Acorah Software Products - Accounts Production 16.0.110 false true true false 1 December 2022 31 December 2023 31 December 2023 14518938 Ms Maryna Virko iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14518938 2022-11-30 14518938 2023-12-31 14518938 2022-12-01 2023-12-31 14518938 frs-core:ShareCapital 2023-12-31 14518938 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 14518938 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-12-31 14518938 frs-bus:FilletedAccounts 2022-12-01 2023-12-31 14518938 frs-bus:SmallEntities 2022-12-01 2023-12-31 14518938 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-12-31 14518938 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-12-31 14518938 frs-bus:OrdinaryShareClass1 2022-12-01 2023-12-31 14518938 frs-bus:OrdinaryShareClass1 2023-12-31 14518938 frs-core:CostValuation 2022-11-30 14518938 frs-core:AdditionsToInvestments 2023-12-31 14518938 frs-core:CostValuation 2023-12-31 14518938 frs-core:ProvisionsForImpairmentInvestments 2022-11-30 14518938 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 14518938 frs-bus:Director1 2022-12-01 2023-12-31 14518938 frs-countries:EnglandWales 2022-12-01 2023-12-31
Registered number: 14518938
Digital Vision Group Limited
Unaudited Financial Statements
For the Period 1 December 2022 to 31 December 2023
Ryder Tax Consultants Ltd
Richmond Bridge House
419 Richmond Road
Twickenham
TW1 2EX
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14518938
31 December 2023
Notes £ £
FIXED ASSETS
Investments 4 471,049
471,049
CURRENT ASSETS
Cash at bank and in hand 25
25
Creditors: Amounts Falling Due Within One Year 5 (645 )
NET CURRENT ASSETS (LIABILITIES) (620 )
TOTAL ASSETS LESS CURRENT LIABILITIES 470,429
NET ASSETS 470,429
CAPITAL AND RESERVES
Called up share capital 6 470,998
Profit and Loss Account (569 )
SHAREHOLDERS' FUNDS 470,429
For the period ending 31 December 2023 the company was entitled to exemption from audit 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 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 Profit and Loss Account.
On behalf of the board
Ms Maryna Virko
Director
14/05/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Digital Vision Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14518938 . The registered office is 71-75 Shelton Street, London, WC2H 9JQ.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.
2.4. Preparation of Consolidated Financial Statements
The financial statements contain information about Digital Vision Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
2.5. Investment in Subsidiaries
Investment in subsidiary undertakings are recognised at cost less any provision for impairment.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Investments
Subsidiaries
£
Cost
As at 1 December 2022 -
Additions 471,049
As at 31 December 2023 471,049
Provision
As at 1 December 2022 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 471,049
As at 1 December 2022 -
The company owns 80% of the issued share capital of DCM Corp Limited, a company registered in England with authorised share capital of €1,000,000 (£859,697) of which €547,925 (£471,050) has been allotted, called up and paid.
DCM Corp Limited commenced activities on 14 December 2023 in software development and at 31 December 2023 had operating losses of £134,327 and shareholders' funds of £336,723
Page 2
Page 3
5. Creditors: Amounts Falling Due Within One Year
31 December 2023
£
Other creditors 645
6. Share Capital
31 December 2023
Allotted, called up and fully paid £
547,672 Ordinary Shares of £ 0.86 each 470,998
The company was created on 1 December 2022 with an authorised share capital of €1,000,000 (£859,550) of which €547,959 (£470,998) was allotted, called up and paid up to form the initial working capital of the company.
7. Financial Facilities
Under the terms of a revolving financial facility between the company and its shareholder dated 21 December 2023, the sharehoLder has extended a credit facility of US$500,000 bearing an interest rate of 3% per annum calculted on a daily basis. The company may draw on the facility in whole or in part as and when required and the facility shall be available until the earlier of 21 December 2026 or such time that the company no longer requires the facility. As at the balance sheet date, no amounts had been drawn down under the facilty.
The same amount and terms of the revolving facility have been extended to the companies subsidiary, DCM Corp. Ltd.
Page 3