REGISTERED NUMBER: 07254422 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DX PRODUCTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C A Pallister

SECRETARY:

J Mozalski

REGISTERED OFFICE:

Unit 1 Horbury Junction Industrial Park

Calder Vale Road

Horbury

Wakefield

WF4 5ER

REGISTERED NUMBER:

07254422 (England and Wales)

AUDITOR:

Fortus Audit LLP

Equinox House, Clifton Park

Shipton Road

York

Yorkshire

YO30 5PA

FIXED ASSETS

Tangible assets

4

171,458

221,718

Investments

5

2

3

171,460

221,721

CURRENT ASSETS

Stocks

3,111,216

2,648,342

Debtors

6

1,381,498

1,202,649

Investments

7

250,000

509,316

Cash at bank

654,160

1,142,325

5,396,874

5,502,632

CREDITORS

Amounts falling due within one year

8

3,677,255

3,046,107

NET CURRENT ASSETS

1,719,619

2,456,525

TOTAL ASSETS LESS CURRENT LIABILITIES

1,891,079

2,678,246

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

1,891,078

2,678,245

1,891,079

2,678,246

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

C A Pallister - Director

1.	STATUTORY INFORMATION

DX Products 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The level of rounding used in the financial statements is to the nearest £1.

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.

Preparation of consolidated financial statements

The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent group are considered eligible for the exemption to prepare consolidated accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

20% on cost

Plant and machinery

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currency translation

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 meaured at fair value are measured using the exchange rate when fair value was determined.

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.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 46 ) .

4.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

Computer

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

387,400

153,434

10,999

79,409

631,242

Additions

-

21,356

-

1,525

22,881

At 31 December 2024

387,400

174,790

10,999

80,934

654,123

DEPRECIATION

At 1 January 2024

240,960

95,839

687

72,038

409,524

Charge for year

42,754

25,473

172

4,742

73,141

At 31 December 2024

283,714

121,312

859

76,780

482,665

NET BOOK VALUE

At 31 December 2024

103,686

53,478

10,140

4,154

171,458

At 31 December 2023

146,440

57,595

10,312

7,371

221,718

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

3

Disposals

(1

)

At 31 December 2024

2

NET BOOK VALUE

At 31 December 2024

2

At 31 December 2023

3

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

267,458

294,737

Amounts owed by group undertakings

166,038

629,044

Other debtors

504,891

261,628

Deferred tax asset

13,443

2,343

Prepayments

429,668

14,897

1,381,498

1,202,649

7.	CURRENT ASSET INVESTMENTS

2024

2023

£

£

Unlisted investments

250,000

509,316

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

77,008

254,881

Trade creditors

427,440

545,749

Amounts owed to group undertakings

3,086,230

1,989,039

Corporation tax

-

18,160

Social security and other taxes

10,975

168,300

VAT

16,604

-

Other creditors

44,748

24,135

Accruals and deferred income

14,250

45,843

3,677,255

3,046,107

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

The Report of the Auditor was unqualified.

Frances Howard FCA (Senior Statutory Auditor)

for and on behalf of Fortus Audit LLP

10.	RELATED PARTY DISCLOSURES

During the year the company made sales of £712,587 to entities under common control.

As at 31 December 2024 £223,340 (2023 £500) was due from entities under common control and £30,892 (2023 £6,240) was due to entities under common control.

As at 31 December 2024 £30,089 (2023 £79,074) was due from key management.

11.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Ultramax Products Limited, a company registered in England and Wales under Company Number 05483439.

There is not considered to be an ultimate controlling party by virtue of the share holdings.

12.	TRANSACTIONS WITH DIRECTORS

During the year a total of £282,906 (2023: £229,437) was advanced to the director of which £186,790 (2023: £203,000) was repaid during the year. The balance of £133,786 (2023: £67,670) remains outstanding at the year end and is included in debtors. The loan is interest free and repayable on demand.