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Registered number: 13097878









DOMINO INVESTMENTS HOLDINGS LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Directors
T J Childs 
J L Squire 
G E Hofer 




Company secretary
T J Childs



Registered number
13097878



Registered office
17 Aden Road
Enfield

Middlesex

England

EN3 7SU




Independent auditors
Barnes Roffe LLP
Chartered Accountants 
Statutory Auditor

Leytonstone House

3 Hanbury Drive

Leytonstone

London

E11 1GA





 
DOMINO INVESTMENTS HOLDINGS LIMITED
 

CONTENTS



Page
Group strategic report
 
1 - 4
Directors' report
 
5 - 6
Independent auditors' report
 
7 - 11
Consolidated statement of comprehensive income
 
12
Consolidated balance sheet
 
13 - 14
Company balance sheet
 
15
Consolidated statement of changes in equity
 
16
Company statement of changes in equity
 
17
Consolidated statement of cash flows
 
18 - 19
Consolidated analysis of net debt
 
20
Notes to the financial statements
 
21 - 44


 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024

Introduction
 
The company’s principal activities are the holding of investments in subsidiary companies.
The principal activity of the Group during the year was that of rolling and supplying metals with embossed patterns and a variety of finishes. The group also holds a number of properties which are let.

Business review
 
The results for the year are summarised on page 12 and detailed in full in the attached financial statements.
The directors are satisfied with the Group result for the year and are confident that with continued investment in plant and machinery the group position will continue to grow in the future.
The directors aim to present a balanced and comprehensive review of the development and performance of the group during the year and its position at the year end. The review is consistent with the size and non-complex nature of the group. The directors consider the key financial performance indicators to be net profit and net assets. Net profit provides a good measure of the performance of the group, whilst net assets demonstrate the financial strength of the group.
The profit for the year was £1,594,515 after tax, the Group ended the year with Net Assets of £32,721,663.

Principal risks and uncertainties
 
Risks to the Group are those being faced by most businesses at this time and include inflation, ensuring continuity of material supply and staff retention. The Board can report that it has prepared for these. 
The usual annual risks include currency fluctuations and alloy surcharges as well as environmental compliance, energy costs and the general economic climate. Currency fluctuations are managed with forward exchange contracts and by purchasing raw materials in foreign currencies when it is advantageous to do so. Compliance with chemical legislation is in place to secure the future of the Group’s Colour Plant operations, its product lines and relevant income streams. The Group employs consultants to advise and ensure that environmental compliance requirements are met.
The Group has a trade insurance policy in place to protect itself against bad debts.

Financial key performance indicators
 
Turnover, gross margin and stock levels are considered as the group’s financial key performance indicators. 
Stock levels must be kept in proportion to the order book.

Page 1

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024

Fixed assets
 
Details of movements in fixed assets are set out in note 15 to the financial statements.
The group's properties and certain classes of plant and machinery are held at valuation. The properties were revalued in the year ended 31 August 2022 and the plant and machinery classes were revalued in the year ended 31 August 2017.
Credit and liquidity risks
The group has limited exposure to credit risk by virtue of its client base. The directors recognises the importance of funding and liquidity under the current economic climate and will continue to monitor the group's financial resources to ensure that the company is able to support its activities and future growth.
Interest rate and cash flow risk
The group has both interest bearing assets and interest bearing liabilities. Interest bearing assets include cash balances, which attract interest at the prevailing market rate. Interest bearing liabilities include bank loans, overdrafts and obligations under finance lease and hire purchase contracts which attract interest at fixed rates.

Page 2

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024

Directors' statement of compliance with duty to promote the success of the Group
 
Under section 172 of the Companies Act 2006 the directors of the Group have a legal responsibility to act in the way we consider would be most likely to promote the Group’s success for the benefit of its members, and to have regard to the long-term effect of our decisions on the Group and its stakeholders. In doing so the directors must have regard to the following:
• the likely consequences of any decision in the long term;
• the interests of the Group’s employees;
• the need to foster relationships with suppliers, customers and others;
• the impact of the Group’s operations on the community and the environment;
• the desirability of the Group to maintain a reputation for high standards of business conduct and product quality; and
• the need to act fairly between members of the Group.
Our key stakeholders, and the ways in which we engage with them, are as follows:
Employment policy
The Group does not discriminate against anyone on any grounds. The criterion for selection or promotion is the suitability of the person for the job. Group policy is to provide employment to people irrespective of sex, age, religion, or disability. Appropriate levels of training and development are available for all levels and categories of staff.
Customers and suppliers
The Group is aware that our customers and suppliers are an important part of our operations. We strive to build longstanding and sustainable relationships with both to ensure mutual benefit, and to be honest and transparent in line with our Group culture. We treat customers and suppliers fairly.
Environment
The operations of the Group are managed subject to input from environmental permitting agencies which apply principles of continuous improvement alongside safety in the workplace and to the environment. The Group monitors its environmental impact in climate protection, energy management and waste avoidance standards and will continue to work to further reduce and or compensate for the effects and influences of its economic activities.
Standards of Business Conduct
The Group conducts its business in accordance with the law and has standards in place which must be adhered to by everyone who represents the Group. These standards embody the  principles that govern our ethical and legal obligations and comply with the Group's policies.
Other key performance indicators
Global events and economics, Brexit and war in Ukraine continue to cause uncertainty. The directors continue to take decisive action to manage and adapt to quickly changing circumstances. The Group has continued to invest in plant during 2023 and into 2024 to be able to capitalise on future opportunities.
The directors would like to thank staff, customers, and business partners for their continued support.

