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DUNE WORLDWIDE LIMITED

Registered Number
07798721
(England and Wales)

Unaudited Financial Statements for the Period ended
29 December 2023

DUNE WORLDWIDE LIMITED
Company Information
for the period from 31 December 2022 to 29 December 2023

Director

Mr S Blake

Registered Address

3 Coldbath Square
London
EC1R 5HL

Registered Number

07798721 (England and Wales)
DUNE WORLDWIDE LIMITED
Balance Sheet as at
29 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investments3319,298319,298
319,298319,298
Current assets
Debtors430,29330,293
30,29330,293
Creditors amounts falling due within one year5(359,754)(359,754)
Net current assets (liabilities)(329,461)(329,461)
Total assets less current liabilities(10,163)(10,163)
Net assets(10,163)(10,163)
Capital and reserves
Called up share capital100100
Profit and loss account(10,263)(10,263)
Shareholders' funds(10,163)(10,163)
The financial statements were approved and authorised for issue by the Director on 23 September 2024, and are signed on its behalf by:
Mr S Blake
Director
Registered Company No. 07798721
DUNE WORLDWIDE LIMITED
Notes to the Financial Statements
for the period ended 29 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The financial statements report the financial results only of the company and are presented in Sterling (£).
Statement of compliance
The financial statements have been prepared in compliance with Section 1A of Financial Reporting Standard 102 and Companies Act 2006 as these apply to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The director considers this basis to be appropriate as the company has sufficient facilities available from its shareholder to fund its working capital requirement for a period of at least twelve months for the date these financial statements were approved.
Revenue from 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.
Foreign currency translation
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. Nonmonetary 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. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial assets, including trade and other debtors, and cash and bank balances, are initially recognised at transaction price, 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 for a similar debt instrument. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies, 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 for a similar debt instrument. Debt instruments are subsequently carried at amortised cost, using the effective interest method. Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment. If evidence of impairment is found, an impairment loss is recognised in the profit and loss account. Financial assets are derecognised when (i) the contractual rights to the cashflows from the asset expire or are settled, or (ii) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (iii) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.Average number of employees
The average number of employees include directors.

20232022
Average number of employees during the year11
3.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 31 December 22319,298319,298
At 29 December 23319,298319,298
Net book value
At 29 December 23319,298319,298
At 30 December 22319,298319,298

Notes

1Investments in group undertakings and participating interests
4.Debtors: amounts due within one year

2023

2022

££
Other debtors30,29330,293
Total30,29330,293
5.Creditors: amounts due within one year

2023

2022

££
Other creditors359,754359,754
Total359,754359,754
6.Contingent liabilities
Delma Exchange (see Note 3) is currently solvent, the balance sheet showing net assets of £2,232,219 (2022: £3,914,444) as at 31 December 2023. The partners of Delma Exchange have committed to fund the working capital of the business while it establishes itself in the market. As a partner, Dune Worldwide Limited has undertaken to support Delma Exchange for the foreseeable future and fund its share of the working capital requirements. Currently the scale of working capital requirements cannot be reasonably determined.
7.Related party transactions
As at the balance sheet date the company owed the director of the company a total of £353,428 (2022: £353,428).