Dural (U K) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02715034 (England and Wales)

Financial Statements for the Year Ended 31 December 2018

for

Dural (U K) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J G Caygill

Mr M Demeter

REGISTERED OFFICE:

Unit 6a Wakefield Business Centre

Denby Dale Road

Wakefield

West Yorkshire

WF2 7AZ

REGISTERED NUMBER:

02715034 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mr Adrian Staniforth

AUDITORS:

BHP LLP

2 Rutland Park

Sheffield

South Yorkshire

S10 2PD

FIXED ASSETS

Tangible assets

4

128,577

124,094

CURRENT ASSETS

Stocks

651,492

499,027

Debtors

5

1,146,111

732,056

Cash at bank and in hand

516,047

288,596

2,313,650

1,519,679

CREDITORS

Amounts falling due within one year

6

1,718,205

996,247

NET CURRENT ASSETS

595,445

523,432

TOTAL ASSETS LESS CURRENT LIABILITIES

724,022

647,526

PROVISIONS FOR LIABILITIES

3,646

1,788

NET ASSETS

720,376

645,738

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Share premium

7,200

7,200

Retained earnings

711,176

636,538

720,376

645,738

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 March 2019 and were signed on its behalf by:

Mr M Demeter - Director

1.	STATUTORY INFORMATION

Dural (U K) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number

and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Turnover comprises the value of sales (net of value added tax, similar taxes and trade discounts) of goods and services

provided in the normal course of business. Turnover is recognised when the goods are despatched, which is the same day

on which goods are delivered and hence is the point at which the risks and rewards of ownership pass to the buyer.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

50% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost is ascertained using the latest purchase price. Net

realisable value is based on estimated selling price, less further costs to be incurred to completion and disposal. Provision is

made for obsolete, slow-moving and defective items where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

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

date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been

enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme

are charged to profit or loss in the period to which they relate.

Provisions

Provisions are only set up where it is probable that a present obligation exists as a result of an event prior to the balance

sheet and that a payment will be required in settlement that can be estimated reliably.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2017 - 29 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2018

37,054

40,309

12,429

Additions

9,600

-

12,710

Disposals

-

(907

)

(10,746

)

At 31 December 2018

46,654

39,402

14,393

DEPRECIATION

At 1 January 2018

-

26,662

9,229

Charge for year

11,609

2,047

1,188

Eliminated on disposal

-

(778

)

(8,904

)

At 31 December 2018

11,609

27,931

1,513

NET BOOK VALUE

At 31 December 2018

35,045

11,471

12,880

At 31 December 2017

37,054

13,647

3,200

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2018

97,222

7,782

194,796

Additions

29,180

2,122

53,612

Disposals

(25,314

)

-

(36,967

)

At 31 December 2018

101,088

9,904

211,441

DEPRECIATION

At 1 January 2018

28,444

6,367

70,702

Charge for year

18,889

1,559

35,292

Eliminated on disposal

(13,448

)

-

(23,130

)

At 31 December 2018

33,885

7,926

82,864

NET BOOK VALUE

At 31 December 2018

67,203

1,978

128,577

At 31 December 2017

68,778

1,415

124,094

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,062,585

714,413

Other debtors

20,000

-

Amounts owed from group

undertakings

39,362

-

Prepayments

24,164

17,643

1,146,111

732,056

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

101,216

89,139

Amounts owed to group undertakings

1,464,164

779,755

Corporation tax

12,539

-

Social security and other taxes

21,696

22,366

Pension Fund

2,934

2,781

VAT

76,206

85,333

Accrued expenses

39,450

16,873

1,718,205

996,247

7.	FINANCIAL COMMITMENTS

At 31 December 2018 the Company had future minimum lease payments under non-cancellable operating leases totalling

£64,511 (2017 - £85,611).

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

The auditor's report was unqualified. The auditors were BHP LLP and Mr Dominic Staniforth signed the auditor's report as

senior statutory auditor on

9.	CONTINGENT LIABILITIES

The company is currently in discussions with customers who have made claims against the company in relation to the

problems incurred with old CI Matting issues, the value of these claims cannot be accurately predicted. The company has

an agreement with Dural GmbH that any costs incurred will be recharged so as to have no financial impact on the UK

Company.

10.	RELATED PARTY DISCLOSURES

During the year the company traded on a normal commercial basis with the parent company. Total purchases for the year

were £3,731,599 (2017 £2,400,120) and sales were £79,107 (2017 £6,282).

The total amount due to the parent company at the balance sheet date was £1,464,164 (2017 £815,518). The total amount

due from the parent company at the balance sheet date was £39,361 (2017 £95).

11.	PARENT COMPANY

Dural Beteiligungs GmbH, a company registered in Germany is the parent company and owns 100% (2017, 100%) of the

issued share capital of the company via Dural International GmbH. The address of the parent company is Südring 11, 56412

Ruppach-Goldhausen, Germany.