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Registration number: 11025917

DMP1 Ltd

trading as 27 Tactical

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

FRS 102 1A

 

DMP1 Ltd

trading as 27 Tactical

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

DMP1 Ltd

trading as 27 Tactical

Company Information

Director

C L Osmond

Company secretary

N C Osmond

Registered office

Chesil House
Dorset Innovation Park
Winfrith Newburgh
Wool
Dorset
DT2 8ZB

Accountants

Kennedy Legg
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
DMP1 Ltd

trading as 27 Tactical
for the Year Ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DMP1 Ltd for the year ended 31 October 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at:
https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of DMP1 Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of DMP1 Ltd and state those matters that we have agreed to state to the Board of Directors of DMP1 Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at:
http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/october/factsheet-163-
audit-exempt-companies.html.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DMP1 Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that DMP1 Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of DMP1 Ltd. You consider that DMP1 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 accounts of DMP1 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 accounts.

......................................

Kennedy Legg
 
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

18 July 2024

 

DMP1 Ltd

trading as 27 Tactical

(Registration number: 11025917)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

18,770

16,836

Current assets

 

Debtors

5

295

2,537

Cash at bank and in hand

 

667

5,910

 

962

8,447

Creditors: Amounts falling due within one year

6

(18,190)

(26,963)

Net current liabilities

 

(17,228)

(18,516)

Total assets less current liabilities

 

1,542

(1,680)

Creditors: Amounts falling due after more than one year

6

(8,357)

(9,438)

Net liabilities

 

(6,815)

(11,118)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(6,817)

(11,120)

Shareholders' deficit

 

(6,815)

(11,118)

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

DMP1 Ltd

trading as 27 Tactical

(Registration number: 11025917)
Balance Sheet as at 31 October 2023

Approved and authorised by the director on 18 July 2024
 

.........................................
C L Osmond
Director

 

DMP1 Ltd

trading as 27 Tactical

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Chesil House
Dorset Innovation Park
Winfrith Newburgh
Wool
Dorset
DT2 8ZB

These financial statements were authorised for issue by the director on 18 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

DMP1 Ltd

trading as 27 Tactical

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

DMP1 Ltd

trading as 27 Tactical

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 November 2022

25,802

6,806

32,608

Additions

4,314

2,696

7,010

At 31 October 2023

30,116

9,502

39,618

Depreciation

At 1 November 2022

12,400

3,372

15,772

Charge for the year

3,543

1,533

5,076

At 31 October 2023

15,943

4,905

20,848

Carrying amount

At 31 October 2023

14,173

4,597

18,770

At 31 October 2022

13,402

3,434

16,836

5

Debtors

Current

2023
£

2022
£

Trade debtors

-

1,830

Prepayments

295

707

 

295

2,537

 

DMP1 Ltd

trading as 27 Tactical

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

1,348

562

Trade creditors

 

1,990

-

Taxation and social security

 

881

1,600

Accruals and deferred income

 

1,318

2,000

Other creditors

 

12,653

22,801

 

18,190

26,963

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

8,357

9,438

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         
 

DMP1 Ltd

trading as 27 Tactical

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

8,357

9,438

2023
£

2022
£

Current loans and borrowings

Bank borrowings

1,348

562