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REGISTERED NUMBER: 01707850 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 June 2024

for

D S L Group (Nottingham) Limited

D S L Group (Nottingham) Limited (Registered number: 01707850)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


D S L Group (Nottingham) Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M S Landa
I S Landa
C S Landa
K S Landa
H Patel





REGISTERED OFFICE: Birchwood House Unit A Willow Drive
Sherwood Business Park
Annesley
Nottingham
Nottinghamshire
NG15 0DP





REGISTERED NUMBER: 01707850 (England and Wales)





AUDITORS: Torr Waterfield Limited
Statutory Auditor
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

D S L Group (Nottingham) Limited (Registered number: 01707850)

Strategic Report
for the Year Ended 30 June 2024

The directors present their strategic report for the year ended 30 June 2024.

REVIEW OF BUSINESS
The financial year 2024 was a period of transition for D S L Group (Nottingham) Limited. The company underwent significant structural changes, including a demerger that resulted in a shift in ownership and leadership. On 2 April 2024, Manjit Singh Landa and his family took full control of the main trading business, marking a new chapter for the company.

During this period, the company also relocated its head office and warehouse operations to modern, larger premises in North Nottinghamshire. This strategic move, while necessary for long-term growth, involved short-term challenges, including relocation costs and operational disruptions. Additionally, the one-off costs associated with the demerger, alongside the complexities of restructuring, had a temporary impact on the company's financial performance.

Despite these challenges, the business has since made significant strides in improving efficiency and profitability. The consolidation of operations in the new premises has led to notable cost savings and increased operational effectiveness. A streamlined cost structure, combined with a strong focus on trading performance, has positioned the company for sustained success.

Encouragingly, the management accounts for the seven months ending 31 January 2025 report a profit before tax of £613,000. This reflects the positive impact of our new leadership team, strategic initiatives, and recent growth in new business. With a stronger foundation in place, the company is well-positioned for continued success in the years ahead.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors consider the potential risks to be similar to those faced by similar companies in the sector, principally to do with the continuity of supply, the maintenance of their customers, foreign exchange variations and more specifically the continued impact from inflation.

Considerable emphasis is devoted to maintaining service levels with customers and working closely with suppliers on logistical and quality issues to ensure that high levels of performance are achieved.

Staff are encouraged to fully contribute to the business and the directors recognise that the future success of the business depends on the retention and dedication of key employees. Targeted remuneration packages, which the directors consider to be attractive by industry standards, are offered to mitigate this risk and encourage development.

KEY PERFORMANCE INDICATORS
The key performance indicators that the directors monitor the business by are levels of turnover achieved, margins achieved, net current assets position and the cash generation of the business. All these indicators are monitored monthly.

ON BEHALF OF THE BOARD:





M S Landa - Director


27 March 2025

D S L Group (Nottingham) Limited (Registered number: 01707850)

Report of the Directors
for the Year Ended 30 June 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of sale of promotional and non-food products through a network of petrol stations and convenience stores.

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2024 was £1,362,398 (2023 - £nil). The dividend arose due to the demerger referred to in the Strategic Report.

DIRECTORS
M S Landa has held office during the whole of the period from 1 July 2023 to the date of this report.

Other changes in directors holding office are as follows:

P S Landa - resigned 16 April 2024
K S Landa - resigned 16 April 2024
M J Rogers - resigned 16 April 2024
E R Chary - resigned 9 April 2024
I S Landa - appointed 16 April 2024
C S Landa - appointed 16 April 2024
K S Landa - appointed 16 April 2024
H Patel - appointed 19 April 2024

QUALIFYING THIRD PARTY INDEMNITY PROVISIONS
The company has arranged qualifying third party indemnity for all of its directors.

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.

D S L Group (Nottingham) Limited (Registered number: 01707850)

Report of the Directors
for the Year Ended 30 June 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:





M S Landa - Director


27 March 2025

Report of the Independent Auditors to the Members of
D S L Group (Nottingham) Limited

Opinion
We have audited the financial statements of D S L Group (Nottingham) Limited (the 'company') for the year ended 30 June 2024 which comprise the Statement of 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 30 June 2024 and of its loss 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
D S L Group (Nottingham) 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 three, 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
D S L Group (Nottingham) 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:

Extent to which the audit was considered capable of detecting irregularities, including fraud

The capability to detect irregularities is based on the auditor identifying and assessing the risks of material misstatement of the financial statements, whether due to fraud or error, and then designing and performing audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

a) Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, the following approach was taken:

