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Registered number: 10389692









ACCLAIM DMW HOLDINGS LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Directors
C F Swift 
S D Woods 




Registered number
10389692



Registered office
Ellisam House
Purfleet Industrial Park

Purfleet

Essex

RM15 4YD




Independent auditors
Barnes Roffe LLP
Chartered Accountants & Statutory Auditor

Charles Lake House

Claire Causeway

Crossways Business Park

Dartford

Kent

DA2 6QA





 
ACCLAIM DMW HOLDINGS LIMITED
 

CONTENTS



Page
Group strategic report
 
1
Directors' report
 
2 - 3
Independent auditors' report
 
4 - 8
Consolidated statement of comprehensive income
 
9
Consolidated balance sheet
 
10 - 11
Company balance sheet
 
12
Consolidated statement of changes in equity
 
13
Company statement of changes in equity
 
14
Consolidated statement of cash flows
 
15 - 16
Notes to the financial statements
 
17 - 37


 
ACCLAIM DMW HOLDINGS LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024

Introduction
 
The directors present their strategic report accompanying the consolidated financial statements for the year ended 30 April 2024.

Business review
 
The group is involved in the supply, hire and repair of materials handling and associated equipment to end users and operates from locations in Purfleet in Essex which is also the Head Office, plus regional depots at Norwich, Reading, Spalding, Kent, Liverpool, Rugby and Waterlooville in Hampshire along with a new addition in the year of a depot in Portsmouth. The new depot in Portsmouth was a strategic decision to gain better exposure along the south coast. Acclaim Handling Ltd continues to be a dealer for STILL and HYUNDAI equipment but has looked to expand this to provide Lonking; this was as a result of general economic demand shifting to a cheaper alternative which we have swiftly managed to source and find the highest quality options but at the affordable prices customers are currently expecting. 
The group has returned another healthy increase in turnover up 6.14% from the prior year. This has been achieved through the company adapting to the market conditions above but also through the expansion into Portsmouth and Lonking. We continue to have a record number of salespersons, and we expect sales performance to continue an upward trajectory into the year ending 30 April 2025. Sustaining the optimum level of engineering resource continues to be a challenge but we are proactive regarding recruitment and believe we offer an employment package that compares favourably with our competition. Our Engineer Apprenticeship Scheme continues to attract candidates which is essential as we seek to increase the engineer pool for the future.
We have increased our marketing resource in order to broaden the customer base and market penetration particularly in the social media area. 
The next year we will see the company look to expand into new areas that we currently do not service to increase our market share and brand appeal. A number of areas have been identified as potential expansion opportunities and offer exciting opportunities to the Acclaim brand.

Principal risks and uncertainties
 
The key principal risks and uncertainties facing the group are the state of the UK economy and how well the operating company is performing.

Financial key performance indicators
 
Given the straight forward nature of the business, the group's directors are of the opinion that analysis using KPIs is not necessary for an understanding of the development, performance or position of the business.


This report was approved by the board on 4 November 2024 and signed on its behalf.



S D Woods
Director

Page 1

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the group's financial statements and then apply them consistently;

make judgments 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 group 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 the group and to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Results and dividends

The profit for the year, after taxation, amounted to £2,254,130 (2023 - £2,162,354).

During the year dividends were voted of £198,766 (2023: £163,671).

Directors

The directors who served during the year were:

C F Swift 
S D Woods 

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company and the group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the group's auditors are aware of that information.

Page 2

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024

Post balance sheet events

There have been no significant events affecting the group since the year end.

Auditors

The auditorsBarnes Roffe LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 4 November 2024 and signed on its behalf.
 





S D Woods
Director

Page 3

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCLAIM DMW HOLDINGS LIMITED
 

Opinion


We have audited the financial statements of Acclaim DMW Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2024, which comprise the Consolidated statement of comprehensive income, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policiesThe 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's affairs as at 30 April 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 United Kingdom, including the Financial Reporting Council'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 or 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.


Page 4

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCLAIM DMW HOLDINGS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Opinion 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 Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report 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 Directors' report.


We have nothing to report in respect of the following matters in relation to which 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.


