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Registered number: 11570429










DMA MONEYBETTER LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
DMA MONEYBETTER LTD
REGISTERED NUMBER: 11570429

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,461
-

  
1,461
-

Current assets
  

Debtors: amounts falling due within one year
 5 
15,641
-

Cash at bank and in hand
  
42,797
26,387

  
58,438
26,387

Creditors: amounts falling due within one year
 6 
(85,736)
(29,215)

Net current liabilities
  
 
 
(27,298)
 
 
(2,828)

Total assets less current liabilities
  
(25,837)
(2,828)

  

Net liabilities
  
(25,837)
(2,828)


Capital and reserves
  

Called up share capital 
 8 
4,000
4,000

Profit and loss account
  
(29,837)
(6,828)

  
(25,837)
(2,828)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R J Willers
Director

Date: 5 March 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
DMA MONEYBETTER LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

DMA Moneybetter Ltd is a private company, limited by share capital and incorporated in England and Wales. The registered office of the Company is Unit 2.04 53 Duke Street, London, England, W1K 5NR.
The principal activity of the business is FInancial intermediation.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date the Company had net liabilities of £25,837 (2023: £2,828) and made a loss for the year of £23,009 (2023: £7,593). The Directors have considered the appropriateness of the going concern basis of preparation of the financial statements taking into account:
 
- The Company's financial performance and current financial position
- Future trading prospects
- The continued support provided by the parent company SCM DMA (Pty) Ltd
 
The Directors have concluded that, whilst mindful of inherent uncertainties, they are confident that the Company has sufficient financial resources and support from the parent company to continue operating as a going concern for the foreseeable future and, accordingly, have concluded that it remains appropriate to prepare the financial statements on a going concern basis. In reaching this conclusion, the Directors have considered a period of not less than 12 months from the date of approving these financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
DMA MONEYBETTER LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Furniture and equipment
-
20%
on cost
Computer equipment
-
33%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 3

 
DMA MONEYBETTER LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
2,192



At 30 June 2024

2,192



Depreciation


Charge for the year
731



At 30 June 2024

731



Net book value



At 30 June 2024
1,461



At 30 June 2023
-


5.


Debtors

2024
2023
£
£


Other debtors
8,124
-

Prepayments and accrued income
7,517
-

15,641
-



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
10,995

Other loans
-
15,220

Trade creditors
15,480
-

Amounts owed to group undertakings
58,008
-

Other taxation and social security
2,148
-

Other creditors
500
-

Accruals and deferred income
9,600
3,000

85,736
29,215


Page 4

 
DMA MONEYBETTER LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
10,995

Other loans
-
15,220


-
26,215





In the prior year, "bank loans" and "other loans" were classified as "due after more than one year." However, these loans were actually repaid within one year. As a result, the loans have been reclassified in the current year's balance sheet as "due within one year." This reclassification reflects the accurate repayment terms and ensures that the financial statements present a true and fair view of the company’s financial position. This change has been applied to the comparative figures for the prior year.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



4,000 (2023 - 4,000) Ordinary shares of £1.00 each
4,000
4,000



9.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
24,000
24,066

24,000
24,066


10.


Related party transactions

As a wholly owned subsidiary, the Company is exempt from disclosing transactions with 100% owned
members of the group headed by SCM DMA (Pty) Ltd in accordance with FRS102 paragraph 33.1A.


11.


Post balance sheet events

On 15 August 2024 150,000 ordinary shares were issued at a nominal value of £1 per share, total consideration of £150,000 was received. 

Page 5

 
DMA MONEYBETTER LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


Controlling party

The immediate parent undertaking of the Company is Direct Market Access UK Ltd. The ultimate parent undertaking and controlling party is SCM DMA (Pty) Ltd, a company registered in South Africa.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 10 March 2025 by Alan Poole BA (Hons) FCA (Senior statutory auditor) on behalf of James Cowper Kreston.

Page 6