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REGISTERED NUMBER: 02988354 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DIE-PAT DIVISIONS LIMITED

DIE-PAT DIVISIONS LIMITED (REGISTERED NUMBER: 02988354)

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


DIE-PAT DIVISIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S J Gleghorn
C L Brander





SECRETARY: C L Brander





REGISTERED OFFICE: The Die-Pat Centre
Broad March
Daventry
Northamptonshire
NN11 4HE





REGISTERED NUMBER: 02988354 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
161 Newhall Street
Birmingham
B3 1SW

DIE-PAT DIVISIONS LIMITED (REGISTERED NUMBER: 02988354)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 143,422 171,370

CURRENT ASSETS
Stocks 798,643 739,819
Debtors 4 2,081,007 1,689,576
Cash at bank - 3,987
2,879,650 2,433,382
CREDITORS
Amounts falling due within one year 5 718,294 536,133
NET CURRENT ASSETS 2,161,356 1,897,249
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,304,778

2,068,619

CREDITORS
Amounts falling due after more than one
year

6

(77,143

)

(118,404

)

PROVISIONS FOR LIABILITIES (34,964 ) (41,755 )
NET ASSETS 2,192,671 1,908,460

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 2,182,671 1,898,460
SHAREHOLDERS' FUNDS 2,192,671 1,908,460

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.

DIE-PAT DIVISIONS LIMITED (REGISTERED NUMBER: 02988354)

BALANCE SHEET - continued
31 DECEMBER 2023


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 16 September 2024 and were signed on its behalf by:





C L Brander - Director


DIE-PAT DIVISIONS LIMITED (REGISTERED NUMBER: 02988354)

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


1. 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.

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 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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - at variable rates on reducing balance
Computer equipment - 33.33% on reducing balance

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

Current and deferred tax
Current tax, including UK corporation tax, is provided at amounts expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and it results as stated in the financial statements that arise from inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expended to apply to the reversal of the timing differences.

Where items recognised in other comprehensive income and equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income.

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.

DIE-PAT DIVISIONS LIMITED (REGISTERED NUMBER: 02988354)

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


1. ACCOUNTING POLICIES - continued

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.

Rental income is received on assets used in operating lease agreements. The income is credited to the profit and loss account 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 20 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 170,301 41,305 66,862 278,468
Additions - - 645 645
At 31 December 2023 170,301 41,305 67,507 279,113
DEPRECIATION
At 1 January 2023 17,224 35,793 54,081 107,098
Charge for year 22,962 1,378 4,253 28,593
At 31 December 2023 40,186 37,171 58,334 135,691
NET BOOK VALUE
At 31 December 2023 130,115 4,134 9,173 143,422
At 31 December 2022 153,077 5,512 12,781 171,370

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 644,858 538,924
Other debtors 1,419,783 1,147,359
Tax 13,073 -
Prepayments and accrued income 3,293 3,293
2,081,007 1,689,576

DIE-PAT DIVISIONS LIMITED (REGISTERED NUMBER: 02988354)

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


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 250,461 214,931
Hire purchase contracts (see note 7) 15,429 15,629
Trade creditors 151,060 131,711
Tax 91,408 19,978
Social security and other taxes 10,455 11,233
VAT 77,200 42,209
Other creditors 20,740 3,903
Amount owed to group companies 87,757 75,852
Accrued expenses 13,784 20,687
718,294 536,133

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 10,000
Bank loans - 2-5 years - 15,833
Hire purchase contracts (see note 7) 77,143 92,571
77,143 118,404

7. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 15,429 15,629
Between one and five years 77,143 92,571
92,572 108,200

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 25,831 84,225
Hire purchase contracts 92,572 108,200
118,403 192,425

Bank loans are secured by way of a fixed and floating charge over the assets of the company.
Hire purchase liabilities are secured against the assets to which they relate.

DIE-PAT DIVISIONS LIMITED (REGISTERED NUMBER: 02988354)

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


9. RELATED PARTY DISCLOSURES

Included within the accounts is a debtor balance relating to a loan made out to a close family member of one of the directors, totalling £38,735.50.

10. PARENT UNDERTAKING

The immediate parent undertaking is Die-Pat Holdings Limited.

The ultimate parent undertaking is Brander-Gleghorn Holdings Limited.