Company Registration No. 04491499 (England and Wales)
Data Standards Limited
Unaudited accounts
for the year ended 31 July 2024
Data Standards Limited
Unaudited accounts
Contents
Data Standards Limited
Company Information
for the year ended 31 July 2024
Directors
Nicholas Brownlow
Allan Kennedy
Lynne Kennedy
Serena Massey
Company Number
04491499 (England and Wales)
Registered Office
5 COMMERCIAL ROAD
SHEPTON MALLET
BA4 5BU
ENGLAND
Accountants
BMG Accountancy Services Ltd
5 Commercial Road
Shepton Mallet
Somerset
BA4 5BU
Data Standards Limited
Accountants' report
Accountants' report to the board of directors of Data Standards Limited (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 July 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 July 2024. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
BMG Accountancy Services Ltd
5 Commercial Road
Shepton Mallet
Somerset
BA4 5BU
7 August 2024
Data Standards Limited
Statement of financial position
as at 31 July 2024
Tangible assets
2,114
2,819
Cash at bank and in hand
50,712
10,156
Creditors: amounts falling due within one year
(38,328)
(26,256)
Net current assets
18,259
18,672
Called up share capital
100
100
Profit and loss account
20,273
21,391
Shareholders' funds
20,373
21,491
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by
Allan Kennedy
Director
Company Registration No. 04491499
Data Standards Limited
Notes to the Accounts
for the year ended 31 July 2024
Data Standards Limited is a private company, limited by shares, registered in England and Wales, registration number 04491499. The registered office is 5 COMMERCIAL ROAD, SHEPTON MALLET, BA4 5BU, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 July 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Data Standards Limited
Notes to the Accounts
for the year ended 31 July 2024
4
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Trade debtors
5,875
34,772
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
8,368
12,230
Taxes and social security
14,642
7,887
7
Average number of employees
During the year the average number of employees was 3 (2023: 4).