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DM ELECTRICAL (ESSEX) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2023






DM ELECTRICAL (ESSEX) LIMITED (REGISTERED NUMBER: 07513426)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

DM ELECTRICAL (ESSEX) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTOR: D E Marney





REGISTERED OFFICE: Charter House
103-105 Leigh Road
Leigh on SEa
Essex
SS9 1JL





REGISTERED NUMBER: 07513426 (England and Wales)





ACCOUNTANTS: Clouders
Chartered Certified Accountants
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL

DM ELECTRICAL (ESSEX) LIMITED (REGISTERED NUMBER: 07513426)

BALANCE SHEET
28TH FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 488 1,068
488 1,068

CURRENT ASSETS
Stocks 17,000 8,400
Debtors 6 68,493 97,559
Cash at bank 83,068 38,133
168,561 144,092
CREDITORS
Amounts falling due within one year 7 104,484 75,247
NET CURRENT ASSETS 64,077 68,845
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,565

69,913

CREDITORS
Amounts falling due after more than one
year

8

12,500

17,500
NET ASSETS 52,065 52,413

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 52,064 52,412
SHAREHOLDERS' FUNDS 52,065 52,413

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

DM ELECTRICAL (ESSEX) LIMITED (REGISTERED NUMBER: 07513426)

BALANCE SHEET - continued
28TH FEBRUARY 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 director and authorised for issue on 27th November 2023 and were signed by:





D E Marney - Director


DM ELECTRICAL (ESSEX) LIMITED (REGISTERED NUMBER: 07513426)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023

1. STATUTORY INFORMATION

DM Electrical (Essex) 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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.

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.


DM ELECTRICAL (ESSEX) LIMITED (REGISTERED NUMBER: 07513426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st March 2022
and 28th February 2023 6,000
AMORTISATION
At 1st March 2022
and 28th February 2023 6,000
NET BOOK VALUE
At 28th February 2023 -
At 28th February 2022 -

DM ELECTRICAL (ESSEX) LIMITED (REGISTERED NUMBER: 07513426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st March 2022
and 28th February 2023 457 1,180 2,000 4,413 8,050
DEPRECIATION
At 1st March 2022 305 989 1,902 3,786 6,982
Charge for year 38 48 24 470 580
At 28th February 2023 343 1,037 1,926 4,256 7,562
NET BOOK VALUE
At 28th February 2023 114 143 74 157 488
At 28th February 2022 152 191 98 627 1,068

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 34,351 79,629
PAYE 21,454 17,930
VAT 11,710 -
Prepayments 978 -
68,493 97,559

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,000 5,000
Trade creditors 50,735 31,911
Tax 12,131 14,441
Social security and other taxes - 9,679
Other creditors 34,821 9,538
Directors' current accounts 244 2,445
Accrued expenses 1,553 2,233
104,484 75,247

DM ELECTRICAL (ESSEX) LIMITED (REGISTERED NUMBER: 07513426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans due in 1-2 years 5,000 5,000
Bank loans due in 2-5 years 7,500 12,500
12,500 17,500

9. ULTIMATE CONTROLLING PARTY

The business is controlled by the director.

DM ELECTRICAL (ESSEX) LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
DM ELECTRICAL (ESSEX) LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 28th February 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Clouders
Chartered Certified Accountants
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL


27th November 2023