0 false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 145,154 145,154 145,154 xbrli:pure xbrli:shares iso4217:GBP SC646717 2022-03-01 2023-02-28 SC646717 2023-02-28 SC646717 2022-02-28 SC646717 bus:LeadAgentIfApplicable 2022-03-01 2023-02-28 SC646717 bus:Director1 2022-03-01 2023-02-28 SC646717 core:WithinOneYear 2023-02-28 SC646717 core:WithinOneYear 2022-02-28 SC646717 core:ShareCapital 2023-02-28 SC646717 core:ShareCapital 2022-02-28 SC646717 core:RetainedEarningsAccumulatedLosses 2023-02-28 SC646717 core:RetainedEarningsAccumulatedLosses 2022-02-28 SC646717 core:CostValuation core:Non-currentFinancialInstruments 2022-02-28 SC646717 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-02-28 SC646717 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-02-28 SC646717 core:CostValuation core:Non-currentFinancialInstruments 2023-02-28 SC646717 core:Non-currentFinancialInstruments 2023-02-28 SC646717 core:Non-currentFinancialInstruments 2022-02-28 SC646717 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 SC646717 core:LandBuildings core:OwnedOrFreeholdAssets 2022-02-28 SC646717 bus:SmallEntities 2022-03-01 2023-02-28 SC646717 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 SC646717 bus:FullAccounts 2022-03-01 2023-02-28 SC646717 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 SC646717 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28
COMPANY REGISTRATION NUMBER: SC646717
Dimo Services Limited
Filleted Unaudited Financial Statements
28 February 2023
Dimo Services Limited
Financial Statements
Year ended 28 February 2023
Contents
Page
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
Dimo Services Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Dimo Services Limited
Year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dimo Services Limited for the year ended 28 February 2023, which comprise the statement of financial position 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Dimo Services Limited in accordance with the terms of our engagement letter dated 5 August 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Dimo Services Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dimo Services Limited and its director for our work or for this report.
It is your duty to ensure that Dimo Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dimo Services Limited. You consider that Dimo Services 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 financial statements of Dimo Services 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 financial statements.
MARTIN AITKEN & CO LTD Chartered Accountants
Caledonia House 89 Seaward Street Glasgow G41 1HJ
24 November 2023
Dimo Services Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
145,154
145,154
Investments
5
6,929,130
6,119,763
------------
------------
7,074,284
6,264,917
Current assets
Cash at bank and in hand
814,733
26,744
Creditors: amounts falling due within one year
6
814,604
720,434
---------
---------
Net current assets/(liabilities)
129
( 693,690)
------------
------------
Total assets less current liabilities
7,074,413
5,571,227
------------
------------
Net assets
7,074,413
5,571,227
------------
------------
Capital and reserves
Called up share capital
4
4
Profit and loss account
7,074,409
5,571,223
------------
------------
Shareholders funds
7,074,413
5,571,227
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dimo Services Limited
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 24 November 2023 , and are signed on behalf of the board by:
Mr R McIver
Director
Company registration number: SC646717
Dimo Services Limited
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 48 West George Street, Office 2/3, Glasgow, G2 1BP, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis as modified by the revaluation of investments measured at fair value through profit and loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider that there are no such significant judgements.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Freehold property
£
Cost
At 1 March 2022 and 28 February 2023
145,154
---------
Depreciation
At 1 March 2022 and 28 February 2023
---------
Carrying amount
At 28 February 2023
145,154
---------
At 28 February 2022
145,154
---------
The directors consider the fair value of the property at 28 February 2023 to be £145,154. Any movement in the Fair Value of the property will be reflected through the Profit and loss account. In the opinion of the directors to depreciate the investment property would not show a true and fair view.
5. Investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost
At 1 March 2022
2
6,119,761
6,119,763
Additions
412,167
412,167
Revaluations
397,200
397,200
----
------------
------------
At 28 February 2023
2
6,929,128
6,929,130
----
------------
------------
Impairment
At 1 March 2022 and 28 February 2023
----
------------
------------
Carrying amount
At 28 February 2023
2
6,929,128
6,929,130
----
------------
------------
At 28 February 2022
2
6,119,761
6,119,763
----
------------
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
811,954
719,184
Other creditors
2,650
1,250
---------
---------
814,604
720,434
---------
---------