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COMPANY REGISTRATION NUMBER: 10035587
Dotted Desks Limited
Filleted Unaudited Financial Statements
31 March 2023
Dotted Desks Limited
Financial Statements
Year ended 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Dotted Desks Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
578,609
642,792
Current assets
Debtors
6
916,440
1,636,413
Cash at bank and in hand
241,597
164,655
------------
------------
1,158,037
1,801,068
Creditors: amounts falling due within one year
7
1,548,319
2,087,191
------------
------------
Net current liabilities
390,282
286,123
---------
---------
Total assets less current liabilities
188,327
356,669
Creditors: amounts falling due after more than one year
8
179,167
278,333
---------
---------
Net assets
9,160
78,336
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
9,159
78,335
-------
--------
Shareholders funds
9,160
78,336
-------
--------
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 income and retained earnings has not been delivered.
For the year ending 31 March 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dotted Desks Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 19 April 2024 , and are signed on behalf of the board by:
R H Dallas
Director
Company registration number: 10035587
Dotted Desks Limited
Notes to the Financial Statements
Year ended 31 March 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 293-295 Old Street, London, EC1V 9LA, United Kingdom.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Leasehold improvements
-
10% reducing balance
Office and computer equipment
-
8% straight line
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.
Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it it becomes receivable.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Leasehold improvements
Office and computer equipment
Total
£
£
£
Cost
At 1 April 2022 and 31 March 2023
780,138
25,964
806,102
---------
--------
---------
Depreciation
At 1 April 2022
159,083
4,227
163,310
Charge for the year
62,106
2,077
64,183
---------
--------
---------
At 31 March 2023
221,189
6,304
227,493
---------
--------
---------
Carrying amount
At 31 March 2023
558,949
19,660
578,609
---------
--------
---------
At 31 March 2022
621,055
21,737
642,792
---------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
250,800
555,028
Other debtors
665,640
1,081,385
---------
------------
916,440
1,636,413
---------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
62,954
75,269
Corporation tax
19,770
19,770
Social security and other taxes
51,313
118,001
Other creditors
1,414,282
1,874,151
------------
------------
1,548,319
2,087,191
------------
------------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
179,167
228,334
Other creditors
49,999
---------
---------
179,167
278,333
---------
---------
9. Related party transactions
At the year end the company owed £68,824 (2022: £596,485) to a director.