REGISTERED NUMBER: |
DTS.SOLUTIONS (U.K) LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
REGISTERED NUMBER: |
DTS.SOLUTIONS (U.K) LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DTS.SOLUTIONS (U.K) LIMITED (REGISTERED NUMBER: 02278562) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 5 |
DTS.SOLUTIONS (U.K) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
2 London Wall Place |
London |
EC2Y 5AU |
DTS.SOLUTIONS (U.K) LIMITED (REGISTERED NUMBER: 02278562) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DTS.SOLUTIONS (U.K) LIMITED (REGISTERED NUMBER: 02278562) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
DTS.Solutions (U.K) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 £1. |
The financial statements are for the year to 31 December 2023. The prior period was 1 February 2022 to 31 December 2022, an eleven month period, and thus not entirely comparable. |
Turnover |
Turnover represents net invoiced hire and sale of goods, excluding value added tax. Sales are recognised when the sales invoice is raised by the company. Hire sales are recognised when the hire agreement is agreed with the customer. Each period of hire is invoiced separately on a monthly basis. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset on a straight line basis over its estimated useful life. |
Plant and machinery | - at varying rates on cost |
Fixtures and fittings | - at varying rates on cost |
Motor vehicles | - at varying rates on cost |
Stocks |
Stock is valued at the lower of historical cost and net realisable value after making due allowances for slow moving and obsolete items. Net realisable value is calculated as being the amount that could realistically be obtained in an arms length third party sale. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
DTS.SOLUTIONS (U.K) LIMITED (REGISTERED NUMBER: 02278562) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security and other taxes |
VAT | 64,209 | 98,153 |
Accrued expenses |
DTS.SOLUTIONS (U.K) LIMITED (REGISTERED NUMBER: 02278562) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 113,673 | 62,604 |
Deferred |
tax |
£ |
Balance at 1 January 2023 |
Provided during year |
Balance at 31 December 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 11,000 | 11,000 |
9. | AUDITORS’ INFORMATION |
The auditors' report on the financial statements for the year ended 31 December 2022 was unqualified. |
The audit report was signed on 8th August 2023 by on behalf of MHA, Statutory Auditor. MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313). |
10. | OTHER FINANCIAL COMMITMENTS |
At the balance sheet date the company had £160,409 (2022: £226,676) in outstanding commitments for future minimum lease payments under non-cancellable operating leases. |
11. | RELATED PARTY DISCLOSURES |
The company has not disclosed its related party transactions as they are all with other companies that are wholly owned within the group. |
12. | PARENT ENTITY AND ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary of CSE Crosscom UK Limited, a company registered in England and Wales with a registered office of No 1, St Paul's Square, Liverpool, Merseyside, United Kingdom. L3 9SG. |
The ultimate holding company is CSE Global Limited, an international technology group registered in Singapore and listed on the Singapore Stock Exchange. |