Datadecode Ltd 11363726 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Management consultancy activities other than financial management Digita Accounts Production Advanced 6.30.9574.0 true true 11363726 2023-04-01 2024-03-31 11363726 2024-03-31 11363726 core:CurrentFinancialInstruments 2024-03-31 11363726 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11363726 bus:SmallEntities 2023-04-01 2024-03-31 11363726 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11363726 bus:FullAccounts 2023-04-01 2024-03-31 11363726 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11363726 bus:RegisteredOffice 2023-04-01 2024-03-31 11363726 bus:Director1 2023-04-01 2024-03-31 11363726 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11363726 countries:EnglandWales 2023-04-01 2024-03-31 11363726 2022-04-01 2023-03-31 11363726 2023-03-31 11363726 core:CurrentFinancialInstruments 2023-03-31 11363726 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 11363726

Prepared for the registrar

Datadecode Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Datadecode Ltd

(Registration number: 11363726)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

14,786

28,792

Cash at bank and in hand

 

120,388

227,049

 

135,174

255,841

Creditors: Amounts falling due within one year

5

(30,655)

(111,914)

Net assets

 

104,519

143,927

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

104,419

143,827

Shareholders' funds

 

104,519

143,927

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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 Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 October 2024 and signed on its behalf by:
 

Mr C Taylor
Director

   
     
 

Datadecode Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Buckhorn House
Cheltenham Road
Bisley
Stroud
GL6 7BJ

 

2

Accounting policies

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements

No significant judgements have been made by management in preparing these financial statements.

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 and after eliminating sales within the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Datadecode Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Datadecode Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

 

4

Debtors

2024
 £

2023
 £

Trade debtors

14,466

-

Other debtors

-

28,472

Prepayments

320

320

 

14,786

28,792

 

5

Creditors

2024
 £

2023
 £

Due within one year

Loans and borrowings

1,329

74,705

Social security and other taxes

15,132

13,265

Accrued expenses

1,930

1,835

Corporation tax liability

12,264

22,109

30,655

111,914

 

6

Loans and borrowings

Note

2024
£

2023
£

Current loans and borrowings

Loan account

7

1,329

74,705

 

7

Related party transactions

Summary of transactions with directors

At the year end, the company owed £1,329 (2023 - £74,705) to the directors of the company in the form a directors' loan account. The loan is unsecured, interest free and repayable on demand.