D.K.L Metals Limited Financials - SC102071

In the year to 30 June 2026, the company achieved a turnover of £16,918,480 and a net after tax profit of £846,728. This compares to a turnover of £12,285,066 and a net after tax profit of £571,681 in the previous period.

The following Key Performance Indicators measure the performance of the business:

Gross Profit (%)

15%

12%

Net Profit (%)

Return on capital employed (%)

29%

21%

Current Ratio

2.28

1.91

Future development

The company continues to develop overseas sales, in order to diversify and deliver additional earnings.

Principal risks and uncertainties

The company aims to minimise risk and uncertainty where possible. One of the main risks facing the business is increased competition in the market where the company operates and decreasing demand levels for products offered. To mitigate this, we undertake steps to diversify the product portfolio and continuously monitor demand for each product. Another risk facing the business is the fluctuation in metal prices. To mitigate this, the company uses hedging contracts.

This report was approved by the board of directors on 3 November 2026 and signed on behalf of the board by:

_______________________

D.K.L Metals Limited

Annual Financial Statements for the year ended 30 June 2026

The directors present their report with the financial statements of the company for the year ended 30 June 2026.

The principal activity of the company in the year under review was that of a metal and alloy manufacturer.

No dividends will be distributed for the year ended 30 June 2026 (2025: £Nil).

The directors who served the company during the financial year, and up to the date of signing the financial statements are as follows:

Michael Erik Yde Marcussen (Appointed 16 September 2025)

Rasmus Atle Breivik (Resigned 16 September 2025)

The Directors of the company are indemnified against liability with an appropriate insurance policy.

Directors' responsibilities

The directors are responsible for preparing the strategic report, 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 the law, the directors have prepared the Annual Financial Statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising "IFRS Accounting Standards as issued by the International Accounting Standards Board" 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 company and of the profit or loss of the company for that period.

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

•

select suitable accounting policies and then apply them consistently;

•

make judgements and estimates that are reasonable and prudent; and

•

prepare the Annual Financial Statements on a 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 2006. They 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.

Disclosure of information to the auditors

In the case of each director in office at the date the Directors' Report is approved:

•

so far as the director is aware, there is no relevant audit information of which the group and company's auditors are unaware; and

•

they have taken all the 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 auditors are aware of that information.

D.K.L Metals Limited

Annual Financial Statements for the year ended 30 June 2026

CT Audit Limited were the independent auditors for the year under review and will be proposed for re-appointment at the forthcoming Annual General Meeting.

Steven Ford

Michael Erik Yde Marcussen

D.K.L Metals Limited

Independent Auditor's Report to the Members of D.K.L Metals Limited

For the year ended 30 June 2026

We have audited the financial statements of D.K.L Metals Limited for the year ended 30 June 2026 which comprise the profit and loss account, balance sheet, statement of changes in equity and the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and UK adopted international accounting standards.

In our opinion, except for the possible effect of the matters described in the Basis for Qualified Opinion section of our report, the annual financial statements:

•

give a true and fair view of the state of the company's affairs as at 30 June 2026 and of its profit for the year then ended;

•

have been properly prepared in accordance with UK adopted international accounting standards; and

•

have been properly prepared in accordance with the requirements of the Companies Act 2006.

0.1

Basis for Qualified Opinion

Included within inventories in the balance sheet is an amount of £5,853,186 which has been valued at market value. In our opinion, the accounting policy applied by the company, as described in Note 2, is not in accordance with International Accounting Standard 2 Inventories, which requires inventories to be measured at the lower of cost and net realisable value.

Had inventories been valued in accordance with IAS 2, inventories at 30 June 2026 would have been reduced by £675,026. Consequently, profit for the year ended 30 June 2026 and retained earnings at 30 June 2026 would also have been reduced by £675,026.

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 UK, including the FRC's Ethical Standard, and we have fulfilled our 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 qualified 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 the 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.

0.2

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 report. 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. 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.

D.K.L Metals Limited

Independent Auditor's Report to the Members of D.K.L Metals Limited (continued)

For the year ended 30 June 2026

Opinions 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 and 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.

0.3

Directors' Responsibility for the Financial Statements

As explained more fully in the directors' responsibilities statement set out on page 4, 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.

0.3

Auditor's responsibilities for the audit of the annual 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:

•

We gained an understanding of the legal and regulatory framework applicable to the entity and the industry in which it operates and considered the risk of acts by the entity which were contrary to applicable laws and regulations, including fraud. This included gaining an understanding of the control environment for monitoring compliance with laws and regulations.

