Registration number:
Davisnet Systems Ltd
for the Year Ended 31 December 2023
Davisnet Systems Ltd
(Registration number: 08875441)
Balance Sheet as at 31 December 2023
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2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.
.........................................
Director
Davisnet Systems Ltd
Notes to the Financial Statements for the Year Ended 31 December 2023
Accounting policies |
Statutory information
Davisnet Systems Ltd is a private company, limited by shares, domiciled in England and Wales, company number 08875441. The registered office is at Unit 6a Dannemora Drive, Sheffield, S9 5DF.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There has been no material depature from this standard.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. Income is recognised when services have been delivered to the customer such that risks and rewards of ownership have been transferred to them.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS 102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that 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 determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets as follows:
Davisnet Systems Ltd
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
1 |
Accounting policies (continued) |
Asset class |
Depreciation method and rate |
Plant and machinery |
25% straight line |
Office equipment |
25% straight line |
Motor vehicles |
25% straight line |
Financial instruments
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
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Disposals |
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( |
( |
At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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Eliminated on disposal |
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( |
( |
At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Davisnet Systems Ltd
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
Debtors |
2023 |
2022 |
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Trade debtors |
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Other debtors |
- |
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Prepayments |
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Creditors |
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
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Related party transactions |
During the year the directors had an interest free loan account with the company. At the balance sheet date the amount due to S W and R S Davis was £174 (2022: due from S W and R S Davis £14,234).