Page 3

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024


This report was approved by the board on 22 May 2025 and signed on its behalf.



T J Childs
Director

Page 4

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2024

The directors present their report and the financial statements for the year ended 31 August 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Results and dividends

The profit for the year, after taxation, amounted to £1,594,515 (2023 - £2,003,538).

During the year, the directors declared dividends of £539,116 (2023 - £812,335).
The directors do not recommend payment of a final dividend.

Directors

The directors who served during the year were:

T J Childs 
J L Squire 
G E Hofer 

Future developments

The directors will continue to ensure that the Group competes in the market with quality products and that the necessary facilities are avaliable to produce these and develop new products.

Page 5

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024

Research and development activities

The Group is involved in research and development activities aimed at discovering and creating new technology, constructing pre-production prototypes and developing new products.
During the year ended 31 August 2024 £109,323 
(2022 - £230,809) was spent on research and development costs.

Engagement with suppliers, customers and others

The Group is aware that our customers and suppliers are an important part of our operations. We strive to build longstanding and sustainable relationships with both to ensure mutual benefit, and to be honest and transparent in line with our Group culture. We treat customers and suppliers fairly.

Greenhouse gas emissions, energy consumption and energy efficiency action

The company has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Group since the year end.

Auditors

The auditorsBarnes Roffe LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 22 May 2025 and signed on its behalf.
 





T J Childs
Director

Page 6

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DOMINO INVESTMENTS HOLDINGS LIMITED
 

Opinion


We have audited the financial statements of Domino Investments Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 August 2024, which comprise the Consolidated statement of comprehensive income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe 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's affairs as at 31 August 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 United Kingdom, including the Financial Reporting Council'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 or 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.


Page 7

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DOMINO INVESTMENTS HOLDINGS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Opinion 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 Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


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 Directors' report.


We have nothing to report in respect of the following matters in relation to which 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.


Page 8

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DOMINO INVESTMENTS HOLDINGS LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 5, 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 is 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.


Page 9

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DOMINO INVESTMENTS HOLDINGS LIMITED (CONTINUED)


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 an Auditors' report 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 Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- We identified the laws and regulations applicable to the group through discussions with directors and other management, and from our commercial knowledge and experience of the relevant sector;
- We focused on specific laws and regulations, which we considered may have a direct material effect on the financial statements or the operations of the group, including the Companies Act 2006 and ISO standards;
- We assessed the extent of compliance with laws and regulations identified above through making enquires of management and inspecting legal correspondence and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- Making enquires of management as to where they considered there was susceptibility to fraud, their knowledge of actual suspected and alleged fraud; and
- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- Performed analytical procedures to identify and unusual or unexpected relationships;
- Tested journal entries to identify unusual transactions;
- Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- Investigated the rationale behind significant or unusual transactions.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial statements, the less likely it is that we would become aware of non-compliance.
Auditing standards also limit the audit procedures to identify non-compliance with laws and regulations to enquiry
Page 10

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DOMINO INVESTMENTS HOLDINGS LIMITED (CONTINUED)


of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect that those that arise from errors as they may involve deliberate concealment or 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 Auditors' report.


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 2006Our 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 an Auditors' report 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.





