REGISTERED NUMBER: 05829629 (England and Wales) |
GROUP STRATEGIC REPORT, |
REPORT OF THE DIRECTORS AND |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
FOR |
DMA GROUP LIMITED |
REGISTERED NUMBER: 05829629 (England and Wales) |
GROUP STRATEGIC REPORT, |
REPORT OF THE DIRECTORS AND |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
FOR |
DMA GROUP LIMITED |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
Page |
Company Information | 1 |
Group Strategic Report | 2 |
Report of the Directors | 5 |
Report of the Independent Auditors | 6 |
Consolidated Statement of Comprehensive Income | 10 |
Consolidated Balance Sheet | 11 |
Company Balance Sheet | 12 |
Consolidated Statement of Changes in Equity | 13 |
Company Statement of Changes in Equity | 14 |
Consolidated Cash Flow Statement | 15 |
Notes to the Consolidated Cash Flow Statement | 16 |
Notes to the Consolidated Financial Statements | 17 |
DMA GROUP LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Certified Accountants & |
Statutory Auditors |
Ground Floor |
Egerton House |
68 Baker Street |
Weybridge |
Surrey |
KT13 8AL |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
GROUP STRATEGIC REPORT |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
The directors present their strategic report of the company and the group for the year ended 29 September 2022. |
DMA Group |
We are the DMA Group. www.dma-group.co.uk |
Making buildings work is what we do best. As a group we offer the complete 'Life of Building' solution to our customers. We are uniquely structured with a broad team of in-house specialists spanning facilities & maintenance, projects & engineering, energy services and joinery. Our joinery team manufactures bespoke products in our state-of-the-art workshop in Canterbury. The capabilities of our directly employed teams are supplemented by our supply chain partners so that we can tailor and deliver any property service solution. |
REVIEW OF BUSINESS |
Group trading performance |
The group has delivered £19,235,299 (2021 - £15,604,149) sales and a profit before tax of £34,838 (2021 - £74,242). |
The group balance sheet at year end has net assets of £1,861,793 (2021 - £1,826,788), net current liabilities of £653,050 (2021 - £732,344) and £308 (2021 - £88,157) in cash. |
Group strategy |
Our vision: Powered by our expertise and our technology, we will make buildings work better and change the UK maintenance industry, for good. |
The Senior Leadership Team has a wealth of experience and is focused on growth through great people, repeatedly delivering great service, at scale, and achieving great results for our customers, our people and our business. |
Growth will be achieved through scaling up our own technology-enabled uber-efficient delivery model and sustainably delivering better customer service, driven by business process automation that's powered by live, transparent, end-to-end data, available to all stakeholders anywhere, anytime, on any device. |
In addition, we will roll out our 'managed service' model that will enable our customers to procure our single, fully serviced maintenance management platform to simplify, aggregate and consolidate all their service needs and providers within one system. |
Our fully integrated hard service FM scope comprises planned maintenance, 24/7 reactive emergency callouts and repairs, small works, larger projects and energy services that helps our customers reduce energy and cut carbon on their journey to Net Zero. |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
GROUP STRATEGIC REPORT |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
PRINCIPAL RISKS AND UNCERTAINTIES |
The main risks, in no particular order, and associated mitigations are: |
- | Availability of skills. Our industry faces an unprecedented skills gap. This is the culmination of a long-term lack of apprenticeships, falling numbers of young recruits, and an exodus of many skilled operatives through Brexit, all compounded by the Covid pandemic. This lack of skills means an intense demand for skilled labour. All of which has conspired to increase salary costs, just at a time of an energy and cost of living crisis and a fragile economy. At DMA we are relying on our legacy of high levels of employee engagement, and low employee turnover, plus the launch of a formal apprenticeship scheme to combat the skills crisis. We have also added an HR function so that we can directly recruit in addition to using partner agencies; |
