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REGISTERED NUMBER: 01744820 (England and Wales)



















DACRYLATE PAINTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






DACRYLATE PAINTS LIMITED (REGISTERED NUMBER: 01744820)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 7


DACRYLATE PAINTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr M Townsend
Mrs S L Harte
Mrs E Butler
Mr M Butler





REGISTERED OFFICE: Dacrylate Ltd
Lindleys Lane
Kirkby-In-Ashfield
Nottingham
NG17 8AL





REGISTERED NUMBER: 01744820 (England and Wales)





AUDITORS: Johnson Tidsall Limited
Chartered Accountants
& Statutory Auditor
81 Burton Road
Derby
Derbyshire
DE1 1TJ

DACRYLATE PAINTS LIMITED (REGISTERED NUMBER: 01744820)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 826,085 818,054

CURRENT ASSETS
Stocks 5 1,309,672 1,775,503
Debtors 6 1,403,467 1,428,877
Cash at bank and in hand 1,661,108 1,020,474
4,374,247 4,224,854
CREDITORS
Amounts falling due within one year 7 1,005,287 1,103,122
NET CURRENT ASSETS 3,368,960 3,121,732
TOTAL ASSETS LESS CURRENT LIABILITIES 4,195,045 3,939,786

PROVISIONS FOR LIABILITIES 9 196,293 191,277
NET ASSETS 3,998,752 3,748,509

CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Retained earnings 11 3,988,752 3,738,509
SHAREHOLDERS' FUNDS 3,998,752 3,748,509

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by:





Mrs S L Harte - Director


DACRYLATE PAINTS LIMITED (REGISTERED NUMBER: 01744820)

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


1. STATUTORY INFORMATION

Dacrylate Paints 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The following judgements and estimates have had the most significant effect on amounts recognised in the financial statements:

Carrying value of stock - when calculating the stock provision, management considers the nature and condition of stock, together with the age of stock, and sales activity. A standard production rate is added into the value of finished goods.

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

Sale of goods
Turnover from the sale of paint is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - at varying rates on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance and 10% on reducing balance
Computer equipment - at varying rates on cost

Assets under construction are not depreciated until the asset is in use.

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

Raw materials are measured at purchase cost, on a first in first out basis.

Finished goods are measured at the purchase cost of direct materials plus a standard production rate.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


DACRYLATE PAINTS LIMITED (REGISTERED NUMBER: 01744820)

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


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Cash at bank and in hand
Cash is represented by cash in hand and deposits with financial institutions.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 49 ) .

DACRYLATE PAINTS LIMITED (REGISTERED NUMBER: 01744820)

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


4. TANGIBLE FIXED ASSETS
Assets Fixtures
under Plant and and
construction machinery fittings
£    £    £   
COST
At 1 January 2024 158,311 912,103 33,001
Additions 2,889 63,024 5,271
Disposals (5,070 ) - -
Reclassification/transfer (139,268 ) 131,513 -
At 31 December 2024 16,862 1,106,640 38,272
DEPRECIATION
At 1 January 2024 - 306,423 16,329
Charge for year - 85,737 4,188
Eliminated on disposal - - -
At 31 December 2024 - 392,160 20,517
NET BOOK VALUE
At 31 December 2024 16,862 714,480 17,755
At 31 December 2023 158,311 605,680 16,672

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 88,587 134,474 1,326,476
Additions 42,500 6,710 120,394
Disposals (63,333 ) - (68,403 )
Reclassification/transfer - 7,755 -
At 31 December 2024 67,754 148,939 1,378,467
DEPRECIATION
At 1 January 2024 87,110 98,560 508,422
Charge for year 408 15,182 105,515
Eliminated on disposal (61,555 ) - (61,555 )
At 31 December 2024 25,963 113,742 552,382
NET BOOK VALUE
At 31 December 2024 41,791 35,197 826,085
At 31 December 2023 1,477 35,914 818,054

DACRYLATE PAINTS LIMITED (REGISTERED NUMBER: 01744820)

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


5. STOCKS
2024 2023
£    £   
Raw materials 831,081 1,149,641
Finished goods 478,591 625,862
1,309,672 1,775,503

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,048,929 1,147,374
Amounts owed by group undertakings 222,931 182,064
Other debtors 410 -
Prepayments and accrued income 131,197 99,439
1,403,467 1,428,877

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 441,263 589,472
Amounts owed to group undertakings 15,571 15,571
Corporation tax 102,109 81,741
Social security and other taxes 24,031 28,482
VAT 182,019 153,184
Other creditors 2,583 5,190
Directors' current accounts 3,500 -
Accruals and deferred income 234,211 229,482
1,005,287 1,103,122

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 31,845 9,903
Between one and five years 46,972 23,108
78,817 33,011

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 196,293 191,277

DACRYLATE PAINTS LIMITED (REGISTERED NUMBER: 01744820)

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


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 191,277
Provided during year 5,016
Balance at 31 December 2024 196,293

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000

11. RESERVES
Retained
earnings
£   

At 1 January 2024 3,738,509
Profit for the year 322,581
Dividends (72,338 )
At 31 December 2024 3,988,752

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Mellor FCA (Senior Statutory Auditor)
for and on behalf of Johnson Tidsall Limited

13. RELATED PARTY DISCLOSURES

There is a balance of £222,931 (2023: £182,064) owing from a group company at the year-end. The amount has no fixed repayment terms and is interest-free.

There is a balance of £15,571 (2023: £15,571) owing to a group company at the year-end. The amount has no fixed repayment terms and is interest-free.

14. ULTIMATE PARENT COMPANY

The ultimate parent undertaking is Dacrylate Limited whose financial statements are filed with Companies House, Crown Way, Cardiff, CF14 3UZ. The registered office for Dacrylate Limited is the same as Dacrylate Paints Limited.