Adam Dodds (Senior statutory auditor)
for and on behalf of
Barnes Roffe LLP
Chartered Accountants
Statutory Auditor
Leytonstone House
3 Hanbury Drive
Leytonstone
London
E11 1GA

27 May 2025
Page 11

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2024

2024
2023
                                                                                                                      Note
£
£

  

Turnover
 4 
38,167,432
43,731,069

Cost of sales
  
(23,152,310)
(27,256,866)

Gross profit
  
15,015,122
16,474,203

Administrative expenses
  
(12,607,732)
(13,191,486)

Other operating income
 5 
146,945
134,521

Operating profit
 6 
2,554,335
3,417,238

Interest receivable and similar income
 9 
47,083
102,762

Interest payable and similar expenses
 10 
(474,524)
(607,709)

Profit before taxation
  
2,126,894
2,912,291

Tax on profit
 12 
(532,379)
(908,753)

Profit for the financial year
  
1,594,515
2,003,538

  

Unrealised deficit on revaluation of tangible fixed assets
  
(121,228)
(121,228)

Unrealised surplus on revaluation of intangible assets
  
30,307
30,307

Revaluation reserve exchange difference
  
76,600
(90,895)

Currency translation differences
  
(241,896)
(618,733)

Other comprehensive income for the year
  
(256,217)
(800,549)

Total comprehensive income for the year
  
1,338,298
1,202,989

Profit for the year attributable to:
  

Owners of the parent Company
  
1,594,515
2,003,538

  
1,594,515
2,003,538

The notes on pages 21 to 44 form part of these financial statements.

Page 12

 
DOMINO INVESTMENTS HOLDINGS LIMITED
REGISTERED NUMBER: 13097878

CONSOLIDATED BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
        
£
£

Fixed assets
  

Intangible assets
 14 
804,742
748,979

Tangible assets
 15 
27,711,039
27,180,311

  
28,515,781
27,929,290

Current assets
  

Stocks
 17 
6,749,701
8,592,415

Debtors: amounts falling due within one year
 18 
6,597,360
6,208,236

Cash at bank and in hand
 19 
5,273,218
5,014,040

  
18,620,279
19,814,691

Creditors: amounts falling due within one year
 20 
(8,523,940)
(9,775,460)

Net current assets
  
 
 
10,096,339
 
 
10,039,231

Total assets less current liabilities
  
38,612,120
37,968,521

Creditors: amounts falling due after more than one year
 21 
(1,779,073)
(2,044,027)

Provisions for liabilities
  

Deferred taxation
 24 
(4,111,384)
(4,123,241)

  
 
 
(4,111,384)
 
 
(4,123,241)

Net assets
  
32,721,663
31,801,253


Capital and reserves
  

Called up share capital 
 25 
100,002
100,002

Revaluation reserve
 26 
11,376,390
11,467,311

Profit and loss account
 26 
21,245,271
20,233,940

Equity attributable to owners of the parent Company
  
32,721,663
31,801,253

  
32,721,663
31,801,253


Page 13

 
DOMINO INVESTMENTS HOLDINGS LIMITED
REGISTERED NUMBER: 13097878
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 May 2025.




T J Childs
Director

The notes on pages 21 to 44 form part of these financial statements.

Page 14

 
DOMINO INVESTMENTS HOLDINGS LIMITED
REGISTERED NUMBER: 13097878

COMPANY BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
                                                                       Note
£
£

Fixed assets
  

Investments
 16 
195,002
195,002

  
195,002
195,002

Current assets
  

Debtors: amounts falling due within one year
 18 
6,280,808
4,117,834

Cash at bank and in hand
 19 
119,159
602,082

  
6,399,967
4,719,916

Creditors: amounts falling due within one year
 20 
-
(108,610)

Net current assets
  
 
 
6,399,967
 
 
4,611,306

Total assets less current liabilities
  
6,594,969
4,806,308

  

  

Net assets
  
6,594,969
4,806,308


Capital and reserves
  

Called up share capital 
 25 
100,002
100,002

Profit and loss account brought forward
  
4,706,306
3,557,477

Profit for the year
  
2,327,777
1,961,164

Other changes in the profit and loss account

  

(539,116)
(812,335)

Profit and loss account carried forward
  
6,494,967
4,706,306

  
6,594,969
4,806,308


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 May 2025.


T J Childs
Director

The notes on pages 21 to 44 form part of these financial statements.

Page 15

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 

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


Called up share capital
Revaluation reserve
Profit and loss account
Equity attributable to owners of parent Company
Total equity

£
£
£
£
£


At 1 September 2022
100,002
11,558,232
19,631,138
31,289,372
31,289,372



Profit for the year
-
-
2,003,538
2,003,538
2,003,538

Currency translation differences
-
-
(709,629)
(709,629)
(709,629)

Unrealised surplus on revaluation of tangible fixed assets
-
-
121,228
121,228
121,228

Excess depreciation on revalued tangible fixed assets transferred to the profit and loss account
-
(121,228)
-
(121,228)
(121,228)

Deferred tax on revalued tangible fixed assets
-
30,307
-
30,307
30,307

Dividends: Equity capital
-
-
(812,335)
(812,335)
(812,335)



