Company registration number 02715034 (England and Wales)
DURAL (UK) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
DURAL (UK) LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
DURAL (UK) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
42,815
78,900
Current assets
Stocks
1,380,456
414,537
Debtors
5
986,542
1,289,196
Cash at bank and in hand
571,011
1,087,157
2,938,009
2,790,890
Creditors: amounts falling due within one year
6
(336,178)
(432,576)
Net current assets
2,601,831
2,358,314
Total assets less current liabilities
2,644,646
2,437,214
Provisions for liabilities
(4,000)
(6,000)
Net assets
2,640,646
2,431,214
Capital and reserves
Called up share capital
7
2,000
2,000
Share premium account
7,200
7,200
Profit and loss reserves
2,631,446
2,422,014
Total equity
2,640,646
2,431,214
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 1 May 2025
Mr Sebastian Maiworm
Director
Company registration number 02715034 (England and Wales)
DURAL (UK) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2023
2,000
7,200
2,185,719
2,194,919
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
236,295
236,295
Balance at 31 December 2023
2,000
7,200
2,422,014
2,431,214
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
209,432
209,432
Balance at 31 December 2024
2,000
7,200
2,631,446
2,640,646
DURAL (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Dural (UK) Limited is a private company limited by shares incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future based on the availability of group support and the transfer pricing agreement in place. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover comprises the value of sales (net of value added tax, similar taxes and trade discounts) of goods and services provided in the normal course of business. Turnover is recognised when the goods are dispatched, which is the same day on which goods are delivered and hence is the point at which the risk and rewards of ownership pass to the buyer.
1.4
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
10% on cost
Plant and equipment
10% on cost
Fixtures and fittings
15% on cost
Computers
50% on cost
Motor vehicles
33% on cost
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
DURAL (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Foreign exchange
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.
2
Change in accounting policy
The company changed stock cost policy from first in first out to average cost in the year. Prior year restatement of stock valuation has not been made on account of the fact that any difference in stock value as a result of the change in policy would be immaterial to the accounts.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
20
21
DURAL (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2024
58,903
42,099
17,011
67,073
19,937
205,023
Additions
3,538
646
1,344
5,528
At 31 December 2024
58,903
45,637
17,657
68,417
19,937
210,551
Depreciation and impairment
At 1 January 2024
40,422
32,776
13,093
19,895
19,937
126,123
Depreciation charged in the year
6,431
1,966
2,396
30,820
41,613
At 31 December 2024
46,853
34,742
15,489
50,715
19,937
167,736
Carrying amount
At 31 December 2024
12,050
10,895
2,168
17,702
42,815
At 31 December 2023
18,481
9,323
3,918
47,178
78,900
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
747,068
1,058,391
Corporation tax recoverable
34,029
Amounts owed by group undertakings
213,620
152,599
Other debtors
25,854
44,177
986,542
1,289,196
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
30,740
176,026
Corporation tax
71,108
57,090
Other taxation and social security
110,929
88,295
Other creditors
123,401
111,165
336,178
432,576
DURAL (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2,000
2,000
2,000
2,000
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its 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.
Senior Statutory Auditor:
Adrian Staniforth
Statutory Auditor:
BHP LLP
Date of audit report:
2 May 2025
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
90,634
146,568
10
Related party transactions
The company has taken advantage of exemption, as permitted by paragraph 1(A) of chapter 33 of FRS102, not to disclose related party transactions between group companies. Copies of the financial statements of Dural GmbH can be obtained by writing to Sudring 11, 56412 Ruppach-Goldhausen, Germany.
11
Parent company
Dural Beteiligungs GmbH, a company registered in Germany is the parent company and owns 100% (2023: 100%) of the issued share capital of the company via Dural International GmbH. The address of the parent company is Sudring 11, 56412 Ruppach-Goldhausen, Germany.