Daropeant Properties Limited

The principal activity of the group during the year was that of commission textile warpers, weavers and menders. Results, performance and developments during the year Challenging environment caused by the Red Sea crisis, which resulted in delays to customer yarn arrivals in the early months of 2024. Despite this year on year revenues were maintained during the financial year ended 31st May 2024. Apparel weaving was again the largest contributor to this increased revenue. Several new weaving customers have in particular helped maintain a strong order intake throughout the financial year and into 2024/2025. Continued investment in the technical weaving division in the financial year has positioned the business to drive future revenues into new markets in the coming financial years. Trading conditions in the industry continue to be competitive, but the business continues to provide first class commission weaving services. This approach ensures that the business is well placed to benefit from any increase in demand. Principal risks and uncertainties The Company strategy and operation is subject to a number of risks and uncertainties, mainly due to the conflict and uncertainty across the globe leading to delays in supply chain and increasing prices for energy. The Directors will continue to meet these challenges through an ongoing review of the business, in order to successfully mitigate these risks. Financial instruments Due to the nature of the financial instruments used by the company there is no material exposure to price risk. The company's approach to managing other risk applicable to the financial instruments concerned are shown below. In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of short term funding. Trade debtors are managed in respect of credit and cash flow by policies concerning the credit offered to to customers and the regular monitoring of amounts outstanding for both time and credit limits. Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due. Key performance indicators Key performance indicators monitored by management include order in-take, weekly revenues, gross margin, aged debtors and cash collection Outlook The directors have considered the results of the current financial year up to the date of this report, the directors aim to continue with the management policies that have resulted in growth in sales over the past few years.