At 1 September 2023
100,002
11,467,311
20,233,940
31,801,253
31,801,253



Profit for the year
-
-
1,594,515
1,594,515
1,594,515

Currency translation differences
-
-
(165,296)
(165,296)
(165,296)

Unrealised surplus on revaluation of tangible fixed assets
-
-
121,228
121,228
121,228

Deficit on revaluation of other fixed assets
-
(121,228)
-
(121,228)
(121,228)

Deferred tax on revalued tangible fixed assets
-
30,307
-
30,307
30,307

Dividends: Equity capital
-
-
(539,116)
(539,116)
(539,116)


At 31 August 2024
100,002
11,376,390
21,245,271
32,721,663
32,721,663


The notes on pages 21 to 44 form part of these financial statements.

Page 16

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 

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


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 September 2022
100,002
3,557,477
3,657,479



Profit for the year
-
1,961,164
1,961,164

Dividends: Equity capital
-
(812,335)
(812,335)



At 1 September 2023
100,002
4,706,306
4,806,308



Profit for the year
-
2,327,777
2,327,777

Dividends: Equity capital
-
(539,116)
(539,116)


At 31 August 2024
100,002
6,494,967
6,594,969


The notes on pages 21 to 44 form part of these financial statements.

Page 17

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
1,594,515
2,003,538

Adjustments for:

Amortisation of intangible assets
40,974
36,747

Depreciation of tangible assets
1,547,129
1,543,398

Interest paid
474,524
607,709

Interest received
(47,083)
(102,762)

Taxation charge
532,379
908,753

Decrease in stocks
1,842,714
5,005,160

(Increase)/decrease in debtors
(389,124)
1,015,280

Increase/(decrease) in creditors
701,468
(4,602,174)

Corporation tax (paid)
(1,110,046)
(923,501)

Deferred tax provided
(18,450)
105,699

Foreign Exchange
341,622
(127,144)

Net cash generated from operating activities

5,510,622
5,470,703


Cash flows from investing activities

Purchase of intangible fixed assets
(96,737)
(60,210)

Purchase of tangible fixed assets
(1,723,868)
(442,218)

Sale of tangible fixed assets
229,076
25,214

Interest received
47,083
102,762

HP interest paid
(113,137)
(107,301)

Net cash from investing activities

(1,657,583)
(481,753)
Page 18

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024


2024
2023

£
£



Cash flows from financing activities

Repayment of loans
(851,837)
(844,617)

Repayment of/new finance leases
(663,640)
(560,327)

Dividends paid
(539,116)
(812,335)

Interest paid
(361,387)
(500,408)

Net cash used in financing activities
(2,415,980)
(2,717,687)

Net increase in cash and cash equivalents
1,437,059
2,271,263

Cash and cash equivalents at beginning of year
2,482,172
210,909

Cash and cash equivalents at the end of year
3,919,231
2,482,172


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
5,273,218
5,014,040

Bank overdrafts
(1,353,987)
(2,531,868)

3,919,231
2,482,172


The notes on pages 21 to 44 form part of these financial statements.

Page 19

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 

CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 AUGUST 2024





At 1 September 2023
Cash flows
New finance leases
At 31 August 2024
£

£

£

£

Cash at bank and in hand

5,014,040

259,178

-

5,273,218

Bank overdrafts

(2,531,868)

1,177,881

-

(1,353,987)

Debt due after 1 year

(1,562,701)

319,427

-

(1,243,274)

Debt due within 1 year

(712,903)

532,410

-

(180,493)

Finance leases

(1,079,315)

663,640

(520,418)

(936,093)


(872,747)
2,952,536
(520,418)
1,559,371

The notes on pages 21 to 44 form part of these financial statements.

Page 20

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Domino Investments Holdings Limited ("the company") is a private company limited by shares, incorporated in the United Kingdom. Its registered office is 17 Aden Road, Enfield, Middlesex, EN3 7SU. 
The principal activity of the company is that of the holding of investments in subsidiary companies.
The principal activity of the group was that of rolling and supplying metals with embossed patterns and a variety of finishes. The group also holds a number of properties used in the trade.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

  
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
Where consideration for a subsidiary is an exchange of shares and only limited resources leave the group, merger accounting has been used as permitted under FRS102 section 19. Accordingly, the financial information for the current and prior periods has been presented as if Domino Investments Holdings Limited has always been the parent company of the group.

  
2.3

Going concern

The group meets its day-to-day working capital requirements through careful management of working capital positions. The group’s forecasts and projections, taking account of reasonably possible changes in trading performance, show that the group should be able to operate without other third party support. After making enquiries, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The group therefore continues to adopt the going concern basis in preparing its financial statements.

