DOT COMPLIANCE UK LIMITED
Directors: D. Sitbon
Registered office: 30 Old Bailey
London
EC4M 7AU
Registered no: 14642012 (England & Wales)
Accountants: Shahmoon & Co.
Chartered accountants
6.12 Central House
1 Ballards Lane
London N3 1LQ
Financial statements
For the period from 6 February to 31 December 2023
In Pound Sterling
page
Statement of financial position 1
Notes to the financial statements 2-5
DOT COMPLIANCE UK LIMITED
Statement of financial position as at 31 December 2023
31.12.2023
Notes £ £
Fixed assets
Fixed assets 5 3,028
Current assets
Debtors 6 216,772
Cash at bank and in hand 303,262
520,034
Creditors: amounts falling due
within one year 7 (593,119)
Net current liabilities (73,085)
Total current liabilities less assets (70,057)
Net liabilities £ (70,057)
Capital and Deficit
£
Called up share Capital 8 1
Profit and loss account (70,058)
Shareholders' fund £ (70,057)
The accounts have been prepared and delivered in accordance with special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
__________________________
D. Sitbon
Director
24 September 2024
Company number: 14642012
DOT COMPLIANCE UK LIMITED
Notes to the financial statements - 31 December 2023
COMPANY INFORMATION
1. Company Information
DOT Compliance UK Limited is a private limited company incorporated on 06.02.2023 and domiciled in England and Wales. The address of its registered office is 30 Old Bailey, London, United Kingdom, EC4M 7AU.
2. Statement of Compliance
The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A small entities and the Companies Act 2006.
3. Accounting Policies
Basis of accounting
The financial statements have been prepared on a going concern basis, under historical cost convention.
The financial statements are presented in sterling (£).
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
During 2023 the company made a loss and had a net deficit. However, the company is expected to be profitable during 2024 and onwards.
The Director considers that the Company has adequate resources to continue in operational existence for the foreseeable future with guaranteed financial support from the parent company.
Based on the above, the director believes that the financial statements can be prepared on a going concern basis.
Cash flow
The company has a small entity has taken advantage not to prepare a cash flow
statement under FRS102 Section 1A Small Entities.
Turnover and revenue recognition
Turnover is the amount derived from ordinary activities and represents net invoiced
value of software and related services excluding VAT.
Revenue from software licences agreements are recognized upon the delivery of the
software when collections are probable; the licence fees is otherwise fixed or determinable:
no significant obligation with regard to implementation remains; and persuasive evidence
that an arrangement exists.
Revenues from maintenance arrangements are deferred and recognized on a straight-line
basis over the life of the related agreement.
DOT COMPLIANCE UK LIMITED
Notes to the financial statements - 31 December 2023
Basic 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 non-puttable ordinary shares.
Deferred taxation
Deferred taxation is provided to take into account timing differences arising from the inclusion of items of expenditure in taxation computations in periods that differ from those in which they are included in the financial statements to the extent that it is probable that a liability or assets will crystallize in the future.
Provision for deferred taxation is set off against debit balance of deferred taxation.
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into Sterling at the rate of
exchange ruling at the Balance Sheet date.
Non monetary items are translated into sterling at the actual rate ruling on the date of the transaction.
Foreign currency transactions relating to income and expenditure are translated into sterling at the
rate of exchange ruling on the date of the transaction.
Exchange rate differences are recognised in profit or loss in the period which they arise.
Employee benefits
The company provides a range of benefits to employees, including annual bonus arrangements,
paid holiday arrangements and defined contribution pension plans.
(i) Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits are
recognised as an expense in the period in which the service is received.
(ii) Defined contribution pension plans
The company operated 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 when they are due. Amounts not paid are shown in
accruals in the balance sheet. The assets of the plan are held separately from the company in
independently administered funds.
(iii) Bonus plan
The company operates annual bonus plan for employees and expense is recognised in the profit
and loss account when the company has a legal or constructive obligation to make payment under
the plan as a result of passed events and reliable estimation of the obligation can be made.
(iv) Share based payments
The company participates in a share-based payment arrangement established by the ultimate parent company. The company recognises the share-based payment expenses based on the specific cost that is relating to the company participating employees. The corresponding credit is recognised as a component of equity.
4. Employee information
6.2.23-31.12.23
The average number of employees during the year was 1
No remunerations paid to the director during the above year.
DOT COMPLIANCE UK LIMITED
Notes to the financial statements - 31 December 2023
5. Fixed assets
Computers,
fixtures
& fittings Total
£ £
Cost:
Additions 3,146 3,146
At 31 December 2023 3,146 3,146
Depreciation:
Charge for the year 118 118
At 31 December 2023 118 118
Net book value:
At 31 December 2023 3,028 3,028
6. Debtors
31.12.2023
£
Trade debtors 92,911
Prepayments and accrued income 123,861
216,772
7. Creditors: amounts falling due
within one year
31.12.2023
£
Trade creditors 689
Taxes and social security costs 54,188
VAT 747
Other creditors 25,967
Amounts owed to parent company 147,764
Accruals and deferred income 363,764
593,119
DOT COMPLIANCE UK LIMITED
Notes to the financial statements - 31 December 2023
8. Share Capital
31.12.2023
£
Allotted, called up and fully paid:
1 Ordinary shares of £1 each 1
9. Financial commitment
As at 31.12.23 the company did not have any financial commitments.
10. Audit report information
As the income statement has been omitted from the filing 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. We would like to draw your attention to the following statement: contained with our audit report as included in the full financial statements:
EMPHASIS OF MATTER
In forming our opinion on the financial statements which is not modified, we draw your attention to the director's view and consideration on the going concern basis of preparation as disclosed in note 3 of the financial statements. During 2023 the company made a loss and had a net deficit. However, the company is expected to be profitable during 2024 and onwards. The Director considers that the Company has adequate resources to continue in operational existence for the foreseeable future with guaranteed financial support from the parent company. Based on the above, the director believes that the financial statements can be prepared on a going concern basis.
The senior statutory auditor was Mr. Ran Shahmoon.
The auditor was Shahmoon & Co.
Date auditor signed accounts: 24 September 2024
Name of director signing accounts: D. Sitbon
Date director signed accounts: 24 September 2024
11. Related party transactions:
Control:
The Company's ultimate parent undertaking and controlling party is Dot Compliance Ltd a foreign company incorporated and registered in Israel whose address is 2 Openhaimer Rehovot Israel
Transaction:
The company is exempt from disclosing transactions with related parties that are wholly owned within the same group in accordance with FRS 102 Section 33(1)A.
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