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Registration number: 03451101

Dataflow I.T. Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

Dataflow I.T. Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Dataflow I.T. Limited

Company Information
__________________________________________________________________________

Directors

Nicholas Thompson

Murray Thompson

Registered office

Viewlands
Broomehall Road
Coldharbour
Dorking
Surrey
RH5 6HJ


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Dataflow I.T. Limited

(Registration number: 03451101)
Balance Sheet as at 31 December 2022
__________________________________________________________________________

Note

2022
£

2021
£

   

     

fixed assets

   

 

tangible assets

3

 

730,525

 

451,162

Investments

 

550

 

550

   

731,075

 

451,712

Current assets

   

 

Debtors

5

100,666

 

59,046

 

Cash at bank and in hand

 

5,189

 

32,443

 

 

105,855

 

91,489

 

Creditors: Amounts falling due within one year

6

(474,226)

 

(264,524)

 

Net current liabilities

   

(368,371)

 

(173,035)

Net assets

   

362,704

 

278,677

capital and reserves

   

 

Called up share capital

1,000

 

1,000

 

Revaluation reserve

600,000

 

450,000

 

Profit and loss account

(238,296)

 

(172,323)

 

Total equity

   

362,704

 

278,677

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 24 October 2023 and signed on its behalf by:
 

.........................................
Murray Thompson
Director

 

Dataflow I.T. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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

Plant and machinery

25% RB

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Dataflow I.T. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
__________________________________________________________________________

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Dataflow I.T. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
__________________________________________________________________________

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 2).

3

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2022

450,000

238,203

688,203

Revaluations

150,000

-

150,000

Additions

129,653

-

129,653

At 31 December 2022

729,653

238,203

967,856

Depreciation

At 1 January 2022

-

237,041

237,041

Charge for the year

-

290

290

At 31 December 2022

-

237,331

237,331

Carrying amount

At 31 December 2022

729,653

872

730,525

At 31 December 2021

450,000

1,162

451,162

Included within the net book value of land and buildings above is £729,653 (2021 - £450,000) in respect of long leasehold land and buildings.
 

4

Investments

2022
£

2021
£

Investments in subsidiaries

550

550

 

Dataflow I.T. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
__________________________________________________________________________

Subsidiaries

£

Cost or valuation

At 1 January 2022

550

Provision

Carrying amount

At 31 December 2022

550

At 31 December 2021

550

5

Debtors

Current

2022
£

2021
£

Trade debtors

36,720

18,991

Prepayments

9,000

9,000

Other debtors

54,946

31,055

 

100,666

59,046

 

Dataflow I.T. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
__________________________________________________________________________

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Bank loans and overdrafts

9

465,929

260,929

trade creditors

 

7,397

2,695

Other creditors

 

900

900

 

474,226

264,524

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

150,000

150,000

9

Loans and borrowings