Registered number
14110973
DMS Rentals Limited
Unaudited Filleted Accounts
31 January 2023
DMS Rentals Limited
Company Information
Director
Mr C T J Bolton (appointed on 17 May 2022)
Dr A V Bolton (appointed 16 August 2023)
Ms E M Bolton (appointed 16 August 2023)
Ms K N Bolton (appointed 16 August 2023)
Ms K N Bolton (resigned 16 August 2023)
Accountants
Keith Graham
Chartered Accountants
Suite 2 Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
Bankers
Lloyds Bank plc
25 Gresham Street
London
EC2V 7HN
Registered office
12 The Market Place
Market Bosworth
Nuneaton
Leicestershire
CV13 0LE
Registered number
14110973
DMS Rentals Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of DMS Rentals Limited for the period 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 Rentals Limited for the period 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 Rentals 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 Rentals Limited and state those matters that we have agreed to state to the Board of Directors of DMS Rentals 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 Rentals Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that DMS Rentals 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 Rentals Limited. You consider that DMS Rentals Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of DMS Rentals 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 Rentals Limited
Registered number: 14110973
Balance Sheet
as at 31 January 2023
Notes 2023
£
Fixed assets
Tangible assets 3 496,290
Investments 4 378,479
874,769
Current assets
Debtors 5 300
Cash at bank and in hand 32,016
32,316
Creditors: amounts falling due within one year 6 (847,022)
Net current liabilities (814,706)
Total assets less current liabilities 60,063
Provisions for liabilities (14,475)
Net assets 45,588
Capital and reserves
Called up share capital 1
Profit and loss account 45,587
Shareholder's funds 45,588
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 26 October 2023
DMS Rentals Limited
Notes to the Accounts
for the period from 17 May 2022 to 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 the rendering of services. Turnover represents the value, of residential and non-residential letting and rental services provided to customers.
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:
Investment properties Revalued to fair value annually
Plant and machinery 20% Straight Line
Investment properties
Paragraph 16.7 of FRS 102 requires investment properties to be measured at fair value at each reporting date. All increases and decreases in value are taken to the profit and loss in the year. Information regarding the valuation method can be seen in note 3.
Judgement of valuers
The accounts contains estimated figures 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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
Additions 495,000 1,290 496,290
At 31 January 2023 495,000 1,290 496,290
Depreciation
At 31 January 2023 - - -
Net book value
At 31 January 2023 495,000 1,290 496,290
Freehold land and buildings: 2023
£
Historical cost 437,102
Cumulative depreciation based on historical cost -
437,102
The valuation was carried out by Mr C Bolton, a director in the company, as at the 31 January 2023. This valuation was calculated through the use of freely available online property valuation websites, adjusted for timing based on any movements for the year end and Mr Bolton's knowledge and understanding of the property market in the local area.
4 Investments
Other
investments
£
Cost
Additions 378,479
At 31 January 2023 378,479
5 Debtors 2023
£
Other debtors 300
6 Creditors: amounts falling due within one year 2023
£
Trade creditors 559
Amounts owed to group undertakings and undertakings in which the company has a participating interest 837,441
Taxation and social security costs 1,400
Other creditors 7,622
847,022
7 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.
8 Controlling party
The ultimate controlling party during the year is Bolton Holdings Limited, due to its shareholding. Its registered office is:

Unit 2-3 Blacknest Business Park,
Blacknest Road,
Near Bentley,
Alton,
Hampshire,
GU34 4PX
9 Other information
DMS Rentals Limited is a private company limited by shares and incorporated in England. Its registered office is:
12 The Market Place
Market Bosworth
Nuneaton
Leicestershire
CV13 0LE
The financial statements are presented in Sterling, which is the functional currency of the company.
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