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REGISTERED NUMBER: 13031149 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

DFT GROUP (UK) LTD

DFT GROUP (UK) LTD (REGISTERED NUMBER: 13031149)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DFT GROUP (UK) LTD

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTORS: S J Daniels
D Botoulas





REGISTERED OFFICE: 10 John Street
London
London
WC1N 2EB





REGISTERED NUMBER: 13031149 (England and Wales)





ACCOUNTANTS: Oury Clark Chartered Accountants
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

DFT GROUP (UK) LTD (REGISTERED NUMBER: 13031149)

BALANCE SHEET
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,410 2,196
Tangible assets 5 446 -
1,856 2,196

CURRENT ASSETS
Stocks 68,530 72,835
Debtors 6 1,048,844 78,566
Cash at bank 231,853 50,601
1,349,227 202,002
CREDITORS
Amounts falling due within one year 7 1,286,810 161,978
NET CURRENT ASSETS 62,417 40,024
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,273

42,220

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 64,173 42,120
SHAREHOLDERS' FUNDS 64,273 42,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:



S J Daniels - Director


DFT GROUP (UK) LTD (REGISTERED NUMBER: 13031149)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Dft Group (Uk) Ltd 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. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any impairment losses.

Computer software is being amortised evenly over its estimated useful life of 3 years.

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS102.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

DFT GROUP (UK) LTD (REGISTERED NUMBER: 13031149)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022
and 28 February 2023 2,355
AMORTISATION
At 1 March 2022 159
Charge for year 786
At 28 February 2023 945
NET BOOK VALUE
At 28 February 2023 1,410
At 28 February 2022 2,196

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 561
At 28 February 2023 561
DEPRECIATION
Charge for year 115
At 28 February 2023 115
NET BOOK VALUE
At 28 February 2023 446

DFT GROUP (UK) LTD (REGISTERED NUMBER: 13031149)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 55,808 55,179
Other debtors 993,036 23,387
1,048,844 78,566

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 5,705 7,376
Taxation and social security 6,907 11,037
Other creditors & accruals 1,274,198 143,565
1,286,810 161,978

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
28.2.23 28.2.22
£    £   
Within one year - 12,800

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary shares £1 100 100

10. RELATED PARTY DISCLOSURES

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.

Within Other creditors, there are amounts owed to the director totalling £15,748 (2022: £22,731) at the year end. Interest of £376 (2022: £3,385) was charged in relation to this loan in the year and is included within this total.

Salvocorp (Pty) Ltd, a company incorporated in South Africa, is a related party by virtue of common control. As at the year end, Salvocorp (Pty) Ltd owed the company £37,252 (2022: nil) and Salvocorp (Pty) Ltd was owed £96,904 (2022:£87,248) by the company.

Industrial Paper Agencies (Pty) Ltd, a company incorporated in South Africa, is a related party by virtue of common control. As at the year end, Industrial Paper Agencies (Pty) Ltd was owed £170,803 (2022: £31,588) by the company.

VannPax (Pty) Ltd, a company incorporated in South Africa, is a related party by virtue of common control. As at the year end, VannPAx (Pty) Ltd owed the company £400 (2022: nil).