Registration number:
DMD London Limited
for the Year Ended 31 July 2025
DMD London Limited
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
DMD London Limited
Company Information
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Directors |
Mr Darren McDermott Mr Jason McDermott Mr William McDermott Mr Iain Muir |
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Registered office |
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Auditors |
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DMD London Limited
(Registration number: 14101363)
Statement of Financial Position as at 31 July 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Provisions for liabilities |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,000 |
1,000 |
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Retained earnings |
1,106,243 |
1,010,080 |
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Shareholders' funds |
1,107,243 |
1,011,080 |
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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DMD London Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling (£) and rounded to the nearest £1.
DMD London Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
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Accounting policies (continued) |
Going concern
The Company is a member of a group of companies and is dependent upon the continued financial support of its parent company, DRVN Automotive Ltd, to meet its liabilities as they fall due.
The directors have reviewed the Company's forecasts and cash flow requirements for a period extending to at least 12 months from the date of approval of these financial statements. Based on this review, the directors have concluded that the Company will continue to require financial support from its parent company during this period.
The parent company has confirmed its intention to provide such financial support as may be necessary to enable the Company to meet its obligations as they fall due for a period of not less than 12 months from the date of approval of these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.
Accordingly, they continue to adopt the going concern basis in preparing these financial statements.
Audit report
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Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.
DMD London Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
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2 |
Accounting policies (continued) |
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred 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 income 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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are 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
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:
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Asset class |
Depreciation method and rate |
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Land & buildings |
10% reducing balance |
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Plant & machinery |
25% reducing balance |
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Office equipment |
15% reducing balance |
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Furniture & fittings |
15% reducing balance |
DMD London Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
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2 |
Accounting policies (continued) |
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Motor vehicles |
20% reducing balance |
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Licence plates |
Not applicable, expected to rise in value |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and on deposit.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Cost is calculated using the FIFO and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
DMD London Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
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2 |
Accounting policies (continued) |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
DMD London Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Licence plates |
Total |
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Cost or valuation |
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At 1 August 2024 |
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Additions |
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At 31 July 2025 |
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Depreciation |
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At 1 August 2024 |
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- |
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Charge for the year |
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- |
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At 31 July 2025 |
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- |
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Carrying amount |
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At 31 July 2025 |
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At 31 July 2024 |
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Included within the net book value of land and buildings above is £26,637 (2024 - £29,597) in respect of freehold land and buildings.
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Stocks |
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2025 |
2024 |
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Other inventories |
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DMD London Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
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Debtors |
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Current |
Note |
2025 |
2024 |
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Trade debtors |
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Amounts owed by related parties |
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Prepayments |
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- |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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- |
DMD London Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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1,000 |
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1,000 |
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Loans and borrowings |
Non-current loans and borrowings
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2025 |
2024 |
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Other borrowings |
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- |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the statement of financial position
The total amount of contingencies not included in the statement of financial position is £Nil (2024 - £434,000).
DMD London Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
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Related party transactions |
Summary of transactions with other related parties
Due to:
The Production Bunker Ltd: £305,135 (2024: £266,578)
Evoluto Automobili Ltd: £32,685 (2024: £10,000)
DRVN Toolroom Ltd: £141,100 (2024: £nil)
DRVN Composites Ltd: £31,200 (2024: £nil)
DRVN Remastered Ltd: £39,500 (2024: £nil)
The Recruitment Bunker Ltd: £37,500 (2024: £nil)
DRVN West Midlands Ltd: £30,000 (2024: £nil)
J E Engineering Ltd: £54,500 (2024: £nil)
Sloane Private Clients Ltd: £100 (2024: £nil)
DRVN Advanced Engineering Ltd: £1,993,639 (2024: £265,000)
Due by
Easy Heat Systems Ltd: £1,077,572 (2024: due to £1,415,073)
MDG Chameleon Ltd: £600,000 (2024: £nil)
Devine Energy Ltd: £9 (2024: £nil)
Boreham Motorworks Ltd: £63,500 (2024: £nil)
DRVN Automotive Ltd: £634.229 (2024: due to £23,620)
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Parent and ultimate parent undertaking |
The company's immediate parent is
These financial statements are available upon request from Companies House, Crown Way, CARDIFF. CF14 3UZ.