Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-31792024-04-01false77falsefalsefalse 00626600 2024-04-01 2025-03-31 00626600 2023-04-01 2024-03-31 00626600 2025-03-31 00626600 2024-03-31 00626600 2023-04-01 00626600 1 2024-04-01 2025-03-31 00626600 1 2023-04-01 2024-03-31 00626600 5 2024-04-01 2025-03-31 00626600 5 2023-04-01 2024-03-31 00626600 6 2024-04-01 2025-03-31 00626600 6 2023-04-01 2024-03-31 00626600 d:CompanySecretary1 2024-04-01 2025-03-31 00626600 d:Director1 2024-04-01 2025-03-31 00626600 d:Director1 2025-03-31 00626600 d:Director2 2024-04-01 2025-03-31 00626600 d:Director2 2025-03-31 00626600 d:Director5 2024-04-01 2025-03-31 00626600 d:Director6 2024-04-01 2025-03-31 00626600 d:Director7 2024-04-01 2025-03-31 00626600 d:Director7 2025-03-31 00626600 d:RegisteredOffice 2024-04-01 2025-03-31 00626600 e:Buildings 2024-04-01 2025-03-31 00626600 e:Buildings 2025-03-31 00626600 e:Buildings 2024-03-31 00626600 e:Buildings e:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 00626600 e:Buildings e:LongLeaseholdAssets 2024-04-01 2025-03-31 00626600 e:PlantMachinery 2024-04-01 2025-03-31 00626600 e:PlantMachinery 2025-03-31 00626600 e:PlantMachinery 2024-03-31 00626600 e:PlantMachinery e:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 00626600 e:MotorVehicles 2024-04-01 2025-03-31 00626600 e:MotorVehicles 2025-03-31 00626600 e:MotorVehicles 2024-03-31 00626600 e:MotorVehicles e:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 00626600 e:FurnitureFittings 2024-04-01 2025-03-31 00626600 e:FurnitureFittings 2025-03-31 00626600 e:FurnitureFittings 2024-03-31 00626600 e:FurnitureFittings e:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 00626600 e:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 00626600 e:Goodwill 2025-03-31 00626600 e:Goodwill 2024-03-31 00626600 e:CurrentFinancialInstruments 2025-03-31 00626600 e:CurrentFinancialInstruments 2024-03-31 00626600 e:CurrentFinancialInstruments e:WithinOneYear 2025-03-31 00626600 e:CurrentFinancialInstruments e:WithinOneYear 2024-03-31 00626600 e:UKTax 2024-04-01 2025-03-31 00626600 e:UKTax 2023-04-01 2024-03-31 00626600 e:ShareCapital 2024-04-01 2025-03-31 00626600 e:ShareCapital 2025-03-31 00626600 e:ShareCapital 2024-03-31 00626600 e:ShareCapital 2023-04-01 00626600 e:SharePremium 2024-04-01 2025-03-31 00626600 e:SharePremium 2025-03-31 00626600 e:SharePremium 2024-03-31 00626600 e:SharePremium 2023-04-01 00626600 e:CapitalRedemptionReserve 2024-04-01 2025-03-31 00626600 e:CapitalRedemptionReserve 2025-03-31 00626600 e:CapitalRedemptionReserve 2024-03-31 00626600 e:CapitalRedemptionReserve 2023-04-01 00626600 e:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 00626600 e:RetainedEarningsAccumulatedLosses 2025-03-31 00626600 e:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 00626600 e:RetainedEarningsAccumulatedLosses 2024-03-31 00626600 e:RetainedEarningsAccumulatedLosses 2023-04-01 00626600 d:OrdinaryShareClass1 2024-04-01 2025-03-31 00626600 d:OrdinaryShareClass1 2025-03-31 00626600 d:OrdinaryShareClass1 2024-03-31 00626600 d:FRS102 2024-04-01 2025-03-31 00626600 d:Audited 2024-04-01 2025-03-31 00626600 d:FullAccounts 2024-04-01 2025-03-31 00626600 d:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 00626600 e:Subsidiary1 2024-04-01 2025-03-31 00626600 e:Subsidiary1 1 2024-04-01 2025-03-31 00626600 e:Subsidiary2 2024-04-01 2025-03-31 00626600 e:Subsidiary2 1 2024-04-01 2025-03-31 00626600 e:Subsidiary3 2024-04-01 2025-03-31 00626600 e:Subsidiary3 1 2024-04-01 2025-03-31 00626600 e:Subsidiary4 2024-04-01 2025-03-31 00626600 e:Subsidiary4 1 2024-04-01 2025-03-31 00626600 e:Subsidiary5 2024-04-01 2025-03-31 00626600 e:Subsidiary5 1 2024-04-01 2025-03-31 00626600 e:WithinOneYear 2025-03-31 00626600 e:WithinOneYear 2024-03-31 00626600 e:MoreThanFiveYears 2025-03-31 00626600 e:MoreThanFiveYears 2024-03-31 00626600 e:AcceleratedTaxDepreciationDeferredTax 2025-03-31 00626600 e:AcceleratedTaxDepreciationDeferredTax 2024-03-31 00626600 e:OtherDeferredTax 2025-03-31 00626600 e:OtherDeferredTax 2024-03-31 00626600 2 2024-04-01 2025-03-31 00626600 6 2024-04-01 2025-03-31 00626600 f:PoundSterling 2024-04-01 2025-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00626600










