Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31true12022-01-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11765696 2022-01-01 2022-12-31 11765696 2021-01-01 2021-12-31 11765696 2022-12-31 11765696 2021-12-31 11765696 c:Director1 2022-01-01 2022-12-31 11765696 d:OfficeEquipment 2022-01-01 2022-12-31 11765696 d:OfficeEquipment 2022-12-31 11765696 d:OfficeEquipment 2021-12-31 11765696 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 11765696 d:ComputerEquipment 2022-01-01 2022-12-31 11765696 d:ComputerEquipment 2022-12-31 11765696 d:ComputerEquipment 2021-12-31 11765696 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 11765696 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 11765696 d:CurrentFinancialInstruments 2022-12-31 11765696 d:CurrentFinancialInstruments 2021-12-31 11765696 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11765696 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11765696 d:ShareCapital 2022-12-31 11765696 d:ShareCapital 2021-12-31 11765696 d:RetainedEarningsAccumulatedLosses 2022-12-31 11765696 d:RetainedEarningsAccumulatedLosses 2021-12-31 11765696 c:OrdinaryShareClass1 2022-01-01 2022-12-31 11765696 c:OrdinaryShareClass1 2022-12-31 11765696 c:OrdinaryShareClass1 2021-12-31 11765696 c:FRS102 2022-01-01 2022-12-31 11765696 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 11765696 c:FullAccounts 2022-01-01 2022-12-31 11765696 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11765696









DK R&D LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
DK R&D LIMITED
REGISTERED NUMBER: 11765696

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,295
1,258

  
1,295
1,258

Current assets
  

Debtors: amounts falling due within one year
 5 
461,978
218,535

Cash at bank and in hand
 6 
2,961
6,909

  
464,939
225,444

Creditors: amounts falling due within one year
 7 
(2,052,096)
(1,121,336)

Net current liabilities
  
 
 
(1,587,157)
 
 
(895,892)

Total assets less current liabilities
  
(1,585,862)
(894,634)

  

Net liabilities
  
(1,585,862)
(894,634)


Capital and reserves
  

Called up share capital 
 8 
180
180

Profit and loss account
  
(1,586,042)
(894,814)

  
(1,585,862)
(894,634)


Page 1

 
DK R&D LIMITED
REGISTERED NUMBER: 11765696
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D L Kreeger
Director

Date: 19 January 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
DK R&D LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

DK R&D Limited is a private company limited by shares, incorporated in England & Wales (Registered number 11765696). The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the Company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. The directors have obtained assurances from the shareholders to continue to provide adequate funds to meet its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
DK R&D LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
Straight line
Computer equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
DK R&D LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 1).


4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2022
130
4,545
4,675


Additions
-
618
618



At 31 December 2022

130
5,163
5,293



Depreciation


At 1 January 2022
61
3,356
3,417


Charge for the year on owned assets
43
538
581



At 31 December 2022

104
3,894
3,998



Net book value



At 31 December 2022
26
1,269
1,295



At 31 December 2021
69
1,189
1,258

Page 5

 
DK R&D LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Debtors

2022
2021
£
£


Other debtors
452,387
218,031

Prepayments and accrued income
9,591
504

461,978
218,535



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
2,961
6,909

2,961
6,909



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other loans
50,000
50,000

Trade creditors
-
3,500

Other taxation and social security
15,549
-

Other creditors
1,958,947
1,039,536

Accruals and deferred income
27,600
28,300

2,052,096
1,121,336



8.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



1,800,000 (2021 - 1,800,000) Ordinary shares of £0.0001 each
180
180


Page 6