- | Availability of materials. Parts and material have suffered increasing lead times. We main close relationships with our principal and regular supplies to ensure we secure prioritised support whenever possible. |
- | Credit risk. We only trade with reputable building owners, occupiers, managers and agents. We ensure that our credit risk is covered by positive cashflow and/or the financial covenant offered by our customer. The main contractor debtors in Joinery are insured via a credit insurance policy. Exposure above, or in the absence of, an insured limit is accepted only after scrutiny of the debtor's financial security. We are not in control of main contract programmes so exposure may be taken unwillingly and in this event will be managed closely in terms of timeliness of payments; |
- | Funding. We maintain tight control over working capital and focus daily on cash collection, billing and work in progress; |
- | Competition. We are one of only a very few service providers to have a proprietary enterprise management system, called BiO®. The level of automation in our business processes is growing by the month and will always be subject to continuous improvement in delivery of great customer service and production of efficiency benefits for our customers and our business. We invest significant sums in our technology and our people. We have strong engagement and a family culture, and together we are focused on results; |
- | Key person exposure (technology). Representative of the strategic importance of our technology development, we have Key Person Insurance in place for our Chief Technology Officer representative of the criticality of his contribution. |
- | Reputational risk. Our sales governance process ensures we only tender for and deliver projects within our core competency. We maintain an approved service partner register. Our 24/7 customer care team provide continuous customer support including for emergency call out and repairs. Our leadership is visible and accessible whenever customer issues arise. |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
GROUP STRATEGIC REPORT |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
Capital structure |
The group's history goes back over 200 years and has been in its current ownership since 1972. |
The board is committed to the long-term success of the group. |
Our People |
The board continues to recognise the hard work, loyalty, commitment, passion and enthusiasm of our great people in consistently delivering high quality services to our customers. |
Quality |
Our ISO 9001 accreditations have been maintained throughout the group companies during the year. |
Health & Safety |
The group continues its emphasis on health and safety which is paramount in all its operations. DMA Maintenance Ltd is certified to ISO 45001 |
The group uses an external consultant, UKHSE, for quality, health, safety & environmental matters, ensuring the group is working to its ISO accreditations and adhering to its objectives for continuous improvement. |
Environment & Sustainability |
Climate change and the necessity to achieve zero emissions has shaped our corporate strategy. |
Our Energy Services team goes from strength to strength having delivered the UK's first net zero hospital in Rye. We advise and support our customers on their net zero journeys from the initial energy surveys to funding to design and execution to monitoring & optimising the resultant carbon savings. |
Our Joinery business emphasises the importance of sustainability in all its products and has been reaccredited with its FSC and PEFC chain of custody certification. The business is accredited to ISO 14001. DMA Maintenance Ltd also holds this accreditation. |
Corporate Social Responsibility |
All group companies recognise the importance of their responsibilities to the communities in which they operate. The DMA Charitable Trust, a separate registered Charity (No. 1030577), continues to be the focus for the group's charitable work. |
ON BEHALF OF THE BOARD: |
29 June 2023 |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
