Registration number:
DX2 Consulting Ltd
for the Year Ended 31 October 2021
DX2 Consulting Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
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Accountants' Report |
DX2 Consulting Ltd
Company Information
Directors |
Mr David Duffy Mrs Jennifer Helen Duffy |
Registered office |
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Accountants |
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DX2 Consulting Ltd
(Registration number: SC462208)
Balance Sheet as at 31 October 2021
Note |
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2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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DX2 Consulting Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021
General information |
The company is a private company limited by share capital, incorporated in Scotland.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
Straight line at 33% |
DX2 Consulting Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Financial instruments
Classification
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.
Employees and Directors |
The average number of persons employed by the company (including directors) during the year, was
Directors' remuneration
The directors' remuneration for the year was as follows:
2021 |
2020 |
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Remuneration |
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Contributions paid to money purchase schemes |
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21,539 |
91,137 |
Taxation |
The tax charge on the profit for the year was as follows:
2021 |
2020 |
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UK corporation tax |
(233) |
17,178 |
Tax on profit |
(233) |
17,178 |
DX2 Consulting Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 November 2020 |
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At 31 October 2021 |
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Depreciation |
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At 1 November 2020 |
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Charge for the year |
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At 31 October 2021 |
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Carrying amount |
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At 31 October 2021 |
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At 31 October 2020 |
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Stocks |
2021 |
2020 |
Debtors |
Current |
2021 |
2020 |
Trade debtors |
- |
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Other debtors |
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- |
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Creditors |
Creditors: amounts falling due within one year
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2020 |
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Due within one year |
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Taxation and social security |
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Other creditors |
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DX2 Consulting Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021
Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows:
2021 |
2020 |
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Within one year |
2,819 |
5,050 |
Between one and five years |
- |
421 |
2,819 |
5,471 |
Related party transactions |
Creditors include the following amounts which are owed to individuals who were directors of the company during the year:
2021 |
2020 |
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Mr David Duffy |
16,223 |
12,248 |
Mrs Jennifer Helen Duffy |
16,223 |
12,246 |
32,446 |
24,494 |
The maximum balance outstanding during the year amounted to £32,446.
The directors current accounts are repayable on demand.
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
DX2 Consulting Ltd
for the Year Ended 31 October 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DX2 Consulting Ltd for the year ended 31 October 2021 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the Board of Directors of DX2 Consulting Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of DX2 Consulting Ltd and state those matters that we have agreed to state to the Board of Directors of DX2 Consulting Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DX2 Consulting Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that DX2 Consulting Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of DX2 Consulting Ltd. You consider that DX2 Consulting Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of DX2 Consulting Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX