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DAPV Limited
Registered Number:08087671
For the year ended 31 May 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 May 2024
DAPV Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
08087671
As at 31 May 2024
DAPV Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Intangible assets
6,604,286
5,695,530
2
Property, plant and equipment
37,228
52,408
3
6,641,514
5,747,938
Current assets
Inventories
818,676
749,422
4
Trade and other receivables
436,150
383,223
5
215,197
Cash and cash equivalents
7,468
1,140,113
1,470,023
Trade and other payables: amounts falling due within one
year
(2,242,588)
(2,679,952)
6
(772,565)
(1,539,839)
Net current liabilities
Total assets less current liabilities
5,101,675
4,975,373
Trade and other payables: amounts falling due after more
than one year
(2,609,301)
(3,152,875)
7
1,948,800
Net assets
2,366,072
Capital and reserves
Called up share capital
973
963
Share premium account
2,842,298
2,672,309
Revaluation reserve
3,463,764
3,463,764
Retained earnings
(4,358,235)
(3,770,964)
1,948,800
2,366,072
Shareholders' funds
For the year ended 31 May 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 of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
08087671
For the year ended 31 May 2024
DAPV Limited
Statement of Financial Position Continued
Dominic Portman Director
These financial statements were approved and authorised for issue by the Board on 10 July 2024 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 May 2024
DAPV Limited
Notes to the Financial Statements
Statutory Information
DAPV Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
08087671.
Registered address:
Suite1, 2nd Floor Marmion House
Copenhagen Street
Worcester
Worcestershire
WR1 2HB
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets ( including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. This represents development costs incurred on a fully bespoke software paltform and has been recognised in accordance with IAS 38 Intangible Asset and is carried at its fair value at the balance sheet date. The system will be amortised over its estimated useful life of 10 years after it becomes fully operative.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
33.33 Reducing balance
Computer equipment
25 Reducing balance
Motor vehicles
25.00 Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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6
For the year ended 31 May 2024
DAPV Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Research &
Development
Cost or valuation
£
At 01 June 2023
5,695,530
Additions
908,756
At 31 May 2024
6,604,286
3. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Motor vehicles
£
£
£
£
Cost or
valuation
At 01 June 2023
137,500
30,791
104,313
2,396
(6,134)
-
-
Disposals
(6,134)
At 31 May 2024
2,396
104,313
24,657
131,366
Provision for depreciation and impairment
At 01 June 2023
85,092
17,478
67,015
599
Charge for year
11,730
1,807
9,324
599
(2,684)
(2,684)
-
-
On disposal
At 31 May 2024
94,138
16,601
76,339
1,198
At 31 May 2024
Net book value
1,198
27,974
8,056
37,228
At 31 May 2023
1,797
37,298
13,313
52,408
4. Inventories
2023
2024
£
£
Stocks
749,422
818,676
Stock is valued at the lower of cost and net realisable value.
5. Trade and other receivables
2023
2024
£
£
Other debtors
383,223
436,150
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7
For the year ended 31 May 2024
DAPV Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
776,063
984,045
Trade creditors
1,395,617
860,452
Taxation and social security
37,671
142,086
Other creditors
470,601
256,005
2,679,952
2,242,588
7. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
3,152,875
2,609,301
8. Average number of persons employed
During the year the average number of employees was 44 (2023 : 160)
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