IRIS Accounts Production v25.1.0.734 06389130 Board of Directors Board of Directors 31.7.24 1.8.23 31.7.24 31.7.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Activities of other holding companies not elsewhere classified true true false true true false false false true false Ordinary A 0 Ordinary B 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh063891302023-07-31063891302024-07-31063891302023-08-012024-07-31063891302022-07-31063891302022-08-012023-07-31063891302023-07-3106389130ns15:EnglandWales2023-08-012024-07-3106389130ns14:PoundSterling2023-08-012024-07-3106389130ns10:Director12023-08-012024-07-3106389130ns10:Director22023-08-012024-07-3106389130ns10:Consolidated2024-07-3106389130ns10:ConsolidatedGroupCompanyAccounts2023-08-012024-07-3106389130ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3106389130ns10:Consolidatedns10:MediumEntities2023-08-012024-07-3106389130ns10:Consolidatedns10:Audited2023-08-012024-07-3106389130ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-08-012024-07-3106389130ns10:Medium-sizedCompaniesRegimeForAccounts2023-08-012024-07-3106389130ns10:Consolidated2023-08-012024-07-3106389130ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-08-012024-07-3106389130ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-08-012024-07-3106389130ns10:FullAccounts2023-08-012024-07-310638913012023-08-012024-07-3106389130ns10:OrdinaryShareClass12023-08-012024-07-3106389130ns10:OrdinaryShareClass22023-08-012024-07-3106389130ns10:Director32023-08-012024-07-3106389130ns10:Director42023-08-012024-07-3106389130ns10:Director52023-08-012024-07-3106389130ns10:RegisteredOffice2023-08-012024-07-3106389130ns10:Consolidated2022-08-012023-07-3106389130ns5:CurrentFinancialInstruments2024-07-3106389130ns5:CurrentFinancialInstruments2023-07-3106389130ns5:Non-currentFinancialInstruments2024-07-3106389130ns5:Non-currentFinancialInstruments2023-07-3106389130ns5:ShareCapital2024-07-3106389130ns5:ShareCapital2023-07-3106389130ns5:RevaluationReserve2024-07-3106389130ns5:RevaluationReserve2023-07-3106389130ns5:CapitalRedemptionReserve2024-07-3106389130ns5:CapitalRedemptionReserve2023-07-3106389130ns5:RetainedEarningsAccumulatedLosses2024-07-3106389130ns5:RetainedEarningsAccumulatedLosses2023-07-3106389130ns5:ShareCapital2022-07-3106389130ns5:RetainedEarningsAccumulatedLosses2022-07-3106389130ns5:RevaluationReserve2022-07-3106389130ns5:CapitalRedemptionReserve2022-07-3106389130ns5:RetainedEarningsAccumulatedLosses2022-08-012023-07-3106389130ns5:RevaluationReserve2022-08-012023-07-3106389130ns5:CapitalRedemptionReserve2022-08-012023-07-3106389130ns5:RetainedEarningsAccumulatedLosses2023-08-012024-07-3106389130ns5:RevaluationReserve2023-08-012024-07-3106389130ns5:CapitalRedemptionReserve2023-08-012024-07-3106389130ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-3106389130ns5:LandBuildings2023-07-3106389130ns5:FurnitureFittings2023-07-3106389130ns5:LandBuildings2023-08-012024-07-3106389130ns5:FurnitureFittings2023-08-012024-07-3106389130ns5:LandBuildings2024-07-3106389130ns5:FurnitureFittings2024-07-3106389130ns5:LandBuildings2023-07-3106389130ns5:FurnitureFittings2023-07-3106389130ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3106389130ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3106389130ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-07-3106389130ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-07-3106389130ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-07-3106389130ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-07-3106389130ns5:DeferredTaxation2023-08-012024-07-3106389130ns5:DeferredTaxation2024-07-3106389130ns10:OrdinaryShareClass12024-07-3106389130ns10:OrdinaryShareClass22024-07-3106389130ns5:RetainedEarningsAccumulatedLosses2023-07-3106389130ns5:RevaluationReserve2023-07-3106389130ns5:CapitalRedemptionReserve2023-07-31
REGISTERED NUMBER: 06389130 (England and Wales)















DON VALLEY ENGINEERING GROUP LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2024






DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 19


DON VALLEY ENGINEERING GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: L A Ashurst
R E Baker
S F Doleman
A J Priestley
I D Trotter





REGISTERED OFFICE: Sandall Stones Road, Kirk
Sandall
Doncaster
South Yorkshire
DN3 1QR





REGISTERED NUMBER: 06389130 (England and Wales)





AUDITORS: Xeinadin Audit Limited
Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024


The directors present their strategic report for the year ended 31st July 2024

Principal Activity
The principal activity of the company is that of mechanical engineering, particularly that of the handling & processing of bulk materials and malting process plant. Within these sectors the company provides design consultancy, supply and manufacture of equipment, spares provision, repair and maintenance and asset management.

