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REGISTERED NUMBER: 08051521 (England and Wales)















Domin Limited

Unaudited Financial Statements for the Year Ended 31 May 2024






Domin Limited (Registered number: 08051521)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Domin Limited

Company Information
for the year ended 31 May 2024







DIRECTORS: A Collins
M Pont
M L Green
S L Jones
N M Fraser





REGISTERED OFFICE: 33 Colston Avenue
Bristol
BS1 4UA





REGISTERED NUMBER: 08051521 (England and Wales)





ACCOUNTANTS: Webb & Co Ltd
Accountants and Business Advisers
One New Street
Wells
Somerset
BA5 2LA

Domin Limited (Registered number: 08051521)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 325,539 276,202
Tangible assets 5 2,179,987 888,685
Investments 6 1,000 1,000
2,506,526 1,165,887

CURRENT ASSETS
Stocks 319,036 271,616
Debtors 7 1,544,026 1,215,768
Cash at bank and in hand 10,976,798 2,178,458
12,839,860 3,665,842
CREDITORS
Amounts falling due within one year 8 742,069 475,822
NET CURRENT ASSETS 12,097,791 3,190,020
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,604,317

4,355,907

CREDITORS
Amounts falling due after more than one
year

9

1,035,038

50,543
NET ASSETS 13,569,279 4,305,364

CAPITAL AND RESERVES
Called up share capital 12 9,999 8,278
Share premium 21,596,423 9,000,762
Capital redemption reserve 5,257 5,257
Retained earnings (8,042,400 ) (4,708,933 )
SHAREHOLDERS' FUNDS 13,569,279 4,305,364

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Domin Limited (Registered number: 08051521)

Balance Sheet - continued
31 May 2024


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 3 September 2024 and were signed on its behalf by:





M Pont - Director


Domin Limited (Registered number: 08051521)

Notes to the Financial Statements
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Domin 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. 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.

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:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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 - 20% on cost
Plant and machinery - 100% on cost, 33.3% on cost and 20% on cost
Fixtures and fittings - 20% on cost

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

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

Stocks
Stocks 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 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.


Domin Limited (Registered number: 08051521)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
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 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 56 (2023 - 40 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 June 2023 508,928
Additions 107,530
At 31 May 2024 616,458
AMORTISATION
At 1 June 2023 232,726
Amortisation for year 58,193
At 31 May 2024 290,919
NET BOOK VALUE
At 31 May 2024 325,539
At 31 May 2023 276,202

Domin Limited (Registered number: 08051521)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 June 2023 24,883 907,018 214,648 1,146,549
Additions 33,864 1,671,929 151,463 1,857,256
Disposals - (28,636 ) - (28,636 )
At 31 May 2024 58,747 2,550,311 366,111 2,975,169
DEPRECIATION
At 1 June 2023 5,684 215,233 36,947 257,864
Charge for year 11,749 480,983 73,222 565,954
Eliminated on disposal - (28,636 ) - (28,636 )
At 31 May 2024 17,433 667,580 110,169 795,182
NET BOOK VALUE
At 31 May 2024 41,314 1,882,731 255,942 2,179,987
At 31 May 2023 19,199 691,785 177,701 888,685

6. FIXED ASSET INVESTMENTS
Share in
group
under-
takings
£   
COST
At 1 June 2023
and 31 May 2024 1,000
NET BOOK VALUE
At 31 May 2024 1,000
At 31 May 2023 1,000

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

Domin Production SP.Z.O.O
Registered office: Wojska Polskiego 20, 39-300 Mielec, Poland.
Nature of business:
%
Class of shares: holding
Oridinary 100.00

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 250,148 276,448
Other debtors 1,293,878 939,320
1,544,026 1,215,768

Domin Limited (Registered number: 08051521)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,247 9,994
Hire purchase contracts (see note 10) 271,158 13,750
Trade creditors 257,540 128,068
Taxation and social security 91,790 55,102
Other creditors 111,334 268,908
742,069 475,822

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,506 20,752
Hire purchase contracts (see note 10) 1,024,532 29,791
1,035,038 50,543

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 271,158 13,750
Between one and five years 1,024,532 29,791
1,295,690 43,541

Non-cancellable operating leases
2024 2023
£    £   
Within one year 292,586 145,650
Between one and five years 924,703 439,900
1,217,289 585,550

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 1,295,690 43,541

Domin Limited (Registered number: 08051521)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
999,916 Ordinary A 1p 9,999 8,278