The directors present their report with the financial statements of the company and the group for the year ended 29 September 2022. |
PRINCIPAL ACTIVITY |
The principal activity of the group in the year under review was that of building services contractors and engineers, and joinery contractor and manufacturer. |
DIVIDENDS |
No dividends will be distributed for the year ended 29 September 2022. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 30 September 2021 to the date of this report. |
Other changes in directors holding office are as follows: |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
DMA GROUP LIMITED |
Opinion |
We have audited the financial statements of DMA Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 29 September 2022 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the group's and of the parent company affairs as at 29 September 2022 and of the group's profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
DMA GROUP LIMITED |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the parent company financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
DMA GROUP LIMITED |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. |
Based on our understanding and accumulated knowledge of the group and the parent company and the sector in which it operates we considered the risk of acts by the group and the parent company which were contrary to applicable laws and regulations, including fraud and whether such actions or non-compliance might have a material effect on the financial statements. These included but were not limited to those that relate to the form and content of the financial statements, such as the group and parent company accounting policies, UK accounting standards and UK Companies Act 2006. All team members were briefed to ensure they were aware of any relevant regulations in relation to their work. |
We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of override of controls, and determined that the principal risks were related to posting inappropriate journal entries, management bias in accounting estimates and improper revenue recognition associated with period-end cut-off. Our audit procedures included, but were not limited to: |
- | Agreement of the financial statements to underlying supporting documentation; |
- | Challenging assumptions and judgements made by management in their significant accounting estimates; |
- | Revenue period-end cut-off procedures; |
- | Identifying and testing journal entries; |
- | Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud; and |
- | Obtaining an understanding of the control environment in monitoring compliance with laws and regulations. |
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
DMA GROUP LIMITED |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Certified Accountants & |
Statutory Auditors |
Ground Floor |
Egerton House |
68 Baker Street |
Weybridge |
Surrey |
KT13 8AL |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
29.9.22 | 29.9.21 |
Notes | £ | £ |
TURNOVER | 3 | 19,235,299 | 15,604,149 |
Cost of sales | 15,447,901 | 12,683,482 |
GROSS PROFIT | 3,787,398 | 2,920,667 |
Administrative expenses | 3,728,940 | 3,037,607 |
58,458 | (116,940 | ) |
Other operating income | - | 89,401 |
OPERATING PROFIT/(LOSS) | 5 | 58,458 | (27,539 | ) |
Interest payable and similar expenses | 6 | 39,411 | 46,703 |
PROFIT/(LOSS) BEFORE TAXATION | 19,047 | (74,242 | ) |
Tax on profit/(loss) | 7 | (15,791 | ) | (427,149 | ) |
PROFIT FOR THE FINANCIAL YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
34,838 |
352,907 |
Profit attributable to: |
Owners of the parent | 34,838 | 352,907 |
Total comprehensive income attributable to: |
Owners of the parent | 34,838 | 352,907 |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
CONSOLIDATED BALANCE SHEET |
29 SEPTEMBER 2022 |
29.9.22 | 29.9.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 9 | 1,120,262 | 1,127,566 |
Tangible assets | 10 | 1,467,272 | 1,540,384 |
Investments | 11 | - | - |
2,587,534 | 2,667,950 |
CURRENT ASSETS |
Stocks | 12 | 29,486 | 32,439 |
Debtors | 13 | 6,160,231 | 5,449,309 |
Cash at bank and in hand | 308 | 88,157 |
6,190,025 | 5,569,905 |
CREDITORS |
Amounts falling due within one year | 14 | 6,843,075 | 6,302,249 |
NET CURRENT LIABILITIES | (653,050 | ) | (732,344 | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
