Company registration number 12623517 (England and Wales)
DNC TECH LABS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
DNC TECH LABS LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,856
-
0
Current assets
Cash at bank and in hand
13,957
6,635
Creditors: amounts falling due within one year
4
(1,454)
(2,087)
Net current assets
12,503
4,548
Total assets less current liabilities
15,359
4,548
Creditors: amounts falling due after more than one year
5
(107,456)
(107,942)
Net liabilities
(92,097)
(103,394)
Capital and reserves
Called up share capital
7
-
0
-
0
Profit and loss reserves
(92,097)
(103,394)
Total equity
(92,097)
(103,394)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

DNC TECH LABS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2024
31 May 2024
2
The financial statements were approved by the board of directors and authorised for issue on 21 February 2025 and are signed on its behalf by:
Dr DJ Hansford
Director
Company Registration No. 12623517
DNC TECH LABS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
3
1
Accounting policies
Company information

DNC Tech Labs Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Bournemouth Road, Chandler's Ford, Eastleigh, Hampshire, SO53 3DA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is reliant on the continued financial support of the directors. The directors have indicated that they will continue to support the company and therefore consider it appropriate to adopt the going concern basis of accounting.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
Straight Line 25%
Computers
Straight Line 33%

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

DNC TECH LABS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies (Continued)
4
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

DNC TECH LABS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
5
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023
2,414
Additions
4,246
At 31 May 2024
6,660
Depreciation and impairment
At 1 June 2023
2,414
Depreciation charged in the year
1,390
At 31 May 2024
3,804
Carrying amount
At 31 May 2024
2,856
At 31 May 2023
-
0
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,454
2,087
DNC TECH LABS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
6
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Loan from parent company
107,456
107,942

The loan is interest free and not repayable within a year of the balance sheet date.

6
Share capital

The company's share capital consists of 1 ordinary share with a nominal value of £0.01

7
Parent company

DNC Tech Labs Limited is a subsidiary of DNC Tech Labs Inc. a company registered in Delaware USA.

 

The directors of DNC Tech Labs Limited own the shares in DNC Tech Labs Inc and therefore are the ultimate controlling party.

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