DATAPHILES LIMITED

Company Registration Number:
04599161 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

DATAPHILES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Additional notes
Balance sheet notes

DATAPHILES LIMITED

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets: 3 958,405 833,461
Tangible assets: 4 37,788 47,066
Investments: 5 0 200
Total fixed assets: 996,193 880,727
Current assets
Debtors: 6 361,489 377,826
Cash at bank and in hand: 100,065 71,878
Total current assets: 461,554 449,704
Creditors: amounts falling due within one year: 7 ( 467,547 ) ( 628,587 )
Net current assets (liabilities): (5,993) (178,883)
Total assets less current liabilities: 990,200 701,844
Creditors: amounts falling due after more than one year: 8 ( 75,053 ) ( 39,146 )
Total net assets (liabilities): 915,147 662,698
Capital and reserves
Called up share capital: 131 131
Share premium account: 399,969 399,969
Profit and loss account: 515,047 262,598
Total Shareholders' funds: 915,147 662,698

The notes form part of these financial statements

DATAPHILES 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.

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

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

This report was approved by the board of directors on 4 October 2024
and signed on behalf of the board by:

Name: J K Bentham
Status: Director

The notes form part of these financial statements

DATAPHILES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

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

    Turnover policy

    Turnover represents licence income and amounts receivable for I.T. consultancy services net of VAT and trade discounts. Licence fee income is recognised by the reference to the customers use of the company's I.T. software and platforms. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

    Tangible fixed assets 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: Plant and machinery - 20% reducing balance Fixtures, fittings & equipment - 20% reducing balance 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 profit or loss. At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cashgenerating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

    Intangible fixed assets amortisation policy

    Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. Amortisation 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: Development Costs - 10% per annum

    Other accounting policies

    Government grants Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. Pension contributions The Company has a defined contribution pension scheme. The pension costs charged to the profit and loss account are the contributions payable in respect of the accounting period. Taxation The tax expense represents the sum of the tax currently payable and deferred 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. Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted. Research and development Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. Investments Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. Debtors Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method, less any impairment. Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Creditors Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method. Leases Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

DATAPHILES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 11 13

DATAPHILES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2023 5,000 1,269,499 1,274,499
Additions 279,882 279,882
Disposals
Revaluations
Transfers
At 31 December 2023 5,000 1,549,381 1,554,381
Amortisation
At 1 January 2023 5,000 436,038 441,038
Charge for year 154,938 154,938
On disposals
Other adjustments
At 31 December 2023 5,000 590,976 595,976
Net book value
At 31 December 2023 0 958,405 958,405
At 31 December 2022 0 833,461 833,461

DATAPHILES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 103,443 57,905 161,348
Additions 170 170
Disposals
Revaluations
Transfers
At 31 December 2023 103,443 58,075 161,518
Depreciation
At 1 January 2023 78,200 36,082 114,282
Charge for year 5,049 4,399 9,448
On disposals
Other adjustments
At 31 December 2023 83,249 40,481 123,730
Net book value
At 31 December 2023 20,194 17,594 37,788
At 31 December 2022 25,243 21,823 47,066

DATAPHILES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Fixed assets investments note

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

DATAPHILES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Debtors

2023 2022
£ £
Trade debtors 249,446 157,156
Prepayments and accrued income 561 1
Other debtors 111,482 220,669
Total 361,489 377,826

DATAPHILES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 6,526 5,439
Trade creditors 220,257 163,298
Taxation and social security 73,730 135,218
Accruals and deferred income 163,718 231,967
Other creditors 3,316 92,665
Total 467,547 628,587

DATAPHILES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 32,581 39,146
Other creditors 42,472
Total 75,053 39,146