Company registration number 02162028 (England and Wales)
DATALASE LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
DATALASE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 11
DATALASE LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
5
623,384
647,814
Tangible assets
6
277,886
492,473
901,270
1,140,287
Current assets
Stocks
7
254,306
268,129
Debtors
8
1,837,320
1,844,532
Cash at bank and in hand
1,413,364
1,597,095
3,504,990
3,709,756
Creditors: amounts falling due within one year
9
(387,294)
(385,704)
Net current assets
3,117,696
3,324,052
Total assets less current liabilities
4,018,966
4,464,339
Provisions for liabilities
Provisions
10
602,672
650,000
(602,672)
(650,000)
Net assets
3,416,294
3,814,339
Capital and reserves
Called up share capital
11
2,696
2,696
Profit and loss reserves
3,413,598
3,811,643
Total equity
3,416,294
3,814,339
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 27 November 2024 and are signed on its behalf by:
C Lewis
Director
Company registration number 02162028 (England and Wales)
DATALASE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Datalase Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3 Wheldon Road, Widnes, Chesire, WA8 8FW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies.
1.2
Going concern
These financial statements have been prepared on a going concern basis. The Company meets its day-to-day working capital requirements through its bank facilities. The Directors have considered the cash flows of the company, taking into account expected cash flows. Key assumptions include sales and future costs to be incurred as the Company continues to progress in commercialising its laser reactive coating and printing technology. After making enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least 12 months from the date of approving these financial statements. The Company therefore continues to adopt the going concern basis in preparing its financial statements. true
1.3
Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.4
Research and development expenditure
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic beenfits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 5 to 10 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
DATALASE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Intangible fixed assets other than goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis over its useful economic life.
Other 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 10 years.
Patents
5-10 years
Development Costs
5-10 years
Trademarks
5-10 years
1.6
Tangible fixed assets
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:
Freehold land and buildings
5-10 years
Plant and equipment
3-5 years
Fixtures and fittings
3-10 years
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.
The assets' residual values, useful lives and depreciation methods are reviewed, and are adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
1.7
Impairment of fixed assets
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.
DATALASE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
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 cash-generating 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.
1.8
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.9
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.
1.10
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
DATALASE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.11
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.12
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current 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 tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.13
Provisions
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
DATALASE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
1.14
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.15
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.16
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.
1.17
Foreign currency translation
Foreign currency transactions are translated into the functional currency using the spot exchange rate at the dates of the transaction.
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 where 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'.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
DATALASE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
2
Judgements and key sources of estimation uncertainty
(Continued)
- 7 -
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Impairment of stocks
Determining the impairment of stocks requires an estimation of the net realisable value of the stocks. This estimation involves assessing the future selling prices of the stocks and the costs necessary to complete and sell the products. This impairment represents the directors’ best estimate, considering factors such as historical sales data, current market trends, and future sales forecasts. At the reporting date, the carrying amount of stocks, as shown in note 7, includes a provision for impairment. During the year, a provision of £1,514,180 was recognised (2023: £1,515,365).
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Administration
13
16
Production
2
2
Total
15
18
4
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
37,735
29,664
Company pension contributions to defined contribution schemes
301,092
77,592
338,827
107,256
DATALASE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
5
Intangible fixed assets
Patents
Development Costs
Trademarks
Total
£
£
£
£
Cost
At 1 April 2023
902,944
246,657
22,074
1,171,675
Additions
98,256
732
98,988
Disposals
(22,315)
(5,132)
(5,727)
(33,174)
At 31 March 2024
978,885
241,525
17,079
1,237,489
Amortisation and impairment
At 1 April 2023
410,049
107,854
5,958
523,861
Amortisation charged for the year
83,264
17,286
2,281
102,831
Disposals
(10,144)
(1,027)
(1,416)
(12,587)
At 31 March 2024
483,169
124,113
6,823
614,105
Carrying amount
At 31 March 2024
495,716
117,412
10,256
623,384
At 31 March 2023
492,895
138,803
16,116
647,814
6
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 April 2023
752,267
614,612
163,996
1,530,875
Additions
2,952
6,541
9,493
Disposals
(190,453)
(190,453)
At 31 March 2024
561,814
617,564
170,537
1,349,915
Depreciation and impairment
At 1 April 2023
362,499
547,158
128,745
1,038,402
Depreciation charged in the year
60,169
41,836
15,042
117,047
Eliminated in respect of disposals
(83,420)
(83,420)
At 31 March 2024
339,248
588,994
143,787
1,072,029
Carrying amount
At 31 March 2024
222,566
28,570
26,750
277,886
At 31 March 2023
389,768
67,454
35,251
492,473
DATALASE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
7
Stocks
2024
2023
£
£
Raw materials and consumables
112,199
163,399
Finished goods and goods for resale
142,107
104,730
254,306
268,129
There is no significant difference between the replacement cost of the inventory and its carrying amount.
