Registration number:
Danco International Limited
for the Year Ended 31 January 2026
Danco International Limited
Contents
|
Company Information |
|
|
Strategic Report |
|
|
Directors' Report |
|
|
Statement of Directors' Responsibilities |
|
|
Independent Auditor's Report |
|
|
Consolidated Profit and Loss Account |
|
|
Consolidated Statement of Comprehensive Income |
|
|
Consolidated Balance Sheet |
|
|
Balance Sheet |
|
|
Consolidated Statement of Changes in Equity |
|
|
Statement of Changes in Equity |
|
|
Consolidated Statement of Cash Flows |
|
|
Statement of Cash Flows |
|
|
Notes to the Financial Statements |
Danco International Limited
Company Information
|
Directors |
A S Dann M Dann |
|
Registered office |
|
|
Bankers |
|
|
Auditors |
|
Danco International Limited
Strategic Report for the Year Ended 31 January 2026
The directors present their strategic report for the year ended 31 January 2026.
Principal activity
The principal activity of the group is that of hiring show and exhibition equipment, primarily event marquees, pavilions and temporary structures, and also the operation and maintenance of ice skating rinks - all throughout the United Kingdom.
Fair review of the business
The group is based on the outskirts of Bristol providing easy access to the M4 and M5 motorways and wider road network beyond.
The year 2026 was the 51st year of operation of the group parent company, Danco International Limited, and the company continues to own and manage an enormous selection of temporary structures with over 300,000 sqm of material (enough to cover 75 football pitches at any given time).
The results for the year and financial position of the group are as shown in the annexed financial statements and show a profit before taxation of £230,941 (2025: £353,986). The group share of the profit after interest, taxation and minority interests was £176,541 (2025: £335,168).
Group turnover for the year amounted to £7,637,502 (2025: £7,040,924)
Group shareholder funds at the year end amounted to £4,640,214 (2025: £4,463,673).
Group net cash from operating activities for the year amounted to £1,917,844 (2025: £1,625,324). The group has continued with its policy of cash reinvestment, focusing on capital equipment purchases such as new marquees, other temporary structures and plant and machinery. The net spend on capital equipment for the year amounted to £628,077 (2025: £776,276).
The directors continue to maintain a tight control over group operating costs in order to remain competitive in the marketplace.
Given the competitive and economic environment in which the group operates, the directors are of the opinion that the group's trading results for the year were satisfactory.
The directors do not recommend the payment of a dividend.
The events industry continues to remain highly competitive and the group itself seeks to remain competitive, aiming at all times to provide versatile solutions to its clients and deliver a superior quality product and service.
The strategy of the group and its directors is to continue their current management policies and look to grow the groups businesses over the short to medium term.
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2026 |
2025 |
|
Turnover |
£ |
7,637,502 |
7,040,924 |
|
Gross profit |
£ |
2,782,000 |
2,792,230 |
|
Gross profit margin |
% |
36.43 |
39.66 |
|
Profit before tax |
£ |
230,941 |
353,986 |
Danco International Limited
Strategic Report for the Year Ended 31 January 2026 (continued)
The directors monitor the progress of the group by reference to certain financial and non-financial key performance indicators, in the following areas:
- Sales targets
- Cash collected and debtor book
- Health and safety
- Staff welfare
- Environmental
- Client satisfaction
The directors believe the group has performed well and in line with their expectations for these KPIs.
Principal risks and uncertainties
The group operates in the events industry and is involved in hiring show and exhibition equipment, together with the installation and management of temporary ice skating rinks. The group's principal risks and uncertainties are considered to be as follows:
Economic climate
Adverse changes in the general economic environment, and specifically those affecting the events industry, have the potential to impact on the group’s financial performance. By maintaining its competitiveness and control of costs, but at the same time continuing to provide versatile solutions and delivering a superior quality of product and service, the directors believe that they are able to mitigate as far as possible any potential impact arising from a downturn in the events industry and wider economy.