- Understanding the nature of the industry and sector, control environment and business performance;
- Consideration of the results of our enquiries of management and those charged with governance
about their own identification and assessment of the risks of irregularities;
- Understanding the company's policies and procedures on compliance with laws and regulations and
management of fraud risk, including documentation of instances of non-compliance of laws and
regulations and instances of actual, suspected or alleged fraud;
- Consideration of matters discussed among the audit engagement team regarding how and where
fraud might occur in the financial statements and any potential indicators of fraud;
- Understanding the legal and regulatory frameworks that the company operates in through enquiry of
management and those charged with governance and understanding the company's industry and
sector. The key laws and regulations that were considered to have an effect on material amounts and
disclosures in the financial statements included the Companies Act and tax legislation.

b) Audit response to risks identified

Based on this understanding, the following audit procedures were designed and performed to respond to the risks identified.

- Reviewing the financial statement disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations described as having a direct effect on the financial
statement;
- Enquiring of management, those charged with governance and, where applicable, the company's
solicitors concerning actual and potential litigation and claims;
- Performing analytical procedures to identify any unusual or unexpected relationships that may
indicate risks of material misstatement due to fraud
- Reviewing minutes of meetings of those charged with governance and, where applicable,
correspondence with regulators;
- Performing audit work over the risk of management override of controls, including testing of journal
entries and other adjustments for appropriateness and evaluating the business rationale of significant
transactions outside the normal course of business.
- Communication of potential fraud risks to all engagement team members and remaining alert to any
indications of fraud or non-compliance with laws and regulations throughout the audit.

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.

Report of the Independent Auditors to the Members of
D S L Group (Nottingham) Limited


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.

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.




Peter Morris (Senior Statutory Auditor)
for and on behalf of Torr Waterfield Limited
Statutory Auditor
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

27 March 2025

D S L Group (Nottingham) Limited (Registered number: 01707850)

Statement of Comprehensive
Income
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

TURNOVER 3 7,686,199 10,206,799

Cost of sales (5,479,496 ) (6,472,384 )
GROSS PROFIT 2,206,703 3,734,415

Distribution costs (1,501,500 ) (1,327,196 )
Administrative expenses (2,275,529 ) (2,587,196 )
(1,570,326 ) (179,977 )

Other operating income 6,145 32,508
OPERATING LOSS 5 (1,564,181 ) (147,469 )

Interest receivable and similar income 4,269 -
LOSS BEFORE TAXATION (1,559,912 ) (147,469 )

Tax on loss 6 63,589 -
LOSS FOR THE FINANCIAL YEAR (1,496,323 ) (147,469 )

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(1,496,323

)

(147,469

)

D S L Group (Nottingham) Limited (Registered number: 01707850)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Intangible assets 8 7,773 8,833
Tangible assets 9 329,423 216,152
337,196 224,985

CURRENT ASSETS
Stocks 10 3,527,351 4,060,940
Debtors 11 2,028,514 2,475,753
Cash at bank and in hand 951,424 1,914,355
6,507,289 8,451,048
CREDITORS
Amounts falling due within one year 12 (2,899,238 ) (1,919,445 )
NET CURRENT ASSETS 3,608,051 6,531,603
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,945,247

6,756,588

CAPITAL AND RESERVES
Called up share capital 14 57,380 10,000
Capital redemption reserve 15 1 1
Retained earnings 15 3,887,866 6,746,587
SHAREHOLDERS' FUNDS 3,945,247 6,756,588

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





M S Landa - Director


D S L Group (Nottingham) Limited (Registered number: 01707850)

Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 July 2022 10,000 6,894,056 1 6,904,057

Changes in equity
Total comprehensive income - (147,469 ) - (147,469 )
Balance at 30 June 2023 10,000 6,746,587 1 6,756,588

Changes in equity
Issue of share capital 47,380 - - 47,380
Dividends - (1,362,398 ) - (1,362,398 )
Total comprehensive income - (1,496,323 ) - (1,496,323 )
Balance at 30 June 2024 57,380 3,887,866 1 3,945,247

D S L Group (Nottingham) Limited (Registered number: 01707850)

Cash Flow Statement
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (981,345 ) 190,226
Taxation refund 63,589 -
Net cash from operating activities (917,756 ) 190,226

Cash flows from investing activities
Purchase of tangible fixed assets (205,054 ) (114,278 )
Sale of tangible fixed assets 1,100 4,327
Interest received 4,269 -
Net cash from investing activities (199,685 ) (109,951 )

