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REGISTERED NUMBER: 02225242 (England and Wales)

















Financial Statements

for the Year Ended 29 February 2024

for

Dynafluid Limited

Dynafluid Limited (Registered number: 02225242)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Dynafluid Limited

Company Information
for the year ended 29 February 2024







DIRECTORS: J N Ellis
M J Ellis
Ms C Cooper



SECRETARY: D B Oakes



REGISTERED OFFICE: D1 & D2 Halesfield 21
Telford
Shropshire
TF7 4NX



REGISTERED NUMBER: 02225242 (England and Wales)



AUDITORS: WR Partners
Chartered Accountants and Statutory Auditor
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG



BANKERS: Barclays Bank Plc
Church Street
Wellington
Shropshire
TF1 1DQ

Dynafluid Limited (Registered number: 02225242)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,448 8,723
Property, plant and equipment 5 305,980 334,412
312,428 343,135

CURRENT ASSETS
Inventories 430,203 405,917
Debtors 6 367,981 620,801
Cash at bank and in hand 999,653 523,804
1,797,837 1,550,522
CREDITORS
Amounts falling due within one year 7 184,920 257,726
NET CURRENT ASSETS 1,612,917 1,292,796
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,925,345

1,635,931

CREDITORS
Amounts falling due after more than
one year

8

(115,920

)

(155,664

)

PROVISIONS FOR LIABILITIES (74,979 ) (62,133 )
NET ASSETS 1,734,446 1,418,134

CAPITAL AND RESERVES
Called up share capital 64,863 64,863
Share premium 3,890 3,890
Retained earnings 1,665,693 1,349,381
SHAREHOLDERS' FUNDS 1,734,446 1,418,134

Dynafluid Limited (Registered number: 02225242)

Statement of Financial Position - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





J N Ellis - Director


Dynafluid Limited (Registered number: 02225242)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Dynafluid 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 five 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 machinery - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.


Dynafluid Limited (Registered number: 02225242)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

Dynafluid Limited (Registered number: 02225242)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023
and 29 February 2024 11,377
AMORTISATION
At 1 March 2023 2,654
Charge for year 2,275
At 29 February 2024 4,929
NET BOOK VALUE
At 29 February 2024 6,448
At 28 February 2023 8,723

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 453,216 - 13,500 80,167 546,883
Additions 2,030 8,582 - - 10,612
At 29 February 2024 455,246 8,582 13,500 80,167 557,495
DEPRECIATION
At 1 March 2023 124,131 - 13,500 74,840 212,471
Charge for year 35,239 - - 3,805 39,044
At 29 February 2024 159,370 - 13,500 78,645 251,515
NET BOOK VALUE
At 29 February 2024 295,876 8,582 - 1,522 305,980
At 28 February 2023 329,085 - - 5,327 334,412

Dynafluid Limited (Registered number: 02225242)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 265,989 298,518
Amounts owed by group undertakings 76,407 275,752
Other debtors 25,585 46,531
367,981 620,801

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 72,583
Hire purchase contracts (see note 9) 39,744 39,744
Trade creditors 66,176 70,813
Taxation and social security 33,334 35,883
Other creditors 45,666 38,703
184,920 257,726

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 115,920 155,664

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 39,744 39,744
Between one and five years 115,920 155,664
155,664 195,408

Dynafluid Limited (Registered number: 02225242)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 17,747 4,088
Between one and five years 38,302 6,594
56,049 10,682

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 72,583

The bank loan facilities are secured by fixed and floating charges over the company's assets.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Helen Pierce (Senior Statutory Auditor)
for and on behalf of WR Partners

Dynafluid Limited (Registered number: 02225242)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

12. RELATED PARTY DISCLOSURES

Included in creditors amounts falling due within one year are amounts totalling £31,392 (2023 - £27,664) due to the directors of the company, these amounts are repayable on demand. During the year no interest was paid on the balances.

Included in amounts owed by group undertakings is an interest free loan of £307,749 (2023 - £363,706) due from Wrekin Shell Mouldings Limited, it's ultimate parent undertaking.

Included in other creditors is an interest free loan of £2 (2023 - £2) due to Gresswell Valves Limited, a company under common control..

During the year the company paid a dividend of £145,457 (2023 - £145,457) to Wrekin Shell Mouldings Limited. The company also paid dividends totalling £3,728 (2023 - £3,728) to the directors of the company.

During the 2014 accounts year the company raised additional finance from Barclays Bank Plc in order to fund the purchase of land and a business by Wrekin Shell Mouldings Limited. These loans were secured by a charge over the assets of Wrekin Shell Mouldings Ltd. At the balance sheet date, the value of these additional loans outstanding to the bank totalled £nil (2023 - £72,583). In 2023, these loans were shown in creditors due within one year.

13. ULTIMATE PARENT UNDERTAKING

The ultimate parent undertaking of the company is Wrekin Shell Mouldings Limited.

The registered office and business address of Wrekin Shell Mouldings Limited is Units D1 and D2, Halesfield 21, Telford, TF7 4NX.

The group accounts of Wrekin Shell Mouldings Limited are available from Companies House.