REGISTERED NUMBER: |
DMM London Ltd |
Unaudited Financial Statements |
for the Year Ended 31 October 2024 |
REGISTERED NUMBER: |
DMM London Ltd |
Unaudited Financial Statements |
for the Year Ended 31 October 2024 |
DMM London Ltd (Registered number: 07048653) |
Contents of the Financial Statements |
for the Year Ended 31 October 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
DMM London Ltd |
Company Information |
for the Year Ended 31 October 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
8a Wingbury Courtyard |
Business Village |
Wingrave |
Buckinghamshire |
HP22 4LW |
DMM London Ltd (Registered number: 07048653) |
Balance Sheet |
31 October 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The directors acknowledge their 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. |
DMM London Ltd (Registered number: 07048653) |
Balance Sheet - continued |
31 October 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
DMM London Ltd (Registered number: 07048653) |
Notes to the Financial Statements |
for the Year Ended 31 October 2024 |
1. | STATUTORY INFORMATION |
DMM London Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement. |
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 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 and that are expected to apply to the reversal of the timing difference. |
Current or deferred taxation liabilities are not discounted. |
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. |
Going concern |
The accounts have been prepared on a going concern basis and the directors are satisfied that it is appropriate to do so. For further information see notes 8 and 10 to the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
DMM London Ltd (Registered number: 07048653) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 November 2023 |
Additions |
At 31 October 2024 |
DEPRECIATION |
At 1 November 2023 |
Charge for year |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
Included in creditors due inside one year is a short term working capital loan of £150,000 which has been repaid in full following the year end in accordance with the terms of that loan. |
Included in trade creditors due inside one year is an amount of £120,777 owed to a company with common stakeholders. Arrangements have been made to spread payment of these invoices over a period that will not be detrimental to the cash flow of DMM London Ltd. |
DMM London Ltd (Registered number: 07048653) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
8. | GOING CONCERN |
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
Following a difficult period of trade during the Pandemic, the company has returned to profitability and the directors expect that trend to continue. A short term working capital loan of £150,000 was taken to assist in funding a significant new project for the company and this has been repaid in full, in accordance with the agreed terms, following the year end. |
DMM London Ltd has benefited from extended credit terms arranged with its one major trade creditor, a company with common stakeholders. This directors of this company have confirmed their intention to continue to provide financial support whilst it is needed. The management accounts and forecasts would indicate that support will not be needed beyond the end of this financial year. |