Page 5

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCLAIM DMW HOLDINGS LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 2, 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 is 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.


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 an Auditors' report 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 Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law 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 discussion with directors and
          other management, and from our commercial knowledge and experience of the software and technology
          sector in which the company operates;
• The specific laws and regulations which we considered may have a direct material effect on the financial
          statements or the operations of the group, are as follows;
       o       Companies Act 2006
       o FRS102
       o      Health and Safety legislation
       o     Employment legislation
       o      Tax legislation 
• We assessed the extent of compliance with the laws and regulations identified above through making
        enquiries of management, reviewing board minutes and inspecting relevant legal and other 
 correspondence; and
• Laws and regulations were communicated within the audit team at the planning meeting, and during the
         audit as any further laws and regulation were identified. The audit 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 enquires of management as to where they consider there was susceptibility to fraud and their
          knowledge of actual suspected and alleged fraud; 
 
Page 6

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCLAIM DMW HOLDINGS LIMITED (CONTINUED)


• Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
          regulations;
• Reviewing the financial statements and testing the disclosures against supporting documentation;
• Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
• Inspecting and testing journal entries to identify unusual or unexpected transactions;
• Assessing whether judgement and assumptions made in determining significant accounting estimates,
          including certain year end accruals, were indicative of management bias; and
• Investigating the rationale behind significant transactions, or transactions that are unusual or outside the
          company’s usual course of business. 
The areas that we identified as being susceptible to misstatement through fraud were:
• Management bias in the estimates and judgements made;
• Management override of controls; and 
• Posting of unusual journals or transactions.
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.  This 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 Auditors' report.


Page 7

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ACCLAIM DMW HOLDINGS LIMITED (CONTINUED)


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 2006Our 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 an Auditors' report 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.





Mario Cientanni (senior statutory auditor)
for and on behalf of
Barnes Roffe LLP
Chartered Accountants
Statutory Auditor
Charles Lake House
Claire Causeway
Crossways Business Park
Dartford
Kent
DA2 6QA

 
Date: 
4 November 2024
Page 8

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

2024
2023
Note
£
£

  

Turnover
 4 
22,099,008
20,819,884

Cost of sales
  
(15,367,515)
(13,667,047)

Gross profit
  
6,731,493
7,152,837

Distribution costs
  
(795,755)
(760,310)

Administrative expenses
  
(3,192,414)
(3,090,382)

Other operating income
 5 
-
6,100

Fair value movements
  
405,000
(573,149)

Operating profit
 6 
3,148,324
2,735,096

Interest receivable and similar income
 10 
51,387
17,896

Interest payable and similar expenses
 11 
(79,352)
(36,096)

Profit before taxation
  
3,120,359
2,716,896

Tax on profit
 12 
(866,229)
(554,542)

Profit for the financial year
  
2,254,130
2,162,354

  

Unrealised surplus on revaluation of tangible fixed assets
  
-
575,000

Movement of deferred tax relating to pension deficit
  
-
(143,750)

Other comprehensive income for the year
  
-
431,250

Total comprehensive income for the year
  
2,254,130
2,593,604

Profit for the year attributable to:
  

Owners of the parent company
  
2,254,130
2,162,354

  
2,254,130
2,162,354

Total comprehensive income for the year attributable to:
  

Owners of the parent company
  
2,254,130
2,593,604

  
2,254,130
2,593,604

The notes on pages 17 to 37 form part of these financial statements.

Page 9

 
ACCLAIM DMW HOLDINGS LIMITED
REGISTERED NUMBER: 10389692

CONSOLIDATED BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 14 
123,269
201,124

Tangible assets
 15 
22,401,023
19,580,359

Investments
 16 
13,342
13,342

Investment property
 17 
6,940,000
6,535,000

  
29,477,634
26,329,825

Current assets
  

Stocks
 18 
958,801
714,031

Debtors: amounts falling due after more than one year
 19 
673,175
-

Debtors: amounts falling due within one year
 19 
3,621,480
2,190,784

Cash at bank and in hand
 20 
3,686,920
4,785,435

  
8,940,376
7,690,250

Creditors: amounts falling due within one year
 21 
(4,857,366)
(3,119,790)

