REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
Diono UK Limited |
|
Financial Statements |
|
for the Year Ended 31 December 2021 |
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
Diono UK Limited |
|
Financial Statements |
|
for the Year Ended 31 December 2021 |
|
|
|
|
|
Diono UK Limited (Registered number: 04252542) |
|
Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
Diono UK Limited |
|
Company Information |
for the Year Ended 31 December 2021 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
AUDITORS: |
|
Chartered Accountants and Statutory Auditors |
Sterling House |
97 Lichfield Street |
Tamworth |
Staffordshire |
B79 7QF |
Diono UK Limited (Registered number: 04252542) |
|
Balance Sheet |
31 December 2021 |
|
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
|
( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
8 |
|
|
NET LIABILITIES | ( |
) | ( |
) |
|
CAPITAL AND RESERVES |
Called up share capital | 10 |
|
|
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
|
|
|
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
|
|
|
|
|
|
|
|
Diono UK Limited (Registered number: 04252542) |
|
Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
|
|
1. | STATUTORY INFORMATION |
|
Diono UK Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Going concern |
The financial statements have been prepared on a going concern basis which assumes that the company will continue to operate for the foreseeable future. |
|
Diono UK remains a wholly owned subsidiary of a US company Diono Investments LLC which is majority owned by Winona Capital Partners II. |
|
Diono UK Ltd continues to have group responsibility for all product design, product engineering, product development, brand management and marketing services for all international markets. A service agreement for these activities was entered into between Diono UK Ltd and Diono LLC in 2018. |
|
The directors believe that support afforded is sufficient upon which to adopt the going concern basis. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
Goodwill |
|
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
|
|
|
Tangible fixed assets |
|
Plant and machinery etc | - |
|
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
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. |
|
Diono UK Limited (Registered number: 04252542) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
|
|
2. | ACCOUNTING POLICIES - continued |
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. |
|
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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 1 January 2021 |
and 31 December 2021 |
|
|
|
AMORTISATION |
At 1 January 2021 |
|
|
|
Charge for year |
|
|
|
At 31 December 2021 |
|
|
|
NET BOOK VALUE |
At 31 December 2021 |
|
|
|
At 31 December 2020 |
|
|
|
Diono UK Limited (Registered number: 04252542) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
|
|
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2021 |
and 31 December 2021 |
|
|
|
DEPRECIATION |
At 1 January 2021 |
|
|
|
Charge for year |
|
|
|
At 31 December 2021 |
|
|
|
NET BOOK VALUE |
At 31 December 2021 |
|
|
|
At 31 December 2020 |
|
|
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
|
|
Amounts owed by associates |
|
|
Other debtors |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Amounts owed to associates | 1,247,355 | 1,243,462 |
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
|
|
Amounts owed to group undertakings |
|
|
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | - | 4,167 |
Diono UK Limited (Registered number: 04252542) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
|
|
9. | LEASING AGREEMENTS |
|
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2020 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
10. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
|
Ordinary | 1 | 100 | 100 |
|
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
Qualified opinion |
|
As a result of issues during the relocation of warehousing facilities there were complications in terms of the counting of physical inventories at the end of the year as well as with transfer values used for the transfer. We were unable to satisfy ourselves by alternative means concerning the inventory quantities and subsequent valuation held at 31 December 2021 by using other audit procedures. Consequently, we were unable to determine whether any adjustments to this amount were necessary. |
|
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 Auditors' 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 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 qualified opinion. |
|
We also draw attention to the going concern section of note 2 in the financial statements, which details the changes the Company has implemented. The Company has experienced trading and operational difficulties in prior financial years and the management have made steps to address these issues. However, a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. |
|
|
for and on behalf of Haines Watts Tamworth Limited |
|
12. | ULTIMATE CONTROLLING PARTY |
|
The company is a wholly owned subsidiary of Diono Holdings LLC, a company incorporated in the United States of America. The ultimate controlling party is Diono Investments LLC, also incorporated in the United States of America. Group financial statements are prepared by by the ultimate parent company. |