Guilor
Mr A D Guilor

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr D B J Guilor - Director


12 August 2024

DALE (MANSFIELD) LIMITED (REGISTERED NUMBER: 02858338)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,002,136 1,061,122

CURRENT ASSETS
Stocks 293,893 497,809
Debtors 6 321,307 415,536
Cash at bank 1,846 17,903
617,046 931,248
CREDITORS
Amounts falling due within one year 7 1,205,944 1,357,463
NET CURRENT LIABILITIES (588,898 ) (426,215 )
TOTAL ASSETS LESS CURRENT LIABILITIES 413,238 634,907

CREDITORS
Amounts falling due after more than one year 8 18,334 28,333
NET ASSETS 394,904 606,574

CAPITAL AND RESERVES
Called up share capital 600,000 600,000
Revaluation reserve 10 536,648 554,396
Retained earnings (741,744 ) (547,822 )
SHAREHOLDERS' FUNDS 394,904 606,574

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 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.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:





Mr A D Guilor - Director


DALE (MANSFIELD) LIMITED (REGISTERED NUMBER: 02858338)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Dale (Mansfield) 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 company's working capital requirements are financed by an invoice discounting facility from Lloyds bank and a bounce back loan from Bank Of Scotland.

The directors consider that it is reasonable to rely on the continued financial support from these sources and additional support from the shareholders.

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.
Land and buildings - Straight line over 50 years
Plant and machinery etc - Straight line over 10 years, Straight line over 5 years and Straight line over 4 years

Land is not depreciated.

From transition to FRS102 the company has discontinued the policy of periodic revaluation of its freehold properly, the valuation at transition being treated as deemed cost.

Stocks
Stock 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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Stocks are valued on the FIFO basis.

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.


DALE (MANSFIELD) LIMITED (REGISTERED NUMBER: 02858338)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2022 - 41 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 1,200,000 1,961,840 3,161,840
Additions - 7,325 7,325
Disposals - (3,750 ) (3,750 )
At 31 December 2023 1,200,000 1,965,415 3,165,415
DEPRECIATION
At 1 January 2023 270,256 1,830,462 2,100,718
Charge for year 25,536 40,775 66,311
Eliminated on disposal - (3,750 ) (3,750 )
At 31 December 2023 295,792 1,867,487 2,163,279
NET BOOK VALUE
At 31 December 2023 904,208 97,928 1,002,136
At 31 December 2022 929,744 131,378 1,061,122

Included in cost of land and buildings is freehold land of £ 400,000 (2022 - £ 400,000 ) which is not depreciated.

The company has previously had a policy of revaluing its freehold land and property. On transition to FRS102 on 1st January 2014 this policy was discontinued and the property's fair value at that time treated as its deemed cost.
The historic cost of this property was £366,287 which included land amounting to £122,096.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 260,734 392,487
Other debtors 60,573 23,049
321,307 415,536

DALE (MANSFIELD) LIMITED (REGISTERED NUMBER: 02858338)

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
£    £   
Bank loans and overdrafts 218,516 388,278
Trade creditors 485,537 697,577
Taxation and social security 93,946 48,948
Other creditors 407,945 222,660
1,205,944 1,357,463

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 18,334 28,333

The company has taken out a Business Bounce Back Loan of £50,000. There is no security held against the company under the loan.

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 208,516 378,278

The facility is secured by a legal charge over the company's property and a fixed and floating charge over it's assets.

10. RESERVES
Revaluation
reserve
£   
At 1 January 2023 554,396
Transfer to profit and loss (17,748 )

At 31 December 2023 536,648

Called up share capital represents the nominal value of shares that have been issued.

Profit and loss account includes all current and prior period retained profits and losses.

11. OTHER FINANCIAL COMMITMENTS

The company has given security in the form of a debenture over it's assets in respect of the bank borrowings of it's parent company, Regent Formations Limited.

12. ULTIMATE CONTROLLING PARTY

There is no overall ultimate controlling party.