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Registered number: 07144496














DOCKSPOT UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 DECEMBER 2023

 
DOCKSPOT UK LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 8


 
DOCKSPOT UK LIMITED
REGISTERED NUMBER:07144496

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
826,148
371,357

Current assets
  

Debtors: amounts falling due within one year
 6 
6,392
8,365

Bank and cash balances
  
104,822
96,797

  
111,214
105,162

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(1,850,048)
(1,107,377)

Net current liabilities
  
 
 
(1,738,834)
 
 
(1,002,215)

Total assets less current liabilities
  
(912,686)
(630,858)

  

Net liabilities
  
(912,686)
(630,858)


Capital and reserves
  

Called up share capital 
 8 
2
2

Share premium account
  
301,786
301,786

Profit and loss account
  
(1,214,474)
(932,646)

  
(912,686)
(630,858)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 October 2024.




D F Barthold
Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
DOCKSPOT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Dockspot UK Limited is a limited liability company registered in England and Wales. Its registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD.
The principal activity of the Company during the year was that of taking online bookings of berths and marina management.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company made a loss for the year and at the balance sheet date has net current liabilities and net liabilities. The Directors have obtained assurance from the shareholders that funds will be made available to the Company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have been prepared under going concern on this basis. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ sterling.

Transactions and balances

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. Non-monetary 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 Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
DOCKSPOT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is measured at the fair value of amounts receivable in respect of services provided in the year, net of trade discounts and excluding Value Added Tax. Revenue from services is recognised when all contractual obligations have been met.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates 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 in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 3

 
DOCKSPOT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).

Page 4

 
DOCKSPOT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Web platform

£



Cost


At 1 January 2023
405,728


Additions
628,155



At 31 December 2023

1,033,883



Amortisation


At 1 January 2023
34,371


Charge for the year on owned assets
173,364



At 31 December 2023

207,735



Net book value



At 31 December 2023
826,148



At 31 December 2022
371,357



Page 5

 
DOCKSPOT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
1,691



At 31 December 2023

1,691



Depreciation


At 1 January 2023
1,691



At 31 December 2023

1,691



Net book value



At 31 December 2023
-



At 31 December 2022
-

Page 6

 
DOCKSPOT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Other debtors
2,333
4,316

Prepayments and accrued income
4,059
4,049

6,392
8,365



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
39,504
30,446

Amounts owed to group undertakings
1,727,419
992,230

Other taxation and social security
6,747
11,832

Other creditors
8,875
257

Accruals and deferred income
67,503
72,612

1,850,048
1,107,377



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,937 (2022 - 1,937) Ordinary shares of £0.0010 each
2
2



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £12,931 (2022: £23,603). Contributions totaling £257 (2022: £257) were payable to the fund at the reporting date and are included in creditors.


10.


Controlling party

The ultimate controlling party is SHM Dockspot LLC, a company registered in Delaware. Its registered office address is at PO Box 75254, Suite 975, 14785 Preston Road, Dallas, Texas, United States.

Page 7

 
DOCKSPOT UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 2 October 2024 by Sean Brennan FCCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 8