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 2021

for

Dural (U K) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

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

39,827

71,677

CURRENT ASSETS

Stocks

585,992

818,029

Debtors

5

2,128,739

1,305,207

Cash at bank and in hand

2,274,859

579,488

4,989,590

2,702,724

CREDITORS

Amounts falling due within one year

6

3,234,696

1,402,957

NET CURRENT ASSETS

1,754,894

1,299,767

TOTAL ASSETS LESS CURRENT LIABILITIES

1,794,721

1,371,444

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Share premium

7,200

7,200

Retained earnings

1,785,521

1,362,244

1,794,721

1,371,444

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 28 April 2022 and were signed 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.

Going concern

The financial statements have been prepared on a going concern basis.

At 31 December 2021 the company reported net assets of £1,794,721

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

-

10% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

33% on cost

Computer equipment

-

50% on cost

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 27 (2020 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2021

46,654

37,609

15,691

Additions

-

450

790

Disposals

-

-

-

At 31 December 2021

46,654

38,059

16,481

DEPRECIATION

At 1 January 2021

23,291

32,053

5,901

Charge for year

5,841

2,425

2,378

Eliminated on disposal

-

-

-

At 31 December 2021

29,132

34,478

8,279

NET BOOK VALUE

At 31 December 2021

17,522

3,581

8,202

At 31 December 2020

23,363

5,556

9,790

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2021

114,055

9,904

223,913

Additions

-

-

1,240

Disposals

(26,981

)

-

(26,981

)

At 31 December 2021

87,074

9,904

198,172

DEPRECIATION

At 1 January 2021

81,087

9,904

152,236

Charge for year

22,446

-

33,090

Eliminated on disposal

(26,981

)

-

(26,981

)

At 31 December 2021

76,552

9,904

158,345

NET BOOK VALUE

At 31 December 2021

10,522

-

39,827

At 31 December 2020

32,968

-

71,677

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

2,097,073

1,276,948

Deferred tax asset

4,374

2,113

Prepayments

27,292

26,146

2,128,739

1,305,207

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

288,525

114,393

Amounts owed to group undertakings

2,374,630

752,836

Corporation tax

106,657

105,684

Social security and other taxes

18,160

17,868

Pension Fund

3,544

9,591

VAT

150,862

194,280

Accrued expenses

292,318

208,305

3,234,696

1,402,957

7.	FINANCIAL COMMITMENTS

At 31 December 2021 the Company had future minimum lease payments under non-cancellable operating leases totalling £153,859 (2020 - £8,511).

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

The auditor's report was unqualified. The auditors were BHP LLP and Mr Adrian Staniforth signed the auditor's report as senior statutory auditor on 28th April 2022.

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption, as permitted by paragraph 1(A) of chapter 33 of FRS102, not to disclose related party transactions between group companies. Copies of the financial statements of Dural GmbH can be obtained by writing to Südring 11, 56412 Ruppach-Goldhausen, Germany.

10.	PARENT COMPANY

Dural Beteiligungs GmbH, a company registered in Germany is the parent company and owns 100% (2020, 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.