0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-24 Sage Accounts Production Advanced 2023 - FRS102_2023 325,000 325,000 325,000 xbrli:pure xbrli:shares iso4217:GBP 14614434 2023-01-24 2023-07-03 14614434 2023-07-03 14614434 2023-01-23 14614434 bus:Director1 2023-01-24 2023-07-03 14614434 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-24 2023-07-03 14614434 core:WithinOneYear 2023-07-03 14614434 core:ShareCapital 2023-07-03 14614434 core:RetainedEarningsAccumulatedLosses 2023-07-03 14614434 core:PatentsTrademarksLicencesConcessionsSimilar 2023-07-03 14614434 bus:SmallEntities 2023-01-24 2023-07-03 14614434 bus:AuditExempt-NoAccountantsReport 2023-01-24 2023-07-03 14614434 bus:SmallCompaniesRegimeForAccounts 2023-01-24 2023-07-03 14614434 bus:PrivateLimitedCompanyLtd 2023-01-24 2023-07-03 14614434 bus:FullAccounts 2023-01-24 2023-07-03
COMPANY REGISTRATION NUMBER: 14614434
DV Master Ltd
Filleted Unaudited Financial Statements
3 July 2023
DV Master Ltd
Financial Statements
Period from 24 January 2023 to 3 July 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
DV Master Ltd
Statement of Financial Position
3 July 2023
3 Jul 23
Note
£
£
Fixed assets
Intangible assets
4
325,000
Current assets
Debtors
5
809,420
Cash at bank and in hand
26,026
---------
835,446
Creditors: amounts falling due within one year
6
1,170,761
------------
Net current liabilities
335,315
---------
Total assets less current liabilities
( 10,315)
--------
Net liabilities
( 10,315)
--------
Capital and reserves
Called up share capital
100
Profit and loss account
( 10,415)
--------
Shareholders deficit
( 10,315)
--------
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.
For the period ending 3 July 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 period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DV Master Ltd
Statement of Financial Position (continued)
3 July 2023
These financial statements were approved by the board of directors and authorised for issue on 10 July 2023 , and are signed on behalf of the board by:
Mr J. Cohen
Director
Company registration number: 14614434
DV Master Ltd
Notes to the Financial Statements
Period from 24 January 2023 to 3 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Victoria Warehouse, Trafford Wharf Road, Manchester, Greater Manchester, M17 1AB, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Intangible assets
Intellectual property
£
Cost
Additions
325,000
---------
At 3 July 2023
325,000
---------
Amortisation
At 24 January 2023 and 3 July 2023
---------
Carrying amount
At 3 July 2023
325,000
---------
5. Debtors
3 Jul 23
£
Other debtors
809,420
---------
6. Creditors: amounts falling due within one year
3 Jul 23
£
Trade creditors
131,001
Social security and other taxes
9,451
Other creditors
1,030,309
------------
1,170,761
------------
7. Controlling party
The company is a subsidiary of Festivals Master Limited, a company incorporated in the United Kingdom.