DMS Engineering Maintenance Ltd
Registered number: 08320305
Statement of Financial Position
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 55,132 58,685
Current assets
Stocks 29,000 29,000
Debtors 4 270,284 385,563
Cash at bank and in hand 31,858 1,397
331,142 415,960
Creditors: amounts falling due within one year 5 (142,662) (204,699)
Net current assets 188,480 211,261
Total assets less current liabilities 243,612 269,946
Creditors: amounts falling due after more than one year 6 - (37,750)
Provisions for liabilities (13,050) (11,150)
Net assets 230,562 221,046
Capital and reserves
Called up share capital 100 100
Profit and loss account 230,462 220,946
Shareholders' funds 230,562 221,046
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B P Ambroziak
Director
Approved by the board on 26 March 2025
DMS Engineering Maintenance Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 137,770
Additions 17,733
Disposals (11,504)
At 31 December 2024 143,999
Depreciation
At 1 January 2024 79,090
Charge for the year 18,376
On disposals (8,599)
At 31 December 2024 88,867
Net book value
At 31 December 2024 55,132
At 31 December 2023 58,680
4 Debtors 2024 2023
£ £
Trade debtors 254,670 348,564
Accrued income 15,614 36,999
270,284 385,563
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 37,750 47,392
Trade creditors 15,696 29,991
Accruals 1,290 1,235
Corporation tax 15,618 13,957
Other taxes and social security costs 61,602 97,861
Other creditors 10,706 14,263
142,662 204,699
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 37,750
7 Other information
DMS Engineering Maintenance Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 15J Wintersells Road
Byfleet
West Byfleet
KT14 7LF
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