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Company Registration No. 10412901 (England and Wales)
DMD Contracts Limited Unaudited accounts for the year ended 30 October 2023
DMD Contracts Limited Unaudited accounts Contents
Page
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DMD Contracts Limited Company Information for the year ended 30 October 2023
Director
Daniel Reginald Davies
Company Number
10412901 (England and Wales)
Registered Office
35 Downs Road London E5 8QP England
Accountants
Xeinadin 8th Floor, Becket House 36 Old Jewry London EC2R 8DD
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DMD Contracts Limited Statement of financial position as at 30 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
43,630 
54,537 
Current assets
Inventories
28,709 
32,871 
Debtors
515,777 
398,391 
Cash at bank and in hand
190,701 
4,679 
735,187 
435,941 
Creditors: amounts falling due within one year
(472,204)
(236,139)
Net current assets
262,983 
199,802 
Total assets less current liabilities
306,613 
254,339 
Creditors: amounts falling due after more than one year
(16,635)
(26,167)
Net assets
289,978 
228,172 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
289,977 
228,171 
Shareholders' funds
289,978 
228,172 
For the year ending 30 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 November 2024 and were signed on its behalf by
Daniel Reginald Davies Director Company Registration No. 10412901
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DMD Contracts Limited Notes to the Accounts for the year ended 30 October 2023
1
Statutory information
DMD Contracts Limited is a private company, limited by shares, registered in England and Wales, registration number 10412901. The registered office is 35 Downs Road, London, E5 8QP, England.
2
Compliance with accounting standards
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies act 2006. These are the first financial statements prepared under FRS 102 Section 1A. The company transitioned to FRS 102 1A from previous UK GAAP on 1 January 2015 however incorrectly submitted financial statements under previous UK GAAP for the period ended 31 October 2017. The policies applied under the entity?s previous accounting framework are not materially different from FRS 102 and have not impacted on equity or profit and loss. As such no prior period adjustments are required for the period ended 31 October 2017.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing value
Motor vehicles
20% on reducing value
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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DMD Contracts Limited Notes to the Accounts for the year ended 30 October 2023
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 31 October 2022
22,105 
76,374 
98,479 
At 30 October 2023
22,105 
76,374 
98,479 
Depreciation
At 31 October 2022
8,982 
34,960 
43,942 
Charge for the year
2,624 
8,283 
10,907 
At 30 October 2023
11,606 
43,243 
54,849 
Net book value
At 30 October 2023
10,499 
33,131 
43,630 
At 30 October 2022
13,123 
41,414 
54,537 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
60,424 
87,998 
Trade debtors
186,609 
112,243 
Other debtors
70,594 
198,150 
317,627 
398,391 
Amounts falling due after more than one year
Other debtors
198,150 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,886 
19,552 
Trade creditors
180,839 
40,148 
Taxes and social security
242,399 
159,107 
Other creditors
19,042 
- 
Accruals
19,038 
17,332 
472,204 
236,139 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
16,635 
26,167 
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DMD Contracts Limited Notes to the Accounts for the year ended 30 October 2023
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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