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Registration number: 05142017

DMS Electrical Contractors Limited

Annual Report and Unaudited Financial Statements

For The Year Ended 31 December 2024

 

DMS Electrical Contractors Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

DMS Electrical Contractors Limited

(Registration number: 05142017)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

11,413

 

4,566

Current assets

   

 

Debtors

5

62,097

 

51,902

 

Cash at bank and in hand

 

68,664

 

35,466

 

 

130,761

 

87,368

 

Creditors: Amounts falling due within one year

6

(43,573)

 

(36,401)

 

Net current assets

   

87,188

 

50,967

Total assets less current liabilities

   

98,601

 

55,533

Provisions for liabilities

 

(2,717)

 

(847)

Net assets

   

95,884

 

54,686

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

95,784

 

54,586

 

Total equity

   

95,884

 

54,686

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 11 March 2025
 

.........................................
Mr M. Heaton
Director

 

DMS Electrical Contractors Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
12 Sherburn Road
Leeds
West Yorkshire
LS14 5DN
United Kingdom

These financial statements were authorised for issue by the director on 11 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 .

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are presented in Sterling (£).

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

DMS Electrical Contractors Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% Reducing Balance

Motor vehicles

25% Reducing Balance

Computer equipment

25% Straight Line

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2023 - 7).

 

DMS Electrical Contractors Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

2,370

35,195

1,000

38,565

Additions

-

11,500

-

11,500

Disposals

-

(6,595)

-

(6,595)

At 31 December 2024

2,370

40,100

1,000

43,470

Depreciation

At 1 January 2024

2,370

30,729

900

33,999

Charge for the year

-

3,773

-

3,773

Eliminated on disposal

-

(5,715)

-

(5,715)

At 31 December 2024

2,370

28,787

900

32,057

Carrying amount

At 31 December 2024

-

11,313

100

11,413

At 31 December 2023

-

4,466

100

4,566

5

Debtors

Debtors: amounts falling due within one year

2024
£

2023
£

Trade debtors

55,951

47,795

Prepayments

6,146

4,107

 

62,097

51,902

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

5,608

8,002

Taxation and social security

29,631

22,768

Other creditors

8,334

5,631

43,573

36,401

 

DMS Electrical Contractors Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £47,108 (2023 - £Nil). Financial commitments comprise £47,108 relating to operating lease commitments expiring in December 2029.