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REGISTERED NUMBER: 04008933 (England and Wales)















D G S (IRELAND) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






D G S (IRELAND) LIMITED (REGISTERED NUMBER: 04008933)

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 8


D G S (IRELAND) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Derek Aucott
David Aucott
Elizabeth Slocombe





SECRETARY: David Aucott





REGISTERED OFFICE: 4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF





REGISTERED NUMBER: 04008933 (England and Wales)





AUDITORS: Essex Abel Ltd (Statutory Auditors)
4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF

D G S (IRELAND) LIMITED (REGISTERED NUMBER: 04008933)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes €    €    €    €   
FIXED ASSETS
Tangible assets 5 66,568 26,514

CURRENT ASSETS
Stocks 318,001 296,936
Debtors 6 330,816 406,430
Cash at bank and in hand 427,205 422,000
1,076,022 1,125,366
CREDITORS
Amounts falling due within one year 7 711,491 654,354
NET CURRENT ASSETS 364,531 471,012
TOTAL ASSETS LESS CURRENT
LIABILITIES

431,099

497,526

PROVISIONS FOR LIABILITIES 2,417 101
NET ASSETS 428,682 497,425

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 8 428,681 497,424
SHAREHOLDERS' FUNDS 428,682 497,425

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 Profit & Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 3 June 2025 and were signed on its behalf by:





Derek Aucott - Director


D G S (IRELAND) LIMITED (REGISTERED NUMBER: 04008933)

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


1. STATUTORY INFORMATION

D G S (Ireland) Limited is a private limited company incorporated in England and Wales under the Companies Act. The address of the registered office is given in the company information section and its principal place of business is at Unit 1, Block 4, Westlink Industrial Estate, Kylemore Road, Dublin 10, Ireland.

The financial statements are presented in Euro's (€) and rounded to the nearest €.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in the accounting policies,
management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

a) Stock provisioning
At each reporting date judgement is used by management to establish the net realisable value of stock. Provisions are established for net realisable value where appropriate and are made based on the facts available at the time. The level of provision required is reviewed on an on-going basis.

In arriving at an estimate for the net realisable value of stock, judgement is required in assessing their likely value on realisation taking into account market and technological changes.

b) Providing for bad and doubtful debts
The company makes an estimate of the recoverable value of trade and other debtors. The company uses estimates based on historical experience in determining the level of debts, which the company believes, will not be collected. These estimates include such factors as the current credit rating of the debtor, the ageing profile of debtors and historical experience. Any significant reduction in the level of customers that default on payments or other significant improvements that resulted in a reduction in the level of bad debt provision would have a positive impact on the operating results. The level of provision required is reviewed on an on-going basis.

Revenue recognition
Turnover represents net invoiced sale of goods, excluding value added tax.

Revenue is recognised on the sale of goods when the significant risks and rewards of ownership of the goods have passed to the buyer and the amount of revenue can be measured reliably. Revenue on goods delivered is recognised when goods have been dispatched to the customer.

D G S (IRELAND) LIMITED (REGISTERED NUMBER: 04008933)

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


3. ACCOUNTING POLICIES - continued

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 - 25% on cost and 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell, and after making due allowance for obsolete and slow moving items.

The cost of stock is calculated on a first in first out basis and includes expenditure incurred in acquiring stock, production or conversion costs, and other costs incurred in bringing them to their existing location and condition. Stocks are recognised as an expense in the period in which the related revenue is recognised.

The stock was previously calculated on the weighted average cost principle.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price, in the ordinary course of business, less costs to complete and sell. The impairment provision is determined primarily by future demand forecasts. The write down is measured as the difference between the calculated cost of the stock and market based upon assumptions about future demand and charged to the provision for stock, which is a component of cost of sales.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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
Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exemptions. Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be
recovered against the reversal of deferred tax liabilities or other future taxable profits.


Deferred tax is measured using rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing differences.

D G S (IRELAND) LIMITED (REGISTERED NUMBER: 04008933)

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


3. ACCOUNTING POLICIES - continued

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

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

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

Trade and other debtors
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of debtors. The amount of the provision is determined as the difference between the asset's carrying amount and the present value of estimated future cash flows, and is recognised in the profit & loss in operating expenses.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

D G S (IRELAND) LIMITED (REGISTERED NUMBER: 04008933)

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


3. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities when applicable.

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

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, 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 financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Provisions for liabilities
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present
obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the
obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the
obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is
recognised as a finance cost in profit or loss in the period it arises.

The company recognises a provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

D G S (IRELAND) LIMITED (REGISTERED NUMBER: 04008933)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
€   
COST
At 1 January 2024 139,432
Additions 51,804
Disposals (26,000 )
At 31 December 2024 165,236
DEPRECIATION
At 1 January 2024 112,918
Charge for year 7,677
Eliminated on disposal (21,927 )
At 31 December 2024 98,668
NET BOOK VALUE
At 31 December 2024 66,568
At 31 December 2023 26,514

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
€    €   
Trade debtors 268,039 393,128
Amounts owed by group undertakings 26,227 26
Other debtors 36,550 13,276
330,816 406,430

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
€    €   
Trade creditors 11,559 16,342
Amounts owed to group undertakings 637,072 566,127
Taxation and social security 42,685 57,028
Other creditors 20,175 14,857
711,491 654,354

D G S (IRELAND) LIMITED (REGISTERED NUMBER: 04008933)

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


8. RESERVES
Retained
earnings
€   

At 1 January 2024 497,424
Deficit for the year (68,743 )
At 31 December 2024 428,681

Retained earnings - includes all current and prior retained period profits and losses of the company.

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

The Report of the Auditors was unqualified.

Mr Jason Mark Oram FCCA (Senior Statutory Auditor)
for and on behalf of Essex Abel Ltd (Statutory Auditors)

10. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of €237,554 (2023: €294,567).

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Barfield Holdings Ltd.

The ultimate controlling party is Barfield Holdings Ltd.

The ultimate parent company is under the control of the Aucott family.

A copy of the parent company and group consolidated accounts can be obtained from the registered office as detailed on the company information page.