1,934,484 |
1,935,606 |
CREDITORS |
Amounts falling due after more than one year |
15 |
(28,541 |
) |
(59,823 |
) |
PROVISIONS FOR LIABILITIES | 19 | (44,150 | ) | (48,995 | ) |
NET ASSETS | 1,861,793 | 1,826,788 |
CAPITAL AND RESERVES |
Called up share capital | 20 | 4,907,810 | 4,907,643 |
Other reserves | 21 | 52,647 | 52,647 |
Retained earnings | 21 | (3,098,664 | ) | (3,133,502 | ) |
SHAREHOLDERS' FUNDS | 1,861,793 | 1,826,788 |
The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2023 and were signed on its behalf by: |
A D Wood - Director |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
COMPANY BALANCE SHEET |
29 SEPTEMBER 2022 |
29.9.22 | 29.9.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 9 |
Tangible assets | 10 |
Investments | 11 |
CURRENT ASSETS |
Debtors | 13 |
CREDITORS |
Amounts falling due within one year | 14 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 20 |
Retained earnings | 21 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | - | - |
The financial statements were approved by the Board of Directors and authorised for issue on |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
Called up |
share | Retained | Other | Total |
capital | earnings | reserves | equity |
£ | £ | £ | £ |
Balance at 30 September 2020 | 4,907,643 | (3,486,409 | ) | 52,647 | 1,473,881 |
Changes in equity |
Total comprehensive income | - | 352,907 | - | 352,907 |
Balance at 29 September 2021 | 4,907,643 | (3,133,502 | ) | 52,647 | 1,826,788 |
Changes in equity |
Issue of share capital | 167 | - | - | 167 |
Total comprehensive income | - | 34,838 | - | 34,838 |
Balance at 29 September 2022 | 4,907,810 | (3,098,664 | ) | 52,647 | 1,861,793 |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
COMPANY STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 30 September 2020 | ( |
) |
Changes in equity |
Balance at 29 September 2021 | ( |
) |
Changes in equity |
Issue of share capital | - |
Balance at 29 September 2022 | ( |
) |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
CONSOLIDATED CASH FLOW STATEMENT |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
29.9.22 | 29.9.21 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 66,075 | 45,453 |
Interest paid | (39,411 | ) | (46,703 | ) |
Taxation refund | - | 214,480 |
Net cash from operating activities | 26,664 | 213,230 |
Cash flows from investing activities |
Purchase of intangible fixed assets | (156,466 | ) | (244,217 | ) |
Purchase of tangible fixed assets | (60,820 | ) | (39,563 | ) |
Net cash from investing activities | (217,286 | ) | (283,780 | ) |
Cash flows from financing activities |
Capital repayments in year | (56,343 | ) | (56,908 | ) |
Amount introduced by directors | 150,000 | - |
Amount withdrawn by directors | (167 | ) | - |
Share issue | 167 | - |
Net cash from financing activities | 93,657 | (56,908 | ) |
Decrease in cash and cash equivalents | (96,965 | ) | (127,458 | ) |
Cash and cash equivalents at beginning of year |
2 |
88,157 |
215,615 |
Cash and cash equivalents at end of year |
2 |
(8,808 |
) |
88,157 |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
1. | RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
29.9.22 | 29.9.21 |
£ | £ |
Profit/(loss) before taxation | 19,047 | (74,242 | ) |
Depreciation charges | 271,583 | 201,578 |
Loss on disposal of fixed assets | 8,119 | - |
Intangible asset impairment | 18,000 | - |
Finance costs | 39,411 | 46,703 |
356,160 | 174,039 |
Decrease/(increase) in stocks | 2,953 | (3,156 | ) |
(Increase)/decrease in trade and other debtors | (699,809 | ) | 576,521 |
Increase/(decrease) in trade and other creditors | 406,771 | (701,951 | ) |
Cash generated from operations | 66,075 | 45,453 |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 29 September 2022 |
29.9.22 | 30.9.21 |
£ | £ |
Cash and cash equivalents | 308 | 88,157 |
Bank overdrafts | (9,116 | ) | - |
(8,808 | ) | 88,157 |
Year ended 29 September 2021 |
29.9.21 | 30.9.20 |
£ | £ |
Cash and cash equivalents | 88,157 | 215,615 |
3. | ANALYSIS OF CHANGES IN NET DEBT |
At 30.9.21 | Cash flow | At 29.9.22 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 88,157 | (87,849 | ) | 308 |
Bank overdrafts | - | (9,116 | ) | (9,116 | ) |
88,157 | (96,965 | ) | (8,808 | ) |
Debt |
