IRIS Accounts Production v24.3.0.553 05375270 Board of Directors 1.3.23 29.2.24 29.2.24 true false true true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053752702023-02-28053752702024-02-29053752702023-03-012024-02-29053752702022-02-28053752702022-03-012023-02-28053752702023-02-2805375270ns15:EnglandWales2023-03-012024-02-2905375270ns14:PoundSterling2023-03-012024-02-2905375270ns10:Director12023-03-012024-02-2905375270ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2905375270ns10:FRS1022023-03-012024-02-2905375270ns10:Audited2023-03-012024-02-2905375270ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-03-012024-02-2905375270ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-03-012024-02-2905375270ns10:FullAccounts2023-03-012024-02-290537527012023-03-012024-02-2905375270ns10:OrdinaryShareClass12023-03-012024-02-2905375270ns10:Director22023-03-012024-02-2905375270ns10:Director32023-03-012024-02-2905375270ns10:CompanySecretary12023-03-012024-02-2905375270ns10:RegisteredOffice2023-03-012024-02-2905375270ns5:PriorPeriodIncreaseDecreasens5:RetainedEarningsAccumulatedLosses2022-03-012023-02-2805375270ns5:CurrentFinancialInstruments2024-02-2905375270ns5:CurrentFinancialInstruments2023-02-2805375270ns5:Non-currentFinancialInstruments2024-02-2905375270ns5:Non-currentFinancialInstruments2023-02-2805375270ns5:ShareCapital2024-02-2905375270ns5:ShareCapital2023-02-2805375270ns5:RetainedEarningsAccumulatedLosses2024-02-2905375270ns5:RetainedEarningsAccumulatedLosses2023-02-2805375270ns5:ShareCapital2022-02-2805375270ns5:PreviouslyStatedAmountns5:RetainedEarningsAccumulatedLosses2022-02-2805375270ns5:PreviouslyStatedAmount2022-02-2805375270ns5:PriorPeriodIncreaseDecrease2022-03-012023-02-2805375270ns5:RetainedEarningsAccumulatedLosses2022-02-2805375270ns5:RetainedEarningsAccumulatedLosses2022-03-012023-02-2805375270ns5:RetainedEarningsAccumulatedLosses2023-03-012024-02-2905375270ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-290537527012023-03-012024-02-2905375270ns5:OwnedAssets2023-03-012024-02-2905375270ns5:OwnedAssets2022-03-012023-02-2805375270ns10:OrdinaryShareClass12022-03-012023-02-2805375270ns5:PatentsTrademarksLicencesConcessionsSimilar2023-02-2805375270ns5:PatentsTrademarksLicencesConcessionsSimilar2024-02-2905375270ns5:PatentsTrademarksLicencesConcessionsSimilar2023-02-2805375270ns5:PlantMachinery2023-02-2805375270ns5:MotorVehicles2023-02-2805375270ns5:PlantMachinery2023-03-012024-02-2905375270ns5:MotorVehicles2023-03-012024-02-2905375270ns5:PlantMachinery2024-02-2905375270ns5:MotorVehicles2024-02-2905375270ns5:PlantMachinery2023-02-2805375270ns5:MotorVehicles2023-02-2805375270ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2905375270ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2805375270ns10:OrdinaryShareClass12024-02-2905375270ns5:RetainedEarningsAccumulatedLosses2023-02-28
REGISTERED NUMBER: 05375270 (England and Wales)












Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 29 February 2024

for

Dhiman Enterprises Limited

Dhiman Enterprises Limited (Registered number: 05375270)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Income Statement 11

Other Comprehensive Income 12

Statement of Financial Position 13

Statement of Changes in Equity 14

Statement of Cash Flows 15

Notes to the Statement of Cash Flows 16

Notes to the Financial Statements 17


Dhiman Enterprises Limited

Company Information
for the Year Ended 29 February 2024







Directors: G Dhiman
H Dhiman
N Dhiman





Secretary: M Dhiman





Registered office: Unit 5 Triangle Centre
399 Uxbridge Road
Southall
Middlesex
UB1 3EJ





Registered number: 05375270 (England and Wales)





Auditors: The GKP Partnership
Chiswick Gate
598- 608 Chiswick High Road
London
W4 5RT

Dhiman Enterprises Limited (Registered number: 05375270)

Strategic Report
for the Year Ended 29 February 2024

The directors present their strategic report for the year ended 29 February 2024.

