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REGISTERED NUMBER: 10782905 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

DMI SERVICES (UK) LTD

DMI SERVICES (UK) LTD (REGISTERED NUMBER: 10782905)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

DMI SERVICES (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr D K Malone





REGISTERED OFFICE: Office 320, Building 3
North London Business Park
Oakleigh Road South
London
N11 1GN





REGISTERED NUMBER: 10782905 (England and Wales)





ACCOUNTANTS: Chris Skarparis & Co Ltd
Chartered Accountants
2nd Floor
10(b) Aldermans Hill
Palmers Green
London
N13 4PJ

DMI SERVICES (UK) LTD (REGISTERED NUMBER: 10782905)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 126,000 157,500
Tangible assets 5 29,026 37,637
155,026 195,137

CURRENT ASSETS
Debtors 6 136,949 106,077
Cash at bank 153,186 16,920
290,135 122,997
CREDITORS
Amounts falling due within one year 7 101,213 44,191
NET CURRENT ASSETS 188,922 78,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

343,948

273,943

CREDITORS
Amounts falling due after more than one
year

8

(231,146

)

(252,314

)

PROVISIONS FOR LIABILITIES 11 (7,257 ) (7,152 )
NET ASSETS 105,545 14,477

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 105,445 14,377
SHAREHOLDERS' FUNDS 105,545 14,477

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

DMI SERVICES (UK) LTD (REGISTERED NUMBER: 10782905)

BALANCE SHEET - continued
31 MAY 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 20 February 2024 and were signed by:





Mr D K Malone - Director


DMI SERVICES (UK) LTD (REGISTERED NUMBER: 10782905)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

DMI Services (UK) Limited is a private company, limited by shares, registered in England and Wales. The
company's registered number is 10782905 and registered office address is Office 235, Building 3 North London Business Park, Oakleigh Road South, London, United Kingdom, N11 1GN.

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 2017, is being amortised evenly over its estimated useful life of ten years.

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 - 20% on reducing balance
Computer equipment - 20% on reducing balance

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.

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.

Finance cost amortisation
Finance costs incurred in connection with the arrangement of bank loans are capitalised as a reduction to the loan and then amortised , on a straight line basis, over the duration of the loans.

Revenue recognition
Amounts due under contracts-not yet invoiced (work in progress) are valued in at the recoverable standard value of time charged by all personnel engaged in the provision of engineering services. Revenue is recognised as the contracts progress to reflect the partial performance of the contractual obligation. The amount of revenue recognised reflects the accrual of the right for consideration as contract activity progresses by reference to the value of work performed.

DMI SERVICES (UK) LTD (REGISTERED NUMBER: 10782905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued

Going concern
As with most businesses the Company has been affected by the ongoing impact of Covid-19, the exit from the European Union and the high level of inflation in the UK economy. These have had an impact on the operations, customers, suppliers and staff. The Company is taking all the steps it can to protect the future of the business. Although the total impact is still uncertain the director believes that it is appropriate to prepare the accounts on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 315,000
AMORTISATION
At 1 June 2022 157,500
Amortisation for year 31,500
At 31 May 2023 189,000
NET BOOK VALUE
At 31 May 2023 126,000
At 31 May 2022 157,500

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2022 79,441 2,010 10,161 91,612
Additions - - 565 565
At 31 May 2023 79,441 2,010 10,726 92,177
DEPRECIATION
At 1 June 2022 48,740 443 4,792 53,975
Charge for year 7,676 313 1,187 9,176
At 31 May 2023 56,416 756 5,979 63,151
NET BOOK VALUE
At 31 May 2023 23,025 1,254 4,747 29,026
At 31 May 2022 30,701 1,567 5,369 37,637

DMI SERVICES (UK) LTD (REGISTERED NUMBER: 10782905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 129,517 85,018
Amounts recoverable on contract 5,099 16,926
Other debtors - 1,800
Deposit 2,333 2,333
136,949 106,077

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 21,051 21,051
Trade creditors 1,711 (1,401 )
Tax 29,347 (9,302 )
Social security and other taxes 3,823 3,384
VAT 30,040 16,080
Net wages control a/c 13,849 13,770
Pension payables 396 348
Directors' current accounts 996 261
101,213 44,191

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loan 1 - 1-2 years 21,051 21,051
Bank loan 1 - 2-5 years 52,628 63,153
Bank loan 1 - more 5 yr by ins - 10,526
Finance costs (1,533 ) (1,916 )
Directors' loan accounts 159,000 159,500
231,146 252,314

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 1 - more 5 yr by ins - 10,526

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 94,730 115,781

The bank holds a general pledge and a fixed and floating charge over all of the company's assets

DMI SERVICES (UK) LTD (REGISTERED NUMBER: 10782905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

10. DIRECTOR'S LOAN

Included in Creditors - amounts falling due after more than one year is a loan of £159,000 (2022-£159,500) due to the Director. This loan is recognised at transaction price. The director's loan is not due until after more than 1 year and is interest free.

11. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax
Accelerated capital allowances 7,257 7,152

Deferred
tax
£   
Balance at 1 June 2022 7,152
Charge to Income Statement during year 105
Balance at 31 May 2023 7,257

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100

13. RESERVES
Retained
earnings
£   

At 1 June 2022 14,377
Profit for the year 144,068
Dividends (53,000 )
At 31 May 2023 105,445

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £53,000 were paid to the director .

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DMI SERVICES (UK) LTD

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DMI Services (UK) Ltd for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet, 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of DMI Services (UK) Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of DMI Services (UK) Ltd and state those matters that we have agreed to state to the director of DMI Services (UK) Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DMI Services (UK) Ltd and its director for our work or for this report.

It is your duty to ensure that DMI Services (UK) Ltd 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 DMI Services (UK) Ltd. You consider that DMI Services (UK) Ltd 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 DMI Services (UK) Ltd. 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.






Chris Skarparis & Co Ltd
Chartered Accountants
2nd Floor
10(b) Aldermans Hill
Palmers Green
London
N13 4PJ


20 February 2024