Skilled labour
The group requires skilled employees to continue to provide its services to its clients. To manage the risk of insufficient skilled labour being available the group has a strategy of maintaining a pool of labour that it can call upon so that the peaks and troughs of the events seasons can be managed.
Health and safety
The group operates a strict health and safety regime on all of its sites to ensure the safety, welfare and protection of all persons.
Financial risks
The group has sufficient facilities to provide adequate working capital in order to meet its operating requirements.
Future developments
The group remains focused on achieving sustainable growth and maintaining operational efficiency in the coming year. Management will continue to assess market conditions and adapt the business strategy as necessary to ensure the group remains competitive. The group will also continue to monitor its cost base and seek efficiencies where appropriate to support profitability. Management is confident that these strategic priorities will help drive continued success and position the group for long-term growth.
Approved and authorised by the
|
......................................... |
Danco International Limited
Directors' Report for the Year Ended 31 January 2026
The directors present their report and the for the year ended 31 January 2026.
Directors of the group
The directors who held office during the year were as follows:
Information included in the Strategic Report
In accordance with section 414C(11) of the Companies Act 2006 and schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 the company has elected to present the business review and details of the principal risks and uncertainties within the strategic report.
Financial instruments
Objectives and policies
The group undertakes continual investment in new plant and equipment combined with staff development and welfare in order to achieve efficient, effective and productive services to clients.
Price risk, credit risk, liquidity risk and cash flow risk
The key risks of the company's financial instruments are detailed in the strategic report, together with
the strategies applied by the company in order to mitigate these risks.
Going concern
At the year end, the group had net current liabilities of £1,405,346 (2025: £1,370,514) and reported a profit for the financial year of £177,641 (2025: £337,335). The directors have prepared detailed cash flow forecasts and undertaken a review of the group's financial position for the next 12 months from the approval of these financial statements.
Based on this review, which includes consideration of the group’s ability to meet its liabilities as they fall due, the availability of loan facilities, and continued compliance with loan covenants, the directors are confident that the group will have sufficient resources to continue its operations. Accordingly, the financial statements have been prepared on a going concern basis.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Approved and authorised by the
|
......................................... |
Danco International Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
|
• |
select suitable accounting policies and apply them consistently; |
|
• |
make judgements and accounting estimates that are reasonable and prudent; |
|
• |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
|
• |
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 group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Danco International Limited
Independent Auditor's Report to the Members of Danco International Limited
Opinion
We have audited the financial statements of Danco International Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2026, which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The 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 group's and the parent company's affairs as at 31 January 2026 and of the group's 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 responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 director's 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 group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our 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.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Danco International Limited
Independent Auditor's Report to the Members of Danco International Limited (continued)
We have nothing to report in this regard.
Opinion on other matter 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
|
• |
the Strategic Report and 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 our 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 and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company 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 Statement of Directors' Responsibilities [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.
Danco International Limited
Independent Auditor's Report to the Members of Danco International Limited (continued)
Auditor 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
|
Our audit procedures were designed to respond to identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to: |
|
|
• |
Discussing with the directors and management their policies and procedures regarding compliance with laws and regulations; |
|
• |
Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; and |
|
• |
Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud. |
|
Our audit procedures in relation to fraud included but were not limited to: |
|
|
• |
Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud; |
|
• |
Gaining an understanding of the internal controls established to mitigate risks related to fraud; |
|
• |
Discussing amongst the engagement team the risks of fraud; and |
|
• |
Addressing the risks of fraud through management override of controls by performing journal entry testing. |
|
There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls. |
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Danco International Limited
Independent Auditor's Report to the Members of Danco International Limited (continued)
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 2006. Our 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.
......................................
For and on behalf of
Chartered Certified Accountants & Statutory Auditor
Chipping Sodbury
Bristol
BS37 6AH
Danco International Limited
Consolidated Profit and Loss Account for the Year Ended 31 January 2026
|
Note |
2026 |
2025 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Other operating income |
|
|
|
|
Operating profit |
|
|
|
|
Other interest receivable and similar income |
|
|
|
|
Amounts written off investments |
( |
- |
|
|
Interest payable and similar expenses |
( |
( |
|
|
(69,528) |
(97,036) |
||
|
Profit before tax |
|
|
|
|
Tax on profit |
( |
( |
|
|
Profit for the financial year |
|
|
|
|
Profit/(loss) attributable to: |
|||
|
Owners of the company |
|
|
|
|
Minority interests |
|
|
|
|
|
|
The group has no recognised gains or losses for the year other than the results above.
