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Registered number: 05566149
Dutch Persistence Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05566149
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 156,057 -
Investments 5 1 210,000
156,058 210,000
CURRENT ASSETS
Debtors 6 440,977 497,605
Cash at bank and in hand 1,628 2,525
442,605 500,130
Creditors: Amounts Falling Due Within One Year 7 (128,582 ) (199,970 )
NET CURRENT ASSETS (LIABILITIES) 314,023 300,160
TOTAL ASSETS LESS CURRENT LIABILITIES 470,081 510,160
PROVISIONS FOR LIABILITIES
Provisions For Charges (128,942 ) (153,521 )
NET ASSETS 341,139 356,639
CAPITAL AND RESERVES
Called up share capital 8 88 102
Share premium account 471,644 544,000
Other reserves 571,694 535,958
Profit and Loss Account (702,287 ) (723,421 )
SHAREHOLDERS' FUNDS 341,139 356,639
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr. Jan Mink
Director
27 February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dutch Persistence Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05566149 . The registered office is Epic White Rock Business Park, Waddeton Close, Paignton, Devon, TQ4 7RZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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2.4. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Intangible Assets
Development Costs
£
Cost
As at 1 January 2023 -
Additions 182,067
As at 31 December 2023 182,067
Amortisation
As at 1 January 2023 -
Impairment losses 26,010
As at 31 December 2023 26,010
Net Book Value
As at 31 December 2023 156,057
As at 1 January 2023 -
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Page 5
5. Investments
Listed
£
Cost
As at 1 January 2023 210,000
Disposals (209,999 )
As at 31 December 2023 1
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 1
As at 1 January 2023 210,000
6. Debtors
2023 2022
£ £
Due within one year
Receivables from group companies 48,385 54,474
Receivables from management 65,024 75,930
113,409 130,404
Due after more than one year
Amounts owed by other participating interests 327,568 367,201
440,977 497,605
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,523 514
Other taxes and social security 201 468
Other creditors 17,890 -
Amounts owed to other participating interests 108,968 198,988
128,582 199,970
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 88 102
Page 5