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REGISTERED NUMBER: 07849255 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 NOVEMBER 2022

FOR

DAVNET SYSTEMS LIMITED

DAVNET SYSTEMS LIMITED (REGISTERED NUMBER: 07849255)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DAVNET SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2022







DIRECTOR: Mr M R Davies





REGISTERED OFFICE: 53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF





REGISTERED NUMBER: 07849255 (England and Wales)





ACCOUNTANTS: Honey Barrett Limited
Chartered Accountants
53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF

DAVNET SYSTEMS LIMITED (REGISTERED NUMBER: 07849255)

BALANCE SHEET
30 NOVEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - 357

CURRENT ASSETS
Debtors 6 10,150 100,086
Cash at bank 543 2,434
10,693 102,520
CREDITORS
Amounts falling due within one year 7 10,693 11,777
NET CURRENT ASSETS - 90,743
TOTAL ASSETS LESS CURRENT
LIABILITIES

-

91,100

PROVISIONS FOR LIABILITIES 8 - 68
NET ASSETS - 91,032

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (100 ) 90,932
SHAREHOLDERS' FUNDS - 91,032

DAVNET SYSTEMS LIMITED (REGISTERED NUMBER: 07849255)

BALANCE SHEET - continued
30 NOVEMBER 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2023 and were signed by:





Mr M R Davies - Director


DAVNET SYSTEMS LIMITED (REGISTERED NUMBER: 07849255)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022


1. STATUTORY INFORMATION

Davnet Systems 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.

2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
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.

Turnover
Turnover represents invoiced sales of services.

Tangible fixed assets
All fixed assets are initially recorded at cost.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment - 25% on reducing balance

DAVNET SYSTEMS LIMITED (REGISTERED NUMBER: 07849255)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company 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 and loans to / from related parties.

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 measured 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 transaction price less any impairment.

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, 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.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


DAVNET SYSTEMS LIMITED (REGISTERED NUMBER: 07849255)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

5. TANGIBLE FIXED ASSETS
Equipmen
£   
COST
At 1 December 2021 1,108
Disposals (1,108 )
At 30 November 2022 -
DEPRECIATION
At 1 December 2021 751
Charge for year 90
Eliminated on disposal (841 )
At 30 November 2022 -
NET BOOK VALUE
At 30 November 2022 -
At 30 November 2021 357

DAVNET SYSTEMS LIMITED (REGISTERED NUMBER: 07849255)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 10,150 98,331
Prepayments and accrued income - 1,755
10,150 100,086

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 1,871 875
Corporation tax 7,442 6,774
PAYE and social security - 181
Other creditors - 2,468
Director's current account - 102
Accruals and deferred income 1,380 1,377
10,693 11,777

8. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax - 68

Deferred
tax
£   
Balance at 1 December 2021 68
Provided during year (68 )
Balance at 30 November 2022 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100