Registered number: 13721366
DTD LIVE LTD
UNAUDITED
ANNUAL REPORT
FOR THE PERIOD ENDED 30 JUNE 2024
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DTD LIVE LTD
REGISTERED NUMBER: 13721366
BALANCE SHEET
AS AT 30 JUNE 2024
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 March 2025.
The notes on pages 2 to 7 form part of these financial statements.
Page 1
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DTD LIVE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
1.Accounting policies
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Basis of preparation of financial statements
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DTD Live Limited (''the company'') is a limited liability company, limited by shares, incorporated and domiciled in the United Kingdom. The address of its registered office is 15 Beck Street, Nottingham, England, NG1 1EQ.
The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the 18 month period ended 30 June 2024 (2022: 13 month period ended 31 December 2022).
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounts policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The company has received confirmation of continuing financial support from the ultimate controlling party, who confirm that they will provide sufficient funds for the company to meet its financial obligations for a period of at least twelve months from the date of these financial statements.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of turnover can be measured reliably;
∙it is probable that the company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Interest income is recognised in the profit and loss account using the effective interest method.
Page 2
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DTD LIVE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
1.Accounting policies (continued)
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss account.
Page 3
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DTD LIVE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
1.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in the profit and loss account within 'other operating income'.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, and loans to from other third parties.
All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
The average monthly number of employees, including directors, during the period was 11 (2022: 1).
Page 4
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DTD LIVE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
Page 5
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DTD LIVE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
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Due after more than one year
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Amounts owed by group undertakings
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Amounts owed by group undertakings
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Called up share capital not paid
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Prepayments and accrued income
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All amounts owed by group undertakings are unsecured, interest free and have no fixed date of repayment.
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Authorised, alloted, called up and fully paid
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100 Ordinary shares of £1 each
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Page 6
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DTD LIVE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £25,496 for the 18 month period ended 30 June 2024 (13 month period ended 31 December 2022: £Nil). Contributions totalling £2,190 (31 December 2022: £Nil) were payable to fund at the balance sheet date.
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Related party transactions
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The company has taken advantage of the exemption conferred by FRS 102 section 33 'Related Party Disclosures' not to disclose transactions with companies within the group of which it is a member, where these transactions occur between entities which are 100% owned members of that group.
During the 18 month period ended 30 June 2024, the company made a charity donation of £7,930 (13 month period ended 31 December 2022: £Nil) to a company under common control.
At 30 June 2024, the company owed £10,590 (31 December 2022: £6,502) to a company under common control. This is recognised within other creditors.
All amounts owed to and by related party balances are interest free and are unsecured.
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The company's immediate and ultimate parent undertaking is DTD Leisure Limited, a company incorporated in the United Kingdom.
The ultimate controlling party is R T Yong.
Page 7
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