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REGISTERED NUMBER: 02650749 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 29th February 2024

for

DLP SERVICES (NORTHERN) LIMITED

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 17


DLP SERVICES (NORTHERN) LIMITED

Company Information
for the Year Ended 29th February 2024







DIRECTORS: Mr L Morris
Mr G P Warrington



SECRETARY: Mr L Morris



REGISTERED OFFICE: 54 Cobden Street
Brindle Heath Industrial Estate
Salford
Manchester
M6 6WF



REGISTERED NUMBER: 02650749 (England and Wales)



SENIOR STATUTORY AUDITOR: Andrew Carl Caunce FCCA



AUDITORS: Abrams Ashton-Chorley Limited
Statutory Auditor
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

Strategic Report
for the Year Ended 29th February 2024

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

REVIEW OF BUSINESS
This year the company's trading has resulted in a net profit before tax of £532k. Turnover has increased from £16.1m to £17.4m; GP% has decreased slightly in the year. The director continues to monitor the company's performance on a daily basis and is focused on implementing tighter cost controls to maintain the gross profit margin. The director is confident that the company is well positioned to grow profitably.

KEY PERFORMANCE INDICATORS (KPI)

The directors monitor progress on the company's strategy and individual elements by reference to the following KPI's:

KPI 2024 2023

Sales growth 7.4% 35.8%

Gross margin 21.5% 22.7%

The company continues to focus on winning new tenders with new customers in a wider geographical area, whilst maintaining existing contracts.

PRINCIPAL RISKS AND UNCERTAINTIES:

ENVIRONMENTAL AND OTHER RISKS

The company continues to closely monitor and evaluate environmental and other regulatory matters which could have a major impact on its activities.
The company is keen to eliminate all injuries, occupational illnesses, unsafe practices and incidents of environmental harm from its activities. The health and safety of its employees, the local community and the environment is the number one priority of the company.

FINANCIAL RISK MANAGEMENT

The company's operations expose it to a variety of financial risks that include the effects of credit risk, liquidity risk and interest rate cash flow risk through fluctuations in interest rates. The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the company.
The state of the economy and the construction sector specifically, is a risk which is outside the immediate control of the company; however, the directors carefully track future work opportunities in a bid to ensure continued profitability.

Trade Debtors:

Trade debtors are a significant financial asset of the company; these customers are large companies with strong credit ratings and formal procedures are in place to ensure that the collection of outstanding amounts is prioritised.


DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

Strategic Report
for the Year Ended 29th February 2024

PRINCIPAL RISKS AND UNCERTAINTIES - CONT...
Working capital requirement:

The company's trading arrangements with customers and suppliers is supported by continuous negotiations throughout the supply chain and robust credit control procedures ensure that adequate working capital is available to meet its day to day requirements and allow the ongoing development of trading activities.

Credit risk:

The company has implemented policies that require appropriate credit checks on potential customers before sales are made.

Liquidity risk:

The company actively maintains short term debt finance that is designed to ensure the company has sufficient funds for operations.

Health and Safety:

The company seeks to comply with all relevant health and safety legislation to ensure, as far as reasonably practicable, that safe working rules are established, maintained and adhered to in order to secure the safety of employees, contractors and visitors within all aspects of its operations.
All employees are educated in aspects of health and safety within their environment, with suitable procedures in place to cover incidents should they arise.

ON BEHALF OF THE BOARD:





Mr L Morris - Director


29th November 2024

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

Report of the Directors
for the Year Ended 29th February 2024

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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of building maintenance and roofing contractors.

DIVIDENDS
Interim dividends per share were paid as follows:
10.00 - 1st April 2023
10.00 - 1st July 2023
15.00 - 1st October 2023
13.50 - 1st January 2024
48.5

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 29th February 2024 will be £ 485,000 .

DIRECTORS
Mr L Morris has held office during the whole of the period from 1st March 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mr K J Greenhalgh - resigned 11th August 2023

Mr G P Warrington was appointed as a director after 29th February 2024 but prior to the date of this report.

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.

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

Report of the Directors
for the Year Ended 29th February 2024


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.

ON BEHALF OF THE BOARD:





Mr L Morris - Director


29th November 2024

Report of the Independent Auditors to the Members of
DLP Services (Northern) Limited

Opinion
We have audited the financial statements of DLP Services (Northern) Limited (the 'company') for the year ended 29th February 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 29th 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
DLP Services (Northern) 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 four, 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
DLP Services (Northern) 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.

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 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 other management, and from our commercial knowledge of the housing 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 regulations 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 set out in note 3 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 of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, the Regulator of Social Housing, 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.

Report of the Independent Auditors to the Members of
DLP Services (Northern) Limited


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.