Review of business
The company is a family enterprise that imports a wide range of branded consumer goods for wholesale and retail sales in the UK and European Union. During the year, the company completed the transfer of all of its stock, purchases and sales systems to an integrated technological digital platform utilising Microsoft Dynamics 365. The company remains well-positioned for financial success in 2024 and beyond with diverse revenue streams, commitment to innovation, strong financial reserves, and strategic partnerships to support financial stability and growth potential.

Key performance indicators

In the Year ended 29th February 2024, the company made a profit of £2,288,626 (28th February 2023: £2,379,711). The turnover increased by 1.9%, and there was a decrease in cost of sale resulting in an increase in gross margin from17% in 2023 to 19.5% in 2024.This is due to a slight increase in the price of goods. The directors monitor gross profit margins from continuing activities, as another key performance indicator.

Throughout 2023, the cost of certain raw materials increased as a result of increased inflation and the situation in Ukraine disrupting the general supply chain and leading to some suppliers increasing their prices. The company has since widened its supplier base and steps have been implemented to introduce efficiencies with the intention of maintaining or improving gross margins.


Dhiman Enterprises Limited (Registered number: 05375270)

Strategic Report
for the Year Ended 29 February 2024

Principal risks and uncertainties
The company faces a number of business risks and uncertainties due to trading conditions and new competition. In view of this, the directors are looking carefully at both existing and potential new markets. In particular, this table sets out the key risks that have been identified, with the company's approach to mitigating those risks.


Risk Impact on Company Mitigation

















Supply chain and
economic disruption in
China











Despite the continued loosening of
Covid-19 related restrictions in China,
there remains an increased risk of
supply chain disruptions and wider
economic disruption that may impact
customer demand and margins in the
future, in particular relating to the large
numbers of insolvencies arising in the
Chinese electronics sector in 2023
Responsive action continues to be
taken to widen the supplier base
following disruptions to the supply
chain during national lockdowns;
the company now has a number of
alternative suppliers it could use for
each of its products and
components. The company is
continuing to work closely with its
new and long-standing suppliers to
minimise the risk of future
disruption. The company has a
loyal but diverse customer base,
both in terms of revenue and
concentration, reducing its
exposure to a temporary downturn
in trade. The company has also
introduced enhanced credit review
processes in light of the pandemic
to mitigate the risk of non-payment.







Exposure to foreign
economies
The company only has one overseas
market (the European Union|) at present,
but even these limited sales give rise to
foreign exchange risks. Changing
legislation in other regulations can affect
product specification, as does the effect
of the UK having left the European
Union. More diversity in legislation can
only increase manufacturing costs.




The directors are taking a cautious
approach to expansion into
overseas markets, preferring to
concentrate on consolidating the
domestic position













Macroeconomic
uncertainty in UK







At present, there is an increased level of
macroeconomic uncertainty, including
sustained higher interest rates, cost and
wage inflation. This is starting to impact
on levels of customer demand, risk of
non-payment and a rise in our own
operational costs particularly in relation
to our supply chain
We are actively monitoring the
situation and have contingency
measures in place to manage
these risks which include the
widening of the supplier base and
working with those suppliers to
build relationships and obtain the
best possible prices.The company
has a loyal customer base, which
somewhat reduces its exposure to
a temporary downturn in trade.The
company has also introduced
enhanced credit review processes
to mitigate the risk of
non-payment.++++++

