Company Registration No. 14233515 (England and Wales)
By Appointment DMC UK Limited
Unaudited accounts
for the period from 13 July 2022 to 31 December 2023
By Appointment DMC UK Limited
Unaudited accounts
Contents
By Appointment DMC UK Limited
Company Information
for the period from 13 July 2022 to 31 December 2023
Director
Christopher Gulvin
Company Number
14233515 (England and Wales)
Registered Office
Office 2.05 Clockwise
Old Town Hall, 30 Tweedy Road
Bromley
BR1 3FE
United Kingdom
By Appointment DMC UK Limited
Statement of financial position
as at 31 December 2023
Cash at bank and in hand
27,056
Creditors: amounts falling due within one year
(104,434)
Net current liabilities
(27,742)
Called up share capital
10
Profit and loss account
(27,187)
Shareholders' funds
(27,177)
For the period ending 31 December 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 August 2024 and were signed on its behalf by
Christopher Gulvin
Director
Company Registration No. 14233515
By Appointment DMC UK Limited
Notes to the Accounts
for the period from 13 July 2022 to 31 December 2023
By Appointment DMC UK Limited is a private company, limited by shares, registered in England and Wales, registration number 14233515. The registered office is Office 2.05 Clockwise, Old Town Hall, 30 Tweedy Road, Bromley, BR1 3FE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
After considering the overall long-term business plan and future prospects for the company, the Directors are confident that the Company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the Directors have prepared the financial statements on a going concern basis under the historical cost convention and in accordance with FRS 102 and applicable law.
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 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.
By Appointment DMC UK Limited
Notes to the Accounts
for the period from 13 July 2022 to 31 December 2023
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line method
Exemption from preparing consolidated accounts
The company has availed of the exemption under S399 of the Companies Act 2006 which exempts a parent company from preparing consolidated accounts if the company falls within the small companies regime
The company is applying the exemption from audit available under S479 of the Companies Act 2006 given that both it, and the group headed by it, qualify as small entities under the small companies regime.
Exemption from preparing a cash flow statement
In accordance with the requirements of FRS 102, the company is applying the exemption available to small companies to avail of the reduced disclosure framework and has elected not to prepare a cash flow statement.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Financial assets:
Financial assets, other than investments and derivatives, are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost, less any impairment.
Financial liabilities and equity:
Financial liabilities and equity are classified according to the substance of the financial instrument’s contractual obligations, rather than the financial instrument’s legal form. Financial liabilities, excluding convertible debt and derivatives, are initially measured at transaction price (after deducting transaction costs) and subsequently held at amortised cost.
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Tangible fixed assets
Computer equipment
By Appointment DMC UK Limited
Notes to the Accounts
for the period from 13 July 2022 to 31 December 2023
Amounts falling due within one year
Accrued income and prepayments
18,902
6
Creditors: amounts falling due within one year
2023
Bank loans and overdrafts
4,955
Taxes and social security
6,883
Allotted, called up and fully paid:
100 Ordinary shares of £0.10 each
10
Shares issued during the period:
100 Ordinary shares of £0.10 each
10
8
Transactions with related parties
Details of the loan from the Director is set out in the note above. Amounts owed to the Director are unsecured, interest-free and with no fixed terms of repayment.
Other creditors due represents loans received from Emerald VIP Services (Holdings) Limited, the parent company registered in Republic of Ireland. The loans are unsecured, interest-free and with no fixed terms of repayment.
By Appointment DMC UK Limited is 100% owned by Emerald VIP Services (Holdings) Ltd, an entity incorporated in Republic of Ireland. The Company is included in the audited consolidated financial statements of Emerald VIP Services (Holdings) Ltd.
10
Average number of employees
During the period the average number of employees was 2.