65 13 August 2024 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 09511847 2023-01-01 2023-12-31 09511847 2023-12-31 09511847 2022-12-31 09511847 2022-01-01 2022-12-31 09511847 2022-12-31 09511847 2021-12-31 09511847 bus:Director4 2023-01-01 2023-12-31 09511847 bus:Director1 2023-01-01 2023-12-31 09511847 bus:Director2 2023-01-01 2023-12-31 09511847 core:WithinOneYear 2023-12-31 09511847 core:WithinOneYear 2022-12-31 09511847 core:AfterOneYear 2023-12-31 09511847 core:AfterOneYear 2022-12-31 09511847 core:ShareCapital 2023-12-31 09511847 core:ShareCapital 2022-12-31 09511847 core:RetainedEarningsAccumulatedLosses 2023-12-31 09511847 core:RetainedEarningsAccumulatedLosses 2022-12-31 09511847 core:BetweenOneFiveYears 2023-12-31 09511847 core:BetweenOneFiveYears 2022-12-31 09511847 core:MoreThanFiveYears 2022-12-31 09511847 bus:Director1 2021-12-31 09511847 bus:Director2 2021-12-31 09511847 bus:Director1 2022-01-01 2022-12-31 09511847 bus:Director2 2022-01-01 2022-12-31 09511847 bus:SmallEntities 2023-01-01 2023-12-31 09511847 bus:Audited 2023-01-01 2023-12-31 09511847 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09511847 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09511847 bus:AbridgedAccounts 2023-01-01 2023-12-31 09511847 core:LandBuildings core:ShortLeaseholdAssets 2023-01-01 2023-12-31 09511847 core:PlantMachinery 2023-01-01 2023-12-31 09511847 core:FurnitureFittings 2023-01-01 2023-12-31 09511847 core:OfficeEquipment 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 09511847
Dialect Limited
Filleted Abridged Financial Statements
31 December 2023
Dialect Limited
Abridged Financial Statements
Year ended 31 December 2023
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Dialect Limited
Abridged Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
102,130
157,189
Current assets
Debtors
489,246
186,337
Cash at bank and in hand
134,601
652,642
---------
---------
623,847
838,979
Creditors: amounts falling due within one year
409,163
683,104
---------
---------
Net current assets
214,684
155,875
---------
---------
Total assets less current liabilities
316,814
313,064
Creditors: amounts falling due after more than one year
19,068
29,065
Provisions
17,537
35,675
---------
---------
Net assets
280,209
248,324
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
280,109
248,224
---------
---------
Shareholders funds
280,209
248,324
---------
---------
These abridged 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Dialect Limited
Abridged Statement of Financial Position (continued)
31 December 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 13 August 2024 , and are signed on behalf of the board by:
Mr D Boddington
Director
Company registration number: 09511847
Dialect Limited
Notes to the Abridged Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The company's registration number is 09511847 . is The address of the registered office is 11 Seven Dials, Sawclose, Bath, BA1 1EN.
2. Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Short leasehold property
-
7 years
Plant and machinery
-
4 years
Fixtures and fittings
-
4 years
Equipment
-
3 years
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. 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 becomes receivable.
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 abridged 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 as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
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 as a finance cost 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 65 (2022: 65 ).
5. Tangible assets
£
Cost
At 1 January 2023
299,534
Additions
8,167
Disposals
( 167)
---------
At 31 December 2023
307,534
---------
Depreciation
At 1 January 2023
142,345
Charge for the year
63,119
Disposals
( 60)
---------
At 31 December 2023
205,404
---------
Carrying amount
At 31 December 2023
102,130
---------
At 31 December 2022
157,189
---------
6. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
181,526
121,017
Later than 1 year and not later than 5 years
599,284
726,104
Later than 5 years
54,707
---------
---------
780,810
901,828
---------
---------
7. Summary audit opinion
The auditor's report dated 13 August 2024 was unqualified .
The senior statutory auditor was Mrs Caroline Jay , for and on behalf of Jay & Jay Partnership Limited .
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr J M Gower
Mr D P Maher Roberts
----
----
----
----
----
----
2022
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr J M Gower
374
( 374)
Mr D P Maher Roberts
( 48)
48
----
----
----
326
( 326)
----
----
----
The directors' loans are interest free and repayable on demand.
9. Controlling party
The company's ultimate parent undertaking is Dialect Inc whose registered office address is 533 Airport Blvd, Ste 400, Burlingame, CA 94010, USA.