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Registered number: 07963350
Dyelog Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Ten Forward Accounting Ltd
Chartered Certified Accountants
1 Mountview Court
310 Friern Barnet Lane
London
N20 0LD
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—4
Page 1
Statement of Financial Position
Registered number: 07963350
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 240 479
240 479
CURRENT ASSETS
Debtors 5 20,854 23,374
Cash at bank and in hand 31,812 23,373
52,666 46,747
Creditors: Amounts Falling Due Within One Year 6 (46,505 ) (47,642 )
NET CURRENT ASSETS (LIABILITIES) 6,161 (895 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,401 (416 )
NET ASSETS/(LIABILITIES) 6,401 (416 )
CAPITAL AND RESERVES
Called up share capital 7 2 2
Income Statement 6,399 (418 )
SHAREHOLDERS' FUNDS 6,401 (416)
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Ms Hsiu Shan Chen
Director
18 November 2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Dyelog Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07963350 . The registered office is Unit F, Flat Iron Yard, 14 Ayres Street, London, SE1 1ES.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% Straight Line Basis
2.4. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
Page 2
Page 3
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 3,396
Disposals (393 )
As at 29 February 2024 3,003
Depreciation
As at 1 March 2023 2,917
Provided during the period 239
Disposals (393 )
As at 29 February 2024 2,763
Net Book Value
As at 29 February 2024 240
As at 1 March 2023 479
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,636 13,145
Prepayments and accrued income 3,758 5,129
Other debtors 5,100 5,100
VAT 1,360 -
20,854 23,374
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 605 3,572
Corporation tax 2,774 -
Other taxes and social security 1,252 840
VAT - 2,036
Other creditors 329 877
Accruals and deferred income 1,210 1,512
Director's loan account 40,335 38,805
46,505 47,642
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary A shares of £ 1.000 each 2 2
Page 3
Page 4
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 24,033 9,256
Later than one year and not later than five years 34,550 -
58,583 9,256
9. Ultimate Controlling Party
The company's ultimate controlling party is Ms Hsiu Shan Chen by virtue of her ownership of 100% of the issued share capital in the company.
Page 4