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REGISTERED NUMBER: 12514284 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 May 2024

for

Dare Technology Limited

Dare Technology Limited (Registered number: 12514284)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dare Technology Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A P Metcalfe
M Thomson





REGISTERED OFFICE: Clavering House
Clavering Place
Newcastle Upon Tyne
Tyne and Wear
NE1 3NG





REGISTERED NUMBER: 12514284 (England and Wales)





ACCOUNTANTS: Equate Limited
Chartered Certified Accountants
The Hive
142 Thornes Lane
Wakefield
West Yorkshire
WF2 7RE

Dare Technology Limited (Registered number: 12514284)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,795 18,072

CURRENT ASSETS
Debtors 5 303,643 307,560
Cash at bank 134,295 127,312
437,938 434,872
CREDITORS
Amounts falling due within one year 6 270,487 311,428
NET CURRENT ASSETS 167,451 123,444
TOTAL ASSETS LESS CURRENT
LIABILITIES

177,246

141,516

CAPITAL AND RESERVES
Called up share capital 60 60
Retained earnings 177,186 141,456
SHAREHOLDERS' FUNDS 177,246 141,516

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Dare Technology Limited (Registered number: 12514284)

Balance Sheet - continued
31 May 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 14 June 2024 and were signed on its behalf by:





A P Metcalfe - Director


Dare Technology Limited (Registered number: 12514284)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Dare 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
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.

Turnover
Turnover is recognised then the company has the right to consideration. Licence income is recognised when the contract commences, service revenue once a proportion or all of the agreed works have been completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on cost

Financial instruments
The company only enters into basic financial instruments 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 12 ) .

Dare Technology Limited (Registered number: 12514284)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023 8,879 23,056 31,935
Additions - 2,040 2,040
At 31 May 2024 8,879 25,096 33,975
DEPRECIATION
At 1 June 2023 2,753 11,110 13,863
Charge for year 2,218 8,099 10,317
At 31 May 2024 4,971 19,209 24,180
NET BOOK VALUE
At 31 May 2024 3,908 5,887 9,795
At 31 May 2023 6,126 11,946 18,072

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 224,888 242,076
Other debtors 78,755 65,484
303,643 307,560

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 150,991 203,076
Taxation and social security 45,573 47,579
Other creditors 73,923 60,773
270,487 311,428

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.5.24 31.5.23
£    £   
Within one year 3,362 49,617
Between one and five years - 98,738
3,362 148,355

Dare Technology Limited (Registered number: 12514284)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. RELATED PARTY DISCLOSURES

During the year the company advanced a loan of £10,000 to a company under the common control of the director. The loan was non interest bearing and repayable on demand.