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Company registration number: 06569702







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


DVSI LIMITED






































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DVSI LIMITED
 


 
COMPANY INFORMATION


Directors
R S F Lytton Cobbold 
J R W Henry 




Registered number
06569702



Registered office
The Estate Office Knebworth Park
Old Knebworth

Knebworth

Hertfordshire

SG3 6PY




Accountants
Menzies LLP
Chartered Accountants

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP





 


DVSI LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8

Change of name

Until 11 March 2024, the company was known as DV Signage Ltd.


 


DVSI LIMITED
REGISTERED NUMBER:06569702



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
163
4,634

Tangible assets
 5 
21,021
24,143

  
21,184
28,777

Current assets
  

Stocks
  
22,265
39,444

Debtors: amounts falling due within one year
 6 
2,709,669
2,136,532

Bank and cash balances
  
175,543
53,526

  
2,907,477
2,229,502

Creditors: amounts falling due within one year
 7 
(1,981,314)
(1,728,068)

Net current assets
  
 
 
926,163
 
 
501,434

Total assets less current liabilities
  
947,347
530,211

Creditors: amounts falling due after more than one year
  
(95,804)
(146,333)

Provisions for liabilities
  

Deferred tax
  
(5,296)
(7,194)

  
 
 
(5,296)
 
 
(7,194)

Net assets
  
846,247
376,684


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
846,147
376,584

  
846,247
376,684


Page 1

 


DVSI LIMITED
REGISTERED NUMBER:06569702


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 year in question in accordance with section 476 of the Companies Act 2006.

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 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 by: 




................................................
R S F Lytton Cobbold
Director

Date: 19 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


DVSI LIMITED
 


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

1.


General information

DVSI 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.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors have undertaken to continue their financial support of the company for the foreseeable future. On this basis they believe it is appropriate to prepare these accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Pensions

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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


DVSI LIMITED
 


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

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Tangible fixed assets

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:

Plant and machinery
-
10%
on cost

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 profit or loss.

Page 4

 


DVSI LIMITED
 


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

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 9).


4.


Intangible assets




Development expenditure

£



Cost


At 1 April 2023
68,526



At 31 March 2024

68,526



Amortisation


At 1 April 2023
63,892


Charge for the year on owned assets
4,471



At 31 March 2024

68,363



Net book value



At 31 March 2024
163



At 31 March 2023
4,634



Page 5

 


DVSI LIMITED
 


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

5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 April 2023
31,221



At 31 March 2024

31,221



Depreciation


At 1 April 2023
7,078


Charge for the year on owned assets
3,122



At 31 March 2024

10,200



Net book value



At 31 March 2024
21,021



At 31 March 2023
24,143


6.


Debtors

2024
2023
£
£


Trade debtors
1,097,840
1,388,187

Amounts owed by connected companies
736,566
430,602

Other debtors
875,263
317,743

2,709,669
2,136,532


Page 6

 


DVSI LIMITED
 


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

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
50,000
50,000

Trade creditors
156,495
45,866

Amounts owed to connected companies
1,197,481
1,072,102

Corporation tax
197,690
4,750

Other creditors
379,648
555,350

1,981,314
1,728,068


The following liabilities were secured:

2024
2023
£
£



Bank loans
50,000
50,000

50,000
50,000

Details of security provided:

The bank loan and other facilities are secured by a fixed and floating charge over the company's assets. 


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
95,804
146,333

95,804
146,333


The following liabilities were secured:

2024
2023
£
£



Bank loans
95,804
146,333

95,804
146,333

Details of security provided:

The bank loan and other facilities are secured by a fixed and floating charge over the company's assets. 

Page 7

 


DVSI LIMITED
 


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

9.


Related party transactions

At the balance sheet date the company owed £1,189 (2023: £0) to the directors. The balance can be found within creditors due within one year. No interest is being charged on this loan.
Included within debtors is an amount of £736,566 (2023: £430,602) due from connected companies.  These amounts are interest free and repayable on demand.
Included within creditors due within one year is an amount of £1,197,481 (2023: £1,072,102) due to connected companies.  These amounts are interest free and repayable on demand.

 
Page 8