REVIEW OF BUSINESS
In the financial year covered by these accounts, the directors can report another successful year despite uncertain economic conditions both in our sectors and the wider economy.

With more settled inflation, more stable interest rates and having absorbed the global supply chain adjustment made pending the Ukraine/Russia war, the cost and availability of raw material and services has stabilised.

However, the low UK growth rates and the government's first budget has led to continued uncertainty and the company has noticed less urgency from customers to go ahead with projects.

In some specific markets, the concerns around the effects of US tariffs have led to a further delay in a number of well-advanced projects which we now expect to convert later in 2025 or early 2026.

Despite these head winds, with current workloads, a pipeline of enquiries and current resource levels the directors expect to weather the present uncertainties and deliver another profitable year of operation.

KEY PERFORMANCE INDICATORS
The directors consider the following relevant to the company:

2024 2023
% Gross Profit 22.1% 24.2%
Overheads / Turnover Ratio 15.9% 16.6%
Stock / Cost of Sales Ratio 5.3% 5.7%
Operating Profit / Turnover Ratio 6.2% 7.5%
Staff Costs / Turnover Ratio 8.4% 8.9%
Liquidity Ratio 119.7% 127.6%
Gearing Ratio 1.33 0.79

The directors consider the KPIs reflect the company's performance for the year.

ON BEHALF OF THE BOARD:





L A Ashurst - Director


25 April 2025

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2024


The directors present their report with the financial statements of the company and the group for the year ended 31 July 2024.

DIVIDENDS
A dividend of £381,552 was paid in the year.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2023 to the date of this report.

L A Ashurst
R E Baker
S F Doleman
A J Priestley
I D Trotter

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 group'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 group's auditors are aware of that information.

AUDITORS
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





L A Ashurst - Director


25 April 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DON VALLEY ENGINEERING GROUP LIMITED


Opinion
We have audited the financial statements of Don Valley Engineering Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 July 2024 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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
DON VALLEY ENGINEERING GROUP LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DON VALLEY ENGINEERING GROUP 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:

Based on our understanding of the Company, we identified that the principal risks of non-compliance with laws and regulations related to corporation tax legislation and we considered the extent to which non-compliance might have a material effect on the financial statements.

As part of this assessment we considered both quantitative and qualitative factors. We also considered those laws and regulations that have a direct impact of the preparation of the financial statements, such as the Companies Act 2006 and FRS 102.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements which included the risk of management override of controls. We determined that the principal risks were related to posting inappropriate journal entries, omitting, advancing or delaying recognition of events and transactions that have occurred during or after the reporting period, and potential management bias in the determination of accounting estimates or judgements to manipulate results.

Audit procedures performed by the engagement team include:

- Enquiring of and obtaining written representation from management in relation to known or suspected instances
of non-compliance with laws and regulations and fraud;
- Enquiring of entity staff in tax and compliance functions to identify any instances of non-compliance with laws
and regulations;
- Evaluation of management's controls designed to prevent and detect irregularities;
- Review of board meeting minutes and meetings of those charged with governance;
- Identifying and, where relevant, testing journal entries posted by senior management or with unusual
combinations;
- Assessing and evaluating the business rationale of significant transactions outside the normal course of
business;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with
applicable laws and regulations;
- Incorporating elements of unpredictability into the nature, timing and/or extent of audit procedures performed.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through 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
DON VALLEY ENGINEERING GROUP 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.




