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REGISTERED NUMBER: 01553793 (England and Wales)


























FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

KIRKPACE LIMITED
T/A
DMS TECHNOLOGIES

KIRKPACE LIMITED (REGISTERED NUMBER: 01553793)
T/A DMS TECHNOLOGIES

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KIRKPACE LIMITED
T/A DMS TECHNOLOGIES

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr M Winter
Mr A S P Fenn
Mr D S Burrows
Mr K T Sillence



REGISTERED OFFICE: Unit 1
Belbins Business Park
Cupernham Lane
Romsey
Hampshire
SO51 7JF



REGISTERED NUMBER: 01553793 (England and Wales)



SENIOR STATUTORY AUDITOR: Graham Taylor



AUDITORS: Langdowns DFK Limited
Statutory Auditor
Fleming Court
Leigh Road
Eastleigh
Southampton
Hampshire
SO50 9PD

KIRKPACE LIMITED (REGISTERED NUMBER: 01553793)
T/A DMS TECHNOLOGIES

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 604,152 576,605
Investments 6 683,811 683,811
1,287,963 1,260,416

CURRENT ASSETS
Stocks 993,630 891,486
Debtors 7 612,592 1,104,579
Cash at bank and in hand 1,310,420 973,412
2,916,642 2,969,477
CREDITORS
Amounts falling due within one year 8 807,473 963,429
NET CURRENT ASSETS 2,109,169 2,006,048
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,397,132

3,266,464

CREDITORS
Amounts falling due after more than one
year

9

(113,637

)

(204,546

)

PROVISIONS FOR LIABILITIES (19,338 ) (8,356 )
NET ASSETS 3,264,157 3,053,562

CAPITAL AND RESERVES
Called up share capital 11 11,500 11,500
Share premium 2,187 2,187
Capital redemption reserve 351 351
Retained earnings 3,250,119 3,039,524
SHAREHOLDERS' FUNDS 3,264,157 3,053,562

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 24 October 2024 and were signed on its behalf by:





Mr D S Burrows - Director


KIRKPACE LIMITED (REGISTERED NUMBER: 01553793)
T/A DMS TECHNOLOGIES

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Kirkpace 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Kirkpace Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line
Plant and machinery - 10 - 20% straight line
Fixtures and fittings - 10 - 20% straight line
Office equipment - 10 - 33% straight line

All fixed assets are initially recorded at cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

The company has a policy in place to consider obsolete and slow moving stock. The policy considers the date of when each stock line was last acquired, the company then applies a percentage reduction to the value of each stock line that meets the parameters of the policy.

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.


KIRKPACE LIMITED (REGISTERED NUMBER: 01553793)
T/A DMS TECHNOLOGIES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. 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.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs
The company contributes to defined contribution pension schemes. Contributions payable for the year are charged in the profit and loss account. The assets of the schemes are held separately from those of the company.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement in administrative expenses.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 30 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Office
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 814,676 152,528 24,096 57,548 1,048,848
Additions - 33,775 4,409 16,410 54,594
Disposals - (2,350 ) - - (2,350 )
At 31 March 2024 814,676 183,953 28,505 73,958 1,101,092
DEPRECIATION
At 1 April 2023 278,150 137,444 23,278 33,371 472,243
Charge for year 11,767 4,104 325 9,228 25,424
Eliminated on disposal - (727 ) - - (727 )
At 31 March 2024 289,917 140,821 23,603 42,599 496,940
NET BOOK VALUE
At 31 March 2024 524,759 43,132 4,902 31,359 604,152
At 31 March 2023 536,526 15,084 818 24,177 576,605

KIRKPACE LIMITED (REGISTERED NUMBER: 01553793)
T/A DMS TECHNOLOGIES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 683,811
NET BOOK VALUE
At 31 March 2024 683,811
At 31 March 2023 683,811

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 415,867 715,740
Amounts owed by group undertakings 156,196 368,110
Other debtors 40,529 20,729
612,592 1,104,579

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 90,908 90,908
Trade creditors 396,933 418,028
Amounts owed to group undertakings 7,501 7,501
Taxation and social security 110,559 139,039
Other creditors 201,572 307,953
807,473 963,429

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 113,637 204,546

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 204,545 295,454

Bank loans are secured by way of a Debenture.

Bank loans include £204,545 (2023: £295,454) borrowed under the Coronavirus Business Interruption Loan Scheme. The UK Government has provided the lender with a partial guarantee on the capital of the loan.

KIRKPACE LIMITED (REGISTERED NUMBER: 01553793)
T/A DMS TECHNOLOGIES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
11,500 Ordinary £1 11,500 11,500

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Graham Taylor (Senior Statutory Auditor)
for and on behalf of Langdowns DFK Limited

13. OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £26,973 (2023: £40,737). This amount is in relation to operating lease commitments which are payable over the next 3 years (2023: 4 years).

14. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies where any subsidiary that is a party to the transaction is wholly owned within the group or where transactions have been undertaken under normal market conditions.