•

Our audit procedures were designed to respond to risks of material misstatement in the consolidated annual report and financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

D.K.L Metals Limited

Independent Auditor's Report to the Members of D.K.L Metals Limited (continued)

For the year ended 30 June 2026

We focused on laws and regulations that could give rise to a material misstatement in the company's annual financial statements. Our tests included, but were not limited to:

•

Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

•

Reviewing minutes of meetings of those charged with governance;

•

Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

•

Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

•

Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

•

Performing analytical procedures to identify any unexpected movements which may indicate irregularities and substantiated the explanations given for these movements.

•

Reviewing the accounting policies and the application of these policies to ensure compliance with the standard and consistency of application.

•

Specific consideration was given to transactions with related parties.

There are inherent limitations in an audit of financial statements and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would be to become aware of it. We also addressed the risk of management override of internal controls, including reviewing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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.

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.

Anthony Gillham (Senior Statutory Auditor)

For and on behalf of

Anthony Gillham (Senior Statutory Auditor)

CT Audit Limited

Chartered Accountants & Statutory Auditor

D.K.L Metals Limited

Financial Statements for the year ended 30 June 2026

Profit and Loss Account

Notes

2026 £

2025 £

Revenue

16,918,480

12,285,066

Cost of sales

14,563,274

10,848,418

Gross profit

2,355,206

1,436,648

Other operating income

454,601

14,914

Distribution costs

4,016

Administrative expenses

616,043

669,924

Gain/loss on revaluation of assets

17,132

(9,880)

Profit from operating activities

1,301,694

767,742

Finance income

490

Profit before tax

1,301,694

768,232

Income tax expense

454,966

196,551

Profit for the year

846,728

571,681

Other comprehensive income

Total comprehensive income

846,728

571,681

Prior year adjustment

(10,080)

Total comprehensive income since last report

846,728

561,601

D.K.L Metals Limited

(Registration Number SC102071)

Financial Statements for the year ended 30 June 2026

Notes

2026 £

2025 £

Property, plant and equipment

485,816

461,980

Deferred tax assets

27,720

Total non-current assets

485,816

489,700

Inventories

5,853,186

3,306,250

Trade and other receivables

3,994,702

2,202,531

Cash and cash equivalents

1,343,238

1,201,274

Total current assets

11,191,126

6,710,055

Total assets

11,676,942

7,199,755

Equity and liabilities

Called up share capital

Retained income

4,527,641

3,680,913

Other non-distributable reserves

Total equity

4,527,741

3,681,013

Non-current liabilities

Deferred tax liabilities

181,424

Trade and other payables

6,817,529

3,334,232

Corporation tax payable

150,248

184,510

Total current liabilities

6,967,777

3,518,742

Total liabilities

7,149,201

3,518,742

Total equity and liabilities

11,676,942

7,199,755

The annual financial statements were approved and authorised for issue by the Board of Directors on 3 November 2026.

Signed on behalf of the Board of Directors:

Steven Ford

Michael Erik Yde Marcussen

D.K.L Metals Limited

(Registration Number SC102071)

Financial Statements for the year ended 30 June 2026

Statement of Changes in Equity

Called up share capital £

Capital redemption reserve £

Retained income £

Total £

Balance at 1 July 2024

3,119,312

3,119,412

Correction of prior period errors

(10,080)

Balance at 1 July 2024

3,109,232

3,109,332

Profit for the year

571,681

Total comprehensive income for the year

571,681

Balance at 30 June 2025

3,680,913

3,681,013

Balance at 1 July 2025

3,680,913

3,681,013

Profit for the year

846,728

Total comprehensive income for the year

846,728

Balance at 30 June 2026

4,527,641

4,527,741

D.K.L Metals Limited

(Registration Number SC102071)

Financial Statements for the year ended 30 June 2026

Statement of Cash Flows

Notes

2026 £

2025 £

Net cash flows from / (used in) operations

327,720

(29,439)

Income taxes paid

143,772

172,607

Net cash flows from / (used in) operating activities

183,948

(202,046)

Cash flows (used in) / from investing activities

Proceeds from sales of property, plant and equipment

12,160

Purchase of property, plant and equipment

41,984

Interest received

490

Cash flows (used in) / from investing activities

41,984

12,650

Net increase / (decrease) in cash and cash equivalents

141,964

189,396

Cash and cash equivalents at beginning of the year

1,201,274

1,390,670

Cash and cash equivalents at end of the year

1,343,238

1,201,274

D.K.L Metals Limited

Financial Statements for the year ended 30 June 2026

Notes to the Financial Statements

1. Statutory information

D.K.L Metals Limited is a private company, limited by shares, registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparation

These financial statements have been prepared in accordance with UK-adopted international accounting standards and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS. The financial statements have been prepared under the historical cost convention.

