DANADS INTERNATIONAL LIMITED

Company Registration Number:
12222420 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

DANADS INTERNATIONAL LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Balance sheet
Notes

DANADS INTERNATIONAL LIMITED

Balance sheet

As at 31 December 2022


Notes

2022

2021


£

£
Fixed assets
Intangible assets: 3 0 3,440,838
Total fixed assets: 0 3,440,838
Current assets
Debtors:   3,708,683 1,295,300
Cash at bank and in hand: 245,555 15,807
Total current assets: 3,954,238 1,311,107
Creditors: amounts falling due within one year: 4 (6,828) (830,287)
Net current assets (liabilities): 3,947,410 480,820
Total assets less current liabilities: 3,947,410 3,921,658
Creditors: amounts falling due after more than one year: 5 (7,211,085) (4,896,692)
Total net assets (liabilities): (3,263,675) (975,034)
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: (3,264,675) (976,034)
Shareholders funds: (3,263,675) (975,034)

The notes form part of these financial statements

DANADS INTERNATIONAL LIMITED

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 05 September 2023
and signed on behalf of the board by:

Name: Mr Anders Hagstrom
Status: Director

The notes form part of these financial statements

DANADS INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents the net sum invoiced, exclusive of VAT, for the supply of services in the year.

Intangible fixed assets and amortisation policy

Software development costs that are applicable directly to current customers are treated as a Cost of Sale and written off to Profit & Loss Account as they are incurred. Software development costs that are applicable to on-going and future enhancements are treated as an Intangible fixed asset and are amortised on a straight line basis over a period of 60 months commencing with the month in which the expenditure was incurred.

Other accounting policies

Transactions undertaken in foreign currencies, primarily the US dollar are translated into GB£ using HM Revenue & Customs published exchange rates

DANADS INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

2. Employees

2022 2021
Average number of employees during the period 6 6

DANADS INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Intangible Assets

Total
Cost £
At 01 January 2022 4,029,351
Additions 3,013,796
Disposals (6,924,609)
Transfers (118,538)
At 31 December 2022 0
Amortisation
At 01 January 2022 588,513
Charge for year 1,857,155
On disposals (2,445,668)
At 31 December 2022 0
Net book value
At 31 December 2022 0
At 31 December 2021 3,440,838

DANADS INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Creditors: amounts falling due within one year note

Creditors falling due within one year comprise wholly of trade creditors and accruals

DANADS INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Creditors: amounts falling due after more than one year note

Creditors-amounts falling due after more than one year comprises wholly of transactions with Danads International AB, the parent company incorporated in Sweden and with a fellow subsidiary company, Danads Inc incorporated in the USA. The loans have no fixed date of repayment.