D.K. HOLDINGS LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

 
D.K. HOLDINGS LIMITED
 

COMPANY INFORMATION


DIRECTORS
J P Emptage (appointed 1 April 2024)
A J Gentle 
D M Mills 




COMPANY SECRETARY
D M Mills



REGISTERED NUMBER
00626600



REGISTERED OFFICE
Station Approach

Staplehurst

Kent

TN12 0QN




INDEPENDENT AUDITOR
Kreston Reeves LLP
Chartered Accountants & Statutory Auditor

37 St Margaret's Street

Canterbury

Kent

CT1 2TU





 
D.K. HOLDINGS LIMITED
 

CONTENTS



Page
Strategic report
1 - 2
Directors' report
3 - 4
Directors' responsibilities statement
5
Independent auditor's report
6 - 9
Statement of comprehensive income
10
Balance sheet
11
Statement of changes in equity
12
Statement of cash flows
13
Notes to the financial statements
14 - 30


 
D.K. HOLDINGS LIMITED
 

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025

INTRODUCTION
 
The directors' submit their strategic report of D.K. Holdings Limited for the year ended 31 March 2025.

BUSINESS REVIEW
 
REVIEW OF DEVELOPMENTS DURING THE YEAR
Due to lower turnover the company’s pre-tax profits fell compared to last year, although investments in Plant & Machinery continued including two new more efficient boilers for the front factory.
The new solar panels continued producing 259,453 kWh. See https://monitoringpublic .solaredge.com/solaredge -web/p/kiosk ?guid=528a8a53-309c -4317-98b5-bef1455d3165
The Company has undertaken it’s fourth annual Carbon Footprint Report, with our tCO2e of 327 in 2021/22 falling to 304 in 2022/23, 292 for Scope 1 + Scope 2 in 2023/24 and 260 this year. Compared with the number of jobs completed on the shop floor of 10,358 (2021/22), 10,036 (2022/23), 9,331 (2023/24) and 9,274 for this year. See LowCarboncert (dk-holdings.co.uk)
In addition, we had at least 175 trees planted by the Green Organisation in our initial year of membership followed by a further 700 at least last year, this year a further 369 trees have been planted. The-Green-Org-Tree-Planting.pdf (dk-holdings.co.uk) This offsets a further 4 tCO2e bringing the new annual figure for scope 1 & 2 to 256 tCO2e.
The-Green-Organisation-Certificate-of-Platinum-Membership-Oct-2023.pdf (dk-holdings.co.uk)
Also, by joining Carbon Neutral Britain (Carbon Neutral Certification - D.K. Holdings Limited) and offsetting our yearly emissions we are now Carbon Neutral.
Follow us on LinkedIn https://www.linkedin .com/company/dk-holdings -limited.
REVIEW OF POSITION AT END OF YEAR
The balance sheet has been re-aligned due to the buyback of shares.