Page 21

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

  
2.4

Revenue

The group has the following main sources of revenue:
Domino Investments Holdings Limited 
The company's source of revenue is dividend income and bank interest. This is accounted for when received.
Domino Investments Limited
The company's source of revenue is from rental income from properties let to connected entities and other third parties. Sales invoices are raised monthly in arrears and are recognised in the accounting period in which the services are rendered.
The company also receives dividend income and bank interest. This is accounted for when received.
Rimex Metals (UK) Limited, Rimex Metals Materials Limited, EAP Metals Limited, Rimex Metals (USA) Inc, Rimex Metals (Deutschland) GmbH and Rimex Metals Australia PTY Limited ("the companies" for the purposes of this note)
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the companies and value added taxes.
The companies recognise revenue when: (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the companies retain no continuing involvement or control over the goods; (c) the amount of revenue can be measured reliably; (d) it is probable that future economic benefits will flow to the entity and (e) when the specific criteria relating to each of the companies' sales channels have been met, as described below:
(i) The companies produce surface finishes on stainless steel and other metals and provide these finished metals to both domestic and international customers. 
Revenue is recognised when the companies have despatched the metals to the customers. The risks and rewards of the product are considered to have been transferred to either the customer or to a third party when the products have been despatched from the companies' warehouses.
(ii) The companies also receive income on the sale of scrap metal. Revenue on the sale of the scrap metal is recognised when the companies have delivered the scrap metal to the customers. The risks and rewards of the product are considered to have been transferred to the customers when the products are delivered to the location specified by the customers and the customers have accepted the product.
All sales are normally made with credit terms, unless settled immediately in cash. The element of financing is deemed immaterial and disregarded in the measurement of revenue.
Rimex Metals Group Limited ("the company" for the purposes of this note)
The company recognises revenue when: (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the company retains no continuing involvement or control over the goods; (c) the amount of revenue can be measured reliably; (d) it is probable that future economic benefits will flow to the entity and (e) when the specific criteria relating to each of the company’s sales
Page 22

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

channels have been met, as described below:
(i) The company leases plant and machinery assets to other connected entities. The company recognises revenue in accordance with pre-agreed fixed term rates.
(ii)  Investment income is recognised on a received basis.
Rigidised Metals PTY Limited and Rimex Immobilien GmbH ("the companies" for the purposes of this note)
The companies source of revenue is from rental income from properties let to connected entities and other third parties. Sales invoices are raised monthly in arrears and are recognised in the accounting period in which the services are rendered.

 
2.5

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

 
2.6

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 23

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

  
2.7

Leased assets: the Group as lessee

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

  
2.8

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Consolidated statement of comprehensive income in the same period as the related expenditure.

 
2.9

Interest income

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

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Borrowing costs

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

 
2.12

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 24

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.14

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the profit and loss account over its estimated economic life.

 
2.15

Research and development costs

Staff, materials and other revenue costs incurred by the group on research and development of new products and processes are written off in the year in which they are expended. Fixed assets used for research and development purposes are capitalised in the balance sheet and depreciated over their expected useful lives

Page 25

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.16

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, Using the following methods.

Depreciation is provided on the following basis:

Freehold property
-
1% straight line
Long-term leasehold property
-
straight line over the unexpired lease term
Plant and machinery
-
6.67% straight line
Motor vehicles
-
33.3% reducing balance
Fixtures and fittings
-
15% reducing balance
Office equipment
-
20% straight line
Computer equipment
-
20% straight line
Other fixed assets
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Freehold land is not depreciated.

 
2.17

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.18

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 26

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.19

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.20

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.21

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.22

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.23

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 27

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

  
2.24

Financial instruments

The Group 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, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
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 objective evidence of impairment is found, an impairment loss is recognised in the Consolidated statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

 
2.25

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.26

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

  
2.27

Related party transactions

The group and company discloses transactions with related parties which are not wholly owned within the same group. Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the directors, separate disclosure is necessary to understand the effect of the transaction on the group financial statements.

Page 28

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

  
2.28

Employee benefits

The group provides a range of benefits to employees, including paid holiday arrangements and a defined contribution pension plan.
(i) Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.
(ii) Defined contribution pension plans
The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the group in an independently administered fund.
(iii) Termination benefits
The group is committed, by legislation and/or contractual obligations, to make payments to employees when the group terminates their employment. Such payments are termination benefits. Because termination benefits do not provide the group with future economic benefits, the group recognises these as an expense in the consolidated statement of comprehensive income immediately. The group will only recognise termination benefits as a liability and an expense when the group is demonstrably committed to terminate the employment of an employee or group of employees before the normal retirement date.