Net current assets
  
 
 
4,083,010
 
 
4,570,460

Total assets less current liabilities
  
33,560,644
30,900,285

Creditors: amounts falling due after more than one year
 22 
(825,907)
(625,215)

Provisions for liabilities
  

Deferred taxation
 24 
(2,069,270)
(1,810,767)

Other provisions
 25 
(145,800)
-

Net assets
  
30,519,667
28,464,303


Capital and reserves
  

Called up share capital 
 26 
1,000
1,000

Revaluation reserve
  
2,235,046
2,235,046

Merger reserve
  
1,230,037
1,230,037

Profit and loss account
  
27,053,584
24,998,220

  
30,519,667
28,464,303


Page 10

 
ACCLAIM DMW HOLDINGS LIMITED
REGISTERED NUMBER: 10389692
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by  




S D Woods
Director

Date: 4 November 2024

The notes on pages 17 to 37 form part of these financial statements.

Page 11

 
ACCLAIM DMW HOLDINGS LIMITED
REGISTERED NUMBER: 10389692

COMPANY BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 16 
14,073,178
14,073,078

  
14,073,178
14,073,078

Current assets
  

Debtors: amounts falling due within one year
 19 
9,764,356
8,004,924

  
9,764,356
8,004,924

Creditors: amounts falling due within one year
 21 
(200)
(240,668)

Net current assets
  
 
 
9,764,156
 
 
7,764,256

Total assets less current liabilities
  
23,837,334
21,837,334

  

  

Net assets
  
23,837,334
21,837,334


Capital and reserves
  

Called up share capital 
 26 
1,000
1,000

Merger reserve
  
12,831,411
12,831,411

Profit and loss account
  
11,004,923
9,004,923

  
23,837,334
21,837,334


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


S D Woods
Director

Date: 4 November 2024

The notes on pages 17 to 37 form part of these financial statements.

Page 12

 
ACCLAIM DMW HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Revaluation reserve
Merger reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 May 2023
1,000
2,235,046
1,230,037
24,998,220
28,464,303



Profit for the year
-
-
-
2,254,130
2,254,130

Dividends: Equity capital
-
-
-
(198,766)
(198,766)


At 30 April 2024
1,000
2,235,046
1,230,037
27,053,584
30,519,667



CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Called up share capital
Revaluation reserve
Merger reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 May 2022
1,000
1,803,796
1,230,037
22,999,537
26,034,370



Profit for the year
-
-
-
2,162,354
2,162,354

Dividends: Equity capital
-
-
-
(163,671)
(163,671)

Revaluation gain
-
431,250
-
-
431,250


At 30 April 2023
1,000
2,235,046
1,230,037
24,998,220
28,464,303


The notes on pages 17 to 37 form part of these financial statements.

Page 13

 
ACCLAIM DMW HOLDINGS LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Merger reserve
Profit and loss account
Total equity

£
£
£
£

At 1 May 2023
1,000
12,831,411
9,004,923
21,837,334



Profit for the year
-
-
2,167,420
2,167,420

Dividends: Equity capital
-
-
(167,420)
(167,420)


At 30 April 2024
1,000
12,831,411
11,004,923
23,837,334



COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Called up share capital
Merger reserve
Profit and loss account
Total equity

£
£
£
£

At 1 May 2022
1,000
12,831,411
9,004,923
21,837,334



Profit for the year
-
-
122,850
122,850

Dividends: Equity capital
-
-
(122,850)
(122,850)


At 30 April 2023
1,000
12,831,411
9,004,923
21,837,334


The notes on pages 17 to 37 form part of these financial statements.

