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REGISTERED NUMBER: 02903233 (England and Wales)


































Unaudited Financial Statements

for the Year Ended 31 March 2024

for

DSM N.E. LTD

DSM N.E. LTD (REGISTERED NUMBER: 02903233)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DSM N.E. LTD

Company Information
for the year ended 31 March 2024







DIRECTOR: A Wilson





SECRETARY: Mrs L A Newton





REGISTERED OFFICE: 11 Hurworth Road
Aycliffe Industrial Park
Newton Aycliffe
Co. Durham
DL5 6UD





REGISTERED NUMBER: 02903233 (England and Wales)





ACCOUNTANTS: Mitchells Grievson
Chartered Accountants
Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX

DSM N.E. LTD (REGISTERED NUMBER: 02903233)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 179,698 225,259

CURRENT ASSETS
Stocks 7,662 16,500
Debtors 5 1,094,193 1,087,976
Cash at bank and in hand 14,576 30,821
1,116,431 1,135,297
CREDITORS
Amounts falling due within one year 6 458,649 451,641
NET CURRENT ASSETS 657,782 683,656
TOTAL ASSETS LESS CURRENT
LIABILITIES

837,480

908,915

CREDITORS
Amounts falling due after more than one
year

7

(98,861

)

(168,385

)

PROVISIONS FOR LIABILITIES (43,869 ) (55,026 )
NET ASSETS 694,750 685,504

CAPITAL AND RESERVES
Called up share capital 11,000 11,000
Retained earnings 683,750 674,504
694,750 685,504

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

DSM N.E. LTD (REGISTERED NUMBER: 02903233)

Balance Sheet - continued
31 March 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 18 November 2024 and were signed by:





A Wilson - Director


DSM N.E. LTD (REGISTERED NUMBER: 02903233)

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

1. STATUTORY INFORMATION

DSM N.E. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

DSM N.E. LTD (REGISTERED NUMBER: 02903233)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 17 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 1,149,781 39,040 55,398 1,244,219
DEPRECIATION
At 1 April 2023 943,599 30,091 45,270 1,018,960
Charge for year 41,238 1,789 2,534 45,561
At 31 March 2024 984,837 31,880 47,804 1,064,521
NET BOOK VALUE
At 31 March 2024 164,944 7,160 7,594 179,698
At 31 March 2023 206,182 8,949 10,128 225,259

DSM N.E. LTD (REGISTERED NUMBER: 02903233)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 144,550
DEPRECIATION
At 1 April 2023 52,064
Charge for year 18,497
At 31 March 2024 70,561
NET BOOK VALUE
At 31 March 2024 73,989
At 31 March 2023 92,486

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 204,676 262,915
Amounts owed by group undertakings 889,302 823,291
Other debtors 215 1,770
1,094,193 1,087,976

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 119,250 133,325
Hire purchase contracts 105,346 94,518
Trade creditors 69,272 95,986
Taxation and social security 118,434 79,785
Other creditors 46,347 48,027
458,649 451,641

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 57,489 21,667
Hire purchase contracts 41,372 146,718
98,861 168,385

DSM N.E. LTD (REGISTERED NUMBER: 02903233)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 146,718 241,236
Skipton Business Finance 119,250 123,325
265,968 364,561

Hire purchase liabilities are secured against the assets to which they relate.

Skipton Business Finance is secured against all fixed assets held by the company.