Registered number
09211123
DMS Plus Limited
Unaudited Filleted Accounts
31 January 2023
DMS Plus Limited
Company Information
Director
Mr C T J Bolton
Accountants
Keith Graham
Chartered Accountants
Suite 2, Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
Registered office
Unit 2-3, Blacknest Business Park
Blacknest Road, Nr Bentley
Alton
Hampshire
GU34 4PX
Registered number
09211123
DMS Plus Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of DMS Plus Limited for the year ended 31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DMS Plus Limited for the year ended 31 January 2023 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/ en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of DMS Plus Limited, as a body, in accordance with the terms of our engagement letter dated 21 March 2023. Our work has been undertaken solely to prepare for your approval the accounts of DMS Plus Limited and state those matters that we have agreed to state to the Board of Directors of DMS Plus Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DMS Plus Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that DMS Plus Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of DMS Plus Limited. You consider that DMS Plus Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of DMS Plus Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Keith Graham
Chartered Accountants
Suite 2, Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
26 October 2023
DMS Plus Limited
Registered number: 09211123
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1 1,600
Tangible assets 4 105,102 12,096
105,103 13,696
Current assets
Stocks 476,308 468,499
Debtors 5 750,404 894,425
Investments held as current assets 6 1,042,708 1,548,323
Cash at bank and in hand 417,285 734,916
2,686,705 3,646,163
Debtors falling due after more than one year 5 116,627 205,461
2,803,332 3,851,624
Creditors: amounts falling due within one year 7 (976,143) (1,568,935)
Net current assets 1,827,189 2,282,689
Total assets less current liabilities 1,932,292 2,296,385
Creditors: amounts falling due after more than one year 8 (98,564) (12,175)
Provisions for liabilities (21,115) (1,665)
Net assets 1,812,613 2,282,545
Capital and reserves
Called up share capital 78 78
Capital redemption reserve 75 75
Profit and loss account 1,812,460 2,282,392
Shareholder's funds 1,812,613 2,282,545
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C T J Bolton
Director
Approved by the board on 25 October 2023
DMS Plus Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from sale or lease of medical products despatched to customers and training and education provided during the year. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and equipment 20% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Assets held for disposal are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

The accounts contain estimated investment values that are based on assumptions made by the directors that are otherwise uncertain. Estimates are made taking into account historical experience, current trends and other relevant factors. However, because balances cannot be determined with certainty, actual results could be different from the estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price (less costs to complete and sell) and consists of goods for resale. Cost is determined using the first in first out method which is averaged over the period of ownership. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 12 10
3 Intangible fixed assets £
Software:
Cost
At 1 February 2022 12,500
At 31 January 2023 12,500
Amortisation
At 1 February 2022 10,900
Provided during the year 1,599
At 31 January 2023 12,499
Net book value
At 31 January 2023 1
At 31 January 2022 1,600
Software is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and equipment Motor vehicles Total
£ £ £
Cost
At 1 February 2022 23,575 - 23,575
Additions 18,009 105,869 123,878
Disposals (8,869) - (8,869)
At 31 January 2023 32,715 105,869 138,584
Depreciation
At 1 February 2022 11,479 - 11,479
Charge for the year 6,399 21,074 27,473
On disposals (5,470) - (5,470)
At 31 January 2023 12,408 21,074 33,482
Net book value
At 31 January 2023 20,307 84,795 105,102
At 31 January 2022 12,096 - 12,096
5 Debtors 2023 2022
£ £
Trade debtors 568,182 548,748
Amounts owed by group undertakings and undertakings in which the company has a participating interest 295 -
Finance lease receivables 146,219 258,642
Other debtors 35,708 87,035
750,404 894,425
Debtors - amounts falling due after more than one year
Finance lease receivables 116,627 205,461
6 Investments held as current assets 2023 2022
£ £
Fair value
Assets held for disposal 1,042,708 1,548,323
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 459,857
Obligations under finance lease and hire purchase contracts 123,079 69,394
Trade creditors 608,682 623,102
Taxation and social security costs 229,295 380,132
Other creditors 15,087 36,450
976,143 1,568,935
8 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 98,564 12,175
9 Loans 2023 2022
£ £
Creditors include:
Secured bank loans - 459,857
During the period the company repaid the loan. In a prior period, the company had obtained Coronavirus Business Interruption Loan Scheme (CBILS) loans from Funding Circle. The CBILS scheme provides the lender with a government-backed guarantee (100%) against the outstanding facility. The loans have a fixed rate of interest at 8.9% and the interest due in the first 12 months will be covered by a Business Interruption Payment.
10 Finance lease receivables Within 1 year Greater than 1 year Total
£ £ £
Future minimum lease payments 149,875 118,909 268,784
Unearned finance income (3,656) (2,282) (5,938)
Carrying value 146,219 116,627 262,846
IV Devices which are sold under consumables purchase plan agreements.
11 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 55,384 10,182
12 Related party transactions
The company has taken advantage of the exemption in Financial Reporting Standards 102 not to disclose related party transactions with wholly owned group undertakings.
13 Controlling party
The ultimate controlling party is Bolton Holdings Limited, a shareholder of the company. Its registered office is:

Unit 2-3, Blacknest Business Park
Blacknest Road, Nr Bentley
Alton
Hampshire
GU34 4PX
14 Other information
DMS Plus Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2-3, Blacknest Business Park
Blacknest Road, Nr Bentley
Alton
Hampshire
GU34 4PX
The financial statements are presented in Sterling, which is the functional currency of the company.
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