Silverfin false false 30/04/2024 01/05/2023 30/04/2024 G Clucas 15/11/2020 J Hooper 15/11/2020 J A Hooper 15/11/2020 M Iqbal 15/11/2020 B Prendergast 15/11/2020 27 January 2025 The principal activity of the company is to be that of a holding company. 13019673 2024-04-30 13019673 bus:Director1 2024-04-30 13019673 bus:Director2 2024-04-30 13019673 bus:Director3 2024-04-30 13019673 bus:Director4 2024-04-30 13019673 bus:Director5 2024-04-30 13019673 2023-04-30 13019673 core:CurrentFinancialInstruments 2024-04-30 13019673 core:CurrentFinancialInstruments 2023-04-30 13019673 core:Non-currentFinancialInstruments 2024-04-30 13019673 core:Non-currentFinancialInstruments 2023-04-30 13019673 core:ShareCapital 2024-04-30 13019673 core:ShareCapital 2023-04-30 13019673 core:RetainedEarningsAccumulatedLosses 2024-04-30 13019673 core:RetainedEarningsAccumulatedLosses 2023-04-30 13019673 core:CostValuation 2023-04-30 13019673 core:CostValuation 2024-04-30 13019673 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-04-30 13019673 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-04-30 13019673 2023-05-01 2024-04-30 13019673 bus:FilletedAccounts 2023-05-01 2024-04-30 13019673 bus:SmallEntities 2023-05-01 2024-04-30 13019673 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 13019673 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13019673 bus:Director1 2023-05-01 2024-04-30 13019673 bus:Director2 2023-05-01 2024-04-30 13019673 bus:Director3 2023-05-01 2024-04-30 13019673 bus:Director4 2023-05-01 2024-04-30 13019673 bus:Director5 2023-05-01 2024-04-30 13019673 2022-05-01 2023-04-30 13019673 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: 13019673 (England and Wales)

DMS CORPORATION LIMITED

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

DMS CORPORATION LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

DMS CORPORATION LIMITED

BALANCE SHEET

As at 30 April 2024
DMS CORPORATION LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 1,558,050 1,558,050
1,558,050 1,558,050
Current assets
Debtors 4 100 100
100 100
Creditors: amounts falling due within one year 5 ( 240,059) ( 317,336)
Net current liabilities (239,959) (317,236)
Total assets less current liabilities 1,318,091 1,240,814
Creditors: amounts falling due after more than one year 6 ( 22,754) ( 195,640)
Net assets 1,295,337 1,045,174
Capital and reserves
Called-up share capital 100 100
Profit and loss account 1,295,237 1,045,074
Total shareholders' funds 1,295,337 1,045,174

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 DMS Corporation Limited (registered number: 13019673) were approved and authorised for issue by the Board of Directors on 27 January 2025. They were signed on its behalf by:

B Prendergast
Director
DMS CORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
DMS CORPORATION 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

DMS Corporation 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.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 May 2023 1,558,050 1,558,050
At 30 April 2024 1,558,050 1,558,050
Carrying value at 30 April 2024 1,558,050 1,558,050
Carrying value at 30 April 2023 1,558,050 1,558,050

4. Debtors

2024 2023
£ £
Other debtors 100 100

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to own subsidiaries 62,132 31,126
Other creditors 177,927 286,210
240,059 317,336

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

2024 2023
£ £
Other creditors 22,754 195,640

There are no amounts included above in respect of which any security has been given by the small entity.

7. Related party transactions

Transactions with owners holding a participating interest in the entity

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.