Company No: 00739542 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Intangible assets	3	24,980		24,081
Tangible assets	4	623,731		372,070
		648,711		396,151
Current assets
Stocks	5	411,360		422,203
Debtors	6	2,001,787		1,558,265
Cash at bank and in hand		897,707		1,181,482
		3,310,854		3,161,950
Creditors: amounts falling due within one year	7, 14	( 908,816)		( 784,287)
Net current assets		2,402,038		2,377,663
Total assets less current liabilities		3,050,749		2,773,814
Creditors: amounts falling due after more than one year	8	0		( 15,458)
Provision for liabilities		( 89,605)		( 95,934)
Net assets		2,961,144		2,662,422
Capital and reserves
Called-up share capital	9	300		300
Profit and loss account	13	2,960,844		2,662,122
Total shareholder's funds		2,961,144		2,662,422

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of D. P. Seals Limited (registered number: 00739542) were approved and authorised for issue by the Board of Directors on 22 July 2026. They were signed on its behalf by:

S L Murphy Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

D. P. Seals Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 6 Dawkins Road, Poole, BH15 4JY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have considered the financial projections and the budget for the company over the foreseeable future. The company might need additional cash in the coming months to run its operations, however given the current business trends and forecasts, the management is confident to find additional financial resources, if need be. Accordingly, the directors have a reasonable expectation that the company will have sufficient resources to continue its operations for the foreseeable future and therefore have prepared the financial statements on a going concern basis.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities and is net of Value Added Tax.

Turnover on sale of goods is recognised when goods are physically delivered to the customer. Uninvoiced deliveries at the year end are included in accrued income. Invoiced deliveries are included
in debtors. Where customers pay in advance for goods, the amount is recorded as deferred income until the goods have been delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Plant and machinery	15 % reducing balance
Fixtures and fittings	15 % reducing balance
Office equipment	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.
Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.
Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value 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 receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

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

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.
Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

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 that 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 Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Defined contribution pension obligation

The company contributes into a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the Company. Contributions are recognised in the income statement in the period in which they become payable.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	61		55

3. Intangible assets

	Computer software		Total
	£		£
Cost
At 01 April 2025	31,964		31,964
Additions	7,560		7,560
At 31 March 2026	39,524		39,524
Accumulated amortisation
At 01 April 2025	7,883		7,883
Charge for the financial year	6,661		6,661
At 31 March 2026	14,544		14,544
Net book value
At 31 March 2026	24,980		24,980
At 31 March 2025	24,081		24,081

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost
At 01 April 2025	21,041		1,765,549		187,453		127,504		2,101,547
Additions	194,212		143,976		3,500		11,150		352,838
Disposals	0		( 3,826)		0		0		( 3,826)
At 31 March 2026	215,253		1,905,699		190,953		138,654		2,450,559
Accumulated depreciation
At 01 April 2025	5,076		1,487,743		141,594		95,064		1,729,477
Charge for the financial year	26,175		58,364		7,286		5,526		97,351
At 31 March 2026	31,251		1,546,107		148,880		100,590		1,826,828
Net book value
At 31 March 2026	184,002		359,592		42,073		38,064		623,731
At 31 March 2025	15,965		277,806		45,859		32,440		372,070

5. Stocks

	2026		2025
	£		£
Stocks	411,360		422,203

6. Debtors

	2026		2025
	£		£
Trade debtors	1,878,983		1,369,876
Prepayments	122,804		91,626
Corporation tax	0		96,763
	2,001,787		1,558,265

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	510,264		453,597
Accruals	69,582		71,439
Taxation and social security	300,241		226,398
Obligations under finance leases and hire purchase contracts	15,458		19,133
Other creditors	13,271		13,720
	908,816		784,287

The hire purchase contracts are secured on the assets which they relate to.

8. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Obligations under finance leases and hire purchase contracts	0		15,458

The hire purchase contracts are secured on the assets which they relate to.

9. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary 1 GBP shares of £ 1.00 each	100		100
200 Ordinary B 1 GBP shares of £ 1.00 each	200		200
	300		300

The Company has Ordinary B shares which carry no voting rights

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2026		2025
	£		£
Within one year	156,000		156,000
Between one and five years	300,083		456,083
Total future minimum lease payments under non-cancellable operating leases	456,083		612,083

The amount of non-cancellable operating lease payments recognised as an expense during the year was £156,000 (2025 - £130,000)

11. Related party transactions

The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of paragraph 1AC.35 of FRS 102 - Small Entities not to disclose transactions with entities that are wholly owned members of the group.

There were no other related party transactions to disclose.

12. Events after the Balance Sheet date

There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.

13. Reserves

The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

14. Pension Scheme

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £73,462 (2025 - £47,114).
At the end of the year there was £4,385 (2025: £2,599) unpaid in respect of pension contributions.

15. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 March 2026 was unqualified.

The audit report was signed by Jeff Fletcher FCCA on behalf of TC Group.

16. Ultimate controlling party

The company's immediate parent is Lagercrantz UK Limited, incorporated in United Kingdom.
The ultimate parent company producing publicly available financial statements is Lagercrantz Group AB, incorporated in Sweden.
Lagercrantz Group AB is the smallest and largest group for which this company is consolidated into.

The address of the ultimate parent company is Vasagatan 11, Stockholm, SE111 20, Sweden.