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Registered number: 01207566










DELDEN MACHINERY LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
DELDEN MACHINERY LIMITED
REGISTERED NUMBER: 01207566

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,155,266
8,746,143

  
7,155,266
8,746,143

Current assets
  

Stocks
  
10,000
10,000

Debtors: amounts falling due within one year
 5 
986,298
465,597

Cash at bank and in hand
 6 
71,012
45,045

  
1,067,310
520,642

Creditors: amounts falling due within one year
 7 
(1,127,793)
(1,197,270)

Net current liabilities
  
 
 
(60,483)
 
 
(676,628)

Total assets less current liabilities
  
7,094,783
8,069,515

Creditors: amounts falling due after more than one year
 8 
(278,598)
(1,326,988)

Provisions for liabilities
  

Deferred tax
 11 
(1,671,663)
(1,705,075)

Net assets
  
5,144,522
5,037,452


Capital and reserves
  

Called up share capital 
  
1,825,073
1,825,073

Profit and loss account
  
3,319,449
3,212,379

  
5,144,522
5,037,452


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 January 2025.




S Nyland
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 1

 
DELDEN MACHINERY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 August 2022
100
6,712,091
6,712,191


Comprehensive income for the year

Profit for the year
-
365,261
365,261

Dividends
-
(150,000)
(150,000)

Purchase of own shares
-
(1,890,000)
(1,890,000)

Reduction of shares
(27)
27
-

Bonus issue
1,825,000
(1,825,000)
-



At 1 August 2023
1,825,073
3,212,379
5,037,452


Comprehensive income for the year

Profit for the year
-
307,070
307,070

Dividends
-
(200,000)
(200,000)


At 31 July 2024
1,825,073
3,319,449
5,144,522


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
DELDEN MACHINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Delden Machinery Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11 Station Road, Selston, Nottinghamshire, NG16 6FF. 
The principal activity of the Company continued to be that of the sale and hire of machines. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £. 

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Delden Group Holdings Limited as at 31 July 2024 and these financial statements may be obtained from Companies House..

 
2.3

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operation existence for the foreseeable future, being at least 12 months from the signing of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. 

 
2.4

Revenue

Revenue is recognised at the fair value of the consideration received or receivable for the hire of machines and is shown net of VAT and other sales related taxes. 
Revenue from hire contracts is recognised over the hire period. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. 

Page 3

 
DELDEN MACHINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.6

Interest income

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

 
2.7

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.

 
2.8

Borrowing costs

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

 
2.9

Taxation

The tax expense for the year represents the deferred tax movement. 
Deferred tax
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; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. 

 
2.10

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 4

 
DELDEN MACHINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
5% - 20%
Motor vehicles
-
20% - 25%

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.

 
2.11

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.
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.

 
2.12

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.

 
2.13

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. 

 
2.14

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.

 
2.15

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.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
DELDEN MACHINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.16

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.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost 


At 1 August 2023
11,270,498
12,100
11,282,598


Transfers intra group
(1,513,425)
-
(1,513,425)



At 31 July 2024

9,757,073
12,100
9,769,173



Depreciation


At 1 August 2023
2,524,355
12,100
2,536,455


Charge for the year on owned assets
258,197
-
258,197


Charge for the year on financed assets
293,322
-
293,322


Transfers intra group
(474,067)
-
(474,067)



At 31 July 2024

2,601,807
12,100
2,613,907



Net book value



At 31 July 2024
7,155,266
-
7,155,266



At 31 July 2023
8,746,143
-
8,746,143

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


2024
2023
£
£



Plant and machinery
4,719,313
5,012,635

Page 6

 
DELDEN MACHINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
986,298
465,597



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
71,012
45,045



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other borrowings
220,000
220,000

Amounts owed to group undertakings
65,000
150,000

Obligations under finance lease and hire purchase contracts
828,393
815,270

Accruals and deferred income
14,400
12,000

1,127,793
1,197,270


Net obligations under hire purchase contracts are secured by fixed charges on the assets concerned.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other borrowings
-
220,000

Net obligations under finance leases and hire purchase contracts
278,598
1,106,988

278,598
1,326,988


Net obligations under hire purchase contracts are secured by fixed charges on the assets concerned. 

Page 7

 
DELDEN MACHINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
220,000
220,000


220,000
220,000

Amounts falling due 1-2 years

Other loans
-
220,000




IThe other borrowings of £220,000 (2023: £440,000) is due to an other related entity. This loan is secured against specific tangible fixed assets and interest is being charged at a fixed rate of 2.93%.


10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
828,393
815,270

Between 1-5 years
278,598
1,106,988

1,106,991
1,922,258


11.


Deferred taxation




2024


£






At beginning of year
(1,705,075)


Charged to profit or loss
33,412



At end of year
(1,671,663)

Page 8

 
DELDEN MACHINERY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
 
11.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,671,663)
(1,784,235)

Tax losses carried forward
-
79,160

(1,671,663)
(1,705,075)


The expected net reversal of deferred taxation assets and liabilities is expected to be £100,000, based on the differences between capital allowances and depreciation for fixed assets.


12.


Contingent liabilities

There is a group guarantee facility in place with other group companies relating to hire purchase agreements. At the year end, the outstanding guarantees under this facility in respect of other group companies totalled £12,004,972 (2023: £10,282,887).


13.


Related party transactions

The Company has taken advantage of the exemption contained within FRS102.33.1A and has therefore not disclosed transactions or balances between itself and other wholly owned group companies of Delden Group Holdings Limited. 
At the year end the Company owed £220,000 (2023: £440,000) to an other related entity. This amount is included within other borrowings. This loan is secured against specific tangible fixed assets and interest is being charged at a fixed rate of 2.93%.


14.


Controlling party

The parent company is Delden Group Holdings Limited and its registered office is 111 Station Road, Selston, Nottingham, England, NG16 6FF. 
The parent undertaking of the smallest and largest group for which consolidated accounts are prepared is Delden Group Holdings Limited. Consolidated accounts are available from Companies House

15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 29 January 2025 by Lucy Robinson (Senior statutory auditor) on behalf of PKF Smith Cooper Audit Limited.


Page 9