Page 29

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments 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.
Critical judgments in applying the entity’s accounting policies
No significant judgments have had to be made by management in preparing these financial statements.
Critical accounting estimates and assumptions
(i) Useful economic lives of tangible assets 
The annual depreciation charge for tangible fixed assets is sensitive to changes in estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on the technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 15 for the carrying amount of the fixed assets, and note 2.16 for useful economic lives for each class of assets.
(ii) Stock provision 
The company establishes stock provisions based on knowledge of the business, the nature of the product and future sales orders. The amounts shown in note 17 are net of any associated provisions.


4.


Turnover

The whole of the turnover is attributable to the principal activites of the group.
An analysis of turnover by geographical area is not given as, in the opinion of the directors, such disclosure would be seriously prejudical to the interest of the group.

All turnover arose within the United Kingdom.


5.


Other operating income

2024
2023
£
£

Rent
146,945
134,521

146,945
134,521


Page 30

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Operating profit

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

2024
2023
£
£

Depreciation of tangible fixed assets
1,531,697
1,515,305

UK group auditor's remuneration
50,000
50,000

UK auditor's non-audit services
7,350
7,350

(Loss)/profit on disposal on tangible fixed assets
(54,193)
(8,448)

Exchange differences
(41,602)
(26,292)

Other operating lease rentals - land and buildings
260,255
134,821

Amortisation of intangible fixed assets
40,974
36,747


7.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
2024
2023
£
£


Wages and salaries
6,647,937
7,615,143

Social security costs
628,703
692,696

Cost of defined contribution scheme
456,440
493,347

7,733,080
8,801,186


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2024
        2023
        2024
        2023
            No.
            No.
            No.
            No.









Production
73
73
-
-



Distribution
28
33
-
-



Office and administration
21
28
3
5

122
134
3
5

Page 31

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
349,365
341,367

Group contributions to defined contribution pension schemes
45,498
41,368

394,863
382,735


During the year retirement benefits were accruing to 3 directors (2023 - 3) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £255,749 (2023 - £235,630).

The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £10,000 (2023 - £7,557).


9.


Interest receivable

2024
2023
£
£


Other interest receivable
47,083
102,762

47,083
102,762


10.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
361,387
500,408

Finance leases and hire purchase contracts
113,137
107,301

474,524
607,709

Page 32

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

11.


Research and development expenditure

2024
2023
£
£

Non-staff costs


Material costs
26,650
75,651

Consultancy costs
2,886
13,080

29,536
88,731

Staff costs


Wages and salaries
64,993
115,614

Social security costs
7,956
14,537

Other pension costs
6,838
11,927

79,787
142,078


12.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
185,083
79,993

Adjustments in respect of previous periods
(24,208)
-

Tax on overseas income
353,054
934,459


513,929
1,014,452


Total current tax
513,929
1,014,452

Deferred tax


Origination and reversal of timing differences
18,450
(105,699)

Total deferred tax
18,450
(105,699)


Tax on profit
532,379
908,753
Page 33

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
 
12.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 21.5%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
2,126,894
2,912,291


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 21.5%)
531,724
626,143

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
20,028
7,774

Capital allowances for year in excess of depreciation
131,112
102,089

Deferred taxation
18,450
(105,699)

Research and development claim
(23,505)
(41,830)

Adjustments to tax charge in respect of prior periods
(24,208)
-

Other differences leading to an increase (decrease) in the tax charge
(121,222)
320,276

Total tax charge for the year
532,379
908,753


13.


Dividends

2024
2023
£
£


Dividends payable on equity capital
539,116
812,335

539,116
812,335

Page 34

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

14.


Intangible assets

Group and Company





Negative goodwill
Software
Goodwill
Total

£
£
£
£



Cost


At 1 September 2023
2,483
879,697
403,334
1,285,514


Additions
-
96,737
-
96,737



At 31 August 2024

2,483
976,434
403,334
1,382,251



Amortisation


At 1 September 2023
2,483
130,718
403,334
536,535


Charge for the year on owned assets
-
40,974
-
40,974



At 31 August 2024

2,483
171,692
403,334
577,509



Net book value



At 31 August 2024
-
804,742
-
804,742



At 31 August 2023
-
748,979
-
748,979

The company holds no intangible assets.



Page 35

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

15.


