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Registration number: 05670161

Business DNA Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Business DNA Limited

Contents
for the Year Ended 31 March 2024

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 8

 

Business DNA Limited

Company Information
for the Year Ended 31 March 2024

Directors

F Gaughan

G Gaughan

Company secretary

Windsor Accountancy Limited

Registered office

St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

Registered number

05670161 ( England and Wales )

Accountants

Windsor Accountancy Ltd
Chartered Certified Accountants
St. Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

Business DNA Limited

(Registration number: 05670161)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

5

201

201

Current assets

 

Debtors

6

15,609

18,326

Cash at bank and in hand

 

249,096

344,252

 

264,705

362,578

Creditors: Amounts falling due within one year

7

(5,115)

(23,864)

Net current assets

 

259,590

338,714

Net assets

 

259,791

338,915

Capital and reserves

 

Called up share capital

100

100

Retained earnings

259,691

338,815

Shareholders' funds

 

259,791

338,915

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................
G Gaughan
Director

 

Business DNA Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

100

338,815

338,915

Profit for the year

-

8,616

8,616

Dividends

-

(87,740)

(87,740)

At 31 March 2024

100

259,691

259,791

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

100

358,476

358,576

Profit for the year

-

73,199

73,199

Dividends

-

(92,860)

(92,860)

At 31 March 2023

100

338,815

338,915

 

Business DNA Limited

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:
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

These financial statements were authorised for issue by the Board on 25 September 2024.

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 that as disclosed in the accounting policies certain items are shown at fair value.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Business DNA Limited

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

Tax

The tax expense for the period comprises current 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 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% Straight line

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.

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables. Amounts classified as receivable within one year are not amortised.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Amounts classified as payable within one year are not amortised.

 

Business DNA Limited

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

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.

3

Staff numbers

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

6,408

6,408

At 31 March 2024

6,408

6,408

Depreciation

At 1 April 2023

6,408

6,408

At 31 March 2024

6,408

6,408

Carrying amount

At 31 March 2024

-

-

 

Business DNA Limited

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

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

201

201

At 31 March 2024

201

201

Impairment

Carrying amount

At 31 March 2024

201

201

6

Debtors

Current

2024
£

2023
£

Trade debtors

7,286

16,459

Prepayments

47

47

Other debtors

8,276

1,820

 

15,609

18,326

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

43

83

Taxation and social security

2,021

21,035

Accruals and deferred income

367

380

Other creditors

2,684

2,366

5,115

23,864

 

Business DNA Limited

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

8

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Advances and credits

(2,366)

25,140

(25,457)

(2,684)

 

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Advances and credits

(214)

18,200

(20,353)

(2,366)

 

Other transactions with directors

The balance due to the directors at the year end date was free of interest and deemed repayable on demand.