DMC FLOORING SPECIALISTS LIMITED

Company Registration Number:
03781055 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

DMC FLOORING SPECIALISTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

DMC FLOORING SPECIALISTS LIMITED

Balance sheet

As at 31 March 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 3,615 4,191
Total fixed assets: 3,615 4,191
Current assets
Stocks: 229,279 315,135
Debtors:   2,104,573 2,111,799
Cash at bank and in hand: 23,574 16,587
Total current assets: 2,357,426 2,443,521
Creditors: amounts falling due within one year:   (441,436) (401,043)
Net current assets (liabilities): 1,915,990 2,042,478
Total assets less current liabilities: 1,919,605 2,046,669
Total net assets (liabilities): 1,919,605 2,046,669
Capital and reserves
Called up share capital: 1,275,002 1,275,002
Profit and loss account: 644,603 771,667
Shareholders funds: 1,919,605 2,046,669

The notes form part of these financial statements

DMC FLOORING SPECIALISTS LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 March 2024
and signed on behalf of the board by:

Name: David McCartney
Status: Director

The notes form part of these financial statements

DMC FLOORING SPECIALISTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover consists of the invoiced value (excluding VAT) receivable by the company in the ordinary course of business for goods supplied and for services supplied as a principal.

Tangible fixed assets and depreciation policy

Depreciation is calculated to write off the cost, less estimated residual values, of tangible fixed assets over their estimated useful lives to the business. Where there is evidence of impairment, fixed assets are written down to receivable amount. Any such write down would be charged to operating profit.Motor Vehicles 25.0% Reducing BalancePlant & Machinery 25.0% Reducing BalanceComputers 25.0% Reducing BalanceFixtures, Fittings & Office Equipment 25.0% Reducing Balance

Other accounting policies

Deferred TaxationDeferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.Stock, work in progress and long-term contractsStock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is determined on a first-in. first-out basis. Cost consists of direct materials, labour and attributable overheads. Net realisable value is based on estimated selling price less any further costs of realisation.Pension CostsContributions in respect of the company's defined contribution pension scheme are charged to profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid are shown as either accruals or prepayments at the year end.

DMC FLOORING SPECIALISTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

2023 2022
Average number of employees during the period 1 2

DMC FLOORING SPECIALISTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible Assets

Total
Cost £
At 01 April 2022 78,763
At 31 March 2023 78,763
Depreciation
At 01 April 2022 74,572
Charge for year 576
At 31 March 2023 75,148
Net book value
At 31 March 2023 3,615
At 31 March 2022 4,191

DMC FLOORING SPECIALISTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Related party transactions

Name of the related party: DMC Contracts Ltd
Relationship:
Common Director
Description of the Transaction: Sales
£
Balance at 01 April 2022 234,610
Balance at 31 March 2023 245,124