DIM 365 Ltd Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 08857089

DIM 365 LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2018

DIM 365 LTD

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2018

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

DIM 365 LTD

OFFICERS AND PROFESSIONAL ADVISERS

Director	Mr R Slabbert

Registered office	168 Church Road
	Hove
	East Sussex
	BN3 2DL

Accountants	UHY Hacker Young
	Chartered Accountants
	168 Church Road
	Hove
	BN3 2DL

DIM 365 LTD

STATEMENT OF FINANCIAL POSITION

31 March 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	4		453,972	453,972

Current assets

Debtors	5	729,271	739,237
Cash at bank and in hand		125	616
		----------	----------
		729,396	739,853

Creditors: amounts falling due within one year	6	375,025		392,206
		----------		----------
Net current assets			354,371	347,647
			----------	----------
Total assets less current liabilities			808,343	801,619

Creditors: amounts falling due after more than one year	7	355,215	366,341
		----------	----------
Net assets		453,128	435,278
		----------	----------

Capital and reserves

Called up share capital	1	1
Profit and loss account	453,127	435,277
	----------	----------
Shareholders funds	453,128	435,278
	----------	----------

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 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 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

DIM 365 LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2018

These financial statements were approved by the board of directors and authorised for issue on 17 January 2019 , and are signed on behalf of the board by:

Mr R Slabbert
Director

Company registration number: 08857089

DIM 365 LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2018

1. General information

The company is a private company limited by shares, registered in the United Kingdom. The address of the registered office is 168 Church Road, Hove, East Sussex BN3 2DL. The principal place of business is Hazel Cottage, Warren Road, Woodingdean, West Sussex BN2 6DA.

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.

Going concern

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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.

Financial instruments

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.

4. Tangible assets

	Land and buildings
	£
Cost
At 1 April 2017 and 31 March 2018	453,972
	----------
Depreciation
At 1 April 2017 and 31 March 2018	–
	----------
Carrying amount
At 31 March 2018	453,972
	----------
At 31 March 2017	453,972
	----------

5. Debtors

	2018	2017
	£	£
Other debtors	729,271	739,237
	----------	----------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	10,344	8,520
Trade creditors	2,160	1,680
Corporation tax	6,829	2,625
Amounts due to connected companies	285,268	308,318
Other creditors	70,424	71,063
	----------	----------
	375,025	392,206
	----------	----------

The bank loans are secured by a first legal charge over the properties held in assets, guarantees from an individual guarantor and debentures from the company.

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

	2018	2017
	£	£
Bank loans and overdrafts	355,215	366,341
	----------	----------

8. Director's advances, credits and guarantees

At 31st March 2018 the company owed the director Mr R Slabbert £21,530 (2017 £21,530). The loan was interest free and payable on demand.