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Registered number: 09419521









DUNDEE HILLS GROUP LIMITED (FORMERLY 202 COMMUNICATIONS LTD.)







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
DUNDEE HILLS GROUP LIMITED (FORMERLY 202 COMMUNICATIONS LTD.)
REGISTERED NUMBER: 09419521

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

31 December
31 March
2023
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,512
1,278

  
1,512
1,278

Current assets
  

Debtors: amounts falling due within one year
 5 
45,836
57,537

Cash at bank and in hand
 6 
63,577
136,573

  
109,413
194,110

Creditors: amounts falling due within one year
 7 
(14,168)
(35,264)

Net current assets
  
 
 
95,245
 
 
158,846

Total assets less current liabilities
  
96,757
160,124

Provisions for liabilities
  

Deferred tax
 8 
(287)
(319)

  
 
 
(287)
 
 
(319)

Net assets
  
96,470
159,805


Capital and reserves
  

Called up share capital 
  
1
1

Share premium account
  
41,254
41,254

Profit and loss account
  
55,215
118,550

  
96,470
159,805


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
 
Page 1

 
DUNDEE HILLS GROUP LIMITED (FORMERLY 202 COMMUNICATIONS LTD.)
REGISTERED NUMBER: 09419521
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2024.




C J Lesieutre
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
DUNDEE HILLS GROUP LIMITED (FORMERLY 202 COMMUNICATIONS LTD.)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Dundee Hills Group Limited (Formerly 202 Communications Ltd.) is a private company limited by shares and incorporated in England and Wales. Its registered office is 30 Orange Street, London, WC2H 7HF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
DUNDEE HILLS GROUP LIMITED (FORMERLY 202 COMMUNICATIONS LTD.)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
DUNDEE HILLS GROUP LIMITED (FORMERLY 202 COMMUNICATIONS LTD.)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.9

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.10

Creditors

Short-term creditors are measured at the transaction price. 

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
DUNDEE HILLS GROUP LIMITED (FORMERLY 202 COMMUNICATIONS LTD.)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

3.


Employees

9 months ended
31 December
31 March
2023
2023
£
£

Wages and salaries
179,933
137,650

Social security costs
19,422
22,017

Cost of defined contribution scheme
3,790
4,869

203,145
164,536


The average monthly number of employees, including the director, during the period was as follows:


     31 December
        31 March
        2023
        2023
            No.
            No.







Directors
2
2

Page 6

 
DUNDEE HILLS GROUP LIMITED (FORMERLY 202 COMMUNICATIONS LTD.)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Tangible fixed assets







Computer equipment

£



Cost or valuation


At 1 April 2023
3,411


Additions
1,136



At 31 December 2023

4,547



Depreciation


At 1 April 2023
2,133


Charge for the period on owned assets
902



At 31 December 2023

3,035



Net book value



At 31 December 2023
1,512



At 31 March 2023
1,278


5.


Debtors

31 December
31 March
2023
2023
£
£


Trade debtors
45,038
53,928

Other debtors
115
1,598

Amounts owed by parent company
683
2,011

45,836
57,537


Page 7

 
DUNDEE HILLS GROUP LIMITED (FORMERLY 202 COMMUNICATIONS LTD.)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Cash

31 December
31 March
2023
2023
£
£

Cash at bank
63,577
136,573

63,577
136,573



7.


Creditors: Amounts falling due within one year

31 December
31 March
2023
2023
£
£

Trade creditors
5,608
668

Amounts owed to fellow subsidiary
-
17,735

Corporation tax
2,620
13,105

Other creditors
1,690
756

Accruals
4,250
3,000

14,168
35,264



8.


Deferred taxation






2023


£






At beginning of year
(319)


Charged to profit or loss
32



At end of year
(287)

Page 8

 
DUNDEE HILLS GROUP LIMITED (FORMERLY 202 COMMUNICATIONS LTD.)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

31 December
31 March
2023
2023
£
£


Accelerated capital allowances
(287)
(319)

(287)
(319)


9.


Related party transactions

During the period the holding company, Dundee Hills Group (USA) made service charges to the Company of £137,007 (March 2023 - £174,682). On 31st March 2023 the balance owed to the Company was £nil (March 2023 - £2,011), all charges are recorded on an arms-length basis. 
At the period end, the company owed Wall Street Communications, a fellow subsidiary £nil (March 2023 - £17,735)


10.


Controlling party

The Company's controlling party is Dundee Hills Group in the USA that owns 100% of the ordinary share capital.

 
Page 9