Danco International Limited
Consolidated Statement of Comprehensive Income for the Year Ended 31 January 2026
|
2026 |
2025 |
|
|
Profit for the year |
|
|
|
Total comprehensive income for the year |
|
|
|
Total comprehensive income attributable to: |
||
|
Owners of the company |
|
|
|
Minority interests |
|
|
|
|
|
Danco International Limited
(Registration number: 01232376)
Consolidated Balance Sheet as at 31 January 2026
|
Note |
2026 |
2025 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
60,000 |
60,000 |
|
|
Share premium reserve |
290,000 |
290,000 |
|
|
Revaluation reserve |
3,388,428 |
3,388,428 |
|
|
Retained earnings |
901,786 |
725,245 |
|
|
Equity attributable to owners of the company |
4,640,214 |
4,463,673 |
|
|
Minority interests |
(136,546) |
(137,626) |
|
|
Shareholders' funds |
4,503,668 |
4,326,047 |
Approved and authorised by the
|
......................................... |
Danco International Limited
(Registration number: 01232376)
Balance Sheet as at 31 January 2026
|
Note |
2026 |
2025 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Investments |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
60,000 |
60,000 |
|
|
Share premium reserve |
290,000 |
290,000 |
|
|
Revaluation reserve |
3,388,428 |
3,388,428 |
|
|
Retained earnings |
1,560,932 |
1,388,789 |
|
|
Shareholders' funds |
5,299,360 |
5,127,217 |
The company made a profit after tax for the financial year of £172,143 (2025 - profit of £326,501).
Approved and authorised by the
|
......................................... |
Danco International Limited
Consolidated Statement of Changes in Equity for the Year Ended 31 January 2026
Equity attributable to the parent company
|
Share capital |
Share premium |
Revaluation reserve |
Retained earnings |
|
|
At 1 February 2025 |
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
Decrease in ownership interests in subsidiaries that do not result in a loss of control |
- |
- |
- |
- |
|
At 31 January 2026 |
|
|
|
|
|
Total |
Non-controlling interests - Equity |
Total equity |
|
|
At 1 February 2025 |
|
( |
|
|
Profit for the year |
|
|
|
|
Decrease in ownership interests in subsidiaries that do not result in a loss of control |
- |
( |
( |
|
At 31 January 2026 |
|
( |
|
|
Share capital |
Share premium |
Revaluation reserve |
Retained earnings |
|
|
At 1 February 2024 |
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
At 31 January 2025 |
60,000 |
290,000 |
3,388,428 |
725,245 |
|
Total |
Non-controlling interests - Equity |
Total equity |
|
|
At 1 February 2024 |
|
( |
|
|
Profit for the year |
|
|
|
|
At 31 January 2025 |
4,463,673 |
(137,626) |
4,326,047 |
Danco International Limited
Statement of Changes in Equity for the Year Ended 31 January 2026
|
Share capital |
Share premium |
Revaluation reserve |
Retained earnings |
|
|
At 1 February 2025 |
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
At 31 January 2026 |
|
|
|
|
|
Total |
|
|
At 1 February 2025 |
|
|
Profit for the year |
|
|
At 31 January 2026 |
|
|
Share capital |
Share premium |
Revaluation reserve |
Retained earnings |
|
|
At 1 February 2024 |
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
At 31 January 2025 |
60,000 |
290,000 |
3,388,428 |
1,388,789 |
|
Total |
|
|
At 1 February 2024 |
|
|
Profit for the year |
|
|
At 31 January 2025 |
5,127,217 |
Danco International Limited
Consolidated Statement of Cash Flows for the Year Ended 31 January 2026
|
Note |
2026 |
2025 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Profit on disposal of tangible assets |
( |
( |
|
|
Profit from disposals of investments |
( |
- |
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
Decrease in trade debtors |
|
|
|
|
Increase in trade creditors |
|
|
|
|
Decrease in deferred income, including government grants |
( |
( |
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
|
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Proceeds from bank borrowing draw downs |
( |
( |
|
|
Payments to finance lease creditors |
|
|
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase in cash and cash equivalents |
|
|
|
|
Cash and cash equivalents at 1 February |
