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REGISTERED NUMBER: 02207693 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

DSPG LIMITED

DSPG LIMITED (REGISTERED NUMBER: 02207693)

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


DSPG LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: J Skorkowski





SECRETARY: T Kaniuk





REGISTERED OFFICE: Unit 1
Linen House
253 Kilburn Lane
London
W10 4BQ





REGISTERED NUMBER: 02207693 (England and Wales)





ACCOUNTANTS: Liles Morris Limited
1st Floor
80 Coombe Road
New Malden
Surrey
KT3 4QS

DSPG LIMITED (REGISTERED NUMBER: 02207693)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 405,947 417,485
Investments 6 100 100
406,047 417,585

CURRENT ASSETS
Stocks 30,820 34,245
Debtors 7 55,938 41,107
Cash at bank 2,175,553 2,109,888
2,262,311 2,185,240
CREDITORS
Amounts falling due within one year 8 344,979 390,083
NET CURRENT ASSETS 1,917,332 1,795,157
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,323,379

2,212,742

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Revaluation reserve 9 120,000 120,000
Retained earnings 2,193,379 2,082,742
SHAREHOLDERS' FUNDS 2,323,379 2,212,742

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 director acknowledges his 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.

DSPG LIMITED (REGISTERED NUMBER: 02207693)

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 director and authorised for issue on 25 February 2025 and were signed by:





J Skorkowski - Director


DSPG LIMITED (REGISTERED NUMBER: 02207693)

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


1. STATUTORY INFORMATION

DSPG 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 (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from this standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Included in turnover is income related to maintenance contracts. These have ongoing commitments across the term of the contract and the income is recognised evenly across the term. Any amounts related to future years are treated as deferred income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


DSPG LIMITED (REGISTERED NUMBER: 02207693)

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


3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 564,531 50,770 615,301
Additions - 568 568
At 31 May 2024 564,531 51,338 615,869
DEPRECIATION
At 1 June 2023 149,797 48,019 197,816
Charge for year 11,291 815 12,106
At 31 May 2024 161,088 48,834 209,922
NET BOOK VALUE
At 31 May 2024 403,443 2,504 405,947
At 31 May 2023 414,734 2,751 417,485

The company's freehold property was revalued as at 31st May 2003 on an existing use basis.

DSPG LIMITED (REGISTERED NUMBER: 02207693)

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


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 May 2024 100
NET BOOK VALUE
At 31 May 2024 100
At 31 May 2023 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 40,846 37,423
Other debtors 15,092 3,684
55,938 41,107

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 49,951 61,114
Other creditors 295,028 328,969
344,979 390,083

9. RESERVES
Revaluation
reserve
£   
At 1 June 2023
and 31 May 2024 120,000