Page 1

 
D.K. HOLDINGS LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

PRINCIPAL RISKS AND UNCERTAINTIES
 
The directors continually monitor and manage the risks and uncertainties of the business which include:
a) Britain’s exit from the European Union.
b) The continuing conflict in Ukraine and the Middle East and subsequent effect on supply chains and costs.
c) Energy costs.
d) Competition.
e)      Global warming/Climate change
f)       Global economic uncertainty following various trade tariffs. 
g) Fluctuations in the values of foreign currencies.
h)       Increasing possibility of Bad Debts.
i)        Possible external influences incl. AI.
j) Continuous improvement in the following areas:
 I. Health, safety and welfare of our employees.
 II. Customer service, including timely deliveries and product quality.
 III. Environmental and Social Governance.

FINANCIAL KEY PERFORMANCE INDICATORS
 
The company’s financial key performance indicators remain movements in net current assets and shareholders' funds. The net current assets shrank by 58.4% in the year and Shareholders' funds fell by 41.4%, both following the buyback of shares. Although the average share value has risen.

GOING CONCERN ASSESSMENT

Following a 6% price increase to customers on 1st April 2025 no events or conditions have been identified that may individually or collectively, cast significant doubt on our ability to continue as a going concern.


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





A J Gentle
Director
Date: 19 August 2025

Page 2

 
D.K. HOLDINGS LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company during the year was the manufacture and distribution of diamond tools and associated products including machinery and equipment.

RESULTS AND DIVIDENDS

Following the retirement of Mr & Mrs Salter (including the BAHD Pension Fund) the company bought back the 1,705 shares for a value of £3,111,625.
The loss for the year, after taxation, amounted to £8,246
 (2024 - profit £126,295), this does not include the £3,111,625 for the buy back of shares during the year.

No dividend payments were made during the year (2024 - none).

DIRECTORS

The directors who served during the year were:

B E Salter (retired 17 October 2024)
J P Emptage (appointed 1 April 2024)
A J Gentle 
D M Mills 
D L Salter (retired 17 October 2024)

FUTURE DEVELOPMENTS

The company will continue to take necessary measures to protect the health and wellbeing of its employees, to preserve its financial strength and to build for the future including the ongoing appointment of an HR competent person service and participation in Health Assured’s Employee Assistance Programme.
The company will continue to strive to reduce our Carbon Footprint, working with EcoVadis to prove our commitment to Environmental, Social and Governance. In addition, by joining Carbon Neutral Britain (Carbon Neutral Certification - D.K. Holdings Limited) and offsetting our yearly emissions we are now Carbon Neutral.

EVENTS SINCE THE END OF THE YEAR
Several investments have been committed to including a new Alpha lathe, a refurb of our Effluent Pit and an upgrade to the heating distribution system.
A rise in costs following increases in the National Minimum Wage and the National Living Wage will be challenging in the forthcoming year. As well as increases in Employers National Insurance.
Global economic uncertainty remains and intensifies due to worldwide conflict including trade tariffs.
A 6% price increase to customers on 1st April 2025 was deemed necessary.
We will be exhibiting at the JEC show in Paris in March 2026. 