Mr Kelvin Fitton BA FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

29 April 2025

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £    £   

TURNOVER 3 17,318,576 16,582,340

Cost of sales 13,489,877 12,569,934
GROSS PROFIT 3,828,699 4,012,406

Administrative expenses 2,751,950 2,757,767
OPERATING PROFIT 5 1,076,749 1,254,639

Interest receivable and similar income 185,465 107,410
1,262,214 1,362,049

Interest payable and similar expenses 6 75,744 86,813
PROFIT BEFORE TAXATION 1,186,470 1,275,236

Tax on profit 7 340,380 48,875
PROFIT FOR THE FINANCIAL YEAR 846,090 1,226,361
Profit attributable to:
Owners of the parent 951,163 1,192,781
Non-controlling interests (105,073 ) 33,580
846,090 1,226,361

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 846,090 1,226,361


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

846,090

1,226,361

Total comprehensive income attributable to:
Owners of the parent 951,162 1,192,781
Non-controlling interests (105,072 ) 33,580
846,090 1,226,361

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

CONSOLIDATED BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 10 - (14,685 )
Tangible assets 11 2,863,017 2,816,749
Investments 12 1 1
2,863,018 2,802,065

CURRENT ASSETS
Stocks 13 713,952 719,460
Debtors 14 6,438,459 4,503,016
Cash at bank and in hand 6,575,716 4,230,599
13,728,127 9,453,075
CREDITORS
Amounts falling due within one year 15 11,473,129 7,406,790
NET CURRENT ASSETS 2,254,998 2,046,285
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,118,016

4,848,350

CREDITORS
Amounts falling due after more than one
year

16

(993,789

)

(1,210,466

)

PROVISIONS FOR LIABILITIES 19 (96,369 ) (74,564 )
NET ASSETS 4,027,858 3,563,320

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

CONSOLIDATED BALANCE SHEET - continued
31 JULY 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 20 80,000 80,000
Revaluation reserve 21 691,009 701,644
Capital redemption reserve 21 20,000 20,000
Retained earnings 21 3,274,273 2,694,027
SHAREHOLDERS' FUNDS 4,065,282 3,495,671

NON-CONTROLLING INTERESTS (37,424 ) 67,649
TOTAL EQUITY 4,027,858 3,563,320


The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:




L A Ashurst - Director



A J Priestley - Director


DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

COMPANY BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 2,526,417 2,462,727
Investments 12 2,569,082 2,569,082
5,095,499 5,031,809

CURRENT ASSETS
Debtors 14 1,451,361 5,889,134
Cash at bank 190,057 1,283,840
1,641,418 7,172,974
CREDITORS
Amounts falling due within one year 15 1,866,918 8,753,235
NET CURRENT LIABILITIES (225,500 ) (1,580,261 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,869,999

3,451,548

CREDITORS
Amounts falling due after more than one
year

16

(897,181

)

(978,544

)

PROVISIONS FOR LIABILITIES 19 (26,262 ) -
NET ASSETS 3,946,556 2,473,004

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

COMPANY BALANCE SHEET - continued
31 JULY 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 20 80,000 80,000
Revaluation reserve 21 691,009 701,644
Capital redemption reserve 21 20,000 20,000
Retained earnings 21 3,155,547 1,671,360
SHAREHOLDERS' FUNDS 3,946,556 2,473,004

Company's profit/(loss) for the financial year 1,855,104 (71,219 )


The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:




L A Ashurst - Director



A J Priestley - Director


DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

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

Called up
share Retained Revaluation
capital earnings reserve
£    £    £   
Balance at 1 August 2022 80,000 1,850,618 712,279

Changes in equity
Dividends - (360,007 ) -
Total comprehensive income - 1,203,416 (10,635 )
Balance at 31 July 2023 80,000 2,694,027 701,644

Changes in equity
Dividends - (381,552 ) -
Total comprehensive income - 961,798 (10,635 )
Balance at 31 July 2024 80,000 3,274,273 691,009
Capital
redemption Non-controlling Total
reserve Total interests equity
£    £    £    £   
Balance at 1 August 2022 20,000 2,662,897 34,069 2,696,966

Changes in equity
Dividends - (360,007 ) - (360,007 )
Total comprehensive income - 1,192,781 33,580 1,226,361
Balance at 31 July 2023 20,000 3,495,671 67,649 3,563,320

Changes in equity
Dividends - (381,552 ) - (381,552 )
Total comprehensive income - 951,163 (105,072 ) 846,091
Balance at 31 July 2024 20,000 4,065,282 (37,423 ) 4,027,859

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

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

Called up Capital
share Retained Revaluation redemption Total
capital earnings reserve reserve equity
£    £    £    £    £   
Balance at 1 August 2022 80,000 2,091,951 712,279 20,000 2,904,230

Changes in equity
Dividends - (360,007 ) - - (360,007 )
Total comprehensive income - (60,584 ) (10,635 ) - (71,219 )
Balance at 31 July 2023 80,000 1,671,360 701,644 20,000 2,473,004

