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Unaudited Financial Statements |
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For The Year Ended 31st October 2020 |
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DTMS Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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For The Year Ended 31st October 2020 |
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for |
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DTMS Limited |
DTMS Limited (Registered number: 04392914) |
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Contents of the Financial Statements |
For The Year Ended 31st October 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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DTMS Limited |
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Company Information |
For The Year Ended 31st October 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
4 Old Market Place |
Ripon |
North Yorkshire |
HG4 1EQ |
DTMS Limited (Registered number: 04392914) |
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Balance Sheet |
31st October 2020 |
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31.10.20 | 31.10.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Investments | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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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 |
8 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
DTMS Limited (Registered number: 04392914) |
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Balance Sheet - continued |
31st October 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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DTMS Limited (Registered number: 04392914) |
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Notes to the Financial Statements |
For The Year Ended 31st October 2020 |
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1. | STATUTORY INFORMATION |
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DTMS Limited is a
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2. | ACCOUNTING POLICIES |
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Summary of significant accounting policies |
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Going Concern and COVID-19 |
The coronavirus pandemic has significantly disrupted individuals' lives and businesses' economic prospects in the UK and across the globe. The UK entered lockdown in March 2020, November 2020 and January 2021.At the time of filing these financial statements restrictions and social distancing have been significantly lifted in line with the government's road map out of lockdown. |
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The effect of COVID-19 on the company during the financial year has not been significant. We have managed to conserve sufficient cash to ensure that the business has continued to serve customers and to act responsibly with suppliers and employees.We have taken advantage of the government assistance including the Coronavirus Job Retention Scheme and Small Business Grant. |
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We have continued to prepare the accounts on a going concern basis and deem this appropriate. We do not consider that a material uncertainty about our going concern status currently exists. In making this assessment we have considered the likely trading conditions for a period of twelve months from the date of approval of these accounts. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
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Depreciation is provided on all tangible assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
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Plant and machinery etc | - 33% on reducing balance, 25% on reducing balance and 15% on reducing |
balance |
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Government grants |
Government grants are accounted for using the accruals method whereby the grant is recognised as income in the period in which it becomes receivable. |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Work in progress is valued at the full selling price of work performed before the accounting date reflecting the accrual of the right to consideration as contract activity progresses. |
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DTMS Limited (Registered number: 04392914) |
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Notes to the Financial Statements - continued |
For The Year Ended 31st October 2020 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates defined contribution pension schemes. Contributions payable to the company's pension schemes are charged to profit and loss in the period to which they relate. |
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Hire purchase |
Tangible fixed assets acquired under hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors. |
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Leasing commitments |
Rentals payable under operating leases are charged to the profit and loss account in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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DTMS Limited (Registered number: 04392914) |
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Notes to the Financial Statements - continued |
For The Year Ended 31st October 2020 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1st November 2019 |
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Additions |
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Disposals | ( |
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At 31st October 2020 |
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DEPRECIATION |
At 1st November 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st October 2020 |
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NET BOOK VALUE |
At 31st October 2020 |
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At 31st October 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.20 | 31.10.19 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CURRENT ASSET INVESTMENTS |
31.10.20 | 31.10.19 |
£ | £ |
Ridings Machinery Ring Limited | 50 | 50 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.20 | 31.10.19 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.10.20 | 31.10.19 |
£ | £ |
Hire purchase contracts |
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DTMS Limited (Registered number: 04392914) |
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Notes to the Financial Statements - continued |
For The Year Ended 31st October 2020 |
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9. | CAPITAL COMMITMENTS |
31.10.20 | 31.10.19 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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10. | OTHER FINANCIAL COMMITMENTS |
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The Company had total leasing commitments of £38,815 as at the balance sheet date. (2019 £56,420). |