|
( |
|
|
Cash and cash equivalents at 31 January |
1,425,035 |
389,017 |
|
Danco International Limited
Statement of Cash Flows for the Year Ended 31 January 2026
|
Note |
2026 |
2025 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Profit on disposal of tangible assets |
( |
( |
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
(Increase)/decrease in trade debtors |
( |
|
|
|
Increase/(decrease) in trade creditors |
|
( |
|
|
Decrease in deferred income, including government grants |
( |
( |
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
|
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Proceeds from bank borrowing draw downs |
( |
( |
|
|
Payments to finance lease creditors |
|
|
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase in cash and cash equivalents |
|
|
|
|
Cash and cash equivalents at 1 February |
|
( |
|
|
Cash and cash equivalents at 31 January |
278,986 |
32,740 |
|
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026
|
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in £ sterling which is the functional currency of the group and rounded to the nearest £1.
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
2 |
Accounting policies (continued) |
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 January 2026.
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
2 |
Accounting policies (continued) |
Going concern
At the year end, the group had net current liabilities of £1,370,514 (2024: £1,327,450) and reported a profit for the financial year of £337,335 (2024: Loss £117,624). The directors have prepared detailed cash flow forecasts and undertaken a review of the group's financial position for the next 12 months from the approval of these financial statements.
Based on this review, which includes consideration of the group’s ability to meet its liabilities as they fall due, the availability of loan facilities, and continued compliance with loan covenants, the directors are confident that the group will have sufficient resources to continue its operations.
Accordingly, the financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the group’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the group.
The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Freehold property is recorded at valuation on the basis of open market value in existing use.
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
2 |
Accounting policies (continued) |
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Freehold Property |
2% straight line on valuation |
|
Plant and machinery |
8% - 25% reducing balance |
|
Office equipment |
8% - 25% reducing balance |
|
Motor vehicles |
20% reducing balance |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Goodwill |
10% straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
2 |
Accounting policies (continued) |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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 group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
2 |
Accounting policies (continued) |
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
|
Turnover |
The analysis of the group's Turnover for the year from continuing operations is as follows:
|
2026 |
2025 |
|
|
Rendering of services |
|
|
|
Other operating income |
The analysis of the group's other operating income for the year is as follows:
|
2026 |
2025 |
|
|
Miscellaneous other operating income |
|
|
|
Other gains and losses |
The analysis of the group's other gains and losses for the year is as follows:
|
2026 |
2025 |
|
|
Gain on disposal of Tangible assets |
|
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2026 |
2025 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
- |
|
|
Profit on disposal of property, plant and equipment |
( |
( |
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
Other interest receivable and similar income |
|
2026 |
2025 |
|
|
Interest income on bank deposits |
- |
|
|
Other finance income |
|
|
|
|
|
|
Interest payable and similar expenses |
|
2026 |
2025 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
|
|
