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REGISTERED NUMBER: 07721644 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

DCG TEAM UK LIMITED

DCG TEAM UK LIMITED (REGISTERED NUMBER: 07721644)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DCG TEAM UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S P Markfort
A V Bukkasagaram
D A Di Gregorio





REGISTERED OFFICE: 3rd Floor
21 Perrymount Road
Haywards Heath
West Sussex
RH16 3TP





REGISTERED NUMBER: 07721644 (England and Wales)





AUDITORS: Galloways Accounting
Statutory Auditor
15 West Street
Brighton
East Sussex
BN1 2RL

DCG TEAM UK LIMITED (REGISTERED NUMBER: 07721644)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,473 4,233

CURRENT ASSETS
Debtors 5 643,802 1,079,225
Cash at bank 222,816 318,528
866,618 1,397,753
CREDITORS
Amounts falling due within one year 6 283,766 346,118
NET CURRENT ASSETS 582,852 1,051,635
TOTAL ASSETS LESS CURRENT
LIABILITIES

590,325

1,055,868

CREDITORS
Amounts falling due after more than one
year

7

(2,667

)

(18,667

)

PROVISIONS FOR LIABILITIES (1,868 ) (799 )
NET ASSETS 585,790 1,036,402

CAPITAL AND RESERVES
Called up share capital 8 3 3
Retained earnings 585,787 1,036,399
SHAREHOLDERS' FUNDS 585,790 1,036,402

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 January 2025 and were signed on its behalf by:





D A Di Gregorio - Director


DCG TEAM UK LIMITED (REGISTERED NUMBER: 07721644)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

DCG Team UK 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements are for the 12 months from 1 April 2023 to 31 March 2024, whereas the comparatives are for the 8 months from 1 August 2022 to 31 March 2023. The balance sheet date was changed to align to the balance sheet date of the company's new parent company. The comparatives are not entirely comparable.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to meet its obligations as they fall due for the foreseeable future. The company holds significant cash reserves and since the year end, it has continued to be both profitable and cash generative. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis.

Critical accounting 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 value 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.

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 reviewed where the revision affects only that period, or in the period of the revision where the revision affects both current and future periods.

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:

Revenue recognition

Revenue relates to long term contracts for services. Judgements and estimates are applied in determining the stage of completion and therefore amounts to be recognised, accrued and deferred. Where an indication a contract has become onerous is identified, the directors use judgement and estimation to determine the expected future loss.

There have been no onerous contracts identified.

Turnover
Turnover represents the fair value of consideration received or receivable in relation to consultancy services, excluding discounts, rebates or value added tax. Revenue is recognised to the extent that there is a right to consideration. Where a contract has only been partially completed at the balance sheet date, revenue represents the fair value of the service provided to date, in accordance with the terms of the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% straight line
Computer equipment - 33.3% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

DCG TEAM UK LIMITED (REGISTERED NUMBER: 07721644)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 153 26,820 26,973
Additions - 5,314 5,314
At 31 March 2024 153 32,134 32,287
DEPRECIATION
At 1 April 2023 153 22,587 22,740
Charge for year - 2,074 2,074
At 31 March 2024 153 24,661 24,814
NET BOOK VALUE
At 31 March 2024 - 7,473 7,473
At 31 March 2023 - 4,233 4,233

DCG TEAM UK LIMITED (REGISTERED NUMBER: 07721644)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 307,315 201,948
Amounts owed by group undertakings - 512,541
Other debtors 336,487 364,736
643,802 1,079,225

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,778 12,352
Amounts owed to group undertakings 84,234 53,897
Taxation and social security 125,089 208,625
Other creditors 72,665 71,244
283,766 346,118

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 2,667 18,667

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1
2 A Ordinary £1 2 2
3 3

The Ordinary and A Ordinary shares rank pari passu in all respects.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion
We were unable to gather sufficient appropriate evidence to satisfy ourselves as to the occurrence, accuracy and completeness of accrued income of £331,850. This has a consequential impact on the revenue recognised in the financial statements. Material projects were ongoing at the year end, for which we were unable to obtain sufficient appropriate evidence as to the stage of their completion. We were unable to verify the impact of this on the financial statements.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Christian Heeger BSc FCA (Senior Statutory Auditor)

for and on behalf of Galloways Accounting

DCG TEAM UK LIMITED (REGISTERED NUMBER: 07721644)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the company advanced £Nil (2022: £Nil) to a director and the director made repayments of £6,633 (2022: £312). At the year end, the director owed the company £NIL (2022: £6,633). The advances were unsecured and repayable on demand. No interest was charged in respect of the advances.