Silverfin false false 30/06/2024 01/07/2023 30/06/2024 P Ahuja 14/02/2020 S Baldwin 14/02/2020 C Dean 14/01/2020 M Fitzsimons 14/02/2020 C Hutchison G Stubbs 30/07/2024 14/02/2020 21 January 2025 no description of principal activity 01062820 2024-06-30 01062820 bus:Director1 2024-06-30 01062820 bus:Director2 2024-06-30 01062820 bus:Director3 2024-06-30 01062820 bus:Director4 2024-06-30 01062820 bus:Director6 2024-06-30 01062820 2023-06-30 01062820 core:CurrentFinancialInstruments 2024-06-30 01062820 core:CurrentFinancialInstruments 2023-06-30 01062820 core:Non-currentFinancialInstruments 2024-06-30 01062820 core:Non-currentFinancialInstruments 2023-06-30 01062820 core:ShareCapital 2024-06-30 01062820 core:ShareCapital 2023-06-30 01062820 core:SharePremium 2024-06-30 01062820 core:SharePremium 2023-06-30 01062820 core:RetainedEarningsAccumulatedLosses 2024-06-30 01062820 core:RetainedEarningsAccumulatedLosses 2023-06-30 01062820 core:PlantMachinery 2023-06-30 01062820 core:Vehicles 2023-06-30 01062820 core:OfficeEquipment 2023-06-30 01062820 core:ComputerEquipment 2023-06-30 01062820 core:PlantMachinery 2024-06-30 01062820 core:Vehicles 2024-06-30 01062820 core:OfficeEquipment 2024-06-30 01062820 core:ComputerEquipment 2024-06-30 01062820 core:WithinOneYear 2024-06-30 01062820 core:WithinOneYear 2023-06-30 01062820 core:BetweenOneFiveYears 2024-06-30 01062820 core:BetweenOneFiveYears 2023-06-30 01062820 2023-07-01 2024-06-30 01062820 bus:FilletedAccounts 2023-07-01 2024-06-30 01062820 bus:SmallEntities 2023-07-01 2024-06-30 01062820 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 01062820 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01062820 bus:Director1 2023-07-01 2024-06-30 01062820 bus:Director2 2023-07-01 2024-06-30 01062820 bus:Director3 2023-07-01 2024-06-30 01062820 bus:Director4 2023-07-01 2024-06-30 01062820 bus:Director5 2023-07-01 2024-06-30 01062820 bus:Director6 2023-07-01 2024-06-30 01062820 core:PlantMachinery core:BottomRangeValue 2023-07-01 2024-06-30 01062820 core:PlantMachinery core:TopRangeValue 2023-07-01 2024-06-30 01062820 core:Vehicles 2023-07-01 2024-06-30 01062820 core:OfficeEquipment core:TopRangeValue 2023-07-01 2024-06-30 01062820 core:ComputerEquipment core:TopRangeValue 2023-07-01 2024-06-30 01062820 2022-07-04 2023-06-30 01062820 core:PlantMachinery 2023-07-01 2024-06-30 01062820 core:OfficeEquipment 2023-07-01 2024-06-30 01062820 core:ComputerEquipment 2023-07-01 2024-06-30 01062820 core:CurrentFinancialInstruments 2023-07-01 2024-06-30 01062820 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Company No: 01062820 (England and Wales)

DEAN GROUP INTERNATIONAL LTD

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

DEAN GROUP INTERNATIONAL LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

DEAN GROUP INTERNATIONAL LTD

BALANCE SHEET

As at 30 June 2024
DEAN GROUP INTERNATIONAL LTD

BALANCE SHEET (continued)

As at 30 June 2024
Note 30.06.2024 30.06.2023
£ £
Fixed assets
Tangible assets 3 324,151 359,944
324,151 359,944
Current assets
Stocks 4 755,241 768,748
Debtors 5 3,515,458 3,329,303
Cash at bank and in hand 16,216 17,926
4,286,915 4,115,977
Creditors: amounts falling due within one year 6 ( 920,131) ( 767,610)
Net current assets 3,366,784 3,348,367
Total assets less current liabilities 3,690,935 3,708,311
Creditors: amounts falling due after more than one year 7 ( 9,770) 0
Net assets 3,681,165 3,708,311
Capital and reserves
Called-up share capital 7,400 7,400
Share premium account 12,600 12,600
Profit and loss account 3,661,165 3,688,311
Total shareholder's funds 3,681,165 3,708,311

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Dean Group International Ltd (registered number: 01062820) were approved and authorised for issue by the Board of Directors on 21 January 2025. They were signed on its behalf by:

M Fitzsimons
Director
DEAN GROUP INTERNATIONAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
DEAN GROUP INTERNATIONAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Dean Group International Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Dean Group International Ltd Brinell Drive, Northbank Industrial Estate, Irlam, M44 5BL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
* the Company has transferred the significant risks and rewards of ownership to the buyer;
* the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
* the amount of revenue can be measured reliably;
* it is probable that the Company 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.

Interest income

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

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 3 - 10 years straight line
Vehicles 25 % reducing balance
Office equipment 3 years straight line
Computer equipment 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

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

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance sheet date.

2. Employees

Year ended
30.06.2024
Period from
04.07.2022 to
30.06.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 38 40

3. Tangible assets

Plant and machinery Vehicles Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 July 2023 1,549,871 43,783 204,837 229,544 2,028,035
Additions 50,600 0 4,547 0 55,147
At 30 June 2024 1,600,471 43,783 209,384 229,544 2,083,182
Accumulated depreciation
At 01 July 2023 1,335,227 18,397 185,892 128,575 1,668,091
Charge for the financial year 49,075 6,347 12,482 23,036 90,940
At 30 June 2024 1,384,302 24,744 198,374 151,611 1,759,031
Net book value
At 30 June 2024 216,169 19,039 11,010 77,933 324,151
At 30 June 2023 214,644 25,386 18,945 100,969 359,944
Leased assets included above:
Net book value
At 30 June 2024 21,274 0 0 0 21,274
At 30 June 2023 0 0 0 0 0

4. Stocks

30.06.2024 30.06.2023
£ £
Work in progress 58,284 70,644
Finished goods 696,957 698,104
755,241 768,748

5. Debtors

30.06.2024 30.06.2023
£ £
Trade debtors 1,159,048 982,835
Amounts owed by Group undertakings 1,920,000 1,720,000
Deferred tax asset 247,379 155,911
Other debtors 189,031 470,557
3,515,458 3,329,303

6. Creditors: amounts falling due within one year

30.06.2024 30.06.2023
£ £
Trade creditors 302,389 403,342
Accruals and deferred income 83,591 87,438
Other taxation and social security 254,191 264,640
Obligations under finance leases and hire purchase contracts (secured) 7,377 0
Other creditors 272,583 12,190
920,131 767,610

The finance lease is secured over the assets to which the lease relates.

Other creditors includes proceeds of factored debts which are secured over the company's trade debtors, in favour of Facflow.

7. Creditors: amounts falling due after more than one year

30.06.2024 30.06.2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 9,770 0

The finance lease is secured over the assets to which the lease relates.

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

30.06.2024 30.06.2023
£ £
within one year 124,288 113,828
between one and five years 153,150 178,438
277,438 292,266

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

30.06.2024 30.06.2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 33,387 12,189