6 6 Dtwo Creative Ltd 05232713 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of a creative marketing agency. Digita Accounts Production Advanced 6.30.9574.0 true 05232713 2023-04-01 2024-03-31 05232713 2024-03-31 05232713 bus:Director3 1 2024-03-31 05232713 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-03-31 05232713 core:CurrentFinancialInstruments 2024-03-31 05232713 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05232713 core:Non-currentFinancialInstruments 2024-03-31 05232713 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05232713 core:FurnitureFittingsToolsEquipment 2024-03-31 05232713 bus:SmallEntities 2023-04-01 2024-03-31 05232713 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05232713 bus:FilletedAccounts 2023-04-01 2024-03-31 05232713 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05232713 bus:RegisteredOffice 2023-04-01 2024-03-31 05232713 bus:Director3 2023-04-01 2024-03-31 05232713 bus:Director3 1 2023-04-01 2024-03-31 05232713 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-04-01 2024-03-31 05232713 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05232713 bus:Agent1 2023-04-01 2024-03-31 05232713 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05232713 core:PlantMachinery 2023-04-01 2024-03-31 05232713 countries:EnglandWales 2023-04-01 2024-03-31 05232713 2023-03-31 05232713 core:FurnitureFittingsToolsEquipment 2023-03-31 05232713 2022-04-01 2023-03-31 05232713 2023-03-31 05232713 bus:Director3 1 2023-03-31 05232713 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-31 05232713 core:CurrentFinancialInstruments 2023-03-31 05232713 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05232713 core:Non-currentFinancialInstruments 2023-03-31 05232713 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 05232713 core:FurnitureFittingsToolsEquipment 2023-03-31 05232713 bus:Director3 1 2022-04-01 2023-03-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 05232713

Dtwo Creative Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Dtwo Creative Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 11

 

Dtwo Creative Ltd

Company Information

Director

Mr D Hunter

Registered office

8 Topsham Quay
Topsham
Exeter
Devon
EX3 0JB

Accountants

GX Accountancy & Bookkeeping Services Unit 1 Fortescue Court
Thorverton
Exeter
Devon
EX5 5JN

 

Dtwo Creative Ltd

(Registration number: 05232713)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

810

622

Current assets

 

Stocks

5

750

750

Debtors

6

404,048

387,222

Cash at bank and in hand

 

1

1

 

404,799

387,973

Creditors: Amounts falling due within one year

7

(285,885)

(279,359)

Net current assets

 

118,914

108,614

Total assets less current liabilities

 

119,724

109,236

Creditors: Amounts falling due after more than one year

7

(118,856)

(81,356)

Provisions for liabilities

(154)

(118)

Net assets

 

714

27,762

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

614

27,662

Shareholders' funds

 

714

27,762

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 January 2025
 

.........................................
Mr D Hunter
Director

 

Dtwo Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 Topsham Quay
Topsham
Exeter
Devon
EX3 0JB

These financial statements were authorised for issue by the director on 29 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Dtwo Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery etc

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Dtwo Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Dtwo Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 6).

 

Dtwo Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Plant and machinery etc
 £

Total
£

Cost or valuation

At 1 April 2023

42,732

42,732

Additions

742

742

At 31 March 2024

43,474

43,474

Depreciation

At 1 April 2023

42,110

42,110

Charge for the year

554

554

At 31 March 2024

42,664

42,664

Carrying amount

At 31 March 2024

810

810

At 31 March 2023

622

622

5

Stocks

2024
£

2023
£

Other inventories

750

750

6

Debtors

Current

2024
£

2023
£

Trade debtors

75,193

83,262

Prepayments

1,904

1,925

Other debtors

326,951

302,035

 

404,048

387,222

 

Dtwo Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

77,517

112,640

Trade creditors

 

30,413

23,989

Taxation and social security

 

163,141

120,129

Accruals and deferred income

 

491

10,077

Other creditors

 

14,323

12,524

 

285,885

279,359


Creditors include overdrafts which are secured of £17,156 (2023 - £30,219).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

118,856

81,356

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Dtwo Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

118,856

81,356

Current loans and borrowings

2024
£

2023
£

Bank borrowings

60,361

82,421

Bank overdrafts

17,156

30,219

77,517

112,640

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £18,419 (2023 - £11,850).

11

Related party transactions

The following loan to the director is unsecured and repayable on demand. Daily interest has been charged at a rate of 2.25% per annum throughout the year ended 31 March 2024 (2023: 2.00% per annum).

 

Dtwo Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

11

Related party transactions (continued)

Transactions with the director

2024

Advances to directors
£

Repayments by director
£

At 31 March 2024
£

Mr D Hunter

Loan

84,618

(56,950)

242,429

       
     

 

2023

Advances to directors
£

Repayments by director
£

At 31 March 2023
£

Mr D Hunter

Loan

179,668

(49,789)

214,761

       
     

 

 

Dtwo Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

11

Related party transactions (continued)

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,576

11,745

Dividends paid to the director

2024
£

2023
£

Mr D Hunter

Interim current period dividend

16,000

38,099