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REGISTERED NUMBER: 02583486 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

DMS Direct Limited

DMS Direct Limited (Registered number: 02583486)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DMS Direct Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Ms Lopa Patel
Mr Amit Pravin Patel



SECRETARY: Mr Amit Pravin Patel



REGISTERED OFFICE: Unit 3 Cedar Court
1 Royal Oak Yard
London
SE1 3GA



REGISTERED NUMBER: 02583486 (England and Wales)



ACCOUNTANTS: ElanTax.com
Unit 3 Cedar Court
1 Royal Oak Yard
London
SE1 3GA



BANKERS: Barclays Bank plc
PO Box 110
20 The Town
Enfield
Middlesex
EN2 6LY

DMS Direct Limited (Registered number: 02583486)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 600,000 600,000

CURRENT ASSETS
Debtors 5 700 16,061
Cash at bank 167,664 144,424
168,364 160,485
CREDITORS
Amounts falling due within one year 6 83,586 84,508
NET CURRENT ASSETS 84,778 75,977
TOTAL ASSETS LESS CURRENT
LIABILITIES

684,778

675,977

CREDITORS
Amounts falling due after more than one
year

7

(444,687

)

(444,687

)

PROVISIONS FOR LIABILITIES (29,405 ) (29,405 )
NET ASSETS 210,686 201,885

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Revaluation reserve 8 7,160 7,160
Retained earnings 8 183,526 174,725
SHAREHOLDERS' FUNDS 210,686 201,885

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

DMS Direct Limited (Registered number: 02583486)

Balance Sheet - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:





Ms Lopa Patel - Director


DMS Direct Limited (Registered number: 02583486)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

DMS Direct Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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 2 (2022 - 2 ) .

DMS Direct Limited (Registered number: 02583486)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 600,000
NET BOOK VALUE
At 31 March 2023 600,000
At 31 March 2022 600,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors - 15,477
Prepayments 700 584
700 16,061

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Payments on account 3,643 -
PAYE & NIC control - 589
Tax 3,003 3,156
Prepaid income 12,054 12,007
VAT 2,457 2,471
Directors' current accounts 61,059 64,915
Accrued expenses 1,370 1,370
83,586 84,508

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Preference shares 10,000 10,000
Directors' loan accounts 434,687 434,687
444,687 444,687

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2022 174,725 7,160 181,885
Profit for the year 12,801 12,801
Dividends (4,000 ) (4,000 )
At 31 March 2023 183,526 7,160 190,686

DMS Direct Limited (Registered number: 02583486)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Ms Lopa Patel
Balance outstanding at start of year (39,374 ) (45,314 )
Amounts advanced 1,928 (60 )
Amounts repaid - 6,000
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (37,446 ) (39,374 )

Mr Amit Pravin Patel
Balance outstanding at start of year (460,228 ) (466,168 )
Amounts advanced 1,928 (60 )
Amounts repaid - 6,000
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (458,300 ) (460,228 )

10. RELATED PARTY DISCLOSURES

The company was under the control of Mr A Patel, a director and members of his close family throughout the current and previous year. Mr A Patel is personally interested in 50% (2022 - 50%) of the company's share capital. In addition, his spouse controls in aggregate a further 50% (2022--50%) of the company's issued share capital.
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.