Company Registration No. 12150130 (England and Wales)
DM ENERGY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
DM ENERGY LIMITED
COMPANY INFORMATION
Directors
W7S Directors Limited
(Appointed 18 October 2024)
Mr G Waller
(Appointed 18 October 2024)
Mr R Thompson
(Appointed 18 October 2024)
Mr W Rumble
(Appointed 18 October 2024)
Company number
12150130
Registered office
4th Floor
24 Old Bond Street
Mayfair
London
W1S 4AW
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
DM ENERGY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
DM ENERGY LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,153
5,234
Current assets
Stocks
5,000
5,000
Debtors
4
96,033
96,750
Cash at bank and in hand
24,435
41,226
125,468
142,976
Creditors: amounts falling due within one year
5
(115,354)
(197,569)
Net current assets/(liabilities)
10,114
(54,593)
Total assets less current liabilities
12,267
(49,359)
Creditors: amounts falling due after more than one year
6
(26,251)
(32,387)
Provisions for liabilities
(298)
Net liabilities
(14,282)
(81,746)
Capital and reserves
Called up share capital
150
150
Share premium account
29,950
29,950
Profit and loss reserves
(44,382)
(111,846)
Total equity
(14,282)
(81,746)
The notes on pages 3 to 6 form part of these financial statements.
DM ENERGY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 12 May 2025 and are signed on its behalf by:
Mr G Waller
Director
Company registration number 12150130 (England and Wales)
DM ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
DM Energy Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 24 Old Bond Street, Mayfair, London, W1S 4AW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
During the year the company met its day to day working capital requirements by way of bank loans and overdrafts and the financial support of its directors. The directors have agreed to continue to support the company by way of loans to the company and are of the opinion that the company will continue to operate within the bank facility currently agreed.true
On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this support.
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from contracts for the provision of services is recognised by reference to work done in the period.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
33% on straight line
Motor vehicles
25% on straight line
1.5
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.6
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it related to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
DM ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged profit or loss in the period to which they relate.
1.8
Leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
14
17
DM ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 October 2023
16,192
5,621
21,813
Additions
5,348
5,348
Disposals
(5,621)
(5,621)
At 30 September 2024
21,540
21,540
Depreciation and impairment
At 1 October 2023
12,206
4,373
16,579
Depreciation charged in the year
7,181
468
7,649
Eliminated in respect of disposals
(4,841)
(4,841)
At 30 September 2024
19,387
19,387
Carrying amount
At 30 September 2024
2,153
2,153
At 30 September 2023
3,986
1,248
5,234
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
83,014
77,362
Other debtors
13,019
19,388
96,033
96,750
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
8,058
8,215
Trade creditors
71,812
82,697
Taxation and social security
13,035
27,178
Other creditors
22,449
79,479
115,354
197,569
DM ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
26,251
32,387