Page 14

 
ACCLAIM DMW HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
2,254,130
2,162,354

Adjustments for:

Amortisation of intangible assets
77,855
77,855

Depreciation of tangible assets
3,937,418
3,722,441

Profit on disposal of tangible assets
(562,289)
(707,267)

Interest paid
79,352
36,096

Interest received
(51,387)
(17,896)

Taxation charge
866,229
554,542

(Increase) in stocks
(244,770)
(30,457)

(Increase) in debtors
(2,103,871)
(440,932)

Increase/(decrease) in creditors
1,364,851
(288,812)

Increase in provisions
145,800
-

Net fair value
(405,000)
573,149

Corporation tax (paid)
(416,706)
(477,186)

Net cash generated from operating activities

4,941,612
5,163,887


Cash flows from investing activities

Purchase of tangible fixed assets
(6,554,576)
(5,155,206)

Sale of tangible fixed assets
1,096,572
1,149,926

Interest received
51,387
17,896

HP interest paid
(77,177)
(36,096)

Net cash from investing activities

(5,483,794)
(4,023,480)

Cash flows from financing activities

Repayment of finance leases
(355,392)
(290,106)

New finance lease
-
348,013

Dividends paid
(198,766)
(163,671)

Interest paid
(2,175)
-

Net cash used in financing activities
(556,333)
(105,764)

Net (decrease)/increase in cash and cash equivalents
(1,098,515)
1,034,643

Cash and cash equivalents at beginning of year
4,785,435
3,750,792

Cash and cash equivalents at the end of year
3,686,920
4,785,435


Cash and cash equivalents at the end of year comprise:
Page 15

 
ACCLAIM DMW HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024


2024
2023

£
£


Cash at bank and in hand
3,686,920
4,785,435

3,686,920
4,785,435


The notes on pages 17 to 37 form part of these financial statements.

Page 16

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The company, incorporated in England and Wales, has its registered office at Ellisam House, Purfleet Industrial Park, Purfleet, Essex, RM15 4YD. 
The group's principal activity continued to be that of the hire, sale and repair of forklift trucks and accessories.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires group management to exercise judgment in applying the group's accounting policies (see note 3).

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the acquisition merger method. In the balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

Page 17

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the group has transferred the significant risks and rewards of ownership to the buyer;
the group 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 group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 18

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Operating leases: the group as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Consolidated statement of comprehensive income in the same period as the related expenditure.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Pensions

Defined contribution pension plan

The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the group in independently administered funds.

Page 19

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company and the group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.11

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.




Page 20

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:-


Freehold property
-
2% - 25% straight line
Plant and machinery
-
10% - 50% straight line
Motor vehicles
-
25% - 50% straight line or 25% reducing balance
Hire fleet
-
11% - 20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.13

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.14

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.15

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 21

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.16

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.17

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.18

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the group's cash management.

 
2.19

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.20

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 22

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.21

Financial instruments

The group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.22

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The group has made key assumptions regarding the useful economic life of tangible fixed assets and this is further described in note 2.12 above. In addition the level of stock provision is considered a key assumption to the company's results. The total stock provision at the year end amounted to £309,339 (2023: £366,784). The provision is based on items of stock that have been held for over three years.

Page 23

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Turnover

2024
2023
£
£

Sales
10,402,915
10,325,927

Truck sales
3,780,900
3,764,125

Parts and servicing
5,617,790
4,749,725

Driver training
466,002
369,054

Transport
235,131
232,754

Webshop sales
899,553
744,860

Rent receivable
696,717
633,439

22,099,008
20,819,884


2024
2023
£
£

United Kingdom
22,099,008
20,819,884

22,099,008
20,819,884



5.


Other operating income

2024
2023
£
£

Government grants receivable
-
6,100

-
6,100



6.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Other operating lease rentals
67,305
351,339

Page 24

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Auditors' remuneration

During the year, the group obtained the following services from the company's auditors:


2024
2023
£
£

Fees payable to the company's auditors for the audit of the consolidated and parent company's financial statements
41,850
35,125

Fees payable to the company's auditors in respect of:

All non-audit services
964
1,050


8.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
2024
2023
£
£


Wages and salaries
5,055,458
4,003,613

Social security costs
1,123,812
1,051,802

Cost of defined contribution scheme
200,000
257,696

6,379,270
5,313,111


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2024
        2023
        2024
        2023
            No.
            No.
            No.
            No.









Office management
92
86
2
2



Hire fleet labour
59
57
-
-

151
143
2
2

Page 25

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
117,996
109,997

Group contributions to defined contribution pension schemes
160,000
40,000

277,996
149,997



10.