Dhiman Enterprises Limited (Registered number: 05375270)

Strategic Report
for the Year Ended 29 February 2024









Product obsolescence
The industry is fast moving and there are
risks associated with investing too
heavily in a product that then becomes
obsolete. In particular, this can lead to
wasted costs, written off inventory and
opportunity cost of time that could have
been invested in other areas. There is
also a reputational risk in being
associated with out-of-date products




Continuous monitoring of the trade
and popular press as well as
attendance at trade shows allows
identification of trends and
identification of products.++++









New entrants to the
market


The barriers to entry are fairly low, and
new entrants who specialise in only one
item and invest significant capital can
make cost savings, particularly if their
production is based overseas. New
entrants can therefore potentially offer
low selling prices to gain initial market
share, which directly affects sales
The company has a sufficiently
diverse product range to allow
some absorption of issues from
temporary loss of trade.
Development of new products
continues, with effort directed
towards innovation so that the
company's products can be clearly
distinguished from those of
competitors

Future developments
The directors anticipate the business environment will remain competitive. They believe that the company is in a good financial position and that the risks that have been identified are being well managed. With careful focus on appropriate diversification and development of new products, as well as continuing review of the state of the market and the activities of competitors, the directors are confident in the company's ability to maintain and build on this position, albeit with cautious growth expectations

Strategy and objectives
In addition to software improvements in more efficient stock management as well as increasing turnover, the company remains well-prepared for future expansion.
Building on our history of successfully introducing affordable products in the wholesale markets, we are set to launch new offerings to boost our sales in the coming year.

The company faces a number of business risks and uncertainties due to trading conditions and new competition. In view of this, the directors are looking carefully at both existing and potential new markets. In particular, this table sets out the key risks that have been identified, with the company's approach to mitigating those risks.

Risk management

In our commitment to risk management, we ensure sufficient diversification in our supplier base to help ensure our resilience against potential supply chain limitations.

On behalf of the board:





N Dhiman - Director


21 August 2024

Dhiman Enterprises Limited (Registered number: 05375270)

Report of the Directors
for the Year Ended 29 February 2024

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

Principal activity
The principal activity of the company in the year under review was that of a wholesale and retail general commercial company.

Dividends
The directors recommended that no dividend be paid.

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

G Dhiman
H Dhiman
N Dhiman

Going concern
The directors have carefully considered the impact of the wider macroeconomic uncertainty on the company's financial position, liquidity, and future performance. As set out in the strategic report, the company has continued to trade strongly throughout this year and the directors believe that it is experiencing good levels of sales growth and profitability. Therefore, the directors believe that the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements

Statement of directors' responsibilities
The directors are responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Dhiman Enterprises Limited (Registered number: 05375270)

Report of the Directors
for the Year Ended 29 February 2024


Auditors
The auditors, The GKP Partnership, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





N Dhiman - Director


21 August 2024

Report of the Independent Auditors to the Members of
Dhiman Enterprises Limited

Opinion
We have audited the financial statements of Dhiman Enterprises Limited (the 'company') for the year ended 29 February 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 company's affairs as at 29 February 2024 and of its 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 company 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 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the 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 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 Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Dhiman Enterprises Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 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 company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Dhiman Enterprises 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.

Irregularities due to fraud are inherently more difficult to detect, therefore our procedures may be unable to detect all such irregularities.

The extent to which the audit was considered capable of detecting irregularities including fraud.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

-the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities, and skills to identify or recognise non-compliance with applicable laws and regulations.

-we identified the laws and regulations applicable to the company through discussions with directors and the management, and from our commercial knowledge and experience of the distribution and supply sector.

-we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental (including Waste Electrical and Electronic Equipment recycling (WEEE) Regulations 2013) and health and safety legislation.

-we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected, and alleged fraud; and

-considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-performed analytical procedures to identify any unusual or unexpected relationships.

-tested journal entries to identify unusual transactions.

-assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-agreeing financial statement disclosures to underlying supporting documentation.

-reading the minutes of meetings and additional correspondence of those charged with governance.


Report of the Independent Auditors to the Members of
Dhiman Enterprises Limited

-enquiring of management as to actual and potential litigation and claims; and

-reviewing any available correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

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.




Mr Atul Sharma (Senior Statutory Auditor)
for and on behalf of The GKP Partnership
Chiswick Gate
598- 608 Chiswick High Road
London
W4 5RT

21 August 2024

Dhiman Enterprises Limited (Registered number: 05375270)

Income Statement
for the Year Ended 29 February 2024

29.2.24 28.2.23
as restated
Notes £    £   

Turnover 18,474,577 18,129,014

Cost of sales (14,876,479 ) (15,006,418 )
Gross profit 3,598,098 3,122,596

Distribution costs - (26,431 )
Administrative expenses (1,350,853 ) (847,574 )
2,247,245 2,248,591

Other operating income 379 123,483
Operating profit 5 2,247,624 2,372,074

Interest receivable and similar income 41,002 7,637
Profit before taxation 2,288,626 2,379,711

Tax on profit 6 (498,634 ) (451,848 )
Profit for the financial year 1,789,992 1,927,863

Dhiman Enterprises Limited (Registered number: 05375270)

Other Comprehensive Income
for the Year Ended 29 February 2024

29.2.24 28.2.23
as restated
Notes £    £   

Profit for the year 1,789,992 1,927,863


Other comprehensive income - -
Total comprehensive income for the
year

1,789,992
Prior year adjustment 19,931
Total comprehensive income since last
annual report

1,947,794

Dhiman Enterprises Limited (Registered number: 05375270)

Statement of Financial Position
29 February 2024

29.2.24 28.2.23
as restated
Notes £    £   
Fixed assets
Intangible assets 9 495 495
Tangible assets 10 271,867 19,799
272,362 20,294

Current assets
Stocks 11 5,266,877 4,896,778
Debtors 12 4,084,091 3,627,883
Cash at bank and in hand 2,677,498 2,552,594
12,028,466 11,077,255
Creditors
Amounts falling due within one year 13 (641,918 ) (962,254 )
Net current assets 11,386,548 10,115,001
Total assets less current liabilities 11,658,910 10,135,295

Creditors
Amounts falling due after more than one
year

14

(137,970

)

(47,001

)

Provisions for liabilities 16 (242,632 ) (9,978 )
Net assets 11,278,308 10,078,316

Capital and reserves
Called up share capital 17 150 150
Retained earnings 18 11,278,158 10,078,166
Shareholders' funds 11,278,308 10,078,316

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





N Dhiman - Director


Dhiman Enterprises Limited (Registered number: 05375270)

Statement of Changes in Equity
for the Year Ended 29 February 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 March 2022 150 8,680,372 8,680,522
Prior year adjustment - 19,931 19,931
As restated 150 8,700,303 8,700,453

Changes in equity
Dividends - (550,000 ) (550,000 )
Total comprehensive income - 1,927,863 1,927,863
Balance at 28 February 2023 150 10,078,166 10,078,316

Changes in equity
Dividends - (590,000 ) (590,000 )
Total comprehensive income - 1,789,992 1,789,992
Balance at 29 February 2024 150 11,278,158 11,278,308

Dhiman Enterprises Limited (Registered number: 05375270)

Statement of Cash Flows
for the Year Ended 29 February 2024

29.2.24 28.2.23
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,333,965 2,323,202
Tax paid (451,687 ) (451,848 )
Net cash from operating activities 882,278 1,871,354

Cash flows from investing activities
Purchase of tangible fixed assets (300,044 ) (7,342 )
Interest received 41,002 7,637
Net cash from investing activities (259,042 ) 295

Cash flows from financing activities
Amount withdrawn by directors 90,969 (76,463 )
Equity dividends paid (590,000 ) (550,000 )
Net cash from financing activities (499,031 ) (626,463 )