Revenue represents net invoiced sales of metals, excluding VAT. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product, such as obsolescence, have been transferred to the customer.

Employee benefit costs

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

Property, plant and equipment

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

Freehold property

- Straight line over 20 years

Plant and machinery

- 25% on reducing balance

Motor vehicles

- 25% on reducing balance

Inventories are initially recorded at cost and then valued at market value as at the year end. In some cases stock purchases are provisionally invoiced based on the metal price at the point of delivery, which is when the company takes title to the stock, and then re-invoiced based on the metal price at the point when the stock is used. Market value of metals is calculated as the quantity of the constituent pure metals multiplied by the respective market (LME, kitco.com) official prices valid at the balance sheet date. This method is not in accordance with IAS 2 Inventories, which requires stock to be recorded at the lower of cost and net realisable value based on selling price. The company's management believes that this methodology better represents the real net realisable value of stock than a valuation based on ultimate selling price, as required by accounting standards. In arriving at the tax result, the company has used the lower of cost and net realisable value based on selling price.

Financial instruments

Financial assets and liabilities are initially recorded at fair value and are recognised when the company becomes a party to the contractual provisions of the instruments. Transaction costs that are directly attributable to the acquisition or issue of financial assets and liabilities are added to or deducted from the fair value of the assets or liabilities, as appropriate, on the initial recognition.

The company's financial assets are classified as 'loans and receivables' and derivative assets.

Loans and receivables (including trade and other debtors, bank balances and cash) and all financial liabilities (including trade creditors, related party balances and accruals) are subsequently measured at amortised costs using the effective interest method. The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial.

D.K.L Metals Limited

Financial Statements for the year ended 30 June 2026

Notes to the Financial Statements

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

The company conducting its business activity is vulnerable to financial risk especially the following types of risk:

Credit risk is understood by the company as possibility of behindhand or lack of fulfilment of the counterparty from its commitments. The company follows the rule of comprising transactions only with economic operators proving high rating. While choosing financial partners, the company bears in mind their financial standing verified by insurance companies as well as their role on the market and reputation.

Market risk is understood as possibility that negative influence of change of conditions on financial and commodity markets may appear and they might have an impact on economic value or financial result of the Group.

The company obtains the stock of metals, mainly tin, whose selling price depends on the current market price, therefore the value of stock is exposed to price fluctuations. As a result, the company concludes hedging contracts which secure the value of stock and currency hedging contracts which are reassurance of the value of currencies in which transactions are performed.

The total fair value of financial instruments relating to hedged liabilities amounts to £8,196 as at 30 June 2026 (£25,328).

The result on unrealised transactions related financial result for the year 2025/2026 amounts to £8,196 (2024/2025 £25,328).

The main risk in controlling the process of fluency risk is current control and planning the level of fluency. The company has undertaken the following actions to control its liquidity assets: payment realisation, predicting money flows, optimal control over available funds, possessing and establishing optimal and adjusted to needs and risks of financing levels in current operating and investment enterprises.

In order to support and optimise the politics of managing liquidity assets risk the company uses its own ideas evolved from operating activity and financing bank credits as well as in justified cases loans from shareholders.

Cash and cash equivalents

Cash represents cash in hand and deposits held on demand with financial institutions. Cash equivalents are short-term, highly-liquid investments with original maturities of three months or less (as at their date of acquisition). Cash equivalents are readily convertible to known amounts of cash and subject to an insignificant risk of change in that cash value.

In the presentation of the Statement of Cash Flows, cash and cash equivalents also include bank overdrafts. Any such overdrafts are shown within borrowings under 'current liabilities' on the Statement of Financial Position.

Taxation and deferred tax

Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the statement of financial position date.

D.K.L Metals Limited

Financial Statements for the year ended 30 June 2026

Notes to the Financial Statements

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the rates that are expected to apply in the periods in which timing differences reverse, based on the tax rates and laws enacted or substantively enacted at the balance sheet date.