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2026 |
2025 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
|
2026 |
2025 |
|
|
Production |
|
|
|
Administration and support |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2026 |
2025 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
274,805 |
309,762 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2026 |
2025 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
In respect of the highest paid director:
|
2026 |
2025 |
|
|
Remuneration |
|
|
|
Company contributions to money purchase pension schemes |
|
|
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
Auditors' remuneration |
|
2026 |
2025 |
|
|
Audit of these financial statements |
10,750 |
15,550 |
|
Audit of the financial statements of subsidiaries of the company pursuant to legislation |
5,000 |
5,000 |
|
|
|
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2026 |
2025 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2025 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2026 |
2025 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax decrease from effect of capital allowances and depreciation |
( |
( |
|
Tax increase from other short-term timing differences |
|
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
( |
|
Effect of tax losses |
( |
|
|
Total tax charge |
|
|
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
12 |
Taxation (continued) |
Deferred tax
Group
Deferred tax assets and liabilities
|
2026 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
Revaluation of freehold property |
- |
|
|
- |
|
|
2025 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
Revaluation of freehold property |
- |
|
|
- |
|
Company
Deferred tax assets and liabilities
|
2026 |
Asset |
Liability |
|
- |
|
|
|
- |
|
|
|
- |
|
|
2025 |
Asset |
Liability |
|
- |
|
|
|
- |
|
|
|
- |
|
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
Intangible assets |
Group
|
Goodwill |
Total |
|
|
Cost or valuation |
||
|
At 1 February 2025 |
|
|
|
At 31 January 2026 |
|
|
|
Amortisation |
||
|
At 1 February 2025 |
|
|
|
At 31 January 2026 |
|
|
|
Carrying amount |
||
|
At 31 January 2026 |
- |
- |
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
Tangible assets |
Group
|
Land and buildings |
Plant and machinery |
Office equipment |
Motor vehicles |
||
|
Cost or valuation |
|||||
|
At 1 February 2025 |
|
|
- |
|
|
|
Additions |
- |
|
|
|
|
|
Disposals |
- |
( |
- |
( |
|
|
At 31 January 2026 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 February 2025 |
|
|
- |
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
( |
- |
( |
|
|
At 31 January 2026 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 January 2026 |
|
|
|
|
|
|
At 31 January 2025 |
|
|
- |
|
|
|
Total |
|||||
|
Cost or valuation |
|||||
|
At 1 February 2025 |
|
||||
|
Additions |
|
||||
|
Disposals |
( |
||||
|
At 31 January 2026 |
|
||||
|
Depreciation |
|||||
|
At 1 February 2025 |
|
||||
|
Charge for the year |
|
||||
|
Eliminated on disposal |
( |
||||
|
At 31 January 2026 |
|
||||
|
Carrying amount |
|||||
|
At 31 January 2026 |
|
||||
|
At 31 January 2025 |
|
||||
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
14 |
Tangible assets (continued) |
Included within the net book value of land and buildings above is £4,396,500 (2025 - £4,438,250) in respect of freehold land and buildings.
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2026 |
2025 |
|
|
Plant and machinery |
417,274 |
202,931 |
|
Motor vehicles |
163,286 |
134,217 |
|
580,560 |
337,148 |
Company
|
Land and buildings |
Plant and machinery |
Motor vehicles |
Total |
|
|
Cost or valuation |
||||
|
At 1 February 2025 |
|
|
|
|
|
Additions |
- |
|
|
|
|
Disposals |
- |
( |
( |
( |
|
At 31 January 2026 |
|
|
|
|
|
Depreciation |
||||
|
At 1 February 2025 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
- |
( |
( |
( |
|
At 31 January 2026 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 January 2026 |
|
|
|
|
|
At 31 January 2025 |
|
|
|
|
Included within the net book value of land and buildings above is £4,396,500 (2025 - £4,438,250) in respect of freehold land and buildings.
