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REGISTERED NUMBER: 09769498 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DM FLEXIBLES LTD

DM FLEXIBLES LTD (REGISTERED NUMBER: 09769498)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DM FLEXIBLES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr D K R Mistry





REGISTERED OFFICE: Granville Hall
Granville Road
Leicester
LE1 7RU





REGISTERED NUMBER: 09769498 (England and Wales)

DM FLEXIBLES LTD (REGISTERED NUMBER: 09769498)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 157,762 67,515
Tangible assets 5 1,677 1,392
159,439 68,907

CURRENT ASSETS
Debtors 6 131,144 119,899
Cash at bank 14,279 985
145,423 120,884
CREDITORS
Amounts falling due within one year 7 266,760 91,808
NET CURRENT (LIABILITIES)/ASSETS (121,337 ) 29,076
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,102

97,983

CREDITORS
Amounts falling due after more than one
year

8

8,051

8,739
NET ASSETS 30,051 89,244

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 9 499,630 499,630
Retained earnings 9 (470,579 ) (411,386 )
SHAREHOLDERS' FUNDS 30,051 89,244

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

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

DM FLEXIBLES LTD (REGISTERED NUMBER: 09769498)

BALANCE SHEET - continued
31 DECEMBER 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 22 August 2024 and were signed by:





Mr D K R Mistry - Director


DM FLEXIBLES LTD (REGISTERED NUMBER: 09769498)

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


1. STATUTORY INFORMATION

DM Flexibles Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The company is supported by the director and shareholders of the company, who will continue to support the company for the foreseeable future. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

The development costs are not yet being amortised as they are not yet fully completed. Once completed amortisation will be spread evenly over their estimated useful life.

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 - 20% on reducing balance
Computer equipment - 33% on cost

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.


DM FLEXIBLES LTD (REGISTERED NUMBER: 09769498)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 68,800
Additions 91,213
At 31 December 2023 160,013
AMORTISATION
At 1 January 2023 1,285
Charge for year 966
At 31 December 2023 2,251
NET BOOK VALUE
At 31 December 2023 157,762
At 31 December 2022 67,515

DM FLEXIBLES LTD (REGISTERED NUMBER: 09769498)

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


5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2023 3,518 1,408 4,926
Additions - 1,090 1,090
At 31 December 2023 3,518 2,498 6,016
DEPRECIATION
At 1 January 2023 2,596 938 3,534
Charge for year 184 621 805
At 31 December 2023 2,780 1,559 4,339
NET BOOK VALUE
At 31 December 2023 738 939 1,677
At 31 December 2022 922 470 1,392

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 56,802 119,899

Amounts falling due after more than one year:
Other debtors 74,342 -

Aggregate amounts 131,144 119,899

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,476 3,744
Trade creditors 3,535 29,980
Taxation and social security 17,701 4,994
Other creditors 242,048 53,090
266,760 91,808

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 8,051 8,739

DM FLEXIBLES LTD (REGISTERED NUMBER: 09769498)

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


9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2023 (411,386 ) 499,630 88,244
Deficit for the year (59,193 ) (59,193 )
At 31 December 2023 (470,579 ) 499,630 29,051

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr D K R Mistry
Balance outstanding at start of year - 17,500
Amounts advanced 14,140 3,560
Amounts repaid (28,562 ) (21,060 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (14,422 ) -

There was no interest charged on the above balances.