DP (LONDON) LIMITED

Company Registration Number:
12299327 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

DP (LONDON) LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

DP (LONDON) LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 29,075 59,512
Tangible assets: 4 7,088 9,768
Total fixed assets: 36,163 69,280
Current assets
Debtors:   406,855 368,481
Cash at bank and in hand: 144,463 316,891
Total current assets: 551,318 685,372
Creditors: amounts falling due within one year:   (485,962) (615,009)
Net current assets (liabilities): 65,356 70,363
Total assets less current liabilities: 101,519 139,643
Creditors: amounts falling due after more than one year:   (33,226) (53,018)
Provision for liabilities: (1,772) (1,800)
Total net assets (liabilities): 66,521 84,825
Capital and reserves
Called up share capital: 200 195
Profit and loss account: 66,321 84,630
Shareholders funds: 66,521 84,825

The notes form part of these financial statements

DP (LONDON) LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 September 2024
and signed on behalf of the board by:

Name: Mr J P Wade
Status: Director

The notes form part of these financial statements

DP (LONDON) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for services and is shown net of VAT.

Tangible fixed assets and depreciation policy

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: Fixtures, fittings and equipment 25% straight line Computer equipment 33.33% 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 the profit and loss account.

Intangible fixed assets and amortisation policy

Intangible fixed assets - goodwill Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years. Intangible fixed assets other than goodwill Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at fair value. Intangible assets represent money paid for crypto currencies. No amortisation has been provided on intangible assets as the directors are of the opinion that a departure from the standard is required to show a true and fair view.

Other accounting policies

Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. 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 and bank loans, 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. Taxation The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DP (LONDON) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 20 16

DP (LONDON) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible Assets

Total
Cost £
At 01 January 2023 153,359
At 31 December 2023 153,359
Amortisation
At 01 January 2023 93,847
Charge for year 30,437
At 31 December 2023 124,284
Net book value
At 31 December 2023 29,075
At 31 December 2022 59,512

DP (LONDON) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible Assets

Total
Cost £
At 01 January 2023 26,030
Additions 4,607
At 31 December 2023 30,637
Depreciation
At 01 January 2023 16,262
Charge for year 7,287
At 31 December 2023 23,549
Net book value
At 31 December 2023 7,088
At 31 December 2022 9,768

DP (LONDON) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Related party transactions

Name of the related party:
Relationship:
Directors
Description of the Transaction: At the balance sheet date, £32,345 (2022: £63,837) was owed to the directors of the company. The unsecured loans are provided free of any interest charge and without any repayment terms.
£
Balance at 01 January 2023 63,837
Balance at 31 December 2023 32,345