Finance leases | (117,142 | ) | 56,343 | (60,799 | ) |
(117,142 | ) | 56,343 | (60,799 | ) |
Total | (28,985 | ) | (40,622 | ) | (69,607 | ) |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
1. | STATUTORY INFORMATION |
DMA Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102, the Financial Report Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006. |
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. |
Basis of consolidation |
The financial statements consolidate the accounts of DMA Group Limited and all of its subsidiary undertakings ('subsidiaries') drawn up to 29 September 2022. Intra-group transactions are eliminated on consolidation and all figures relate to external transactions only. |
The results of subsidiaries acquired during the period are included from the effective date of acquisition. |
Critical accounting judgements and key sources of estimation uncertainty |
The preparation of these financial statements requires estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities. Estimates and judgements are continually evaluated and are based on historical experience and expectations of future events believed to be reasonable. |
The directors consider that the following estimates and judgements are likely to have the most significant effect on the amounts recognised in the financial statements: |
Revenue recognition |
The majority of quoted works have a term greater than one month. An assessment is made of the stage of completion of a project at a period end, requiring an element of judgement. |
Estimation of useful life |
The charge in respect of periodic amortisation and depreciation is derived after determining an estimate of an asset's expected useful life and the expected residual value at the end of its life. The useful lives of all assets are determined at the time the assets are acquired and reviewed at least annually for appropriateness. The lives are based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in technology. |
Impairments |
Judgements are made to the carrying value of intangible fixed assets. Where there are indicators of impairment, the company performs an impairment assessment by considering key factors such as performance, revenue secured, cost savings and projected future growth. |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover represents revenue earned under a wide variety of contracts to provide building, engineering and joinery services. Revenue is recognised as earned when, and to the extent that, the group obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which includes an appropriate element of attributable profit (exclusive of Value Added Tax). |
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue recorded reflects the accrual of the right to consideration by reference to the value of work performed. |
Intangible fixed assets and amortisation |
Goodwill arising on acquisition represents the difference between the fair value of net assets acquired and the fair value of the consideration given. Goodwill arising on acquisition is recognised within fixed assets in the year in which it arises and amortised on a straight line basis over its useful economic life, which is considered to be twenty years. Goodwill is reviewed for impairment annually. |
Other intangible assets are initially measured at cost. After initial recognition, other intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets and depreciation |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when the cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. |
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. |
The estimated useful life range is as follows: |
Freehold land and buildings | - | Nil |
Plant and machinery | - | Between 10% and 20% on cost |
Motor vehicles | - | 20% on cost |
Fixtures, fittings and equipment | - | 10% on cost |
Computer equipment | - | Between 10% and 33.3% on cost |
Tenants improvements | - | 10% on cost |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'other operating income' in the statement of comprehensive income. |
Stocks and work in progress |
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Short term contract work in progress has been valued at the lower of cost and estimated selling price less costs to complete less provision for any foreseeable losses. Progress payments received or receivable have been deducted from the value. |