Andrew Carl Caunce FCCA (Senior Statutory Auditor)
for and on behalf of Abrams Ashton-Chorley Limited
Statutory Auditor
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

29th November 2024

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

Income Statement
for the Year Ended 29th February 2024

29.2.24 28.2.23
Notes £    £   

TURNOVER 17,361,997 16,162,040

Cost of sales 13,632,803 12,479,191
GROSS PROFIT 3,729,194 3,682,849

Administrative expenses 3,157,638 2,706,366
OPERATING PROFIT 4 571,556 976,483


Interest payable and similar expenses 5 39,531 29,776
PROFIT BEFORE TAXATION 532,025 946,707

Tax on profit 6 31,637 95,634
PROFIT FOR THE FINANCIAL YEAR 500,388 851,073

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

Other Comprehensive Income
for the Year Ended 29th February 2024

29.2.24 28.2.23
Notes £    £   

PROFIT FOR THE YEAR 500,388 851,073


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

500,388

851,073

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

Balance Sheet
29th February 2024

29.2.24 28.2.23
Notes £    £   
CURRENT ASSETS
Stocks 9 36,270 40,298
Debtors 10 4,428,001 3,601,356
Cash at bank and in hand 315,787 394
4,780,058 3,642,048
CREDITORS
Amounts falling due within one year 11 4,402,369 3,079,747
NET CURRENT ASSETS 377,689 562,301
TOTAL ASSETS LESS CURRENT
LIABILITIES

377,689

562,301

CREDITORS
Amounts falling due after more than one
year

12

250,000

450,000
NET ASSETS 127,689 112,301

CAPITAL AND RESERVES
Called up share capital 16 10,000 10,000
Retained earnings 17 117,689 102,301
SHAREHOLDERS' FUNDS 127,689 112,301

The financial statements were approved by the Board of Directors and authorised for issue on 29th November 2024 and were signed on its behalf by:





Mr L Morris - Director


DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st March 2022 10,000 126,228 136,228

Changes in equity
Dividends - (875,000 ) (875,000 )
Total comprehensive income - 851,073 851,073
Balance at 28th February 2023 10,000 102,301 112,301

Changes in equity
Dividends - (485,000 ) (485,000 )
Total comprehensive income - 500,388 500,388
Balance at 29th February 2024 10,000 117,689 127,689

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

Cash Flow Statement
for the Year Ended 29th February 2024

29.2.24 28.2.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,529,153 252,883
Interest paid (39,531 ) (29,776 )
Tax paid (95,634 ) -
Net cash from operating activities 1,393,988 223,107

Cash flows from financing activities
Loan repayments in year (200,000 ) (200,000 )
Amount introduced by directors - 149,000
Amounts withdrawn by directors (61,867 ) (62,279 )
Amount from/(to) parent to company (93,051 ) 390,088
Equity dividends paid (485,000 ) (875,000 )
Net cash from financing activities (839,918 ) (598,191 )

Increase/(decrease) in cash and cash equivalents 554,070 (375,084 )
Cash and cash equivalents at beginning of
year

2

(238,283

)

136,801

Cash and cash equivalents at end of year 2 315,787 (238,283 )

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

Notes to the Cash Flow Statement
for the Year Ended 29th February 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

29.2.24 28.2.23
£    £   
Profit before taxation 532,025 946,707
Finance costs 39,531 29,776
571,556 976,483
Decrease in stocks 4,028 14,956
Increase in trade and other debtors (733,594 ) (728,135 )
Increase/(decrease) in trade and other creditors 1,687,163 (10,421 )
Cash generated from operations 1,529,153 252,883

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 29th February 2024
29.2.24 1.3.23
£    £   
Cash and cash equivalents 315,787 394
Bank overdrafts - (238,677 )
315,787 (238,283 )
Year ended 28th February 2023
28.2.23 1.3.22
£    £   
Cash and cash equivalents 394 136,801
Bank overdrafts (238,677 ) -
(238,283 ) 136,801


DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

Notes to the Cash Flow Statement
for the Year Ended 29th February 2024

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.3.23 Cash flow At 29.2.24
£    £    £   
Net cash
Cash at bank and in hand 394 315,393 315,787
Bank overdrafts (238,677 ) 238,677 -
(238,283 ) 554,070 315,787
Debt
Debts falling due within 1 year (200,000 ) - (200,000 )
Debts falling due after 1 year (450,000 ) 200,000 (250,000 )
(650,000 ) 200,000 (450,000 )
Total (888,283 ) 754,070 (134,213 )

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

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

1. STATUTORY INFORMATION

DLP Services (Northern) 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue recognition
Revenue is the value of services, net of value added tax, provided to customers during the year.

Revenue is recognised when the following conditions are satisfied:

- the company has transferred to the buyer the significant risks and rewards of ownership of the goods
- the amount of revenue and related costs can be measured reliably
- for long term contracts the stage of completion is based upon review of the contract progress and the proportion of costs incurred for work performed compared to the estimated total cost of the contract after making allowance for uncertainties

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on cost
Office equipment - 15% on cost
Computer equipment - 33.3% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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

Costs include a relevant proportion of overheads according to the stage of completion.