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
513,442
343,254
Amounts owed by group undertakings
901,855
996,420
Other debtors
104,045
135,901
Prepayments and accrued income
317,978
368,957
1,837,320
1,844,532
Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.
9
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
163,888
207,480
Taxation and social security
12,099
77,484
Other creditors
23,327
33,291
Accruals and deferred income
187,980
67,449
387,294
385,704
10
Provisions for liabilities
2024
2023
£
£
Dilapidation provision
102,672
150,000
Other provisions
500,000
500,000
602,672
650,000
DATALASE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10
Provisions for liabilities
(Continued)
- 10 -
Movements on provisions:
Dilapidation provision
Other provisions
Total
£
£
£
At 1 April 2023
150,000
500,000
650,000
Additional provisions in the year
20,000
-
20,000
Reversal of provision
(67,328)
-
(67,328)
At 31 March 2024
102,672
500,000
602,672
11
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.001p each
269,608,390
269,608,390
2,696
2,696
12
Reserves
Called up share capital
Called up share capital represents the nominal value of the shares issued.
Profit and loss reserves
The profit and loss reserves represents cumulative profits and losses net of dividends paid and other adjustments.
13
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Helen Mills
Statutory Auditor:
Sumer Auditco Limited
Date of audit report:
27 November 2024
DATALASE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
14
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
2024
2023
£
£
Within one year
57,458
151,515
Between two and five years
3,907
61,365
151,515
15
Ultimate controlling party
Datalase Holdings Limited is the ultimate parent company of the group. The directors do not consider there to be an ultimate controlling party.
2024-03-312023-04-01false27 November 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedP DustainA GrantC Lewisfalsefalse021620282023-04-012024-03-31021620282024-03-3102162028core:OtherResidualIntangibleAssets2024-03-3102162028core:OtherResidualIntangibleAssets2023-03-3102162028core:PatentsTrademarksLicencesConcessionsSimilar2024-03-3102162028core:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-03-3102162028core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2024-03-3102162028core:PatentsTrademarksLicencesConcessionsSimilar2023-03-3102162028core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-03-3102162028core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-03-31021620282023-03-3102162028core:LandBuildingscore:OwnedOrFreeholdAssets2024-03-3102162028core:PlantMachinery2024-03-3102162028core:FurnitureFittings2024-03-3102162028core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3102162028core:PlantMachinery2023-03-3102162028core:FurnitureFittings2023-03-3102162028core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3102162028core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3102162028core:CurrentFinancialInstruments2024-03-3102162028core:CurrentFinancialInstruments2023-03-31021620282023-03-3102162028core:ShareCapital2024-03-3102162028core:ShareCapital2023-03-3102162028core:RetainedEarningsAccumulatedLosses2024-03-3102162028core:RetainedEarningsAccumulatedLosses2023-03-3102162028bus:Director32023-04-012024-03-3102162028core:PatentsTrademarksLicencesConcessionsSimilar2023-04-012024-03-3102162028core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-04-012024-03-3102162028core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-04-012024-03-3102162028core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-012024-03-3102162028core:PlantMachinery2023-04-012024-03-3102162028core:FurnitureFittings2023-04-012024-03-31021620282022-04-012023-03-3102162028core:PatentsTrademarksLicencesConcessionsSimilar2023-03-3102162028core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-03-3102162028core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-03-3102162028core:PatentsTrademarksLicencesConcessionsSimilarcore:ExternallyAcquiredIntangibleAssets2023-04-012024-03-3102162028core:DevelopmentCostsCapitalisedDevelopmentExpenditurecore:ExternallyAcquiredIntangibleAssets2023-04-012024-03-3102162028core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillcore:ExternallyAcquiredIntangibleAssets2023-04-012024-03-3102162028core:ExternallyAcquiredIntangibleAssets2023-04-012024-03-3102162028core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3102162028core:PlantMachinery2023-03-3102162028core:FurnitureFittings2023-03-3102162028core:WithinOneYear2024-03-3102162028core:WithinOneYear2023-03-3102162028core:BetweenTwoFiveYears2024-03-3102162028core:BetweenTwoFiveYears2023-03-3102162028bus:PrivateLimitedCompanyLtd2023-04-012024-03-3102162028bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3102162028bus:FRS1022023-04-012024-03-3102162028bus:Audited2023-04-012024-03-3102162028bus:Director12023-04-012024-03-3102162028bus:Director22023-04-012024-03-3102162028bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP