2022-06-012023-05-312023-05-31false06244058Domo Group 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Domo Group Ltd

Registered Number
06244058
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

Domo Group Ltd
Company Information
for the year from 1 June 2022 to 31 May 2023

Director

O Culverhouse

Registered Address

3 Unity Street
2nd Floor Arclight House
Bristol
BS1 5HH

Registered Number

06244058 (England and Wales)
Domo Group Ltd
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets61,7792,294
Tangible assets797,35598,872
99,134101,166
Current assets
Debtors8204,953176,176
Cash at bank and on hand239,49624,339
444,449200,515
Creditors amounts falling due within one year9(177,079)(158,837)
Net current assets (liabilities)267,37041,678
Total assets less current liabilities366,504142,844
Creditors amounts falling due after one year10(214,308)(46,198)
Net assets152,19696,646
Capital and reserves
Called up share capital1,0001,000
Profit and loss account151,19695,646
Shareholders' funds152,19696,646
The financial statements were approved and authorised for issue by the Director on 8 February 2024, and are signed on its behalf by:
O Culverhouse
Director
Registered Company No. 06244058
Domo Group Ltd
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company continued to be that of information technology consultancy services.
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Intangible assets policy
Separately acquired trademarks and licences are shown at historical cost. Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date. Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year4133
6.Intangible assets

Other

Total

££
Cost or valuation
At 01 June 225,3495,349
At 31 May 235,3495,349
Amortisation and impairment
At 01 June 223,0553,055
Charge for year515515
At 31 May 233,5703,570
Net book value
At 31 May 231,7791,779
At 31 May 222,2942,294
7.Property, plant and equipment

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 June 2236,004-129,894165,898
Additions--27,92727,927
At 31 May 2336,004-157,821193,825
Depreciation and impairment
At 01 June 22--67,02667,026
Charge for year3,60025,844-29,444
At 31 May 233,60025,84467,02696,470
Net book value
At 31 May 2332,404(25,844)90,79597,355
At 31 May 2236,004-62,86898,872
8.Debtors

2023

2022

££
Trade debtors / trade receivables8,750-
Amounts owed by group undertakings47,67449,404
Other debtors122,708110,064
Prepayments and accrued income25,82116,708
Total204,953176,176
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables28,9638,123
Taxation and social security133,945143,280
Other creditors9,5717,434
Accrued liabilities and deferred income4,600-
Total177,079158,837
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts214,30846,198
Total214,30846,198