Increase in cash and cash equivalents 124,205 1,245,186
Cash and cash equivalents at
beginning of year

2

2,552,594

1,307,408

Cash and cash equivalents at end of
year

2

2,676,799

2,552,594

Dhiman Enterprises Limited (Registered number: 05375270)

Notes to the Statement of Cash Flows
for the Year Ended 29 February 2024

1. Reconciliation of profit before taxation to cash generated from operations

29.2.24 28.2.23
as restated
£    £   
Profit before taxation 2,288,626 2,379,711
Depreciation charges 47,976 6,598
Finance income (41,002 ) (7,637 )
2,295,600 2,378,672
Increase in stocks (370,099 ) (21,733 )
Increase in trade and other debtors (258,554 ) (112,485 )
(Decrease)/increase in trade and other creditors (332,982 ) 78,748
Cash generated from operations 1,333,965 2,323,202

2. Cash and cash equivalents

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 29 February 2024
29.2.24 1.3.23
£    £   
Cash and cash equivalents 2,677,498 2,552,594
Bank overdrafts (699 ) -
2,676,799 2,552,594
Year ended 28 February 2023
28.2.23 1.3.22
as restated
£    £   
Cash and cash equivalents 2,552,594 1,307,408


3. Analysis of changes in net funds

At 1.3.23 Cash flow At 29.2.24
£    £    £   
Net cash
Cash at bank and in hand 2,552,594 124,904 2,677,498
Bank overdrafts - (699 ) (699 )
2,552,594 124,205 2,676,799
Total 2,552,594 124,205 2,676,799

Dhiman Enterprises Limited (Registered number: 05375270)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. Statutory information

Dhiman Enterprises 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.

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" 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, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when all the following conditions are satisfied:
-the company has transferred to the buyer the significant risks and rewards of ownership of the goods.
-the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold.
-the amount of revenue 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.
Specifically, revenue is recognised when the goods are delivered, and legal title has passed

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 nil years.

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 equipment are stated at cost less accumulated depreciation and accumulated impairment losses.
Depreciation on plant and equipment is charged to profit or loss so as to write off their value, over their estimated useful lives of between 5 and 20 years using the straight-line method.

Assets held under finance leases are depreciated in the same manner as owned assets.

At each balance sheet date, the company reviews the carrying amounts of its property, plant, and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than it carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.
Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Dhiman Enterprises Limited (Registered number: 05375270)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. Accounting policies - continued

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

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the number of inventories recognised as an expense in the period in which the reversal occurs.


Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Cash and cash equivalents.
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

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 or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Dhiman Enterprises Limited (Registered number: 05375270)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. Accounting policies - continued

Foreign currencies
The financial statements are presented in Sterling, which is also the functional currency of the company. Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the statement of comprehensive income. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Hire purchase and leasing commitments
Assets that are held by company under leases which transfer to the company substantially all the risks and rewards of ownership are classified as being held under finance leases. Leases which do not transfer substantially all the risks and rewards of ownership to the company are classified as operating leases.

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Temporary rent concessions granted as a direct consequence of the Covid-19 pandemic are recognised on a systematic basis over the periods that the change in lease payments is intended to compensate. Contingent rentals arising under operating leases are recognised as an expense in the period in which they are incurred. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation, and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Related parties
For the purposes of these financial statements, a party is considered to be related to the company if:
(i)the party has the ability, directly or indirectly, through one or more intermediaries, to control the Company or exercise significant influence over the company in making financial and operating policy decisions or has joint control over the company.
(ii)the company and the party are subject to common control.
(iii)the party is an associate of the company or a joint venture in which the company is a venturer.
(iv)the party is a member of key management personnel of the company or the company's parent, or a close family member of such an individual, or is an entity under the control, joint control, or significant influence of such individuals.
(v)the party is a close family member of a party referred to in (i) or is an entity under the control, joint control, or significant influence of such individuals.
(vi)the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company; or
(vii)the party, or any member of a group of which it is part, provides key management personnel services to the company or its parent.
Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the entity.

