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D M Specialist Ltd

Financial Statements for the Year Ended 31 July 2024






D M Specialist Ltd (Registered number: 03409222)






Contents of the Financial Statements
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D M Specialist Ltd

Company Information
for the year ended 31 July 2024







DIRECTOR: Mr D Middleton





SECRETARY: Mrs L M Middleton





REGISTERED OFFICE: 2 Pegasus Mews
Straton Business Park
Biggleswade
Bedfordshire
SG18 8QA





REGISTERED NUMBER: 03409222 (England and Wales)





ACCOUNTANTS: Hargreaves Owen Ltd
Chartered Certified Accountants
Red Sky House
Fairclough Hall, Halls Green
Weston
Hertfordshire
SG4 7DP

D M Specialist Ltd (Registered number: 03409222)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 150,366 197,467
Investments 5 100 100
150,466 197,567

CURRENT ASSETS
Stocks 15,000 8,020
Debtors 6 740,953 678,159
755,953 686,179
CREDITORS
Amounts falling due within one year 7 532,413 493,311
NET CURRENT ASSETS 223,540 192,868
TOTAL ASSETS LESS CURRENT
LIABILITIES

374,006

390,435

CREDITORS
Amounts falling due after more than one
year

8

52,438

113,065
NET ASSETS 321,568 277,370

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 321,566 277,368
SHAREHOLDERS' FUNDS 321,568 277,370

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

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

The director acknowledges his 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 Specialist Ltd (Registered number: 03409222)

Balance Sheet - continued
31 July 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 director and authorised for issue on 26 November 2024 and were signed by:





Mr D Middleton - Director


D M Specialist Ltd (Registered number: 03409222)

Notes to the Financial Statements
for the year ended 31 July 2024

1. STATUTORY INFORMATION

D M Specialist Ltd 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.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 25 (2023 - 25 ) .

D M Specialist Ltd (Registered number: 03409222)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 August 2023 41,219 74,941 10,740
Additions - 4,058 2,833
Disposals - - -
At 31 July 2024 41,219 78,999 13,573
DEPRECIATION
At 1 August 2023 4,121 31,878 7,024
Charge for year 4,122 11,780 1,637
Eliminated on disposal - - -
At 31 July 2024 8,243 43,658 8,661
NET BOOK VALUE
At 31 July 2024 32,976 35,341 4,912
At 31 July 2023 37,098 43,063 3,716

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2023 185,654 6,959 319,513
Additions 18,019 - 24,910
Disposals (61,956 ) - (61,956 )
At 31 July 2024 141,717 6,959 282,467
DEPRECIATION
At 1 August 2023 75,643 3,380 122,046
Charge for year 25,146 1,879 44,564
Eliminated on disposal (34,509 ) - (34,509 )
At 31 July 2024 66,280 5,259 132,101
NET BOOK VALUE
At 31 July 2024 75,437 1,700 150,366
At 31 July 2023 110,011 3,579 197,467

D M Specialist Ltd (Registered number: 03409222)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2023
and 31 July 2024 100
NET BOOK VALUE
At 31 July 2024 100
At 31 July 2023 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 213,901 161,869
Amounts recoverable on contract 37,800 36,110
Other debtors 461,729 445,807
Prepayments 27,523 34,373
740,953 678,159

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 135,770 138,255
Hire purchase contracts 31,643 42,459
Trade creditors 216,727 229,619
Corporation tax 35,737 (68 )
Sundry Creditors and Accruals 18,500 1,500
Taxation & Social Security 89,859 74,389
Credit card 3,959 6,934
Directors' current accounts 218 223
532,413 493,311

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 52,438 113,065

9. LOANS

Natwest Bank have a fixed and floating charge over the assets of the business