DM Flooring Ltd


Directors	Phillip Mitchell
	Darren Shaun Dawes


Registered Address	St Denys House
	22 East Hill
	St Austell
	PL25 4TR


Registered Number	09288015 (England and Wales)

Balance Sheet as at
31 October 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		2,505		2,947
			2,505		2,947
Current assets
Stocks	4	6,000		6,250
Debtors		1,013		1,806
Cash at bank and on hand		72,317		162,618
		79,330		170,674
Creditors amounts falling due within one year	5	(32,028)		(51,041)
Net current assets (liabilities)			47,302		119,633
Total assets less current liabilities			49,807		122,580
Creditors amounts falling due after one year	6		(3,361)		(8,065)
Net assets			46,446		114,515
Capital and reserves
Called up share capital			2		2
Profit and loss account			46,444		114,513
Shareholders' funds			46,446		114,515

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 18 March 2025, and are signed on its behalf by:

Darren Shaun Dawes
Director

Phillip Mitchell
Director

Registered Company No. 09288015

DM Flooring Ltd

Notes to the Financial Statements
for the year ended 31 October 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Plant and machinery	15
	Fixtures and fittings	15
	Office Equipment	15

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 November 23	6,604	1,178	1,208	8,990
At 31 October 24	6,604	1,178	1,208	8,990
Depreciation and impairment
At 01 November 23	4,852	648	543	6,043
Charge for year	263	79	100	442
At 31 October 24	5,115	727	643	6,485
Net book value
At 31 October 24	1,489	451	565	2,505
At 31 October 23	1,752	530	665	2,947

4.	Stocks

	2024	2023
	£	£
Other stocks	6,000	6,250
Total	6,000	6,250

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	2,154	3,317
Bank borrowings and overdrafts	5,324	5,324
Taxation and social security	11,277	37,825
Other creditors	12,123	3,556
Accrued liabilities and deferred income	1,150	1,019
Total	32,028	51,041

6.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	3,361	8,065
Total	3,361	8,065

7.	Directors advances, credits and guarantees
	At the end of the year, there was a balance due to the directors from the company of £12,123 (2023:£3,556)