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REGISTERED NUMBER: 02319994 (England and Wales)













ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

D.M.G. FREIGHT SERVICES LIMITED

D.M.G. FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 02319994)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


D.M.G. FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 02319994)

ABRIDGED BALANCE SHEET
31ST MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 322,751 281,026

CURRENT ASSETS
Stocks 253 5,630
Debtors 411,827 378,360
Cash at bank and in hand 621,281 450,704
1,033,361 834,694
CREDITORS
Amounts falling due within one year 525,610 491,206
NET CURRENT ASSETS 507,751 343,488
TOTAL ASSETS LESS CURRENT
LIABILITIES

830,502

624,514

CREDITORS
Amounts falling due after more than
one year

-

(17,169

)

PROVISIONS FOR LIABILITIES (52,582 ) (19,988 )
NET ASSETS 777,920 587,357

CAPITAL AND RESERVES
Called up share capital 5 8,000 8,000
Retained earnings 769,920 579,357
SHAREHOLDERS' FUNDS 777,920 587,357

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.M.G. FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 02319994)

ABRIDGED BALANCE SHEET - continued
31ST MARCH 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 26th July 2023 and were signed by:





Mr D G Woollard - Director


D.M.G. FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 02319994)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

D.M.G. Freight Services Limited 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: 02319994

Registered office: Units A & B
Mead Park Industrial Estate
River Way
Harlow
Essex
CM20 2SE

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 1% on cost
Short leasehold - evenly over the lease term
Long leasehold - 5% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - at varying rates on cost
Computer equipment - 33.33% on cost

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

Financial instruments
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially as transaction value and subsequently measured at their settlement value. The company has no bank loans or other more complex financial instruments that require measurement at amortised cost using the effective interest method.


D.M.G. FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 02319994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Government grants
Coronavirus Job Retention Scheme grants have been accounted for on an accruals basis.
The interest paid for by the Government in respect of Bounce Back Loans is shown in the profit and loss account as Government Grants income and also bank loan interest expenditure.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably.Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense.

D.M.G. FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 02319994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1st April 2022 841,829
Additions 326
Disposals (66,207 )
At 31st March 2023 775,948
DEPRECIATION
At 1st April 2022 560,803
Charge for year 36,265
Eliminated on disposal (66,207 )
Revaluation adjustments (77,664 )
At 31st March 2023 453,197
NET BOOK VALUE
At 31st March 2023 322,751
At 31st March 2022 281,026

Certain assets have been adjusted to show their fair value at the balance sheet date.

D.M.G. FREIGHT SERVICES LIMITED (REGISTERED NUMBER: 02319994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST OR VALUATION
At 1st April 2022 145,570
Transfer to ownership (145,570 )
At 31st March 2023 -
DEPRECIATION
At 1st April 2022 50,949
Revaluation adjustments (33,576 )
Transfer to ownership (17,373 )
At 31st March 2023 -
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 94,621

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
8,000 Ordinary £1 8,000 8,000

6. OTHER FINANCIAL COMMITMENTS

The company has a lease for the business premises that commenced on 8th March 2023 for a ten year term.
The full annual rental and service charge excluding value added tax is as follows: £482,172 year one, £660,669 year 2, £716,305 year 3 then £771,940 thereafter.

7. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D G Woollard.

The ultimate controlling party is Mr D G Woollard.