Changes in equity
Dividends - (381,552 ) - - (381,552 )
Total comprehensive income - 1,865,739 (10,635 ) - 1,855,104
Balance at 31 July 2024 80,000 3,155,547 691,009 20,000 3,946,556

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,100,854 1,198,279
Interest paid (75,744 ) (86,813 )
Tax paid (25,154 ) (5,664 )
Net cash from operating activities 2,999,956 1,105,802

Cash flows from investing activities
Purchase of tangible fixed assets (315,357 ) (282,798 )
Sale of tangible fixed assets 63,880 26,479
Interest received 185,465 107,410
Net cash from investing activities (66,012 ) (148,909 )

Cash flows from financing activities
Loan repayments in year (200,135 ) (430,529 )
Capital repayments in year (7,140 ) (7,756 )
Equity dividends paid (381,552 ) (360,007 )
Net cash from financing activities (588,827 ) (798,292 )

Increase in cash and cash equivalents 2,345,117 158,601
Cash and cash equivalents at beginning of
year

2

4,230,599

4,071,998

Cash and cash equivalents at end of year 2 6,575,716 4,230,599

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2024


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

2024 2023
£    £   
Profit before taxation 1,186,470 1,275,236
Depreciation charges 201,808 109,868
Profit on disposal of fixed assets (11,286 ) (5,361 )
Finance costs 75,744 86,813
Finance income (185,465 ) (107,410 )
1,267,271 1,359,146
Decrease/(increase) in stocks 5,508 (207,618 )
(Increase)/decrease in trade and other debtors (1,917,220 ) 420,697
Increase/(decrease) in trade and other creditors 3,745,295 (373,946 )
Cash generated from operations 3,100,854 1,198,279

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 31 July 2024
31.7.24 1.8.23
£    £   
Cash and cash equivalents 6,575,716 4,230,599
Year ended 31 July 2023
31.7.23 1.8.22
£    £   
Cash and cash equivalents 4,230,599 4,071,998


DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2024


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.23 Cash flow At 31.7.24
£    £    £   
Net cash
Cash at bank and in hand 4,230,599 2,345,117 6,575,716
4,230,599 2,345,117 6,575,716
Debt
Finance leases (7,140 ) 7,140 -
Debts falling due within 1 year (199,967 ) (15,113 ) (215,080 )
Debts falling due after 1 year (1,209,039 ) 215,250 (993,789 )
(1,416,146 ) 207,277 (1,208,869 )
Total 2,814,453 2,552,394 5,366,847

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

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


1. STATUTORY INFORMATION

Don Valley Engineering Group 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 General 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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost for brick and steel construction, 5% on cost for other
Plant and machinery - 20% on cost, 10% on cost and Straight line over 3 years
Fixtures and fittings - Straight line over 3 years
Motor vehicles - 33% on reducing balance and Straight line over 3 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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.

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

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

Non-controlling interests
Minority interests in the net assets of consolidated subsidiaries are identified separately from the Group's equity. Minority interests consist of the amount of those interests at the date of the original business combination and the minority's share of changes in equity since the date of the combination.

The proportions of profit or loss and changes in equity allocated to the owners of the parent and to the minority interests are determined on the basis of existing ownership interests and do not reflect the possible exercise or conversion of options or convertible instruments.

Goodwill
Negative goodwill arising on consolidation of a subsidiary represents the difference between the fair value of consideration due and the fair value of the net assets on acquisition of the subsidiary. The net assets acquired relate primarily to current assets and current liabilities, with no material amount relating to fixed assets. Negative goodwill has been released to the income statement in line with the assets to which it relates, and all fell due in the accounting period in which the subsidiary was acquired.