Page 3

 
D.K. HOLDINGS LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL INSTRUMENTS

The company's principal financial instruments comprise bank balances in sterling, euros and US dollars, trade debtors and trade creditors. The main purpose of these instruments is to finance the company's operations.  
The bank balances are closely monitored.
The policy relating to foreign currency translations is detailed at note 2.7 to these Financial Statements. 
The company does not speculate on exchange rate movements and considers that the financial risks associated with subsequent fluctuations are both acceptable and containable. 
Trade debtors are managed by credit risk policies which include the close monitoring of outstanding debts and regular reviews of the credit limits. 
Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

DISCLOSURE OF INFORMATION TO AUDITOR

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's auditor is 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's auditor is aware of that information.

AUDITOR

Under section 487(2) of the Companies Act 2006Kreston Reeves LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

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





D M Mills
Director
Date: 19 August 2025

Page 4

 
D.K. HOLDINGS LIMITED
 

DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025

The directors are responsible for preparing the strategic report, the directors' report and the 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 of the profit or loss of the company for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies for the company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;


prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in directors' reports may differ from legislation in other jurisdictions.

Page 5

 
D.K. HOLDINGS LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF D.K. HOLDINGS LIMITED
 

OPINION

We have audited the financial statements of D.K. Holdings Limited (the 'company') for the year ended 31 March 2025, which comprise the statement of comprehensive income, the balance sheet, the statement of cash flows, the 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 company's affairs as at 31 March 2025 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 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.


OTHER INFORMATION

The other information comprises the information included in the annual report other than the financial statements and our auditor's 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.


Page 6

 
D.K. HOLDINGS LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF D.K. HOLDINGS LIMITED (CONTINUED)


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 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 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
the 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.


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 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 company or to cease operations, or have no realistic alternative but to do so.


Page 7

 
D.K. HOLDINGS LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF D.K. HOLDINGS LIMITED (CONTINUED)


AUDITOR'S 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 auditor's 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 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:

Capability of the audit in detecting irregularities, including fraud
Based on our understanding of the company and industry, and through discussion with the directors and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery, and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, taxation and pension legislation. 
We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure, and management bias in accounting estimates. Audit procedures performed by the engagement team included:
 
Discussions with management and assessment of known or suspected instances of non-compliance with    laws and regulations (including health and safety) and fraud, and review of the reports made by management; and
Challenging assumptions and judgements made by management in its significant accounting estimates; and
Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and
Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and
Reading minutes of meetings of those charged with governance; and
Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
 
Page 8

 
D.K. HOLDINGS LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF D.K. HOLDINGS LIMITED (CONTINUED)




As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:


Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the company's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.


We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.


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 auditor's 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.





Robert Sellers FCCA (senior statutory auditor)
for and on behalf of
Kreston Reeves LLP
Chartered Accountants
Statutory Auditor
Canterbury

19 August 2025
Page 9

 
D.K. HOLDINGS LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
Note
£
£

  

Turnover
 4 
5,299,035
5,520,369

Cost of sales
  
(3,160,777)
(3,311,686)

Gross profit
  
2,138,258
2,208,683

Administrative expenses
  
(2,208,662)
(2,142,500)

Operating (loss)/profit
 5 
(70,404)
66,183

Interest receivable and similar income
 8 
78,666
116,501

Profit before tax
  
8,262
182,684

Tax on profit
 9 
(16,508)
(56,389)

(Loss)/profit for the year
  
(8,246)
126,295

There was no other comprehensive income for 2025 (2024:£NIL).

The notes on pages 14 to 30 form part of these financial statements.