Interest receivable

2024
2023
£
£


Other interest receivable
51,387
17,896

51,387
17,896


11.


Interest payable and similar expenses

2024
2023
£
£


Finance leases and hire purchase contracts
77,177
36,096

Other interest payable
2,175
-

79,352
36,096

Page 26

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

12.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
607,777
488,605

Adjustments in respect of previous periods
(51)
-


Deferred tax


Origination and reversal of timing differences
258,503
188,356

Changes to tax rates
-
35,206

Taxation on revaluation of property
-
(157,625)

Total deferred tax
258,503
65,937


Tax on profit
866,229
554,542

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 19.5%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
3,120,359
2,716,896


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19.5%)
780,090
529,795

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
1,961
40

Capital allowances for year in excess of depreciation
(4,404)
(68,287)

Amortisation
19,464
15,182

Profit on disposal of fixed assets
(143,022)
(146,252)

Capital gains
54,938
46,363

Deferred tax
258,503
65,937

Fair value adjustment
(101,250)
111,764

Prior year adjustment
(51)
-

Total tax charge for the year
866,229
554,542

Page 27

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
12.Taxation (continued)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


13.


Dividends

2024
2023
£
£


Dividends paid - Ordinary Shares
167,420
122,850


Dividends paid - Non equity shares
31,346
40,821

198,766
163,671


14.


Intangible assets

Group and Company





Goodwill

£



Cost


At 1 May 2023
933,834



At 30 April 2024

933,834



Amortisation


At 1 May 2023
732,710


Charge for the year on owned assets
77,855



At 30 April 2024

810,565



Net book value



At 30 April 2024
123,269



At 30 April 2023
201,124



Page 28

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

15.


Tangible fixed assets

Group






Freehold property
Plant and machinery
Motor vehicles
Hire stock
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
4,035,000
773,652
2,483,884
34,591,521
41,884,057


Additions
2,140,175
75,366
695,289
4,381,535
7,292,365


Disposals
-
(96,384)
(211,515)
(2,349,604)
(2,657,503)



At 30 April 2024

6,175,175
752,634
2,967,658
36,623,452
46,518,919



Depreciation


At 1 May 2023
-
585,891
1,639,898
20,077,909
22,303,698


Charge for the year on owned assets
-
91,762
299,572
3,323,801
3,715,135


Charge for the year on financed assets
-
-
94,561
127,722
222,283


Disposals
-
(96,383)
(211,508)
(1,815,329)
(2,123,220)



At 30 April 2024

-
581,270
1,822,523
21,714,103
24,117,896



Net book value



At 30 April 2024
6,175,175
171,364
1,145,135
14,909,349
22,401,023



At 30 April 2023
4,035,000
187,761
843,986
14,513,612
19,580,359

The net book value of assets held under finance leases or hire purchase contracts, included above, is as follows:


2024
2023
£
£



Motor vehicles
385,056
91,453

Hire stock
817,120
656,677

1,202,176
748,130

Page 29

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Cost or valuation at 30 April 2024 is as follows:

Land and buildings
£


At cost
3,675,411
At valuation:

30 April 2023
2,499,764



6,175,175


16.


Fixed asset investments

Group





Unlisted investments

£



Cost or valuation


At 1 May 2023
13,342



At 30 April 2024
13,342




Company





Investments in subsidiary companies

£



Cost or valuation


At 1 May 2023
14,073,078


Additions
100



At 30 April 2024
14,073,178




Page 30

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

Direct subsidiary undertakings


The following were direct subsidiary undertakings of the company:

Name

Registered office

Class of shares

Holding

Ellisam Properties Limited
(A)
Ordinary
100%
Acclaim Handling Limited
(A)
Ordinary
100%
Ellisam Holdings Limited
(A)
Ordinary
100%
The Acclaim Handling Group Limited
(A)
Ordinary
100%
Materials Handling UK Limited
(A)
Ordinary
100%


Indirect subsidiary undertakings


The following were indirect subsidiary undertakings of the company:

Name

Registered office

Class of shares

Holding

Benmark Brick Sales Limited
(A)
Ordinary
100%
Accstor Limited
(A)
Ordinary
100%

(A) - Ellisam House Purfleet Industrial Park, Purfleet, Essex, United Kingdom, RM15 4YD.