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Contracts revenue 15,865,788 13,713,426
Maintenance and spares 1,452,788 2,868,914
17,318,576 16,582,340

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 15,416,693 14,478,799
Rest of world 1,901,883 2,103,541
17,318,576 16,582,340

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 4,275,177 4,294,761
Social security costs 413,823 367,127
Other pension costs 376,441 316,934
5,065,441 4,978,822

The average number of employees during the year was as follows:
2024 2023

Manufacturing & Erection 32 34
Management, Office & Technical 53 47
85 81

2024 2023
£    £   
Directors' remuneration 134,393 347,568
Directors' pension contributions to money purchase schemes 181,049 214,970

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

Money purchase schemes 5 5

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. OPERATING PROFIT

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

2024 2023
£    £   
Hire of plant and machinery 881,863 445,463
Other operating leases 140 3,383
Depreciation - owned assets 216,495 151,626
Profit on disposal of fixed assets (11,286 ) (5,361 )
Goodwill amortisation (14,685 ) (29,373 )
Auditors' remuneration 1,460 5,200
Auditors remuneration:
subsidiaries 33,706 16,730
Foreign exchange differences (644 ) -

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 75,548 86,178
Other interest payable 196 635
75,744 86,813

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 318,575 34,294
Underprovision in earlier year - (59,983 )
Total current tax 318,575 (25,689 )

Deferred tax 21,805 74,564
Tax on profit 340,380 48,875

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


7. TAXATION - continued

Reconciliation of total tax charge 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:

2024 2023
£    £   
Profit before tax 1,186,470 1,275,236
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 21 %)

296,618

267,800

Effects of:
Expenses not deductible for tax purposes (9,584 ) 5,690
Depreciation in excess of capital allowances 17,086 39,376
Utilisation of tax losses - (204,008 )
Adjustments to tax charge in respect of previous periods - (59,983 )
Unused tax losses 36,260 -
Total tax charge 340,380 48,875

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
2024 2023
£    £   
Ordinary A shares of 0.01 each
Interim 357,720 337,502
Ordinary B shares of 0.01 each
Interim 23,832 22,505
381,552 360,007

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 (146,864 )
AMORTISATION
At 1 August 2023 (132,179 )
Amortisation for year (14,685 )
At 31 July 2024 (146,864 )
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 (14,685 )

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2023 2,541,195 708,498 10,112 438,161 3,697,966
Additions 87,580 40,352 36,359 151,066 315,357
Disposals - (6,351 ) - (153,962 ) (160,313 )
At 31 July 2024 2,628,775 742,499 46,471 435,265 3,853,010
DEPRECIATION
At 1 August 2023 79,674 563,680 8,906 228,957 881,217
Charge for year 53,653 69,105 6,596 87,141 216,495
Eliminated on disposal - (5,704 ) - (102,015 ) (107,719 )
At 31 July 2024 133,327 627,081 15,502 214,083 989,993
NET BOOK VALUE
At 31 July 2024 2,495,448 115,418 30,969 221,182 2,863,017
At 31 July 2023 2,461,521 144,818 1,206 209,204 2,816,749

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


11. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 August 2023 2,541,195 10,111 2,551,306
Additions 87,580 36,359 123,939
At 31 July 2024 2,628,775 46,470 2,675,245
DEPRECIATION
At 1 August 2023 79,674 8,905 88,579
Charge for year 53,653 6,596 60,249
At 31 July 2024 133,327 15,501 148,828
NET BOOK VALUE
At 31 July 2024 2,495,448 30,969 2,526,417
At 31 July 2023 2,461,521 1,206 2,462,727

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


12. FIXED ASSET INVESTMENTS

Details of the investments in which the parent company has an interest of 20% or more are as follows:



Subsidiary Undertakings
Company
Registration
Number



Class of
Share


Percentage
of Shares
Held

Don Valley Engineering Company Limited 00439915 Ordinary £1 100%
Registered office: Sandall Stones Road, Kirk Sandall,
Doncaster DN3 1QR

Principal activity: Mechanical, Structural and General
Engineering


Don Valley Engineering Construction Limited 03856995 Ordinary £1 100%
Registered office: Sandall Stones Road, Kirk Sandall,
Doncaster DN3 1QR

Principal activity: Provision of site installation facilities

Cleeve Materials Handling Limited 06872446 Ordinary £1 100%
Registered office: Sandall Stones Road, Kirk Sandall,
Doncaster DN3 1QR

Principal activity: Bulk materials handling engineers

Don Valley Materials Handling Limited 12500721 Ordinary £1 51%
Registered office: Sandall Stones Road, Kirk Sandall,
Doncaster DN3 1QR

Principal activity: Bulk materials handling engineers

Don Valley Engineering Holdings Limited 07210081 Ordinary £1 100%
Registered office: Sandall Stones Road, Kirk Sandall,
Doncaster DN3 1QR

Principal activity: Dormant

Torver Engineering Limited 07103824 Ordinary £1 100%
Registered office: Sandall Stones Road, Kirk Sandall,
Doncaster DN3 1QR

