IRIS Accounts Production v24.3.2.46 13195484 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh131954842023-02-28131954842024-02-29131954842023-03-012024-02-29131954842022-02-28131954842022-03-012023-02-28131954842023-02-2813195484ns15:EnglandWales2023-03-012024-02-2913195484ns14:PoundSterling2023-03-012024-02-2913195484ns10:Director12023-03-012024-02-2913195484ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2913195484ns10:SmallEntities2023-03-012024-02-2913195484ns10:AuditExemptWithAccountantsReport2023-03-012024-02-2913195484ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2913195484ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2913195484ns10:FullAccounts2023-03-012024-02-291319548412023-03-012024-02-2913195484ns10:Director22023-03-012024-02-2913195484ns10:RegisteredOffice2023-03-012024-02-2913195484ns5:CurrentFinancialInstruments2024-02-2913195484ns5:CurrentFinancialInstruments2023-02-2813195484ns5:ShareCapital2024-02-2913195484ns5:ShareCapital2023-02-2813195484ns5:RetainedEarningsAccumulatedLosses2024-02-2913195484ns5:RetainedEarningsAccumulatedLosses2023-02-2813195484ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2913195484ns5:PatentsTrademarksLicencesConcessionsSimilar2023-03-012024-02-2913195484ns5:FurnitureFittings2023-03-012024-02-2913195484ns5:ComputerEquipment2023-03-012024-02-2913195484ns5:PatentsTrademarksLicencesConcessionsSimilar2023-02-2813195484ns5:PatentsTrademarksLicencesConcessionsSimilar2024-02-2913195484ns5:PatentsTrademarksLicencesConcessionsSimilar2023-02-2813195484ns5:FurnitureFittings2023-02-2813195484ns5:ComputerEquipment2023-02-2813195484ns5:FurnitureFittings2024-02-2913195484ns5:ComputerEquipment2024-02-2913195484ns5:FurnitureFittings2023-02-2813195484ns5:ComputerEquipment2023-02-2813195484ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2913195484ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2813195484ns5:DeferredTaxation2023-02-2813195484ns5:DeferredTaxation2024-02-2913195484ns5:RetainedEarningsAccumulatedLosses2023-02-2813195484ns5:RetainedEarningsAccumulatedLosses2023-03-012024-02-29131954841ns10:Director12023-02-28131954841ns10:Director12022-02-28131954841ns10:Director12023-03-012024-02-29131954841ns10:Director12022-03-012023-02-28131954841ns10:Director12024-02-29131954841ns10:Director12023-02-2813195484ns10:Director222023-02-2813195484ns10:Director222022-02-2813195484ns10:Director222023-03-012024-02-2913195484ns10:Director222022-03-012023-02-2813195484ns10:Director222024-02-2913195484ns10:Director222023-02-28
REGISTERED NUMBER: 13195484 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Double Dragon Technology Limited

Double Dragon Technology Limited (Registered number: 13195484)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Double Dragon Technology Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr R Greig
Mr A S Renicks





REGISTERED OFFICE: Grove House
774-780 Wilmslow Road
Manchester
M20 2DR





REGISTERED NUMBER: 13195484 (England and Wales)





ACCOUNTANTS: Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR

Double Dragon Technology Limited (Registered number: 13195484)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,139 1,282
Tangible assets 5 10,203 14,009
11,342 15,291

CURRENT ASSETS
Debtors 6 52,131 2,492,889
Cash at bank 3,376 76,656
55,507 2,569,545
CREDITORS
Amounts falling due within one year 7 (178,252 ) (2,553,621 )
NET CURRENT (LIABILITIES)/ASSETS (122,745 ) 15,924
TOTAL ASSETS LESS CURRENT
LIABILITIES

(111,403

)

31,215

PROVISIONS FOR LIABILITIES 8 (4,600 ) (2,662 )
NET (LIABILITIES)/ASSETS (116,003 ) 28,553

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 9 (116,007 ) 28,549
(116,003 ) 28,553

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Double Dragon Technology Limited (Registered number: 13195484)

Balance Sheet - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 January 2025 and were signed on its behalf by:





Mr A S Renicks - Director


Double Dragon Technology Limited (Registered number: 13195484)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Double Dragon Technology Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
At 29th February 2024, the company had net current liabilities of £122,745 (2023: Net current assets £15,924) and total net liabilities of £116,003 (2023:Total net assets £28,553). The company relies on the loan funding provided by its investors. The director is of the opinion that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of support by its investors.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Double Dragon Technology Limited (Registered number: 13195484)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 March 2023
and 29 February 2024 1,424
AMORTISATION
At 1 March 2023 142
Amortisation for year 143
At 29 February 2024 285
NET BOOK VALUE
At 29 February 2024 1,139
At 28 February 2023 1,282

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 1,381 17,959 19,340
DEPRECIATION
At 1 March 2023 307 5,024 5,331
Charge for year 215 3,591 3,806
At 29 February 2024 522 8,615 9,137
NET BOOK VALUE
At 29 February 2024 859 9,344 10,203
At 28 February 2023 1,074 12,935 14,009

Double Dragon Technology Limited (Registered number: 13195484)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 2,470,848
Payments on account 20,000 20,000
Directors' current accounts 24,567 -
Tax 7,368 1,128
Prepayments 196 913
52,131 2,492,889

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 148,121 -
Tax - 47,112
Social security and other taxes 5,606 -
Pension Payable 154 154
Net wage liability 500 500
VAT 14,201 4,187
Directors' current accounts 5,530 28,218
Accruals and deferred income 4,140 2,473,450
178,252 2,553,621

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 4,600 2,662

Deferred
tax
£   
Balance at 1 March 2023 2,662
Accelerated capital
allowances 1,938
Balance at 29 February 2024 4,600

9. RESERVES
Retained
earnings
£   

At 1 March 2023 28,549
Deficit for the year (144,556 )
At 29 February 2024 (116,007 )

Double Dragon Technology Limited (Registered number: 13195484)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mr A S Renicks
Balance outstanding at start of year 28,200 20,831
Amounts advanced 112,534 196,980
Amounts repaid (165,301 ) (189,611 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (24,567 ) 28,200

Mr R Greig
Balance outstanding at start of year 18 20
Amounts advanced 92,663 218,140
Amounts repaid (87,151 ) (218,142 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,530 18

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors and their wives.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Double Dragon Technology Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Double Dragon Technology Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Double Dragon Technology Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Double Dragon Technology Limited and state those matters that we have agreed to state to the Board of Directors of Double Dragon Technology Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Double Dragon Technology Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Double Dragon Technology Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Double Dragon Technology Limited. You consider that Double Dragon Technology Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Double Dragon Technology Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR


Date: .............................................