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

The financial statements have been prepared on a going concern basis. The director's going concern assessment includes a period of at least 12 months from the date of signing of these financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In preparing the financial statements, directors make estimates and assumptions which affect reporting results, financial position and disclosure of contingencies. Use of available information and application of judgement are inherent in the formation of the estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates. Critical judgements made in preparing these financial statements comprise: the applicability of the estimated useful lives of fixed assets used to calculate the period over which depreciation is applied, review of fixed assets for impairment or obsolescence and review of hedging contracts to ensure they are valued appropriately.

D.K.L Metals Limited

Financial Statements for the year ended 30 June 2026

Notes to the Financial Statements

Revenue comprises:

Sale of goods

16,918,480

12,285,066

Disaggregation of revenue from contracts with customers

Revenue per geographical region

UK sales of goods

11,033,680

9,992,263

Overseas sales of goods

5,884,800

2,292,803

16,918,480

12,285,066

Cost of inventories recognised as expense

14,563,274

10,848,418

Depreciation - owned assets

18,148

13,937

Auditors' remuneration

13,500

8,950

Foreign exchange differences

(24,315)

41,903

Other operating leases

4,210

Finance income comprises:

2026

2025

Interest received

490

6. Employees and directors

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

Management and administration

The aggregate remuneration of such employees was as follows:

Wages and salaries

448,100

401,875

Social security costs

59,167

47,110

Other pension costs

21,701

19,856

Directors' remuneration

104,611

84,452

Directors' pension contributions to money purchase schemes

4,234

4,233

The number of directors to whom retirement benefits were accruing was as follows:

D.K.L Metals Limited

Financial Statements for the year ended 30 June 2026

Notes to the Financial Statements

The directors are considered to be key management personnel.

Current year

245,822

274,690

Deferred tax

209,144

(78,139)

Total income tax expense

454,966

196,551

7.1 Factors affecting the tax expense

The tax asset for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Profit before tax from operations

1,301,694

768,232

Income tax calculated at 25%

325,424

192,058

Inventories adjustment from previous year

50,113

Inventories adjustment from current year

(75,294)

29,775

Capital allowances in excess of depreciation

3,479

3,043

Expenses not deductible for tax purposes

2,657

218

Temporary differences not recognised in the computation

198,701

Movement in deferred tax

(78,139)

Loss on disposal

1,004

2024 inventories adjustment

(1,521)

Tax charge

454,966

196,551

D.K.L Metals Limited

Financial Statements for the year ended 30 June 2026

Notes to the Financial Statements

8. Property, plant and equipment

Balances at year end and movements for the year

Freehold property £

Plant and machinery £

Motor vehicles £

Total £

At 01 July 2025

505,344

157,096

36,376

698,816

Additions

41,186

798

41,984

At 30 June 2026

546,530

157,894

36,376

740,800

At 01 July 2025

(59,627)

(149,466)

(27,743)

(236,836)

Charge for the year

(13,916)

(2,074)

(2,158)

(18,148)

At 30 June 2026

(73,543)

(151,540)

(29,901)

(254,984)

At 01 July 2025

445,717

7,630

8,633

461,980

At 30 June 2026

472,987

6,354

6,475

485,816

Inventories comprise:

Raw materials

4,372,893

1,556,697

Finished goods

1,480,293

1,749,553

5,853,186

3,306,250

Metals held on consignment, which are in substance assets of the company, amount to £3,131,882 (2025: £1,240,263). These have been included in stock with the corresponding liability included within accruals. Payment becomes due when title passes to the company, which is the earlier of a specific time from delivery as specified in the underlying agreement or the date of sale.

10. Trade and other receivables

Trade and other receivables comprise:

2026

2025

Trade receivables

3,046,601

1,643,848

Other receivables

111,086

380,544

Value added tax

153,307

178,139

Amounts owed by group undertakings

683,708

Total trade and other receivables

3,994,702

2,202,531

D.K.L Metals Limited

Financial Statements for the year ended 30 June 2026

Notes to the Financial Statements

11. Cash and cash equivalents

Detail of cash and cash equivalent balances

2026

2025

Cash in hand

2,226

Current bank account

671,642

622,616

US dollar bank account

654,291

142,241

Euro bank account

15,079

434,191

Total

1,343,238

1,201,274

12. Trade and other payables

Trade and other payables comprise:

Trade payables

377,078

112,063

Accruals and deferred income

3,170,529

16,863

Social security and other taxes

13,049

53,654

Derivative financial liabilities

8,196

25,328

Due to related company

3,248,677

3,126,324

Total trade and other payables

6,817,529

3,334,232

Derivative financial liabilities represent the future contracts the company has entered at the year end to hedge against price movements of metals.

