Silverfin false false 31/07/2024 01/08/2023 31/07/2024 Mrs M M Iszatt Mr D M J Iszatt 17 April 2025 The principal activity of the Company during the financial year was that of acquiring, renovating and managing investment properties. 03144173 2024-07-31 03144173 2023-07-31 03144173 core:CurrentFinancialInstruments 2024-07-31 03144173 core:CurrentFinancialInstruments 2023-07-31 03144173 core:Non-currentFinancialInstruments 2024-07-31 03144173 core:Non-currentFinancialInstruments 2023-07-31 03144173 core:ShareCapital 2024-07-31 03144173 core:ShareCapital 2023-07-31 03144173 core:FurtherSpecificReserve1ComponentTotalEquity 2024-07-31 03144173 core:FurtherSpecificReserve1ComponentTotalEquity 2023-07-31 03144173 core:RetainedEarningsAccumulatedLosses 2024-07-31 03144173 core:RetainedEarningsAccumulatedLosses 2023-07-31 03144173 2023-08-01 2024-07-31 03144173 bus:FilletedAccounts 2023-08-01 2024-07-31 03144173 bus:SmallEntities 2023-08-01 2024-07-31 03144173 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 03144173 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03144173 bus:Director1 2023-08-01 2024-07-31 03144173 bus:Director2 2023-08-01 2024-07-31 03144173 core:PlantMachinery 2023-08-01 2024-07-31 03144173 core:FurnitureFittings 2023-08-01 2024-07-31 03144173 2022-08-01 2023-07-31 03144173 core:Non-currentFinancialInstruments 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Company No: 03144173 (England and Wales)

DIRECT MARKETING SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

DIRECT MARKETING SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

DIRECT MARKETING SOLUTIONS LIMITED

BALANCE SHEET

As at 31 July 2024
DIRECT MARKETING SOLUTIONS LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 197 263
Investment property 3 420,000 420,000
420,197 420,263
Current assets
Cash at bank and in hand 526 61
526 61
Creditors: amounts falling due within one year 4 ( 95,588) ( 58,431)
Net current liabilities (95,062) (58,370)
Total assets less current liabilities 325,135 361,893
Creditors: amounts falling due after more than one year 5 ( 846) ( 52,953)
Provision for liabilities ( 37,982) ( 37,982)
Net assets 286,307 270,958
Capital and reserves
Called-up share capital 1,001 1,001
Fair value reserve 153,396 153,396
Profit and loss account 131,910 116,561
Total shareholders' funds 286,307 270,958

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Direct Marketing Solutions Limited (registered number: 03144173) were approved and authorised for issue by the Board of Directors on 17 April 2025. They were signed on its behalf by:

Mr D M J Iszatt
Director
DIRECT MARKETING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
DIRECT MARKETING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Direct Marketing Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents income from the letting of investment properties.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

The company is run and administered by the directors of the company for whom no formal contracts of service are in place.

3. Investment property

Investment property
£
Valuation
As at 01 August 2023 420,000
As at 31 July 2024 420,000

The investment properties class of fixed assets have been valued by the director who is internal to the company. The basis of this valuation was open market value.

The class of asset has a current value of £420,000 (2023 - £420,000) and a carrying amount at historical cost of £237,737 (2023 - £237,737). The depreciation on this historical cost is £nil (2023 - £nil).

There has been no valuation of investment property by an independent valuer.

4. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 2,882
Taxation and social security 3,616 3,201
Other creditors 91,972 52,348
95,588 58,431

5. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 50,820
Other creditors 846 2,133
846 52,953

There are no amounts included above in respect of which any security has been given by the small entity.

6. Related party transactions

During the year the directors maintained an interest-free loan with the company which was repayable on demand.
At the balance sheet date the company owed the directors £337 (2023 - £35,815).