Page 10

 
D.K. HOLDINGS LIMITED
REGISTERED NUMBER: 00626600

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Intangible assets
 10 
-
-

Tangible assets
 11 
2,962,353
3,053,465

Investments
 12 
33,602
33,602

  
2,995,955
3,087,067

Current assets
  

Stocks
 13 
958,987
932,432

Debtors: amounts falling due within one year
 14 
1,097,604
1,066,508

Cash at bank and in hand
 15 
772,980
3,973,580

  
2,829,571
5,972,520

Creditors: amounts falling due within one year
 16 
(679,532)
(789,444)

Net current assets
  
 
 
2,150,039
 
 
5,183,076

Total assets less current liabilities
  
5,145,994
8,270,143

Provisions for liabilities
  

Deferred tax
 17 
(608,216)
(612,494)

Net assets
  
4,537,778
7,657,649


Capital and reserves
  

Called up share capital 
 18 
2,295
4,000

Share premium account
 19 
125,318
125,318

Capital redemption reserve
 19 
6,690
4,985

Profit and loss account
 19 
4,403,475
7,523,346

  
4,537,778
7,657,649


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A J Gentle
D M Mills
Director
Director
Date: 19 August 2025

The notes on pages 14 to 30 form part of these financial statements.

Page 11

 
D.K. HOLDINGS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 April 2023
4,000
125,318
4,985
7,397,051
7,531,354



Profit for the year
-
-
-
126,295
126,295



At 1 April 2024
4,000
125,318
4,985
7,523,346
7,657,649



Loss for the year
-
-
-
(8,246)
(8,246)

Purchase of own shares
-
-
1,705
(3,111,625)
(3,109,920)

Shares cancelled during the year
(1,705)
-
-
-
(1,705)


At 31 March 2025
2,295
125,318
6,690
4,403,475
4,537,778


The notes on pages 14 to 30 form part of these financial statements.

Page 12

 
D.K. HOLDINGS LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
£
£

Cash flows from operating activities

Profit for the financial year
(8,246)
126,295

Adjustments for:

Depreciation of tangible assets
165,825
202,890

Interest received
(78,666)
(116,501)

Taxation charge
16,508
56,389

(Increase) in stocks
(26,555)
(39,229)

(Increase)/decrease in debtors
(31,096)
174,526

(Decrease) in creditors
(53,834)
(193,880)

Corporation tax (paid)/received
(76,864)
-

Net cash generated from operating activities

(92,928)
210,490


Cash flows from investing activities

Purchase of tangible fixed assets
(74,713)
(62,687)

Interest received
78,666
116,501

Net cash from investing activities

3,953
53,814

Cash flows from financing activities

Purchase of own shares
(3,111,625)
-

Net cash used in financing activities
(3,111,625)
-

Net (decrease)/increase in cash and cash equivalents
(3,200,600)
264,304

Cash and cash equivalents at beginning of year
3,973,580
3,709,276

Cash and cash equivalents at the end of year
772,980
3,973,580


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
772,980
3,973,580


Page 13

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


GENERAL INFORMATION

D.K. Holdings Limited is a private company limited by shares and is incorporated in England with the registration number 00626600. The address of the registered office is Station Approach, Staplehurst, Tonbridge, Kent, TN12 0QN. 
The company's principal activity is the manufacture and distribution of diamond tools and associated products including machinery and equipment. Further information on the activities of the company is included as part of the strategic report on page 1.

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 financial statement are rounded to the nearest pound.

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

The following principal accounting policies have been applied:

 
2.2

EXEMPTION FROM PREPARING CONSOLIDATED FINANCIAL STATEMENTS

The company is exempt from the requirement to prepare consolidated financial statements as all of its subsidiaries are required to be excluded from consolidation by section 402 of the Companies Act 2006.

These financial statements are therefore the company's separate financial statements, and present information about the company as an individual undertaking and not about its group.

 
2.3

GOING CONCERN

The directors have considered the domestic and global economic climate in making their going concern assessment. Whilst it is difficult to evaluate with certainty, the directors are confident that based on the breadth of the customer base and the financial strength of the company, it will continue in operational existence far into the future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Page 14

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

REVENUE RECOGNITION

Revenue comprises income arising from the sale of diamond tools and associated products including machinery and equipment.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

  
2.5
LEASED ASSETS AND OBLIGATIONS

Where assets are financed by leasing agreements that give rights approximating to ownership ("finance leases"), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments during the lease term. The corresponding leasing commitments are shown as obligations to the lessor.
Lease payments are treated as consisting of capital and interest elements, and the interest is charged to the profit and loss account in proportion to the remaining balance outstanding.
All other leases are "operating leases" and the annual rentals are charged to the profit and loss account on a straight line basis over the lease term. 

