Company registration number 11138872 (England and Wales)
DATA SCIENCE CENTRAL UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
DATA SCIENCE CENTRAL UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
DATA SCIENCE CENTRAL UK LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
110,421
166,099
Current assets
Debtors
4
182,526
1,176,650
Cash at bank and in hand
1,965,904
702,736
2,148,430
1,879,386
Creditors: amounts falling due within one year
5
(2,258,850)
(2,045,484)
Net current liabilities
(110,420)
(166,098)
Net assets
1
1
Capital and reserves
Called up share capital
7
1
1
Total equity
1
1
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 August 2024 and are signed on its behalf by:
Mr S Adell
Director
Company registration number 11138872 (England and Wales)
DATA SCIENCE CENTRAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Data Science Central UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 25 Luke Street, 2nd Floor, London, EC2A 4DS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Despite the company having net current liabilities at the balance sheet date, atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In addition to this the ultimate parent company have confirmed their support for the company for at least 12 months from the date the financial statements are authorised. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
1 year straight line
Office equipment
3 years straight line
Fixtures and fittings
7 years straight line
Computers
3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
DATA SCIENCE CENTRAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
2023
2022
Number
Number
Employees
55
73
DATA SCIENCE CENTRAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Tangible fixed assets
Leasehold improvements
Office equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 January 2023
9,783
19,248
31,774
205,079
265,884
Additions
4,966
15,411
20,377
Disposals
(2,583)
(2,583)
At 31 December 2023
9,783
19,248
36,740
217,907
283,678
Depreciation and impairment
At 1 January 2023
9,783
5,471
3,895
80,636
99,785
Depreciation charged in the year
6,416
5,096
61,960
73,472
At 31 December 2023
9,783
11,887
8,991
142,596
173,257
Carrying amount
At 31 December 2023
7,361
27,749
75,311
110,421
At 31 December 2022
13,777
27,879
124,443
166,099
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
987,981
Other debtors
101,002
77,024
Prepayments and accrued income
81,524
111,645
182,526
1,176,650
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
974
75,218
Amounts owed to group undertakings
1,690,559
1,248,602
Taxation and social security
220,656
259,482
Other creditors
55,888
39,314
Accruals and deferred income
290,773
422,868
2,258,850
2,045,484
DATA SCIENCE CENTRAL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Demsey Slater FCCA
Statutory Auditor:
Ellacotts Audit Services Limited
Date of audit report:
30 August 2024
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of 1p each
1
1
1
1
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
471,962
409,500
9
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS102 Section 1A.
10
Parent company
The parent company was Datacamp Inc, a company incorporated in the United States of America. The registered office of Datacamp Inc is 350 Fifth Avenue, Suite #7720, New York, NY 10118, USA.