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REGISTERED NUMBER: 04719781 (England and Wales)














DYLEX LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






DYLEX LIMITED (REGISTERED NUMBER: 04719781)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DYLEX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: W R Ralls
N L Ralls





SECRETARY: W R Ralls





REGISTERED OFFICE: Ralls House Unit 3
Parklands Business Park
Forest Road
Denmead
Hampshire
PO7 6XP





REGISTERED NUMBER: 04719781 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

DYLEX LIMITED (REGISTERED NUMBER: 04719781)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 592,998 593,670
Investments 5 177,536 522
770,534 594,192

CURRENT ASSETS
Inventories 6 572,097 561,668
Debtors 7 183,217 471,984
Cash at bank 569,711 243,070
1,325,025 1,276,722
CREDITORS
Amounts falling due within one year 8 38,349 47,882
NET CURRENT ASSETS 1,286,676 1,228,840
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,057,210

1,823,032

CREDITORS
Amounts falling due after more than one
year

9

19,110

28,820
NET ASSETS 2,038,100 1,794,212

CAPITAL AND RESERVES
Called up share capital 12 15 15
Retained earnings 13 2,038,085 1,794,197
SHAREHOLDERS' FUNDS 2,038,100 1,794,212

DYLEX LIMITED (REGISTERED NUMBER: 04719781)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

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




W R Ralls - Director



N L Ralls - Director


DYLEX LIMITED (REGISTERED NUMBER: 04719781)

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

1. STATUTORY INFORMATION

Dylex Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Computer equipment - 33% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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

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 and loans to related parties and investments in non-puttable ordinary shares.

Trade and other 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

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade 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

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

Current or deferred taxation assets and liabilities are not discounted.

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


DYLEX LIMITED (REGISTERED NUMBER: 04719781)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 November 2023
and 31 October 2024 589,188 107,734 900 697,822
DEPRECIATION
At 1 November 2023 - 103,253 899 104,152
Charge for year - 672 - 672
At 31 October 2024 - 103,925 899 104,824
NET BOOK VALUE
At 31 October 2024 589,188 3,809 1 592,998
At 31 October 2023 589,188 4,481 1 593,670

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 November 2023 522
Additions 177,014
At 31 October 2024 177,536
NET BOOK VALUE
At 31 October 2024 177,536
At 31 October 2023 522

DYLEX LIMITED (REGISTERED NUMBER: 04719781)

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

5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Vista Blue Limited
Registered office:
Nature of business: Property development
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (3,296 ) (3,296 )

Oyster Pearl Limited
Registered office:
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00
31.5.24 31.5.23
£    £   
Aggregate capital and reserves - 131,837
(Loss)/profit for the year (296 ) 189,972

Ralls Holdings Limited
Registered office:
Nature of business: Management company
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (848 ) (848 )

Fareham Football Club Limited
Registered office:
Nature of business: Promoting a football club
%
Class of shares: holding
Ordinary 85.00
2024 2023
£    £   
Aggregate capital and reserves (546,048 ) (474,648 )
Loss for the year (71,400 ) (2,470 )

DYLEX LIMITED (REGISTERED NUMBER: 04719781)

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

5. FIXED ASSET INVESTMENTS - continued

Associated company

Multi Serv (Group) Limited
Registered office:
Nature of business: Holding Company
%
Class of shares: holding
Ordinary 50.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 3,497,458 3,427,809
Profit for the year 247,474 469,711

In October 2013 the shares in Comserv (UK) Limited and Multi Trade Supplies Limited were exchanged for shares in Multi Serv (Group) Limited. Dylex Limited now owns 50% of the holding company which is 100% owner of Comserv (UK) Limited and Multi Trade Supplies Limited.

In December 2023 Dylex Limited acquired 27 ordinary shares of £1 each in Multi Serv (Group) Limited.

6. INVENTORIES
2024 2023
£    £   
Work-in-progress 572,097 561,668

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 738 738
Amounts owed by group undertakings 3,125 -
Other debtors - 1,001
Other debtors 57,687 179,688
Directors' current accounts 109,520 282,197
Prepayments and accrued income 12,147 8,360
183,217 471,984

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12,338 9,662
Corporation tax 5,033 16,931
Social security and other taxes 145 71
VAT 3,318 5,778
Other creditors 687 -
Rent deposit 4,140 4,140
Accruals and deferred income 12,688 11,300
38,349 47,882

DYLEX LIMITED (REGISTERED NUMBER: 04719781)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 10) 19,110 28,820

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 19,110 28,820

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 19,110 28,820

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 19,110 28,820

Bank loans are secured by legal charge on freehold property and work in progress.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
15 Ordinary £1 15 15

13. RESERVES
Retained
earnings
£   

At 1 November 2023 1,794,197
Profit for the year 495,888
Dividends (252,000 )
At 31 October 2024 2,038,085

DYLEX LIMITED (REGISTERED NUMBER: 04719781)

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

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
G C Hailstones
Balance outstanding at start of year - 9,121
Amounts repaid - (9,121 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

W R Ralls
Balance outstanding at start of year 50,072 -
Amounts advanced 70,595 50,072
Amounts repaid (84,312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 36,355 50,072

N L Ralls
Balance outstanding at start of year 232,125 -
Amounts advanced 120,836 232,125
Amounts repaid (280,035 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 72,926 232,125

15. RELATED PARTY DISCLOSURES

Other income includes £120,000 (2023 £120,000) by way of management charges from Comserv UK Ltd.

Sponsorship includes £69,624.76 (2023 £14,094.67) paid to Fareham Football Club Ltd.

16. ULTIMATE CONTROLLING PARTY

The company has no ultimate controlling party.