Tangible fixed assets

Group






Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 September 2023
17,035,390
21,748,397
487,519
2,207,855
41,479,161


Additions
338,072
1,521,276
333,339
51,599
2,244,286


Disposals
-
-
(331,464)
(71,239)
(402,703)


Exchange adjustments
78,433
(50,041)
501
(16,693)
12,200



At 31 August 2024

17,451,895
23,219,632
489,895
2,171,522
43,332,944



Depreciation


At 1 September 2023
275,274
12,452,403
280,424
1,290,749
14,298,850


Charge for the year on owned assets
233,783
935,291
91,467
209,500
1,470,041


Charge for the year on financed assets
-
62,501
-
-
62,501


Disposals
-
-
(227,820)
-
(227,820)


Exchange adjustments
(8,424)
17,682
254
8,821
18,333



At 31 August 2024

500,633
13,467,877
144,325
1,509,070
15,621,905



Net book value



At 31 August 2024
16,951,262
9,751,755
345,570
662,452
27,711,039



At 31 August 2023
16,760,116
9,295,994
207,095
917,106
27,180,311

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


2024
2023
£
£



Plant and machinery
1,654,741
2,557,648

Motor vehicles
-
121,681

1,654,741
2,679,329

Page 36

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
The freehold property in the United Kingdom was revalued by Glenny LLP, Chartered Surveyors, on 31 January 2022. The long term leasehold property was revalued by Towler Shaw Roberts LLP, Chartered Surveyors, on 31 January 2022.
The freehold property in Australia was revalued by MJD Valuers, a member of the Australian Property Institute, on 8 February 2022. 
The freehold property in Germany was revalued by Werttax Immobilienbewertung GmbH, a member of the German Property institute, on 3 August 2022.
The directors do not believe that the valuation of the freehold properties has materially changed from the date of valuation.
In previous years the group revalued certain plant and machinery classes. The plant and machinery classes were revalued by Marriott Valuers Limited T/A Marriott & Co., Chartered Surveyors, on 27 September and 3 October 2017, respectively.

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£

Group


Cost
7,320,853
6,729,670

Accumulated depreciation
(766,040)
(810,237)

Net book value
6,554,813
5,919,433

If the plant and machinery had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£

Group


Cost
21,389,421
19,918,187

Accumulated depreciation
(12,717,493)
(11,840,929)

Net book value
8,671,928
8,077,258

Page 37

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

16.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 September 2023
195,002



At 31 August 2024
195,002





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Holding

Rimex Metals Group Limited*
England
100%
Rimex Metals (UK) Limited
England
100%
Rimex Metals Materials Limited
England
100%
Rimex Metals (Deutschland) GmbH
Germany
100%
Rimex Metals (Australia) Pty Limited
Australia
100%
EAP Metals Limited
England
100%
Rigidized Metals Limited
England
100%
Rigitex Metals Corporation Limited
England
100%
Rigidised Metals Pty Limited
Australia
100%
Rimex Metals (USA) Inc
U.S.A
100%
Rimex Immobilien GmbH
Germany
100%
Domino Investments Limited*
England
100%

*Directly held by Domino Investments Holdings Limited 


17.


Stocks

Group
Group
2024
2023
£
£

Raw materials and consumables
4,615,008
7,026,608

Finished goods and goods for resale
2,134,693
1,565,807

6,749,701
8,592,415


Page 38

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

18.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
4,976,192
4,645,986
-
-

Amounts owed by group undertakings
-
-
6,280,808
4,117,834

Other debtors
483,139
183,107
-
-

Prepayments and accrued income
1,138,029
1,379,143
-
-

6,597,360
6,208,236
6,280,808
4,117,834



19.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
5,273,218
5,014,040
119,159
602,082

Less: bank overdrafts
(1,353,987)
(2,531,868)
-
-

3,919,231
2,482,172
119,159
602,082



20.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank overdrafts
1,353,987
2,531,868
-
-

Bank loans
178,981
711,391
-
-

Trade creditors
4,272,387
3,857,635
-
-

Amounts owed to group undertakings
-
-
-
108,610

Corporation tax
202,586
247,588
-
-

Other taxation and social security
208,412
338,583
-
-

Obligations under finance lease and hire purchase contracts
400,294
597,989
-
-

Other creditors
158,743
122,004
-
-

Accruals and deferred income
1,748,550
1,368,402
-
-

8,523,940
9,775,460
-
108,610


Page 39

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

21.


Creditors: Amounts falling due after more than one year

Group
Group
2024
2023
£
£

Bank loans
1,243,274
1,562,701

Net obligations under finance leases and hire purchase contracts
535,799
481,326

1,779,073
2,044,027




Page 40

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

22.


