Company Registration No. 01259946 (England and Wales)
D.M.S. INTERNATIONAL LIMITED
Unaudited accounts
for the year ended 31 December 2022
D.M.S. INTERNATIONAL LIMITED
Unaudited accounts
Contents
D.M.S. INTERNATIONAL LIMITED
Company Information
for the year ended 31 December 2022
Company Number
01259946 (England and Wales)
Registered Office
85 Great Portland Street
First Floor
London
W1W 7LT
D.M.S. INTERNATIONAL LIMITED
Statement of financial position
as at 31 December 2022
Intangible assets
19,000
28,500
Tangible assets
9,554
37,303
Cash at bank and in hand
3,043
22,931
Creditors: amounts falling due within one year
(363,254)
(156,130)
Net current assets
785,051
736,435
Total assets less current liabilities
813,605
802,238
Creditors: amounts falling due after more than one year
(591,352)
(592,378)
Net assets
222,253
209,860
Called up share capital
100
100
Profit and loss account
222,153
209,760
Shareholders' funds
222,253
209,860
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 October 2023 and were signed on its behalf by
Mrs J L Mantell
Director
Company Registration No. 01259946
D.M.S. INTERNATIONAL LIMITED
Notes to the Accounts
for the year ended 31 December 2022
D.M.S. INTERNATIONAL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 01259946. The registered office is 85 Great Portland Street, First Floor, London, W1W 7LT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.3% per annum straight line
Motor vehicles
25% per annum straight line
Fixtures & fittings
33.3% per annum straight line
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is determined on a first in, first out basis. Net realisable value is based on estimated selling price, less any further costs of realisation.
Rentals applicable to operating leases where substantially all of the benefits of risk of ownership remain with the lessor are charged to the profit and loss account as incurred.
Factored debts are included on the balance sheet within trade debtors. The proceeds received from the factor are included as secured liabilities. Factoring charges are recognised as they accrue and are included within interest payable and similar charges.
Pension costs and other post retirement benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently adminstered fund. The pension costs charge represents contributions payable for the period by the company to the fund.
Goodwill is amortised on a straight line basis over its estimated useful economic life of 10 years.
D.M.S. INTERNATIONAL LIMITED
Notes to the Accounts
for the year ended 31 December 2022
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.
Government grants are recognised under the accrual model meaning that grants relating to revenue shall be recognised in income, on a systematic basis over the periods in which the entity recognises the related costs for which the grant is
intended to compensate.
Deferred tax has been provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
4
Intangible fixed assets
Other
At 31 December 2022
95,000
At 31 December 2022
76,000
At 31 December 2022
19,000
At 31 December 2021
28,500
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2022
95,281
116,333
23,028
234,642
At 31 December 2022
97,256
116,333
23,028
236,617
At 1 January 2022
95,281
79,030
23,028
197,339
Charge for the year
641
29,083
-
29,724
At 31 December 2022
95,922
108,113
23,028
227,063
At 31 December 2022
1,334
8,220
-
9,554
At 31 December 2021
-
37,303
-
37,303
D.M.S. INTERNATIONAL LIMITED
Notes to the Accounts
for the year ended 31 December 2022
Amounts falling due within one year
Trade debtors
277,104
853,301
Other debtors
718,158
16,333
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Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
205,367
107,300
Obligations under finance leases and hire purchase contracts
21,913
21,913
Trade creditors
514,073
448,380
Taxes and social security
84,009
77,249
Other creditors
36,794
8,708
Loans from directors
(498,902)
(507,420)
8
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
560,895
540,766
Obligations under finance leases and hire purchase contracts
30,457
51,612
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Overdrawn directors loan
507,420
-
8,518
498,902
The directors loan is overdrawn at the end of the year - interest has been charged on this loan
10
Average number of employees
During the year the average number of employees was 8 (2021: 8).