 
2.6

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company 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 company in independently administered funds.

Page 15

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The company's functional and presentational currency is pounds sterling.

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.

 
2.8

INTEREST INCOME

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

 
2.9

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 operates and generates 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; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

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.


  
2.10
PURCHASED GOODWILL

Goodwill representing potential future profits deriving from know-how, including production  processes, is capitalised and written off over the period which in the opinion of the directors, the goodwill is effective.

Page 16

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property: Main offices and factory
-
Not depreciated
Freehold property: New factory
-
50 years
Plant and machinery
-
5 - 20 years
Motor vehicles
-
4 years
Fixtures, fittings and equipment
-
10 - 25 years

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.

In the opinion of the directors, depreciation on the main offices and factory is not material on the basis that the residual value is not less than the original cost. Therefore no provision has been made.
However, the directors consider that it is appropriate to depreciate the newly built factory over its expected useful life of 50 years.

 
2.12

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.13

STOCKS AND WORK IN PROGRESS

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 appropriate to the stage of manufacture.

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.

Page 17

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

 
2.14

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.

 
2.15

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions. Cash equivalents are highly liquid investments that mature, or may be accessed, 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 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 company's cash management.

 
2.16

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.

Page 18

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

 
2.17

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 19

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

3.



JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires the directors to make judgements, estimates and assumptions that can affect the amounts reported for assets and liabilities, and the results for the year.  The nature of estimation is such though that actual outcomes could differ significantly from those estimates.
The following judgements have had the most significant impact on amounts recognised in the financial statements:
Tangible fixed assets
The company has recognised tangible fixed assets with a carrying value of £2,962,353 (2024 - £3,053,465) at the reporting date (see note 11).  These assets are stated at their cost less provision for depreciation and impairment.  The company’s accounting policy sets out the approach to calculating depreciation for immaterial assets acquired.   For material assets such as land and buildings the company determines at acquisition reliable estimates for the useful life of the asset, its residual value and decommissioning costs. These estimates are based upon such factors as the expected use of the acquired asset and market conditions.  At subsequent reporting dates the directors consider whether there are any factors such as technological advancements or changes in market conditions that indicate a need to reconsider the estimates used.
Where there are indicators that the carrying value of tangible assets may be impaired the company undertakes tests to determine the recoverable amount of assets.  These tests require estimates of the fair value of assets less cost to sell and of their value in use.  Wherever possible the estimate of the fair value of assets is based upon observable market prices less incremental cost for disposing of the asset.  The value in use calculation is based upon a discounted cash flow model, based upon the company’s forecasts for the foreseeable future which do not include any restructuring activities that the company is not yet committed to or significant future investments that will enhance the asset’s performance.  The recoverable amount is most sensitive to the discount rate used for the discounted cash flow model as well expected future cash flows and the growth rate used for extrapolation purposes.
Taxation
Provision has been made in the financial statements for deferred tax amounting to £608,216 (2024 - £612,494) at the reporting date (see note 17).  This provision is based upon estimates of the availability of future taxable profits, the timing of the reversal of timing differences upon which the provision is based and the tax rates that will be in force at that time together with an assessment of the impact of future tax planning strategies. 


4.


TURNOVER

The company's turnover for the year was £5,299,035 (2024 - £5,520,369).
The whole of the company's turnover is attributable to its principal activity.
The directors believe the geographical markets in which the company sells its products, do not differ substantially therefore no geographical breakdown is given.

Page 20

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


OPERATING (LOSS)/PROFIT

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

2025
2024
£
£

Exchange differences
5,029
14,616

Other operating lease rentals
45,645
43,008

Fees payable to the company's auditor for the audit of the company's annual financial statements
23,750
22,600


6.