Cash flows from financing activities
Amount introduced by directors 1,399,670 62
Share issue 47,380 -
Equity dividends paid (1,362,398 ) -
Amounts due from group undertakings 69,858 (582 )
Net cash from financing activities 154,510 (520 )

(Decrease)/increase in cash and cash equivalents (962,931 ) 79,755
Cash and cash equivalents at
beginning of year

2

1,914,355

1,834,600

Cash and cash equivalents at end of
year

2

951,424

1,914,355

D S L Group (Nottingham) Limited (Registered number: 01707850)

Notes to the Cash Flow Statement
for the Year Ended 30 June 2024

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

30.6.24 30.6.23
£    £   
Loss before taxation (1,559,912 ) (147,469 )
Depreciation charges 91,744 79,264
Profit on disposal of fixed assets - (2,005 )
Finance income (4,269 ) -
(1,472,437 ) (70,210 )
Decrease in stocks 533,589 586,564
Decrease/(increase) in trade and other debtors 417,932 (14,306 )
Decrease in trade and other creditors (460,429 ) (311,822 )
Cash generated from operations (981,345 ) 190,226

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 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 951,424 1,914,355
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 1,914,355 1,887,154
Bank overdrafts - (52,554 )
1,914,355 1,834,600


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank and in hand 1,914,355 (962,931 ) 951,424
1,914,355 (962,931 ) 951,424
Total 1,914,355 (962,931 ) 951,424

D S L Group (Nottingham) Limited (Registered number: 01707850)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

D S L Group (Nottingham) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the economic useful lives and residual values of assets. The useful economic lives and residual values are reviewed annually.

ii) Stock provisions

In determining stock provisions, evaluation of future demand is considered and appropriate provisions made to reflect the risk of obsolescence. This is significantly affected by forecasted needs for stock. If actual demand or usage were to be lower than estimated, additional stock provisions for excess or obsolete stock may be required.

iii) Bad debt provisions

Bad debt provisions are made by the directors based on the age of the unpaid debt and the terms of trade.

D S L Group (Nottingham) Limited (Registered number: 01707850)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts and rebates allowed by the company and Value Added Tax.

The company recognises turnover when the following criteria have been met:

(a) the significant risks and rewards of ownership have been transferred to the buyer;
(b) the company retains no ongoing involvement or control over the goods;
(c) the revenue can be reliably measured;
(d) it is probable that the company will receive the consideration due under the transaction; and
(e) the costs incurred in respect of the transaction can be reliably measured.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

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 - 50% on cost and 20% on reducing balance
Fixtures and fittings - 15% to 35% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets 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.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the purchase price 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.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

D S L Group (Nottingham) Limited (Registered number: 01707850)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases
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 operate defined contribution pension schemes. Contributions payable to the company's pension schemes are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the company.

4. EMPLOYEES AND DIRECTORS
30.6.24 30.6.23
£    £   
Wages and salaries 1,997,161 2,045,826
Social security costs 211,870 207,511
Other pension costs 31,232 42,568
2,240,263 2,295,905

The average number of employees during the year was as follows:
30.6.24 30.6.23

Warehouse and packing 28 29
Distribution 20 20
Finance and administration 21 26
69 75

30.6.24 30.6.23
£    £   
Directors' remuneration 414,374 372,679
Directors' pension contributions to money purchase schemes 9,056 8,500

D S L Group (Nottingham) Limited (Registered number: 01707850)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. EMPLOYEES AND DIRECTORS - continued

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

Information regarding the highest paid director is as follows:
30.6.24 30.6.23
£    £   
Emoluments etc 197,404 186,836
Pension contributions to money purchase schemes 9,056 8,500

5. OPERATING LOSS

The operating loss is stated after charging/(crediting):

30.6.24 30.6.23
£    £   
Other operating leases 208,675 209,525
Depreciation - owned assets 90,683 78,204
Profit on disposal of fixed assets - (2,005 )
Computer software amortisation 1,060 1,060
Auditors remuneration 23,500 18,000
Foreign exchange differences (98,043 ) 2,197

6. TAXATION

Analysis of the tax credit
The tax credit on the loss for the year was as follows:
30.6.24 30.6.23
£    £   
Current tax:
Under/(Overprovision) of prior
year (63,589 ) -
Tax on loss (63,589 ) -

UK corporation tax has been charged at 25% (2023 - 19%).

