DD Rights Limited
Unaudited Financial Statements
For the year ended 31 December 2022
For Filing with Registrar
Company Registration No. 07398981 (England and Wales)
DD Rights Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
DD Rights Limited
Balance Sheet
As at 31 December 2022
Page 1
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
182
451,491
Cash at bank and in hand
10,775
182
462,266
Creditors: amounts falling due within one year
4
(8,930)
(462,265)
Net current (liabilities)/assets
(8,748)
1
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
(8,749)
Total equity
(8,748)
1
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 October 2023 and are signed on its behalf by:
A L Jacobsen
Director
Company Registration No. 07398981
DD Rights Limited
Notes to the Financial Statements
For the year ended 31 December 2022
Page 2
1
Accounting policies
Company information
DD Rights Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Savoy Court, London, WC2R 0EX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The principal accounting policies adopted are set out below.
1.2
Going concern
It is the intention of the director to voluntarily dissolve the company within twelve months of the signature date of these accounts. The accounts have therefore been prepared on a basis other than going concern.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic instruments measured at fair value.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the year.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2021 - 0). Directors are remunerated through other group companies.
DD Rights Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
Page 3
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
29,831
Other debtors
182
421,660
182
451,491
4
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
151
Trade creditors
4,454
231,366
Amounts owed to group undertakings
226,574
Other creditors
4,325
4,325
8,930
462,265
5
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
6
Related party transactions
The company has taken advantage of section 1AC.35 of FRS 102 and has not made disclosures of transactions with wholly owned group undertakings.
7
Parent company
The immediate parent company is Glebe Point (London) Ltd, a company incorporated in England & Wales, by virtue of its ownership of 100% of the issued share capital. Its registered address is 7 Savoy Court, London, WC2R 0EX.
There is no ultimate controlling party.