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Current and deferred taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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 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, leasing commitments and operating leases. |
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. |
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the lease term. |
Pensions |
There are subsidiaries in the group where they operate a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. |
The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Valuation of investments |
Investments in subsidiaries are measured at cost less accumulated impairment. Where merger relief is applicable, the cost of the investment in a subsidiary undertaking is measured at the nominal value of the shares issued together with the fair value of any additional consideration paid. |
Investments in unlisted shares, which have been classified as fixed asset investments as the company intends to hold them on a continuing basis are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the profit or loss for the period. |
Long term contracts |
The group classifies as long term contracts those which extend over more than one accounting period. |
The amounts recognised as turnover represent the value of work carried out during the period. Where the outcome of the contract can be assessed with reasonable certainty, attributable profit is recognised in proportion to the amount of turnover recognised in the financial statements. Full provision is made for any foreseeable losses. |
Amounts recoverable on contracts, which are included within debtors, are stated at the net sales value of work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account. |
Debtors |
Debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Cash |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
Creditors |
Creditors are measured at the transaction price. Other financial liabilities including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The group only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. |
Financial assets that are measured at cost and amortised costs are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. |
For financial assets measured at amortised costs, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between as asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Invoice discounting facility |
There are subsidiaries in the group who use an invoice discount facility and retains all significant benefits and risks relating to the debts. The gross amount of the debts are included within assets and a corresponding liability in respect of proceeds received from the facility are shown within liabilities. The interest and charges are recognised as they accrue and are included in the profit and loss account with other interest charges. |
3. | TURNOVER |
All turnover arose within the United Kingdom. |
The whole of turnover is attributable to the principal activities of the group. |
4. | EMPLOYEES AND DIRECTORS |
29.9.22 | 29.9.21 |
£ | £ |
Wages and salaries | 5,161,067 | 3,765,933 |
Social security costs | 566,500 | 376,483 |
Other pension costs | 98,144 | 89,900 |
5,825,711 | 4,232,316 |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
4. | EMPLOYEES AND DIRECTORS - continued |
The average number of employees during the year was as follows: |
29.9.22 | 29.9.21 |
Directors | 4 | 3 |
Administration | 17 | 23 |
Management, technical and surveying | 33 | 18 |
Craftsmen | 57 | 61 |
Unskilled | 4 | - |
Apprentices and trainees | 5 | 1 |
29.9.22 | 29.9.21 |
£ | £ |
Directors' remuneration | 285,153 | 275,161 |
Information regarding the highest paid director is as follows: |
29.9.22 | 29.9.21 |
£ | £ |
Emoluments etc | 151,153 | 145,017 |
5. | OPERATING PROFIT/(LOSS) |
The operating profit (2021 - operating loss) is stated after charging: |
29.9.22 | 29.9.21 |
£ | £ |
Other operating leases | 32,385 | 53,246 |
Depreciation - owned assets | 86,429 | 94,923 |
Depreciation - assets on hire purchase contracts | 39,384 | 33,724 |
Loss on disposal of fixed assets | 8,119 | - |
Goodwill amortisation | 60,930 | 60,930 |
