Company registration number 03008482 (England and Wales)
DME COMPUTER SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
DME COMPUTER SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
DME COMPUTER SERVICES LIMITED (REGISTERED NUMBER: 03008482)
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,630
8,665
Current assets
Debtors
4
33,519
42,728
Cash at bank and in hand
30,174
15,221
63,693
57,949
Creditors: amounts falling due within one year
5
(54,225)
(39,157)
Net current assets
9,468
18,792
Total assets less current liabilities
17,098
27,457
Creditors: amounts falling due after more than one year
6
(15,044)
(25,181)
Provisions for liabilities
(1,800)
(1,983)
Net assets
254
293
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
54
93
Total equity
254
293
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
DME COMPUTER SERVICES LIMITED (REGISTERED NUMBER: 03008482)
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 13 November 2024 and are signed on its behalf by:
D Ebsworth
Director
DME COMPUTER SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
DME Computer Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 St Mary's Road, Wrotham, Sevenoaks, Kent, TN15 7AJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
DME COMPUTER SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
2
3
Tangible fixed assets
Computers
£
Cost
At 1 April 2023
16,014
Additions
1,364
At 31 March 2024
17,378
Depreciation and impairment
At 1 April 2023
7,349
Depreciation charged in the year
2,399
At 31 March 2024
9,748
Carrying amount
At 31 March 2024
7,630
At 31 March 2023
8,665
DME COMPUTER SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
14,850
5,700
Other debtors
18,669
37,028
33,519
42,728
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
9,896
9,654
Trade creditors
582
Taxation and social security
43,547
27,982
Other creditors
200
1,521
54,225
39,157
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
15,044
25,181
7
Financial commitments, guarantees and contingent liabilities
During the previous year, the company borrowed £50,000 from its bankers for a Bounce Back Loan. As part of this scheme, the UK government has guaranteed the advance and has paid the interest and fees due for the first 12 months. As a balance sheet date, the balance outstanding to the companies bankers was £24,939.
8
Directors' transactions
Included in other debtors is a director’s loan account balance of £2,466 (2023: £21,039). Interest totalling £117 (2023: £294) has been charged in the year.
The directors loan has been repaid shortly after the year end.