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
14 |
Tangible assets (continued) |
Revaluation
The fair value of the company's Freehold property was revalued on
The directors have undertaken a review of the valuation at the year end date, utilising the independent valuation report undertaken during the prior year and readily available information on market values of similar properties in the market. The directors have concluded that the valuation within the accounts, as provided by the valuation report, remains a fair reflection of the property market value at the year end.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2026 |
2025 |
|
|
Plant and machinery |
417,274 |
202,931 |
|
Motor vehicles |
163,286 |
134,217 |
|
580,560 |
337,148 |
|
Investments |
Company
|
2026 |
2025 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 February 2025 |
|
|
Disposals |
( |
|
At 31 January 2026 |
|
|
Provision |
|
|
Carrying amount |
|
|
At 31 January 2026 |
|
|
At 31 January 2025 |
|
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
15 |
Investments (continued) |
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2026 |
2025 |
|||
|
Subsidiary undertakings |
||||
|
|
The Pavilion Centre, Frog Lane, Coalpit Heath, Bristol, BS36 2NW England & Wales |
|
|
|
|
|
The Pavilion Centre, Frog Lane, Coalpit Heath, Bristol, BS36 2NW England & Wales |
|
|
|
|
Subsidiary undertakings |
|
Icescape Limited The principal activity of Icescape Limited is |
|
Icescape At The Tropicana Limited The principal activity of Icescape At The Tropicana Limited is |
|
Debtors |
|
Group |
Company |
||||
|
Current |
Note |
2026 |
2025 |
2026 |
2025 |
|
Trade debtors |
|
|
|
|
|
|
Amounts owed by related parties |
- |
- |
|
|
|
|
Other debtors |
|
|
|
|
|
|
Prepayments |
|
|
|
|
|
|
Income tax asset |
|
|
|
|
|
|
|
|
|
|
||
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
Cash and cash equivalents |
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Cash at bank |
|
|
|
|
|
Creditors |
|
Group |
Company |
||||
|
Note |
2026 |
2025 |
2026 |
2025 |
|
|
Due within one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
|
Trade creditors |
|
|
|
|
|
|
Amounts due to related parties |
- |
|
- |
- |
|
|
Social security and other taxes |
|
|
|
|
|
|
Outstanding defined contribution pension costs |
|
|
|
|
|
|
Other payables |
|
|
- |
- |
|
|
Accruals |
|
|
|
|
|
|
Deferred income |
|
|
|
|
|
|
|
|
|
|
||
|
Due after one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
Provisions for liabilities |
Group
|
Deferred tax |
Total |
|
|
At 1 February 2025 |
|
|
|
Increase (decrease) in existing provisions |
|
|
|
At 31 January 2026 |
|
|
|
|
||
Company
|
Deferred tax |
Total |
|
|
At 1 February 2025 |
|
|
|
Increase (decrease) in existing provisions |
|
|
|
At 31 January 2026 |
|
|
|
|
||
|
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
Contributions totalling £
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
Share capital |
Allotted, called up and fully paid shares
|
2026 |
2025 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
60,000 |
|
60,000 |
|
Loans and borrowings |
Non-current loans and borrowings
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Bank borrowings |
|
|
|
|
|
Hire purchase contracts |
|
|
|
|
|
|
|
|
|
|
Current loans and borrowings
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Bank borrowings |
|
|
|
|
|
Hire purchase contracts |
|
|
|
|
|
|
|
|
|
|
The bank overdraft is secured by a standard bank debenture and a charge over the group's freehold property.
The hire purchase contracts are secured against the underlying fixed assets to which they relate.
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
22 |
Loans and borrowings (continued) |
Company
Bank borrowings
|
The loan is secured against the freehold property of the company. |
|
The loan funds are not secured against the assets of the group companies. |
|
Related party transactions |
Group
Summary of transactions with subsidiaries
Transactions and balances with group companies that have been eliminated on consolidation have not been disclosed.
Company
|
Transactions with directors |
|
2026 |
At 1 February 2025 |
Advances to director |
Repayments by director |
At 31 January 2026 |
|
A S Dann |
||||
|
Overdrawn loan account |
|
|
( |
|
|
2025 |
At 1 February 2024 |
Advances to director |
Repayments by director |
At 31 January 2025 |
|
A S Dann |
||||
|
Overdrawn loan account |
|
|
( |
|
Interest was charged on the loan through the period at a rate of 2.25% - 3.75% and the loan is repayable upon demand.
Danco International Limited
Notes to the Financial Statements for the Year Ended 31 January 2026 (continued)
|
Ultimate controlling party |
Mr A S Dann is beneficially entitled to 83.3% of the issued ordinary share capital in Danco International Limited. The remaining 16.7% of the issued ordinary share capital is held by Danco Executive Pension Scheme.