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REGISTERED NUMBER: 06814736 (England and Wales)














Unaudited Financial Statements

for the Year Ended 28 February 2022

for

D R M Technic Ltd

D R M Technic Ltd (Registered number: 06814736)






Contents of the Financial Statements
for the Year Ended 28 February 2022




Page

Balance Sheet 1

Notes to the Financial Statements 3


D R M Technic Ltd (Registered number: 06814736)

Balance Sheet
28 February 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,862 36,849

CURRENT ASSETS
Stocks 183,685 70,708
Debtors 5 277,202 255,142
Cash at bank and in hand 203,728 253,323
664,615 579,173
CREDITORS
Amounts falling due within one year 6 268,347 340,808
NET CURRENT ASSETS 396,268 238,365
TOTAL ASSETS LESS CURRENT LIABILITIES 428,130 275,214

CREDITORS
Amounts falling due after more than one year 7 (7,500 ) (21,250 )

PROVISIONS FOR LIABILITIES (5,825 ) (6,722 )
NET ASSETS 414,805 247,242

CAPITAL AND RESERVES
Called up share capital 22 22
Retained earnings 414,783 247,220
SHAREHOLDERS' FUNDS 414,805 247,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

D R M Technic Ltd (Registered number: 06814736)

Balance Sheet - continued
28 February 2022


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 August 2022 and were signed by:





Mr M K McGraw - Director


D R M Technic Ltd (Registered number: 06814736)

Notes to the Financial Statements
for the Year Ended 28 February 2022

1. STATUTORY INFORMATION

D R M Technic Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06814736

Registered office: 15c Raleigh Hall Industrial Estate
Eccleshall
Stafford
Staffordshire
ST21 6JL

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.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, given the impact of the Coronavirus upon the economy and therefore the financial statements have been prepared on a 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.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


D R M Technic Ltd (Registered number: 06814736)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

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 11 (2021 - 10 ) .

D R M Technic Ltd (Registered number: 06814736)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 March 2021 24,910 684 15,014
Additions - - 3,622
At 28 February 2022 24,910 684 18,636
DEPRECIATION
At 1 March 2021 7,473 171 11,665
Charge for year 2,491 128 1,743
At 28 February 2022 9,964 299 13,408
NET BOOK VALUE
At 28 February 2022 14,946 385 5,228
At 28 February 2021 17,437 513 3,349

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2021 25,985 12,593 79,186
Additions - 3,513 7,135
At 28 February 2022 25,985 16,106 86,321
DEPRECIATION
At 1 March 2021 15,103 7,925 42,337
Charge for year 2,720 5,040 12,122
At 28 February 2022 17,823 12,965 54,459
NET BOOK VALUE
At 28 February 2022 8,162 3,141 31,862
At 28 February 2021 10,882 4,668 36,849

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 230,296 254,123
Amounts owed by group undertakings 40,000 -
Other debtors 6,906 1,019
277,202 255,142

D R M Technic Ltd (Registered number: 06814736)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,000 3,750
Trade creditors 108,846 151,401
Taxation and social security 144,408 180,373
Other creditors 5,093 5,284
268,347 340,808

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 7,500 21,250

8. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £40,000 (2021 £60,000). This financial commitment represents the total amount of payments remaining on a lease ending in 2024.