DMS Media Limited 07902414 false 2017-03-01 2018-02-28 2018-02-28 The principal activity of the company is consultancy and design services to the media industry. Digita Accounts Production Advanced 6.21.8540.0 Software true true 07902414 2017-03-01 2018-02-28 07902414 2018-02-28 07902414 core:RetainedEarningsAccumulatedLosses 2018-02-28 07902414 core:ShareCapital 2018-02-28 07902414 core:CurrentFinancialInstruments 2018-02-28 07902414 core:CurrentFinancialInstruments core:WithinOneYear 2018-02-28 07902414 core:FurnitureFittingsToolsEquipment 2018-02-28 07902414 core:OtherPropertyPlantEquipment 2018-02-28 07902414 bus:SmallEntities 2017-03-01 2018-02-28 07902414 bus:AuditExemptWithAccountantsReport 2017-03-01 2018-02-28 07902414 bus:FullAccounts 2017-03-01 2018-02-28 07902414 bus:RegisteredOffice 2017-03-01 2018-02-28 07902414 bus:Director2 2017-03-01 2018-02-28 07902414 bus:PrivateLimitedCompanyLtd 2017-03-01 2018-02-28 07902414 core:ComputerEquipment 2017-03-01 2018-02-28 07902414 core:FurnitureFittings 2017-03-01 2018-02-28 07902414 core:FurnitureFittingsToolsEquipment 2017-03-01 2018-02-28 07902414 core:OtherPropertyPlantEquipment 2017-03-01 2018-02-28 07902414 countries:AllCountries 2017-03-01 2018-02-28 07902414 2017-02-28 07902414 core:FurnitureFittingsToolsEquipment 2017-02-28 07902414 core:OtherPropertyPlantEquipment 2017-02-28 07902414 2016-02-29 2017-02-28 07902414 2017-02-28 07902414 core:RetainedEarningsAccumulatedLosses 2017-02-28 07902414 core:ShareCapital 2017-02-28 07902414 core:CurrentFinancialInstruments 2017-02-28 07902414 core:CurrentFinancialInstruments core:WithinOneYear 2017-02-28 07902414 core:FurnitureFittingsToolsEquipment 2017-02-28 07902414 core:OtherPropertyPlantEquipment 2017-02-28 iso4217:GBP xbrli:pure

Registration number: 07902414

DMS Media Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2018

 

DMS Media Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 4

 

DMS Media Limited

(Registration number: 07902414)
Balance Sheet as at 28 February 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

7,925

10,681

Current assets

 

Debtors

5

100,321

53,008

Cash at bank and in hand

 

159,444

288,906

 

259,765

341,914

Creditors: Amounts falling due within one year

6

(98,146)

(110,828)

Net current assets

 

161,619

231,086

Total assets less current liabilities

 

169,544

241,767

Provisions for liabilities

(1,506)

(2,029)

Net assets

 

168,038

239,738

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

167,938

239,638

Total equity

 

168,038

239,738

For the financial year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 November 2018 and signed on its behalf by:
 


Mrs M Strong
Director

   
 

DMS Media Limited

Notes to the Financial Statements for the Year Ended 28 February 2018

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
3 Norton Road
Baldock
Hertfordshire
SG7 5AP

These financial statements were authorised for issue by the Board on 9 November 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% straight line basis

Computer and office equipment

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

DMS Media Limited

Notes to the Financial Statements for the Year Ended 28 February 2018

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2017 - 4).

 

DMS Media Limited

Notes to the Financial Statements for the Year Ended 28 February 2018

4

Tangible assets

Furniture, fittings and equipment
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 March 2017

18,201

4,403

22,604

Additions

3,267

-

3,267

At 28 February 2018

21,468

4,403

25,871

Depreciation

At 1 March 2017

9,003

2,920

11,923

Charge for the period

5,363

660

6,023

At 28 February 2018

14,366

3,580

17,946

Carrying amount

At 28 February 2018

7,102

823

7,925

At 28 February 2017

-

10,681

10,681

5

Debtors

2018
£

2017
£

Trade debtors

100,321

53,008

Total current trade and other debtors

100,321

53,008

6

Creditors

2018
£

2017
£

Due within one year

Trade creditors

34,675

55,829

Social security and other taxes

28,027

22,492

Other creditors

35,444

32,507

98,146

110,828