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Company registration number: 07778617
DCN Communications Ltd
Unaudited filleted financial statements
30 September 2023
DCN Communications Ltd
Contents
Director's report
Statement of financial position
Notes to the financial statements
DCN Communications Ltd
Director's report
Year ended 30th September 2023
The director presents his report and the unaudited financial statements of the company for the year ended 30th September 2023.
Director
The director who served the company during the year was as follows:
Mr R S Perry
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 17 January 2024 and signed on behalf of the board by:
Mr R S Perry
Director
DCN Communications Ltd
Statement of financial position
30th September 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 51,604 38,888
_______ _______
51,604 38,888
Current assets
Stocks 2,450 2,000
Debtors 6 234,698 330,284
Cash at bank and in hand 1,492,675 1,000,402
_______ _______
1,729,823 1,332,686
Creditors: amounts falling due
within one year 7 ( 300,114) ( 284,277)
_______ _______
Net current assets 1,429,709 1,048,409
_______ _______
Total assets less current liabilities 1,481,313 1,087,297
Provisions for liabilities ( 12,901) ( 9,722)
_______ _______
Net assets 1,468,412 1,077,575
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 1,468,402 1,077,565
_______ _______
Shareholders funds 1,468,412 1,077,575
_______ _______
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 January 2024 , and are signed on behalf of the board by:
Mr R S Perry
Director
Company registration number: 07778617
DCN Communications Ltd
Notes to the financial statements
Year ended 30th September 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 3 West Street, Leighton Buzzard, Beds, LU7 1DA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2022: 10 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1st October 2022 8,424 71,179 79,603
Additions 644 23,315 23,959
_______ _______ _______
At 30th September 2023 9,068 94,494 103,562
_______ _______ _______
Depreciation
At 1st October 2022 7,123 33,593 40,716
Charge for the year 1,028 10,214 11,242
_______ _______ _______
At 30th September 2023 8,151 43,807 51,958
_______ _______ _______
Carrying amount
At 30th September 2023 917 50,687 51,604
_______ _______ _______
At 30th September 2022 1,301 37,586 38,887
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 210,157 256,698
Other debtors 24,541 73,586
_______ _______
234,698 330,284
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 35,041 96,973
Social security and other taxes 183,912 128,378
Other creditors 81,161 58,926
_______ _______
300,114 284,277
_______ _______