Silverfin false false 30/04/2024 01/05/2023 30/04/2024 G R Clucas 30/11/2020 J A Hooper 30/11/2020 M Iqbal 30/11/2020 B M Prendergast 30/11/2020 27 January 2025 The principal activity of the company continued to be that of information technology consultancy activities. 05412088 2024-04-30 05412088 bus:Director1 2024-04-30 05412088 bus:Director2 2024-04-30 05412088 bus:Director3 2024-04-30 05412088 bus:Director4 2024-04-30 05412088 2023-04-30 05412088 core:CurrentFinancialInstruments 2024-04-30 05412088 core:CurrentFinancialInstruments 2023-04-30 05412088 core:Non-currentFinancialInstruments 2024-04-30 05412088 core:Non-currentFinancialInstruments 2023-04-30 05412088 core:ShareCapital 2024-04-30 05412088 core:ShareCapital 2023-04-30 05412088 core:RetainedEarningsAccumulatedLosses 2024-04-30 05412088 core:RetainedEarningsAccumulatedLosses 2023-04-30 05412088 core:ComputerSoftware 2023-04-30 05412088 core:ComputerSoftware 2024-04-30 05412088 core:PlantMachinery 2023-04-30 05412088 core:Vehicles 2023-04-30 05412088 core:FurnitureFittings 2023-04-30 05412088 core:OfficeEquipment 2023-04-30 05412088 core:PlantMachinery 2024-04-30 05412088 core:Vehicles 2024-04-30 05412088 core:FurnitureFittings 2024-04-30 05412088 core:OfficeEquipment 2024-04-30 05412088 bus:OrdinaryShareClass1 2024-04-30 05412088 bus:OrdinaryShareClass2 2024-04-30 05412088 2023-05-01 2024-04-30 05412088 bus:FilletedAccounts 2023-05-01 2024-04-30 05412088 bus:SmallEntities 2023-05-01 2024-04-30 05412088 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 05412088 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05412088 bus:Director1 2023-05-01 2024-04-30 05412088 bus:Director2 2023-05-01 2024-04-30 05412088 bus:Director3 2023-05-01 2024-04-30 05412088 bus:Director4 2023-05-01 2024-04-30 05412088 core:ComputerSoftware 2023-05-01 2024-04-30 05412088 core:PlantMachinery core:TopRangeValue 2023-05-01 2024-04-30 05412088 core:Vehicles 2023-05-01 2024-04-30 05412088 core:FurnitureFittings core:TopRangeValue 2023-05-01 2024-04-30 05412088 core:OfficeEquipment 2023-05-01 2024-04-30 05412088 2022-05-01 2023-04-30 05412088 core:PlantMachinery 2023-05-01 2024-04-30 05412088 core:FurnitureFittings 2023-05-01 2024-04-30 05412088 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 05412088 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 05412088 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 05412088 bus:OrdinaryShareClass2 2023-05-01 2024-04-30 05412088 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05412088 (England and Wales)

DESIGN AND MANAGEMENT SYSTEMS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

DESIGN AND MANAGEMENT SYSTEMS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

DESIGN AND MANAGEMENT SYSTEMS LIMITED

BALANCE SHEET

As at 30 April 2024
DESIGN AND MANAGEMENT SYSTEMS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 75,729 135,150
75,729 135,150
Current assets
Stocks 58,500 57,756
Debtors 5 408,023 501,094
Cash at bank and in hand 199,417 316,628
665,940 875,478
Creditors: amounts falling due within one year 6 ( 299,871) ( 409,228)
Net current assets 366,069 466,250
Total assets less current liabilities 441,798 601,400
Creditors: amounts falling due after more than one year 7 ( 22,548) ( 41,183)
Provision for liabilities ( 7,308) 0
Net assets 411,942 560,217
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 411,842 560,117
Total shareholder's funds 411,942 560,217

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Design and Management Systems Limited (registered number: 05412088) were approved and authorised for issue by the Board of Directors on 27 January 2025. They were signed on its behalf by:

B M Prendergast
Director
DESIGN AND MANAGEMENT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
DESIGN AND MANAGEMENT SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Design and Management Systems Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2a-4 Avery Hill Road, London, SE9 2BD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 18 % reducing balance
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 4 years straight line
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the debtors are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 19 18

3. Intangible assets

Computer software Total
£ £
Cost
At 01 May 2023 50,000 50,000
At 30 April 2024 50,000 50,000
Accumulated amortisation
At 01 May 2023 50,000 50,000
At 30 April 2024 50,000 50,000
Net book value
At 30 April 2024 0 0
At 30 April 2023 0 0

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 May 2023 21,601 231,793 1,896 19,635 274,925
Additions 0 6,995 0 1,153 8,148
Disposals 0 ( 118,434) 0 0 ( 118,434)
At 30 April 2024 21,601 120,354 1,896 20,788 164,639
Accumulated depreciation
At 01 May 2023 20,540 100,822 1,103 17,310 139,775
Charge for the financial year 757 17,766 198 1,250 19,971
Disposals 0 ( 70,836) 0 0 ( 70,836)
At 30 April 2024 21,297 47,752 1,301 18,560 88,910
Net book value
At 30 April 2024 304 72,602 595 2,228 75,729
At 30 April 2023 1,061 130,971 793 2,325 135,150

5. Debtors

2024 2023
£ £
Trade debtors 324,266 424,926
Amounts owed by Group undertakings 62,132 31,126
Other debtors 21,625 45,042
408,023 501,094

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 153,028 223,163
Taxation and social security 62,647 79,123
Obligations under finance leases and hire purchase contracts 18,855 21,402
Other creditors 65,341 85,540
299,871 409,228

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 22,548 41,183

Obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
90 Ordinary shares of £ 1.00 each 90 90
10 Ordinary A shares of £ 1.00 each 10 10
100 100

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed by/(to) directors 2,479 (5,000)

During the year the company made advances totalling £2,479 (2023 - Nil).

The amounts owed by the directors to the company are unsecured, interest free and repayable on demand.

The company has taken advantage of the exemption in FRS 102 1A C.35 "Related Party Disclosures" from disclosing transactions with other members of the group.