17.


Investment property

Group


Freehold investment property

£



Valuation


At 1 May 2023
6,535,000


Surplus on revaluation
405,000



At 30 April 2024
6,940,000

The 2024 valuations were made by by Glenny LLP, Knight Benjamin and George and Company (Surveyors) Ltd, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
4,635,000
4,635,000



Page 31

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

18.


Stocks

Group
Group
2024
2023
£
£

Finished goods and goods for resale
958,801
714,031

958,801
714,031


The difference between purchase price or production cost of stocks and their replacement cost is not material.

Page 32

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

19.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Due after more than one year

Other debtors
673,175
-
-
-


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Due within one year

Trade debtors
2,825,213
1,554,466
-
-

Amounts owed by group undertakings
-
-
9,764,355
8,004,923

Other debtors
284,197
83,497
-
-

Called up share capital not paid
1
1
1
1

Prepayments and accrued income
512,069
552,820
-
-

3,621,480
2,190,784
9,764,356
8,004,924



20.


Cash and cash equivalents

Group
Group
2024
2023
£
£

Cash at bank and in hand
3,686,920
4,785,435

3,686,920
4,785,435


Page 33

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

21.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Trade creditors
2,017,421
1,183,318
-
-

Amounts owed to group undertakings
-
-
100
240,668

Corporation tax
378,916
187,896
-
-

Other taxation and social security
791,620
713,695
-
-

Obligations under finance lease and hire purchase contracts
497,992
316,287
-
-

Other creditors
602,046
136,123
100
-

Accruals and deferred income
569,371
582,471
-
-

4,857,366
3,119,790
200
240,668


The hire purchase contract liabilities noted above and in amounts due over one year totalling £938,502 (2023: £938,502) are secured over the assets to which they relate.


22.


Creditors: Amounts falling due after more than one year

Group
Group
2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
825,907
625,215

825,907
625,215





23.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
2024
2023
£
£

Within one year
497,992
313,287

Between 1-5 years
825,907
625,215

1,323,899
938,502

Page 34

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

24.


Deferred taxation


Group



2024
2023


£

£






At beginning of year
(1,810,767)
(1,601,080)


Charged to profit or loss
(258,503)
(65,937)


Charged to other comprehensive income
-
(143,750)



At end of year
(2,069,270)
(1,810,767)

Company


2024
2023






At end of year
-
-
Group
Group
2024
2023
£
£

Accelerated capital allowances
(1,202,424)
(1,059,763)

On revaluation of property
(866,846)
(751,004)

(2,069,270)
(1,810,767)


25.


Provisions


Group



Warranty

£





Charged to profit or loss
145,800



At 30 April 2024
145,800

Page 35

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

           25.Provisions (continued)

Company


Total

£






At 30 April 2024
-


26.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



800 (2023 - 800) Ordinary shares of £1.00 each
800
800
50 (2023 - 50) Ordinary A shares of £1.00 each
50
50
50 (2023 - 50) Ordinary B shares of £1.00 each
50
50
50 (2023 - 50) Ordinary C shares of £1.00 each
50
50
50 (2023 - 50) Ordinary D shares of £1.00 each
50
50

1,000

1,000



27.


Pension commitments

The group operates defined contribution pension schemes for its employees and directors. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the group to the funds and amounted to £377,431 (2023: £217,696) . Contributions totalling £Nil  (2023: £Nil)  were payable to the funds at the balance sheet date.


28.


Commitments under operating leases

At 30 April 2024 the group and the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2024
2023
£
£

Not later than 1 year
32,574
44,135

Later than 1 year and not later than 5 years
29,860
62,434

62,434
106,569
Page 36

 
ACCLAIM DMW HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

29.


Related party transactions

The directors have an interest in dividends voted during the year amounting to £167,420 (2023: £122,850).


30.


Controlling party

The ultimate controlling party is Ms C Swift

 
Page 37