DMR SERVICES LIMITED Filleted accounts for Companies House (small and micro)

DMR SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05055189

DMR SERVICES LIMITED

Filleted Unaudited Financial Statements

31 July 2021

DMR SERVICES LIMITED

Statement of Financial Position

31 July 2021

	2021	2020
Note	£	£

Fixed assets

Tangible assets	5	970,204	977,423

Current assets

Debtors	6	259,038	228,837
Cash at bank and in hand		170,354	226,368
		---------	---------
		429,392	455,205

Creditors: amounts falling due within one year	7	250,152	271,102
		---------	---------
Net current assets		179,240	184,103
		------------	------------
Total assets less current liabilities		1,149,444	1,161,526

Creditors: amounts falling due after more than one year	8	604,519	617,465
		------------	------------
Net assets		544,925	544,061
		------------	------------

DMR SERVICES LIMITED

Statement of Financial Position (continued)

31 July 2021

	2021	2020
Note	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	544,825	543,961
	---------	---------
Shareholders funds	544,925	544,061
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 31 January 2022 , and are signed on behalf of the board by:

Mr D C Miller
Director

Company registration number: 05055189

DMR SERVICES LIMITED

Notes to the Financial Statements

Year ended 31 July 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 102 Queslett Road, Streetley, Sutton Coldfield, Birmingham, West Midlands, B74 2EZ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the value of the consideration received or receivable and represents amounts receivable for services rendered.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax. Deferred tax assets are not recognised. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	1% straight line
Short Leasehold property	-	15% straight line
Fixtures and fittings	-	33% straight line
Motor vehicles	-	25% straight line

	Computer equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

Financial liabilities and equity 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 entity after deducting all of its financial liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 95 (2020: 95 ).

5. Tangible assets

	Freehold property	Short leasehold property	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Aug 2020	1,028,102	41,865	332,125	10,200	116,038	1,528,330
Additions	–	–	–	–	5,258	5,258
	------------	---------	---------	---------	---------	------------
At 31 Jul 2021	1,028,102	41,865	332,125	10,200	121,296	1,533,588
	------------	---------	---------	---------	---------	------------
Depreciation
At 1 Aug 2020	76,686	41,865	314,737	10,200	107,419	550,907
Charge for the year	6,475	–	1,896	–	4,106	12,477
	------------	---------	---------	---------	---------	------------
At 31 Jul 2021	83,161	41,865	316,633	10,200	111,525	563,384
	------------	---------	---------	---------	---------	------------
Carrying amount
At 31 Jul 2021	944,941	–	15,492	–	9,771	970,204
	------------	---------	---------	---------	---------	------------
At 31 Jul 2020	951,416	–	17,388	–	8,619	977,423
	------------	---------	---------	---------	---------	------------

6. Debtors

	2021	2020
	£	£
Trade debtors	172,809	148,830
Other debtors	86,229	80,007
	---------	---------
	259,038	228,837
	---------	---------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans	61,380	51,281
Trade creditors	82,752	75,138
Corporation tax	10,822	22,397
Social security and other taxes	36,764	36,190
Other creditors	58,434	86,096
	---------	---------
	250,152	271,102
	---------	---------

See note 9 for details of the bank loans

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

	2021	2020
	£	£
Bank loans	604,519	617,465
	---------	---------

Included in bank loans are a Covid Bounce Back loan which is guaranteed by the government and is being repaid over five years. Also included is a commercial mortgage which is secured over the properties involved.

9. Related party transactions

The company was under the control of the directors throughout the year. No transactions with related parties were undertaken such as are required to be disclosed under the Financial Reporting Standard for Smaller Entities.