Patents and licences amortisation | 12,000 | 12,000 |
Development costs amortisation | 72,840 | - |
Auditors' remuneration | 23,700 | 21,675 |
6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
29.9.22 | 29.9.21 |
£ | £ |
Bank interest | 39,411 | 46,703 |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
7. | TAXATION |
Analysis of the tax credit |
The tax credit on the profit for the year was as follows: |
29.9.22 | 29.9.21 |
£ | £ |
Current tax: |
Adjustment for earlier years | 30,656 | - |
R&D tax refunds | (41,602 | ) | (427,874 | ) |
Total current tax | (10,946 | ) | (427,874 | ) |
Deferred tax | (4,845 | ) | 725 |
Tax on profit/(loss) | (15,791 | ) | (427,149 | ) |
8. | INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
9. | INTANGIBLE FIXED ASSETS |
Group |
Patents |
and | Development |
Goodwill | licences | costs | Totals |
£ | £ | £ | £ |
COST |
At 30 September 2021 | 1,300,539 | 60,000 | 645,088 | 2,005,627 |
Additions | - | - | 156,466 | 156,466 |
Impairments | - | (18,000 | ) | - | (18,000 | ) |
At 29 September 2022 | 1,300,539 | 42,000 | 801,554 | 2,144,093 |
AMORTISATION |
At 30 September 2021 | 843,572 | 30,000 | 4,489 | 878,061 |
Amortisation for year | 60,930 | 12,000 | 72,840 | 145,770 |
At 29 September 2022 | 904,502 | 42,000 | 77,329 | 1,023,831 |
NET BOOK VALUE |
At 29 September 2022 | 396,037 | - | 724,225 | 1,120,262 |
At 29 September 2021 | 456,967 | 30,000 | 640,599 | 1,127,566 |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
10. | TANGIBLE FIXED ASSETS |
Group |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 30 September 2021 | 940,000 | 114,083 | 994,381 |
Additions | - | 14,176 | 17,267 |
Disposals | - | - | - |
At 29 September 2022 | 940,000 | 128,259 | 1,011,648 |
DEPRECIATION |
At 30 September 2021 | - | 56,856 | 792,901 |
Charge for year | - | 10,235 | 38,215 |
Eliminated on disposal | - | - | - |
At 29 September 2022 | - | 67,091 | 831,116 |
NET BOOK VALUE |
At 29 September 2022 | 940,000 | 61,168 | 180,532 |
At 29 September 2021 | 940,000 | 57,227 | 201,480 |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 30 September 2021 | 441,460 | 128,240 | 367,100 | 2,985,264 |
Additions | 17,373 | - | 12,004 | 60,820 |
Disposals | (22,116 | ) | - | - | (22,116 | ) |
At 29 September 2022 | 436,717 | 128,240 | 379,104 | 3,023,968 |
DEPRECIATION |
At 30 September 2021 | 267,522 | 80,502 | 247,099 | 1,444,880 |
Charge for year | 37,558 | 12,959 | 26,846 | 125,813 |
Eliminated on disposal | (13,997 | ) | - | - | (13,997 | ) |
At 29 September 2022 | 291,083 | 93,461 | 273,945 | 1,556,696 |
NET BOOK VALUE |
At 29 September 2022 | 145,634 | 34,779 | 105,159 | 1,467,272 |
At 29 September 2021 | 173,938 | 47,738 | 120,001 | 1,540,384 |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
10. | TANGIBLE FIXED ASSETS - continued |
Group |
Cost or valuation at 29 September 2021 is as follows: |
Land and Buildings |
£ |
At cost | 1,024,362 |
At valuation |
Impairment | (84,362 | ) |
940,000 |
The freehold land and buildings were valued on an open market existing use basis by the directors. |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 30 September 2021 |
and 29 September 2022 | 264,257 | 64,795 | 329,052 |
DEPRECIATION |
At 30 September 2021 | 101,019 | 17,060 | 118,079 |
Charge for year | 26,425 | 12,959 | 39,384 |
At 29 September 2022 | 127,444 | 30,019 | 157,463 |
NET BOOK VALUE |
At 29 September 2022 | 136,813 | 34,776 | 171,589 |
At 29 September 2021 | 163,238 | 47,735 | 210,973 |
11. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 30 September 2021 |
and 29 September 2022 |
NET BOOK VALUE |
At 29 September 2022 |
At 29 September 2021 |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
11. | FIXED ASSET INVESTMENTS - continued |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiaries |
Registered office: Same as DMA Group Limited. |
Nature of business: |
% |
Class of shares: | holding |
Registered office: Same as DMA Group Limited. |
Nature of business: |
% |
Class of shares: | holding |
Registered office: Bramling House, Bramling, Canterbury, Kent, CT3 1NB. |
Nature of business: |
% |
Class of shares: | holding |
Registered office: Same as DMA Group Limited. |
Nature of business: |
% |
Class of shares: | holding |
Registered office: Same as DMA Group Limited. |
Nature of business: |
% |