EMPLOYEES

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


2025
2024
£
£

Wages and salaries
2,618,485
2,622,303

Social security costs
228,872
247,232

Cost of defined contribution scheme
149,633
176,570

2,996,990
3,046,105


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


        2025
        2024
            No.
            No.







Office, management and sales
27
27



Indirect manufacturing
3
3



Direct manufacturing
47
49

77
79

Page 21

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

7.


DIRECTORS' REMUNERATION

2025
2024
£
£

Directors' emoluments
429,048
384,932

Company contributions to defined contribution pension schemes
68,891
95,848

497,939
480,780


During the year retirement benefits were accruing to 4 directors (2024 - 4) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £151,680 (2024 - £160,074).

The value of the company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £6,005 (2024 - £25,848).


8.


INTEREST RECEIVABLE

2025
2024
£
£


Other interest receivable
78,666
116,501


9.


TAXATION


2025
2024
£
£

CORPORATION TAX


Current tax on profits for the year
20,786
76,864

TOTAL CURRENT TAX
20,786
76,864

DEFERRED TAX


Origination and reversal of timing differences
(4,278)
(20,475)

TOTAL DEFERRED TAX
(4,278)
(20,475)


16,508
56,389
Page 22

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
 
9.TAXATION (CONTINUED)


FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is higher than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:

2025
2024
£
£


Profit on ordinary activities before tax
8,262
182,684


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)
2,066
45,671

EFFECTS OF:


Expenses not deductible for tax purposes
11,069
9,374

Capital allowances for year in excess of depreciation
5,734
9,944

Utilisation of tax losses
-
(8,600)

Marginal relief
(2,361)
-

TOTAL TAX CHARGE FOR THE YEAR
16,508
56,389


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

Deferred taxes have been measured using rates substantively enacted at the reporting date and reflected in these financial statements.
The company has no unused tax losses available for offset against future taxable profits.

Page 23

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

10.


INTANGIBLE ASSET




Purchased Goodwill

£



COST


At 1 April 2024
333,650



At 31 March 2025

333,650



AMORTISATION


At 1 April 2024
333,650



At 31 March 2025

333,650



NET BOOK VALUE



At 31 March 2025
-



At 31 March 2024
-



Page 24

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

11.


TANGIBLE FIXED ASSETS





Freehold land and buildings
Plant & machinery
Motor vehicles
Fixtures, fittings and equipment
Total

£
£
£
£
£



COST


At 1 April 2024
2,705,595
2,109,743
19,726
1,007,583
5,842,647


Additions
-
63,488
-
11,225
74,713



At 31 March 2025

2,705,595
2,173,231
19,726
1,018,808
5,917,360



DEPRECIATION


At 1 April 2024
414,220
1,699,460
19,726
655,776
2,789,182


Charge for the year on owned assets
41,422
78,031
-
46,372
165,825



At 31 March 2025

455,642
1,777,491
19,726
702,148
2,955,007



NET BOOK VALUE



At 31 March 2025
2,249,953
395,740
-
316,660
2,962,353



At 31 March 2024
2,291,375
410,283
-
351,807
3,053,465


Included in freehold land and buildings is land and buildings at cost of £634,481 (2024 - £634,481), which is not depreciated.

Page 25

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

12.


FIXED ASSET INVESTMENTS





Shares in subsidiary companies

£



COST


At 1 April 2024
213,369



At 31 March 2025

213,369



IMPAIRMENT


At 1 April 2024
179,767



At 31 March 2025

179,767



NET BOOK VALUE



At 31 March 2025
33,602



At 31 March 2024
33,602


SUBSIDIARY UNDERTAKINGS


The following were subsidiary undertakings of the company:

Name

Class of shares

Holding

Diaforce Limited
Ordinary
100%
Diagrit Electrometallics Limited
Ordinary
100%
Kendia (Diamond Products) Limited
Ordinary
100%
Ni-Form Limited
Ordinary
100%
Rushden Grinding Company Limited
Ordinary
100%

The registered office for each subsidiary undertaking is Station Approach, Staplehurst, Tonbridge, Kent, TN12 0QN.

