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REGISTERED NUMBER: 01705999 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 March 2024

for

D M S Plastics Limited

D M S Plastics Limited (Registered number: 01705999)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D M S Plastics Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P R Mumford
P A Draper





REGISTERED OFFICE: Lingen Road
Ludlow Business Park
Ludlow
Shropshire
SY8 1XD





REGISTERED NUMBER: 01705999 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Chartered Accountants
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

D M S Plastics Limited (Registered number: 01705999)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 931,489 942,599

CURRENT ASSETS
Stocks 170,697 210,689
Debtors 5 311,874 711,574
Cash at bank and in hand 424,066 187,815
906,637 1,110,078
CREDITORS
Amounts falling due within one year 6 1,249,113 1,635,150
NET CURRENT LIABILITIES (342,476 ) (525,072 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

589,013

417,527

CREDITORS
Amounts falling due after more than one
year

7

(61,687

)

(47,263

)

PROVISIONS FOR LIABILITIES (223,600 ) (160,000 )
NET ASSETS 303,726 210,264

CAPITAL AND RESERVES
Called up share capital 1,500 1,500
Retained earnings 302,226 208,764
SHAREHOLDERS' FUNDS 303,726 210,264

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

D M S Plastics Limited (Registered number: 01705999)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 16 July 2024 and were signed on its behalf by:




P R Mumford - Director



P A Draper - Director


D M S Plastics Limited (Registered number: 01705999)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

D M S Plastics Limited 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.

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.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has been transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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 - at variable rates on reducing balance
Fixtures & computer equipment - 10% to 25% on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 30 ) .

D M S Plastics Limited (Registered number: 01705999)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and & computer Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2023 2,208,520 248,259 276,208 2,732,987
Additions - - 120,260 120,260
Disposals - - (123,765 ) (123,765 )
At 31 March 2024 2,208,520 248,259 272,703 2,729,482
DEPRECIATION
At 1 April 2023 1,394,031 240,503 155,854 1,790,388
Charge for year 40,724 4,281 37,711 82,716
Eliminated on disposal - - (75,111 ) (75,111 )
At 31 March 2024 1,434,755 244,784 118,454 1,797,993
NET BOOK VALUE
At 31 March 2024 773,765 3,475 154,249 931,489
At 31 March 2023 814,489 7,756 120,354 942,599

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 306,329 588,251
Directors' loan accounts - 117,487
Prepayments and accrued income 5,545 5,836
311,874 711,574

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 24,313 23,205
Trade creditors 129,168 348,529
Amounts owed to group undertakings 261,000 261,000
Amounts owed to related undertakings 15,496 5,496
Tax 88,000 121,000
Social security and other taxes 98,605 96,560
Other creditors 595,080 740,121
Directors' loan accounts 25,451 26,239
Accrued expenses 2,000 3,000
1,249,113 1,635,150

Other creditors includes £168,898 (2023 - £125,368) due to RBS Invoice Finance Limited.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 14,167 24,168
Hire purchase contracts 47,520 23,095
61,687 47,263

D M S Plastics Limited (Registered number: 01705999)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 24,167 34,168
Hire purchase contracts 71,833 46,300
RBS Invoice Finance Limited 168,898 125,368
264,898 205,836

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
P R Mumford
Balance outstanding at start of year 117,487 -
Amounts advanced 73,687 117,487
Amounts repaid (191,174 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 117,487

The director repaid the amount due on his loan account to the company after the year end.

10. RELATED PARTY DISCLOSURES

At 31 March 2024 the directors were owed £25,451 (2023 owed £3,005).

At 31 March 2024 the company owed £261,000 (2023 - £261,000) to Draford Limited.

At 31 March 2024 the company owed £358,797 (2023 - £551,196) to DMS Group Limited, a company
under the control of a shareholder of the parent company.

At 31 March 2024 the company was owed £76 (2023 - £91,247 owed to the directors) by the directors.

The company has given a fixed and floating charge over its assets to a director and shareholder of the ultimate parent company, Draford Limited.

11. ULTIMATE CONTROLLING PARTY

The immediate parent company of DMS Plastics Limited is Gaydonfield Associates Limited.

The ultimate parent company is Draford Limited, a company with a registered office address at Church Court, Stourbridge Road, Halesowen, West Midlands B63 3TT.