Class of shares: | holding |
The companies prefixed with an '*' are wholly owned by Kingsman (Holdings) Limited. |
12. | STOCKS |
Group |
29.9.22 | 29.9.21 |
£ | £ |
Stocks | 29,486 | 32,439 |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
13. | DEBTORS |
Group | Company |
29.9.22 | 29.9.21 | 29.9.22 | 29.9.21 |
£ | £ | £ | £ |
Amounts falling due within one year: |
Trade debtors | 2,676,329 | 2,495,363 |
Amounts owed by group undertakings | - | - |
Amounts recoverable on contract | 2,129,495 | 1,568,705 |
Other debtors | 351,770 | 483,516 |
Directors' loan accounts | 167 | - | 167 | - |
Tax | 469,476 | 458,530 |
Prepayments and accrued income | 466,071 | 418,216 |
6,093,308 | 5,424,330 |
Amounts falling due after more than one | year: |
Trade debtors | 66,923 | 24,979 |
Aggregate amounts | 6,160,231 | 5,449,309 |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
29.9.22 | 29.9.21 | 29.9.22 | 29.9.21 |
£ | £ | £ | £ |
Bank loans and overdrafts (see note 16) | 9,116 | - |
Hire purchase contracts (see note 17) | 38,713 | 57,319 |
Trade creditors | 2,489,963 | 2,035,640 |
Social security and other taxes | 173,700 | 161,796 |
VAT | 591,161 | 742,197 | 84,576 | 120,765 |
Other creditors | 485,717 | 907,923 |
Directors' loan accounts | 150,000 | - | 150,000 | - |
Accruals and deferred income | 2,904,705 | 2,397,374 |
6,843,075 | 6,302,249 |
15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group |
29.9.22 | 29.9.21 |
£ | £ |
Hire purchase contracts (see note 17) | 22,086 | 59,823 |
Trade creditors | 6,455 | - |
28,541 | 59,823 |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
16. | LOANS |
An analysis of the maturity of loans is given below: |
Group | Company |
29.9.22 | 29.9.21 | 29.9.22 | 29.9.21 |
£ | £ | £ | £ |
Amounts falling due within one year or on | demand: |
Bank overdrafts | 9,116 | - |
17. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Group |
Hire purchase contracts |
29.9.22 | 29.9.21 |
£ | £ |
Net obligations repayable: |
Within one year | 38,713 | 57,319 |
Between one and five years | 22,086 | 59,823 |
60,799 | 117,142 |
Group |
Non-cancellable operating | leases |
29.9.22 | 29.9.21 |
£ | £ |
Within one year | 88,289 | 88,289 |
Between one and five years | 96,706 | 184,995 |
184,995 | 273,284 |
18. | SECURED DEBTS |
The following secured debts are included within creditors: |
Group |
29.9.22 | 29.9.21 |
£ | £ |
Bank overdraft | 9,116 | - |
Invoice discounting facility | 5,819 | 297,118 |
14,935 | 297,118 |
Ultimate Invoice Finance Limited hold a fixed and floating charge dated 26 January 2017 over the assets owned by the company and other members of the group. |
A director has provided a personal guarantee, limited to £750,000, for all amounts due to the group's bankers. |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
19. | PROVISIONS FOR LIABILITIES |
Group |
29.9.22 | 29.9.21 |
£ | £ |
Deferred tax | 44,150 | 48,995 |
Group |
Deferred |
tax |
£ |
Balance at 30 September 2021 | 48,995 |
Movement in the year | (4,845 | ) |
Balance at 29 September 2022 | 44,150 |
20. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.9.22 | 29.9.21 |
value: | £ | £ |
Ordinary | £1.00 | 4,907,810 | 4,907,643 |
167 Ordinary shares of £1.00 each were allotted and fully paid for |
21. | RESERVES |
Group |
Retained | Other |
earnings | reserves | Totals |
£ | £ | £ |
At 30 September 2021 | (3,133,502 | ) | 52,647 | (3,080,855 | ) |
Profit for the year | 34,838 | - | 34,838 |
At 29 September 2022 | (3,098,664 | ) | 52,647 | (3,046,017 | ) |
Company |
Retained |
earnings |
£ |
At 30 September 2021 | ( |
) |
Profit for the year |
At 29 September 2022 | ( |
) |
DMA GROUP LIMITED (REGISTERED NUMBER: 05829629) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 SEPTEMBER 2022 |
22. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 29 September 2022 and 29 September 2021: |
29.9.22 | 29.9.21 |
£ | £ |
Director |
Balance outstanding at start of year | - | - |
Amounts advanced | 167 | - |
Amounts repaid | - | - |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | 167 | - |
Director |
Balance outstanding at start of year | - | - |
Amounts repaid | (150,000 | ) | - |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | (150,000 | ) | - |
23. | ULTIMATE CONTROLLING PARTY |
The controlling party is S W Kingsman. |