Page 26

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

13.


STOCKS

2025
2024
£
£

Raw materials and consumables
455,117
462,500

Work in progress (goods to be sold)
129,629
127,647

Finished goods and goods for resale
374,241
342,285

958,987
932,432



14.


DEBTORS

2025
2024
£
£


Trade debtors
974,930
897,578

Other debtors
-
50

Prepayments and accrued income
122,674
168,880

1,097,604
1,066,508



15.


CASH AND CASH EQUIVALENTS

2025
2024
£
£

Cash at bank and in hand
772,980
3,973,580



16.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025
2024
£
£

Trade creditors
353,317
349,691

Amounts owed to group undertakings
33,602
33,602

Corporation tax
20,786
76,864

Other taxation and social security
66,134
109,442

Other creditors
244
273

Accruals and deferred income
205,449
219,572

679,532
789,444


Page 27

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

17.


DEFERRED TAXATION




2025
2024


£

£






At beginning of year
(612,494)
(632,969)


Charged to profit or loss
4,278
20,475



AT END OF YEAR
(608,216)
(612,494)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
(172,671)
(176,949)

Capital gains rollover relief
(435,545)
(435,545)

(608,216)
(612,494)

Capital gains rollover relief would be withdrawn should the company sell one or both of the freehold buildings and not invest in further industrial premises.


The net deferred tax liability expected to reverse in the next reporting period is £40,000. This primarily relates to the reversal of timing differences on capital allowances. 


18.


SHARE CAPITAL

2025
2024
£
£
ALLOTTED, CALLED UP AND FULLY PAID



2,295 (2024 - 4,000) Ordinary shares of £1.00 each
2,295
4,000

On 17 October 2024, the company repurchased and cancelled 1,705 ordinary £1 shares with a nominal value of £1,705. The aggregate consideration paid for these shares was £3,111,625.


Page 28

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

19.


RESERVES

Share premium account

This reserve records the amount above the nominal value received for shares issued by the company.  Share premium may only be utilised to write-off any expenses incurred or commissions paid on the issue of those shares, or to pay up new shares to be allotted to members as fully paid bonus shares.

Capital redemption reserve

This reserve records the nominal value of shares repurchased by the company.

Profit & loss account

This reserve comprises all current and prior period retained profits and losses after deducting any distributions made to the company’s shareholders.

20.


ANALYSIS OF NET DEBT




At 1 April 2024
Cash flows
At 31 March 2025
£

£

£

Cash at bank and in hand

3,973,580

(3,200,600)

772,980



21.


CAPITAL COMMITMENTS


At 31 March 2025 the company had capital commitments as follows:

2025
2024
£
£


Contracted for but not provided in these financial statements
55,605
-


22.


PENSION COMMITMENTS

The company operates defined contribution pension schemes, whose assets are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the funds and amounted to £149,633 (2024 - £176,570). Contributions totalling £17,781 (2024 - £48,807) were payable at the balance sheet date and are included in creditors.

Page 29

 
D.K. HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

23.


COMMITMENTS UNDER OPERATING LEASES

At 31 March 2025 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
52,477
58,581

Later than 1 year and not later than 5 years
66,878
114,851

119,355
173,432


24.


RELATED PARTY TRANSACTIONS

The key management personnel of the company is comprised only of the directors. Their remuneration is disclosed at note 7.
The company repurchased 1,705 ordinary shares from its significant shareholders and directors during the year for total consideration of £3,111,625.


25.


CONTROLLING PARTY

Due to the company's shares being spread across a number of shareholders, it is not considered that there is any one ultimate controlling party.


Page 30