Dhiman Enterprises Limited (Registered number: 05375270)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.

4. Employees and directors
29.2.24 28.2.23
as restated
£    £   
Wages and salaries 190,986 178,053
Social security costs 23,800 33,738
Other pension costs 40,646 11,119
255,432 222,910

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

11 11

29.2.24 28.2.23
as restated
£    £   
Directors' remuneration 58,146 58,146

5. Operating profit

The operating profit is stated after charging/(crediting):

29.2.24 28.2.23
as restated
£    £   
Other operating leases 458,682 265,010
Depreciation - owned assets 47,976 6,598
Auditors' remuneration 9,000 9,000
Foreign exchange differences (379 ) (755 )

Dhiman Enterprises Limited (Registered number: 05375270)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
29.2.24 28.2.23
as restated
£    £   
Current tax:
UK corporation tax 498,634 451,848
Tax on profit 498,634 451,848

7. Dividends
29.2.24 28.2.23
as restated
£    £   
Ordinary shares of 1 each
Final 590,000 550,000

8. Prior year adjustment

A prior year adjusment was made in 2023 to correct an overstatement of corporation tax in the year-ended 2022

9. Intangible fixed assets
Patents
and
licences
£   
Cost
At 1 March 2023
and 29 February 2024 495
Net book value
At 29 February 2024 495
At 28 February 2023 495

Dhiman Enterprises Limited (Registered number: 05375270)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

10. Tangible fixed assets
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1 March 2023 81,583 25,765 107,348
Additions 2,127 297,917 300,044
At 29 February 2024 83,710 323,682 407,392
Depreciation
At 1 March 2023 64,364 23,185 87,549
Charge for year 2,901 45,075 47,976
At 29 February 2024 67,265 68,260 135,525
Net book value
At 29 February 2024 16,445 255,422 271,867
At 28 February 2023 17,219 2,580 19,799

11. Stocks
29.2.24 28.2.23
as restated
£    £   
Stocks 5,266,877 4,896,778

12. Debtors: amounts falling due within one year
29.2.24 28.2.23
as restated
£    £   
Trade debtors 2,517,952 2,416,590
Other debtors - 414,768
Loans 811,148 790,263
Prepayments and accrued income 754,991 6,262
4,084,091 3,627,883

13. Creditors: amounts falling due within one year
29.2.24 28.2.23
as restated
£    £   
Bank loans and overdrafts (see note 15) 699 -
Trade creditors 30,193 433,842
Tax 498,756 451,809
Social security and other taxes 2,243 11,905
VAT 30,051 41,237
Other creditors 64,426 8,461
Accrued expenses 15,550 15,000
641,918 962,254

Dhiman Enterprises Limited (Registered number: 05375270)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

14. Creditors: amounts falling due after more than one year
29.2.24 28.2.23
as restated
£    £   
Directors' loan accounts 137,970 47,001

15. Loans

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
as restated
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 699 -

16. Provisions for liabilities
29.2.24 28.2.23
as restated
£    £   
Other provisions 242,632 9,978

17. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: as
restated
£    £   
150 Ordinary 1 150 150

18. Reserves
Retained
earnings
£   

At 1 March 2023 10,078,166
Profit for the year 1,789,992
Dividends (590,000 )
At 29 February 2024 11,278,158

19. Related party disclosures

Dhiman Enterprises Ltd leased a warehouse from Dhiman Real Estate Ltd for £420,000 per annum.
Dhiman Real Estates Ltd is a business owned by the Directors and shareholders of Dhiman Enterprises Ltd.

Dhiman Enterprises Ltd has pledged a guarantee of £3,412,500 to secure Dhiman Estates Ltd.'s loan with Nat west Bank Plc.