DMS Rentals Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09019878 (England and Wales)

Financial Statements for the Year Ended 31 May 2020

for

DMS Rentals Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M Higginson

Mr D McMurray

Mr R Gorton

SECRETARY:

REGISTERED OFFICE:

Unit 6

Duttons Way

Shadsworth Business Park

Blackburn

Lancashire

BB1 2QR

REGISTERED NUMBER:

09019878 (England and Wales)

ACCOUNTANTS:

Stephen Round Limited

Chartered Certified Accountants

366 Holcombe Road

Greenmount

Bury

Lancashire

BL8 4DT

FIXED ASSETS

Tangible assets

4

385,106

451,636

CURRENT ASSETS

Debtors

5

50,211

78,808

Cash at bank

110,400

12,197

160,611

91,005

CREDITORS

Amounts falling due within one year

6

207,947

172,501

NET CURRENT LIABILITIES

(47,336

)

(81,496

)

TOTAL ASSETS LESS CURRENT LIABILITIES

337,770

370,140

CREDITORS

Amounts falling due after more than one year

7

201,377

284,464

NET ASSETS

136,393

85,676

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

136,390

85,673

SHAREHOLDERS' FUNDS

136,393

85,676

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2020 and were signed on its behalf by:

Mr D McMurray - Director

1.	STATUTORY INFORMATION

DMS Rentals Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

10% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2019

and 31 May 2020

677,995

DEPRECIATION

At 1 June 2019

226,359

Charge for year

66,530

At 31 May 2020

292,889

NET BOOK VALUE

At 31 May 2020

385,106

At 31 May 2019

451,636

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade debtors

49,064

75,952

Other debtors

1,147

2,856

50,211

78,808

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Bank loans and overdrafts

50,000

-

Hire purchase contracts

92,504

95,138

Trade creditors

14,708

33,279

Taxation and social security

6,534

-

Other creditors

44,201

44,084

207,947

172,501

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.20

31.5.19

£

£

Hire purchase contracts

201,377

284,464