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors, loans to common controlled companies and cash and bank balances, are initially measured at transaction price including transaction costs. They are subsequently carried at amortised cost using the effective interest method, 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets
All the company's financial assets fall to be classified as basic financial assets under Section 11 of FRS 102 and the company therefore holds no other financial assets.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities
All the companies financial liabilities fall to be classified as basic financial liabilities under Section 11 of FRS 102 and the company therefore has no other financial instruments.

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 balance sheet date.

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
The company makes payments to the directors and employees pension plans. Contributions are charged to the profit and loss account in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

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

3. EMPLOYEES AND DIRECTORS
29.2.24 28.2.23
£    £   
Wages and salaries 3,309,738 2,664,505
Other pension costs 83,366 49,978
3,393,104 2,714,483

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

Productive staff 44 45
Administrative 45 46
89 91

29.2.24 28.2.23
£    £   
Directors' remuneration - -

4. OPERATING PROFIT

The operating profit is stated after charging:

29.2.24 28.2.23
£    £   
Plant hire 2,127,244 1,728,719
Auditors' remuneration 13,895 13,937
Operating lease 25,000 25,000
Other operating lease 76,500 76,500
Auditors fees for non audit services 2,600 2,500

5. INTEREST PAYABLE AND SIMILAR EXPENSES
29.2.24 28.2.23
£    £   
Bank loan interest 38,476 29,776
CT interest 1,055 -
39,531 29,776

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
£    £   
Current tax:
UK corporation tax 31,637 95,634
Tax on profit 31,637 95,634

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

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

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

29.2.24 28.2.23
£    £   
Profit before tax 532,025 946,707
Profit multiplied by the standard rate of corporation tax in the UK of
24.490% (2023 - 19%)

130,293

179,874

Effects of:
Expenses not deductible for tax purposes 8,708 9,869
Capital allowances in excess of depreciation (44 ) (42 )
and change in tax rates

Group loss relief (107,320 ) (94,067 )
Total tax charge 31,637 95,634

7. DIVIDENDS
29.2.24 28.2.23
£    £   
Ordinary shares of £1 each
Interim 485,000 875,000

8. TANGIBLE FIXED ASSETS
Improvements
to Plant and Office Computer
property machinery equipment equipment Totals
£    £    £    £    £   
COST
At 1st March 2023
and 29th February 2024 13,500 13,060 36,170 53,633 116,363
DEPRECIATION
At 1st March 2023
and 29th February 2024 13,500 13,060 36,170 53,633 116,363
NET BOOK VALUE
At 29th February 2024 - - - - -
At 28th February 2023 - - - - -

9. STOCKS
29.2.24 28.2.23
£    £   
Stocks 36,270 40,298

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

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

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 3,131,719 2,475,698
Amount due from parent company 342,379 249,328
Amounts recoverable on contract 916,873 836,689
Other debtors 15,742 13,553
Prepayments and accrued income 21,288 26,088
4,428,001 3,601,356

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts (see note 13) 200,000 438,677
Trade creditors 2,861,398 1,299,905
Tax 31,637 95,634
Social security and other taxes 840,204 759,573
Directors' current accounts 27,467 89,334
Accrued expenses 441,663 396,624
4,402,369 3,079,747

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans (see note 13) 250,000 450,000

13. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 238,677
Bank loans 200,000 200,000
200,000 438,677

Amounts falling due between one and two years:
Bank loans - 1-2 years 200,000 200,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 50,000 250,000

The bank loan has been taken out through the CBILS scheme introduced by the government in response to the Covid-19 pandemic.

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

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

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29.2.24 28.2.23
£    £   
Within one year 101,500 101,500

15. SECURED DEBTS

The company has entered into a cross company guarantee relating to its bank overdraft facility which is secured on the assets of its parent company.

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
10,000 Ordinary £1 10,000 10,000

17. RESERVES
Retained
earnings
£   

At 1st March 2023 102,301
Profit for the year 500,388
Dividends (485,000 )
At 29th February 2024 117,689

18. ULTIMATE PARENT COMPANY

Pendleton Property Services Limited is regarded by the directors as being the company's ultimate parent company.

The registered office of the ultimate parent company is situated at 54 Cobden Street, Brindle Heath Industrial Estate, Salford, Manchester, M6 6WF.

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29th February 2024 and 28th February 2023:

29.2.24 28.2.23
£    £   
Mr K J Greenhalgh
Balance outstanding at start of year 2,488 (2,280 )
Amounts advanced - 4,768
Amounts repaid (2,488 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,488

DLP SERVICES (NORTHERN) LIMITED (REGISTERED NUMBER: 02650749)

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

20. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Mr L Morris via his controlling interest in the parent company - Pendleton Property Services Limited.