Fenix Metals Sp.z o.o. provides DKL Metals Ltd with hedging services, consisting in securing metal prices in transactions with an insurance broker. An inter company agreement is in place and all records of transactions performed for the sole benefit of DKL Metals Ltd are registered on a separate sub-account with the insurance broker under Fenix Metals Sp. z o.o.

Balance at 01 July

(27,720)

50,419

Accelerated capital allowances

55,810

1,749

Inventories valued lower/(higher) for tax

153,433

(79,888)

Short-term provisions

(99)

Balance at 30 June

181,424

(27,720)

D.K.L Metals Limited

Financial Statements for the year ended 30 June 2026

Notes to the Financial Statements

14. Financial Instruments

Financial assets: loans and receivables measured at amortised cost

3,046,601

1,643,848

Other financial assets a 2

Financial liabilities measured at cost

6,959,581

3,493,414

Other financial assets a 3

Derivative liabilities measured at fair value through profit and loss

8,196

25,328

Other financial assets a 4

15. Called up share capital

Authorised, allotted and fully paid up

20 A Ordinary shares of £1 each

20 B Ordinary shares of £1 each

20 C Ordinary shares of £1 each

Nature and purpose of reserves

Capital redemption reserve

The capital redemption reserve arose on the purchase and cancellation of the company's own shares. An amount equal to the nominal value of the shares redeemed was transferred from retained earnings to the reserve in accordance with applicable company law. The reserve is non-distributable.

Retained earnings represent accumulated profits and losses recognised by the company, net of dividends paid and transfers to other reserves. Retained earnings are available for distribution subject to applicable legal and regulatory requirements.

17. Cash flows from operating activities

Profit for the year

846,728

571,681

Income tax expense

454,966

196,551

Finance income

(490)

Depreciation and amortisation expense

18,148

13,937

Gains and losses on disposal of non-current assets

(17,132)

4,016

AMT Contracts disclosure

(456,961)

D.K.L Metals Limited

Financial Statements for the year ended 30 June 2026

Notes to the Financial Statements

Change in operating assets and liabilities:

Adjustments for decrease / (increase) in inventories

369,071

(146,061)

Adjustments for increase in trade accounts receivable

1,135,283

(380,556)

Adjustments for increase / (decrease) in trade accounts payable

248,183

(288,517)

Net cash flows from / (used in) operations

327,720

(29,439)

18. Related party transactions

Fenix Metals Sp. Z.o.o (Fenix) is the parent company, owning 100% of the share capital of DKL Metals Limited. During the year, the company made sales of £856,044 (2025: £974,506) to Fenix. At the year end date, £502,708 (2025: £201,000) was owed to the company by Fenix.

The company purchased materials from Fenix of £10,393,310 (2025: £10,110,814) and paid management fees to Fenix of £39,456 (2025: £39,738). At the year end date, creditors due within one year included £2,531,139 (2025: £3,342,773) due by the company to Fenix in respect of these costs.

Access to hedging services was provided to the company by enabling them to trade on a separate sub-account of Fenix with the insurance broker as mentioned previously in the accounts. At the year end there were losses on realised contracts due from the company to Fenix of £456,961 (2025: gains of £15,448). The balance was £717,538 owed to Fenix (2025: due from Fenix £15,448).

Stoop N.V is a sister company of Fenix. During the year, the company made sales of £nil (2025: £40,602) The company purchased no materials from Stoop N.V. (2025: £nil). At the year end date, no balance is due from Stoop N.V (2025: £nil).

Falcon Metal Ltd (Dubai) is a sister company of Fenix. During the year, the company made sales of £181,000 (2025: £nil). The balance due from Falcon Metal Ltd (Dubai) is £181,000 at the year end (2025: £nil). The company purchased no materials during the year.

19. Ultimate controlling party

The company's immediate parent company is Fenix Metals Sp.z o.o, a company incorporated in Poland. The registered office is Strefowa 13, 39-442 Chmielów, Poland. Copies of the group financial statements are available from Companies House in the UK.