D S L Group (Nottingham) Limited (Registered number: 01707850)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. TAXATION - continued

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

30.6.24 30.6.23
£    £   
Loss before tax (1,559,912 ) (147,469 )
Loss multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 19%)

(389,978

)

(28,019

)

Effects of:
Expenses not deductible for tax purposes 5,396 -
Adjustments to tax charge in respect of previous periods (63,589 ) -
Other timing differences - 28,019
Movement on unrecognised deferred tax asset 384,582 -
Total tax credit (63,589 ) -

7. DIVIDENDS
30.6.24 30.6.23
£    £   
Ordinary shares of £1 each
Interim 1,362,398 -

8. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 July 2023
and 30 June 2024 10,600
AMORTISATION
At 1 July 2023 1,767
Amortisation for year 1,060
At 30 June 2024 2,827
NET BOOK VALUE
At 30 June 2024 7,773
At 30 June 2023 8,833

D S L Group (Nottingham) Limited (Registered number: 01707850)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 131,023 254,051 436,175 73,064 894,313
Additions 79,635 38,170 87,249 - 205,054
Disposals - - - (10,800 ) (10,800 )
At 30 June 2024 210,658 292,221 523,424 62,264 1,088,567
DEPRECIATION
At 1 July 2023 120,523 133,142 378,388 46,108 678,161
Charge for year 10,500 60,662 12,896 6,625 90,683
Eliminated on disposal - - - (9,700 ) (9,700 )
At 30 June 2024 131,023 193,804 391,284 43,033 759,144
NET BOOK VALUE
At 30 June 2024 79,635 98,417 132,140 19,231 329,423
At 30 June 2023 10,500 120,909 57,787 26,956 216,152

10. STOCKS
30.6.24 30.6.23
£    £   
Finished goods 3,527,351 4,060,940

Stock recognised in cost of sales during the period as an expense was £3,375,211 (2023: £4,305,489).

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 576,171 1,662,739
Amounts owed by group undertakings - 29,306
Other debtors 782,136 7,953
Prepayments and accrued income 670,207 775,755
2,028,514 2,475,753

An impairment loss of £196,608 (2023: £252) has been recognised in profit or loss for the year in respect of bad and doubtful debts.

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 1,084,924 1,207,836
Amounts owed to group undertakings 40,552 -
Social security and other taxes 110,010 407,349
Directors' current accounts 1,399,670 -
Accruals and deferred income 264,082 304,260
2,899,238 1,919,445

D S L Group (Nottingham) Limited (Registered number: 01707850)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 30.6.23
£    £   
Within one year 275,487 243,822
Between one and five years 645,452 153,108
920,939 396,930

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
57,380 Ordinary £1 57,380 10,000

The following shares were issued during the year in exchange for the novation of related party loan balances:
47,380 Ordinary shares of £1

15. RESERVES

Retained Earnings
Retained earnings represents cumulative profits and losses, net of dividends paid and other adjustments.

Share Premium Account
Share premium account represents the premium paid for new shares in excess of the nominal value.

Capital Redemption Reserve
This reserve was reconciled under Section 709 to 723 of the CA2006 when shares were cancelled in the year ended 30 June 2021.

16. RELATED PARTY DISCLOSURES

Key management personnel of the entity or its parent (in the aggregate)
30.6.24 30.6.23
£    £   
Amount due to related party 1,399,670 -

Key management personnel are considered to be the directors of the company. Their remuneration is stated in Note 4.

D S L Group (Nottingham) Limited (Registered number: 01707850)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

16. RELATED PARTY DISCLOSURES - continued

Other related parties

Some directors had an interest in another company. During the year rent of £301,103 (2023 - £297,500 was paid to this company. At the year end the amount outstanding was £nil (2023 - £nil).

Certain directors also have an interest in another company. Loan balances were assigned during the year of £832,432 (2023 - £nil). A debtor of £832,432 (2023 - £nil) was outstanding at the year end against which a provision of £167,432 has been applied.

Certain directors are related to directors of a company and members of the directors' family have an interest in another company. During the year expenses of £nil (2023 - £52) were incurred on its behalf. A debtor amounting to £nil (2023 - £84) was outstanding at the year end. An amount of £84 (2023 - £nil) was written off as a bad debt

Certain directors during the year were also directors of another company. During the year a management charge of £182,623 (2023 - £243,141) was incurred. A debtor amounting to £nil (2023 - £59) was outstanding at the year end. An amount of £59 (2023 - £nil) was written off as a bad debt.

17. ULTIMATE CONTROLLING PARTY

Following a group reconstruction on 16 April 2024 the parent undertaking is HKL Holdings Limited. The registered office address is Birchwood House Unit A Willow Drive, Sherwood Business Park, Annesley, Nottingham, NG15 0DP.

On 16 April 2024, M S Landa became the ultimate controlling party.