DM Systems And Test Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07273959 (England and Wales)

Financial Statements

for the Year Ended 30 June 2018

for

DM Systems And Test Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S M Webber

SECRETARY:

S M Webber

REGISTERED OFFICE:

Unit 3

Iceni Court

Icknield Way

Letchworth

Hertfordshire

SG6 1TN

REGISTERED NUMBER:

07273959 (England and Wales)

AUDITORS:

Mander Duffill

Chartered Accountants & Statutory Auditor

The Old Post Office

41-43 Market Place

Chippenham

Wiltshire

SN15 3HR

FIXED ASSETS

Tangible assets

4

176,048

217,584

CURRENT ASSETS

Stocks

409,101

204,598

Debtors

5

1,084,320

1,129,681

Cash at bank and in hand

155,797

159,881

1,649,218

1,494,160

CREDITORS

Amounts falling due within one year

6

694,098

656,368

NET CURRENT ASSETS

955,120

837,792

TOTAL ASSETS LESS CURRENT LIABILITIES

1,131,168

1,055,376

PROVISIONS FOR LIABILITIES

32,488

41,341

NET ASSETS

1,098,680

1,014,035

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

1,098,679

1,014,034

SHAREHOLDERS' FUNDS

1,098,680

1,014,035

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved and authorised for issue the director on 21 January 2019 and were signed by:

S M Webber - Director

1.	STATUTORY INFORMATION

DM Systems And Test 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Measure revenue at the fair value of the consideration received or receivable. The fair value of the consideration

takes into account the amount of trade discounts, prompt settlement discounts and volume rebates allowed by

the entity.

Recognition of revenue shall occur when;

The entity has transferred to the buyer the significant risks and rewards of ownership of the goods;

The entity retains neither continuing managerial involvement to the degree usually associated with ownership nor

effective control over the goods sold;

The amount of revenue can be measured reliably;

It is probable that the economic benefits associated with the transaction will flow to the entity; and

The costs incurred or to be incurred in respect of the transaction can be measured reliably

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

-

33% on cost, 25% on cost, 20% on cost, 12.5% on cost and 10% on cost

Stocks

Stock has been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in

progress, cost includes a relevant proportion of overheads according to the stage manufacture or completion.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2017 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2017

367,126

Additions

13,464

At 30 June 2018

380,590

DEPRECIATION

At 1 July 2017

149,542

Charge for year

55,000

At 30 June 2018

204,542

NET BOOK VALUE

At 30 June 2018

176,048

At 30 June 2017

217,584

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

393,360

422,909

Amounts owed by group undertakings

611,121

623,861

Other debtors

79,839

82,911

1,084,320

1,129,681

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade creditors

540,571

505,908

Taxation and social security

93,309

67,117

Other creditors

60,218

83,343

694,098

656,368

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.6.18

30.6.17

£

£

Within one year

63,000

-

Between one and five years

189,000

-

252,000

-

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Pritchard ACA (Senior Statutory Auditor)

for and on behalf of Mander Duffill

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

10.	ULTIMATE CONTROLLING PARTY

Mr S M Webber and his family are the ultimate controlling party, 100% shareholders and Mr S Webber is the

director of the parent company Shoo 501 Limited.