18 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 319,024 319,024 65,144 65,144 65,144 xbrli:pure xbrli:shares iso4217:GBP 02790010 2023-04-01 2024-03-31 02790010 2024-03-31 02790010 2023-03-31 02790010 2022-04-01 2023-03-31 02790010 2023-03-31 02790010 2022-03-31 02790010 bus:Director2 2023-04-01 2024-03-31 02790010 bus:Director1 2023-04-01 2024-03-31 02790010 core:NetGoodwill 2024-03-31 02790010 core:LandBuildings 2023-03-31 02790010 core:PlantMachinery 2023-03-31 02790010 core:FurnitureFittings 2023-03-31 02790010 core:MotorVehicles 2023-03-31 02790010 core:LandBuildings 2024-03-31 02790010 core:PlantMachinery 2024-03-31 02790010 core:FurnitureFittings 2024-03-31 02790010 core:MotorVehicles 2024-03-31 02790010 core:LandBuildings 2023-04-01 2024-03-31 02790010 core:PlantMachinery 2023-04-01 2024-03-31 02790010 core:FurnitureFittings 2023-04-01 2024-03-31 02790010 core:MotorVehicles 2023-04-01 2024-03-31 02790010 core:WithinOneYear 2024-03-31 02790010 core:WithinOneYear 2023-03-31 02790010 core:ShareCapital 2024-03-31 02790010 core:ShareCapital 2023-03-31 02790010 core:RetainedEarningsAccumulatedLosses 2024-03-31 02790010 core:RetainedEarningsAccumulatedLosses 2023-03-31 02790010 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 02790010 core:Non-currentFinancialInstruments 2024-03-31 02790010 core:Non-currentFinancialInstruments 2023-03-31 02790010 core:LandBuildings 2023-03-31 02790010 core:PlantMachinery 2023-03-31 02790010 core:FurnitureFittings 2023-03-31 02790010 core:MotorVehicles 2023-03-31 02790010 bus:Director1 2023-03-31 02790010 bus:Director1 2024-03-31 02790010 bus:Director2 2024-03-31 02790010 bus:Director1 2022-03-31 02790010 bus:Director1 2023-03-31 02790010 bus:SmallEntities 2023-04-01 2024-03-31 02790010 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 02790010 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02790010 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02790010 bus:FullAccounts 2023-04-01 2024-03-31 02790010 core:LandBuildings core:LongLeaseholdAssets 2023-04-01 2024-03-31 02790010 core:NetGoodwill 2023-04-01 2024-03-31 02790010 core:ComputerEquipment 2023-03-31 02790010 core:ComputerEquipment 2023-04-01 2024-03-31 02790010 core:ComputerEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 02790010
DML Marketing Limited
Filleted Unaudited Financial Statements
31 March 2024
DML Marketing Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
109,048
144,106
Investments
7
65,144
65,144
---------
---------
174,192
209,250
Current assets
Stocks
3,624
Debtors
8
2,557,738
3,156,500
Cash at bank and in hand
2,912,951
1,218,371
------------
------------
5,470,689
4,378,495
Creditors: amounts falling due within one year
9
516,009
783,743
------------
------------
Net current assets
4,954,680
3,594,752
------------
------------
Total assets less current liabilities
5,128,872
3,804,002
------------
------------
Capital and reserves
Called up share capital
146
146
Profit and loss account
5,128,726
3,803,856
------------
------------
Shareholders funds
5,128,872
3,804,002
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DML Marketing Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 21 June 2024 , and are signed on behalf of the board by:
Mr A G Oke
Director
Company registration number: 02790010
DML Marketing Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is No 1 High Street, Chalfont St Peter, Gerrards Cross, Buckinghamshire, SL9 9QE, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Fully amortised
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property
-
25% reducing balance
Plant & Machinery
-
33.33% reducing balance
Fixtures & Fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 18 (2023: 18 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
319,024
---------
Amortisation
At 1 April 2023 and 31 March 2024
319,024
---------
Carrying amount
At 31 March 2024
---------
At 31 March 2023
---------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023
21,175
154,944
63,735
86,750
56,634
383,238
Additions
778
6,870
7,648
--------
---------
--------
--------
--------
---------
At 31 Mar 2024
21,175
155,722
63,735
86,750
63,504
390,886
--------
---------
--------
--------
--------
---------
Depreciation
At 1 Apr 2023
19,917
135,599
43,095
7,229
33,292
239,132
Charge for the year
314
8,822
3,358
21,688
8,524
42,706
--------
---------
--------
--------
--------
---------
At 31 Mar 2024
20,231
144,421
46,453
28,917
41,816
281,838
--------
---------
--------
--------
--------
---------
Carrying amount
At 31 Mar 2024
944
11,301
17,282
57,833
21,688
109,048
--------
---------
--------
--------
--------
---------
At 31 Mar 2023
1,258
19,345
20,640
79,521
23,342
144,106
--------
---------
--------
--------
--------
---------
7. Investments
Shares in group undertakings
£
Cost
At 1 April 2023 and 31 March 2024
65,144
--------
Impairment
At 1 April 2023 and 31 March 2024
--------
Carrying amount
At 31 March 2024
65,144
--------
At 31 March 2023
65,144
--------
8. Debtors
2024
2023
£
£
Trade debtors
1,998,677
2,964,992
Other debtors
559,061
191,508
------------
------------
2,557,738
3,156,500
------------
------------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
59,999
102,927
Amounts owed to group undertakings and undertakings in which the company has a participating interest
300
300
Corporation tax
426,417
634,361
Social security and other taxes
29,293
46,155
---------
---------
516,009
783,743
---------
---------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mrs D Mayfield
644
100,000
100,644
Mr A G Oke
60,000
60,000
----
---------
---------
644
160,000
160,644
----
---------
---------
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mrs D Mayfield
644
644
Mr A G Oke
----
----
----
644
644
----
----
----
11. Related party transactions
The company was under the control of Mrs D Mayfield throughout the current and previous year. Mrs D Mayfield is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.