Company Registration No. NI018987 (Northern Ireland)
DCP STRATEGIC COMMUNICATION LTD
Unaudited accounts
for the year ended 31 March 2024
DCP STRATEGIC COMMUNICATION LTD
Unaudited accounts
Contents
DCP STRATEGIC COMMUNICATION LTD
Company Information
for the year ended 31 March 2024
Director
Mrs Gwynneth Cockcroft
Company Number
NI018987 (Northern Ireland)
Registered Office
231 Rashee Road
Ballyclare
BT39 9JQ
Accountants
Maliz Consulting Limited
10 Larch Hill
Holywood
BT18 0JN
DCP STRATEGIC COMMUNICATION LTD
Statement of financial position
as at 31 March 2024
Intangible assets
13,975
27,950
Tangible assets
8,915
7,740
Cash at bank and in hand
2,049
62,484
Creditors: amounts falling due within one year
(59,364)
(66,986)
Net current assets
28,075
64,026
Total assets less current liabilities
50,965
99,716
Creditors: amounts falling due after more than one year
(6,173)
(36,422)
Provisions for liabilities
Called up share capital
1,000
1,000
Profit and loss account
42,844
61,346
Shareholders' funds
43,844
62,346
For the 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. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 December 2024 and were signed on its behalf by
Mrs Gwynneth Cockcroft
Director
Company Registration No. NI018987
DCP STRATEGIC COMMUNICATION LTD
Notes to the Accounts
for the year ended 31 March 2024
DCP STRATEGIC COMMUNICATION LTD is a private company, limited by shares, registered in Northern Ireland, registration number NI018987. The registered office is 231 Rashee Road, Ballyclare, BT39 9JQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
3.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
3.2 Presentation currency
The financial statements are presented in £ sterling.
The director has 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.
Turnover is recognised to the extent that is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
The company operates a defined plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions
into a separate entity. Once the contributions have been paid, the company has no further payment obligations.
The contributions are recognised as an expense in the profit and loss account when due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.
DCP STRATEGIC COMMUNICATION LTD
Notes to the Accounts
for the year ended 31 March 2024
3.8 Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
3.9 Intangible fixed assets - 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 its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to intial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life.
The estimated useful lives range as follows:
Goodwill - 10 years
3.10 Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Not depreciated
Plant & machinery
25% straight line
Fixtures & fittings
15% reducing balance
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method, less any impairment.
3.12 Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
DCP STRATEGIC COMMUNICATION LTD
Notes to the Accounts
for the year ended 31 March 2024
3.14 Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried out in the balance sheet,
3.15 Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Investments in non-derivative instruments that are equity to the issuer are measured:
- at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;
- at cost less impairment for all other investments.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.
DCP STRATEGIC COMMUNICATION LTD
Notes to the Accounts
for the year ended 31 March 2024
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
4
Intangible fixed assets
Goodwill
Charge for the year
13,975
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
1,831
67,465
37,224
106,520
Additions
-
1,162
1,399
2,561
At 31 March 2024
1,831
68,627
38,623
109,081
At 1 April 2023
-
67,465
31,315
98,780
Charge for the year
-
290
1,096
1,386
At 31 March 2024
-
67,755
32,411
100,166
At 31 March 2024
1,831
872
6,212
8,915
At 31 March 2023
1,831
-
5,909
7,740
Amounts falling due within one year
Trade debtors
83,704
68,371
Accrued income and prepayments
1,686
157
DCP STRATEGIC COMMUNICATION LTD
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
6,317
7,622
Taxes and social security
42,021
26,891
8
Creditors: amounts falling due after more than one year
2024
2023
9
Average number of employees
During the year the average number of employees was 1 (2023: 3).