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Registration number: 06930015

DesAcc EMEA Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024
 

 

DesAcc EMEA Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

DesAcc EMEA Ltd

Company Information

Directors

E B Lyshkow

H A Lyshkow

P Johnston

Registered office

21 Old Bond Street
Bath
England
BA1 1BP

Registered number

06930015

Accountant

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

DesAcc EMEA Ltd

(Registration number: 06930015)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

89,005

105,243

Investments

5

76

76

 

89,081

105,319

Current assets

 

Debtors

6

469,132

873,161

Cash at bank and in hand

 

325,602

291,951

 

794,734

1,165,112

Creditors: Amounts falling due within one year

7

(311,845)

(1,027,995)

Net current assets

 

482,889

137,117

Total assets less current liabilities

 

571,970

242,436

Provisions for liabilities

(20,853)

-

Net assets

 

551,117

242,436

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

550,917

242,236

Total equity

 

551,117

242,436

 

DesAcc EMEA Ltd

(Registration number: 06930015)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 24 March 2025 and signed on its behalf by:
 

.........................................

H A Lyshkow
Director

 

DesAcc EMEA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21 Old Bond Street
Bath
BA1 1BP
England

2

Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

DesAcc EMEA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Foreign exchange gains and losses are taken to the profit or loss, and classified within administrative expenses.

Tax

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

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 taxable income.


Deferred tax
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Furniture, fittings and equipment

25% reducing balance

Office equipment

33% reducing balance

Research and development costs

Expenditure on research and development is written off in the year in which it is incurred. Specific development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

 

DesAcc EMEA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

DesAcc EMEA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 14).

 

DesAcc EMEA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible fixed assets

Furniture, fittings and equipment
 £

Office equipment
 £

Total
£

Cost

At 1 July 2023

195,655

26,984

222,639

Additions

18,536

-

18,536

At 30 June 2024

214,191

26,984

241,175

Depreciation

At 1 July 2023

95,429

21,967

117,396

Charge for the year

32,843

1,931

34,774

At 30 June 2024

128,272

23,898

152,170

Carrying amount

At 30 June 2024

85,919

3,086

89,005

At 30 June 2023

100,226

5,017

105,243

5

Investments

2024
£

2023
£

Investment in subsidiary

76

76

The company owns 100 shares in DesAcc North America Inc. which represents 100% of total share capital.

 

DesAcc EMEA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Debtors: amounts falling due within one year

2024
£

2023
£

Trade debtors

214,347

393,590

Amounts owed by subsidiaries

158,777

262,796

Other debtors

23,258

16,801

VAT

9,219

-

Prepayments and accrued income

52,097

188,465

Corporation tax

-

11,509

Director's loan account

11,434

-

469,132

873,161

7

Creditors

2024
£

2023
£

Bank loans and overdrafts

-

26,980

Trade creditors

71,888

49,144

Corporation tax

29,892

-

Taxation and social security

26,005

104,034

Other creditors

9,939

10,544

Accruals and deferred income

174,121

828,492

Director's loan account

-

8,801

311,845

1,027,995

 

DesAcc EMEA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200

         

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Total

9,513

37,333

The amount of non-cancellable operating lease payments recognised as an expense during the year was £29,095 (2023 - £28,856).

10

Related party transactions

FRS 102 does not require disclosure of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly-owned by such a member.