Principal activity: Dormant

13. STOCKS

Group
2024 2023
£    £   
Stocks 593,050 551,629
Raw materials 10,003 9,773
Work-in-progress 110,899 158,058
713,952 719,460

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 4,800,003 2,961,124 - -
Amounts owed by group undertakings - - 1,443,342 5,875,574
Amounts recoverable on contract - 1,426,877 - -
Other debtors 1,528,355 - - 3,200
Tax 18,223 - - -
Prepayments 91,878 115,015 8,019 10,360
6,438,459 4,503,016 1,451,361 5,889,134

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 17) 215,080 199,967 81,646 77,856
Hire purchase contracts (see note 18) - 5,713 - -
Trade creditors 4,184,719 2,179,809 - 36,392
Amounts owed to group undertakings - - 1,163,470 8,233,634
Tax 345,940 34,296 97,871 -
Social security and other taxes 151,527 164,481 22,009 3,471
VAT 807,922 110,111 223,693 136,635
Other creditors 296,796 90,358 202,639 30,842
Payments on account 3,716,604 3,397,179 - -
Accruals and deferred income 1,754,541 1,224,876 75,590 234,405
11,473,129 7,406,790 1,866,918 8,753,235

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 17) 993,789 1,209,039 897,181 978,544
Hire purchase contracts (see note 18) - 1,427 - -
993,789 1,210,466 897,181 978,544

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


17. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 215,080 199,967 81,646 77,856
Amounts falling due between one and two years:
Bank loans - 1-2 years 182,243 215,113 85,635 81,678
Amounts falling due between two and five years:
Bank loans - 2-5 years 811,546 993,926 811,546 896,866

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 5,713
Between one and five years - 1,427
- 7,140

19. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 96,369 74,564 26,262 -

Group
Deferred
tax
£   
Balance at 1 August 2023 74,564
Provided during year 21,805
Balance at 31 July 2024 96,369

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


19. PROVISIONS FOR LIABILITIES - continued

Company
Deferred
tax
£   
Charge to Income Statement during year 26,262
Balance at 31 July 2024 26,262

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
7,500,000 Ordinary A 0.01 75,000 75,000
500,001 Ordinary B 0.01 5,000 5,000
80,000 80,000

Rights, preferences and restrictions

A Ordinary shares have the following rights, preferences and restrictions:
Each A ordinary shareholder has the right to vote, right to receive dividends and right to participate in a distribution on a return of capital.

B Ordinary shares have the following rights, preferences and restrictions:
Each B ordinary shareholder has the right to vote, right to receive dividends and right to participate in a distribution on a return of capital.

21. RESERVES

Group
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 August 2023 2,694,027 701,644 20,000 3,415,671
Profit for the year 951,163 951,163
Dividends (381,552 ) (381,552 )
Revaluation transfer 10,635 (10,635 ) - -
At 31 July 2024 3,274,273 691,009 20,000 3,985,282

DON VALLEY ENGINEERING GROUP LIMITED (REGISTERED NUMBER: 06389130)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


21. RESERVES - continued

Company
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 August 2023 1,671,360 701,644 20,000 2,393,004
Profit for the year 1,855,104 1,855,104
Dividends (381,552 ) (381,552 )
Revaluation transfer 10,635 (10,635 ) - -
At 31 July 2024 3,155,547 691,009 20,000 3,866,556


22. PENSION COMMITMENTS

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £376,441 (2023: £316,934).

23. ULTIMATE PARENT COMPANY

The group is controlled by its directors.

24. OTHER FINANCIAL COMMITMENTS

There is a cross guarantee and debenture in place between the company and five subsidiaries of the parent undertaking. Don Valley Engineering Company Limited, Don Valley Engineering Construction Limited, Cleeve Materials Handling Limited, Don Valley Engineering Holdings Limited and Don Valley Materials Handling Limited dated 27 March 2019. At the balance sheet date there was a total indebtedness to the group's bankers of £978,827 (2023: £1,056,400). Against this debt, at the balance sheet date the group had total cash deposits with the group's bankers of £6,575,716 (2023: £4,230,599).

25. RELATED PARTY DISCLOSURES

During the year the parent company charged £51,699 (2023: £37,206) in relation to rent and management charges to a sudsidiary, Don Valley Materials Handling Limited. At the end of the reporting period, the parent company was owed £45,327 (2023: £706,207) by Don Valley Materials Handling Limited.