Silverfin false false 31/10/2024 01/11/2023 31/10/2024 D G Allen 14/09/2018 M A Allen 08/09/2005 M R Warren 08/09/2005 N J Warren 08/09/2005 T Warren 08/09/2005 10 June 2025 The principal activity of the Company during the financial year was Financial leasing. 05557257 2024-10-31 05557257 bus:Director1 2024-10-31 05557257 bus:Director2 2024-10-31 05557257 bus:Director3 2024-10-31 05557257 bus:Director4 2024-10-31 05557257 bus:Director5 2024-10-31 05557257 2023-10-31 05557257 core:CurrentFinancialInstruments 2024-10-31 05557257 core:CurrentFinancialInstruments 2023-10-31 05557257 core:ShareCapital 2024-10-31 05557257 core:ShareCapital 2023-10-31 05557257 core:RetainedEarningsAccumulatedLosses 2024-10-31 05557257 core:RetainedEarningsAccumulatedLosses 2023-10-31 05557257 core:OtherPropertyPlantEquipment 2023-10-31 05557257 core:OtherPropertyPlantEquipment 2024-10-31 05557257 2023-11-01 2024-10-31 05557257 bus:FilletedAccounts 2023-11-01 2024-10-31 05557257 bus:SmallEntities 2023-11-01 2024-10-31 05557257 bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 05557257 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 05557257 bus:Director1 2023-11-01 2024-10-31 05557257 bus:Director2 2023-11-01 2024-10-31 05557257 bus:Director3 2023-11-01 2024-10-31 05557257 bus:Director4 2023-11-01 2024-10-31 05557257 bus:Director5 2023-11-01 2024-10-31 05557257 core:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 05557257 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Company No: 05557257 (England and Wales)

D & M FINANCE LIMITED

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

D & M FINANCE LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

D & M FINANCE LIMITED

BALANCE SHEET

As at 31 October 2024
D & M FINANCE LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 531 793
531 793
Current assets
Debtors 4 264,980 326,931
Cash at bank and in hand 74,211 3,985
339,191 330,916
Creditors: amounts falling due within one year 5 ( 4,011) ( 3,190)
Net current assets 335,180 327,726
Total assets less current liabilities 335,711 328,519
Net assets 335,711 328,519
Capital and reserves
Called-up share capital 100 100
Profit and loss account 335,611 328,419
Total shareholders' funds 335,711 328,519

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

Directors' responsibilities:

The financial statements of D & M Finance Limited (registered number: 05557257) were approved and authorised for issue by the Board of Directors on 10 June 2025. They were signed on its behalf by:

M A Allen
Director
D & M FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
D & M FINANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 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

D & M Finance 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 Church Farm Barn Brick Kiln Lane, Horsmonden, Tonbridge, TN12 8EJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Taxation

Current tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, 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.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. 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.

Tangible fixed assets

Tangible assets is stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Plant and machinery etc. 33 % 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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2023 2,638 2,638
At 31 October 2024 2,638 2,638
Accumulated depreciation
At 01 November 2023 1,845 1,845
Charge for the financial year 262 262
At 31 October 2024 2,107 2,107
Net book value
At 31 October 2024 531 531
At 31 October 2023 793 793

4. Debtors

2024 2023
£ £
Other debtors 264,980 326,931

5. Creditors: amounts falling due within one year

2024 2023
£ £
Corporation tax 1,749 337
Other creditors 2,262 2,853
4,011 3,190

6. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 553 153

During the year the company received repayments of £31.349 (2023: £54,963) and made advances of £30,949 (2023: £58,017).