Loans


Analysis of the maturity of loans is given below:


Group
Group
2024
2023
£
£

Amounts falling due within one year

Bank loans
178,981
711,391


Amounts falling due 2-5 years

Bank loans
677,077
1,342,610

Amounts falling due after more than 5 years

Bank loans
566,197
220,091

1,422,255
2,274,092


During 2014 a new loan of £900,000 was taken. This loan is repayable over 15 years from January 2014 and is secured by a first legal charge over one of the freehold properties held by Domino Investments Limited. The interest rate chargeable is 1.66% over base rate.
During 2019 a new loan of £3,100,000 was taken. This loan is repayable over 15 years from January 2019 and is secured by a first legal charge over the freehold properties held by Domino Investments Limited. The interest rate is 2.75% over LIBOR.
During 2019 a new loan of £498,000 was taken. This loan is repayable over 5 years from September 2018 and is secured by a first legal charge over one of the freehold properties held by Domino Investments Limited. The interest rate is 2.5% over LIBOR. Subsequent to the year end, a new loan was taken for an amount of £373,500. The loan is repayable over 5 years from October 2023. The interest rate is 2% over the Bank of England base rate.
There is a Euro loan secured by a first legal charge over another freehold property held by Domino Investments Limited. It is repayable over 20 years from 14th January 2005. The interest rate chargeable is 1.4% over 3 month Libor.
A loan is secured by a fixed and floating charge over the assets of Rigidised Metals Pty Limited and Rimex Metals (Australia) Pty Limited.
Other bank borrowings are secured by debentures over other group assets.

Page 41

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

23.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
2024
2023
£
£

Within one year
400,294
597,989

Between 1-5 years
535,799
481,326

936,093
1,079,315

Net obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.


24.


Deferred taxation


Group



2024
2023


£

£






At beginning of year
(4,123,241)
(4,259,246)


Charged to profit or loss
(68,563)
105,698


Charged to other comprehensive income
30,307
30,307


Utilised in year
50,113
-



At end of year
(4,111,384)
(4,123,241)







The provision for deferred taxation is made up as follows:

Group
Group
2024
2023
£
£

Accelerated capital allowances
(1,556,010)
(1,567,867)

Deferred tax on revalued plant and machinery
(341,742)
(341,742)

Deferred tax on revalued properties
(2,213,632)
(2,213,632)

(4,111,384)
(4,123,241)

Page 42

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

25.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



20,002 (2023 - 20,002) Ordinary shares of £1.00 each
20,002
20,002
500 (2023 - 500) Ordinary A shares of £1.00 each
500
500
26,500 (2023 - 26,500) Ordinary B shares of £1.00 each
26,500
26,500
26,500 (2023 - 26,500) Ordinary C shares of £1.00 each
26,500
26,500
26,500 (2023 - 26,500) Ordinary D shares of £1.00 each
26,500
26,500

100,002

100,002

During the prior year, 80,000 ordinary shares were redesignated into 500 Ordinary A shares, 26,500 Ordinary B shares, 26,500 Ordinary C shares and 26,500 Ordinary D shares at the par value of £1 per share.
Ordinary A shares have no rights in respect of voting or capital distribution. The shares have a right to a fixed cumulative preferential dividend. Upon the death of a holder the Ordinary A shares will be converted to Deferred shares.
Ordinary, Ordinary B, Ordinary C and Ordinary D shares have full and equal rights in respect of voting, dividends and capital distributions. 



26.


Reserves

Revaluation reserve

The revaluation reserve represents cumulative revaluations of freehold and long term leasehold properties, less the associated deferred tax adjustment in accordance with FRS102.

Profit and loss account

The profit and loss account represents cumulative distributable profits and losses net of dividends and other adjustments.


27.


Pension commitments

The group has a Group Personal Pension Scheme for staff. The assets of this defined contribution scheme are held separately from the group being invested with an insurance company. The pension cost represents contributions payable for the year of £292,098 (2023 - £256,641). Contributions totalling £11,827 were outstanding at the balance sheet date (2023 - £20,622).
The Group also operates a defined contribution scheme for the Directors. The assets of the scheme are held separately from the group being invested in a trustee administered fund. The pension cost represents contributions payable for the year of £31,960 
(2023 - £31,170). Contributions totalling £608 were outstanding at the balance sheet date (2023 - £761).

Page 43

 
DOMINO INVESTMENTS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

28.


Commitments under operating leases

At 31 August 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2024
2023
£
£

Not later than 1 year
182,216
180,401

Later than 1 year and not later than 5 years
1,424,220
360,803

Later than 5 years
3,092,798
-

4,699,234
541,204

The company had no commitments under operating leases.


29.


Related party transactions

The directors had an interest in dividends paid during the year of £539,116 (2023 - £812,335).
The group has taken advantage of the exemption, under FRS 102 paragraph 1.12 and paragraph 33.1A, from disclosing other related party transactions as they are with other companies that are wholly owned within the group.


30.


Controlling party

The ultimate controlling party is Mr T Childs by virtue of his role as managing director. 

 
Page 44