Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30trueProduction and sale of high end audio equipment2023-07-01false4143trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02072115 2023-07-01 2024-06-30 02072115 2022-07-01 2023-06-30 02072115 2024-06-30 02072115 2023-06-30 02072115 2022-07-01 02072115 c:Director6 2023-07-01 2024-06-30 02072115 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-06-30 02072115 d:Buildings d:LongLeaseholdAssets 2024-06-30 02072115 d:Buildings d:LongLeaseholdAssets 2023-06-30 02072115 d:PlantMachinery 2023-07-01 2024-06-30 02072115 d:PlantMachinery 2024-06-30 02072115 d:PlantMachinery 2023-06-30 02072115 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02072115 d:MotorVehicles 2023-07-01 2024-06-30 02072115 d:MotorVehicles 2024-06-30 02072115 d:MotorVehicles 2023-06-30 02072115 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02072115 d:FurnitureFittings 2023-07-01 2024-06-30 02072115 d:FurnitureFittings 2024-06-30 02072115 d:FurnitureFittings 2023-06-30 02072115 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02072115 d:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 02072115 d:OtherPropertyPlantEquipment 2024-06-30 02072115 d:OtherPropertyPlantEquipment 2023-06-30 02072115 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02072115 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02072115 d:PatentsTrademarksLicencesConcessionsSimilar 2024-06-30 02072115 d:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 02072115 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-06-30 02072115 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-06-30 02072115 d:CurrentFinancialInstruments 2024-06-30 02072115 d:CurrentFinancialInstruments 2023-06-30 02072115 d:Non-currentFinancialInstruments 2024-06-30 02072115 d:Non-currentFinancialInstruments 2023-06-30 02072115 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 02072115 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02072115 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 02072115 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 02072115 d:ShareCapital 2024-06-30 02072115 d:ShareCapital 2023-06-30 02072115 d:CapitalRedemptionReserve 2024-06-30 02072115 d:CapitalRedemptionReserve 2023-06-30 02072115 d:RetainedEarningsAccumulatedLosses 2024-06-30 02072115 d:RetainedEarningsAccumulatedLosses 2023-06-30 02072115 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 02072115 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 02072115 d:RetirementBenefitObligationsDeferredTax 2024-06-30 02072115 d:RetirementBenefitObligationsDeferredTax 2023-06-30 02072115 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-07-01 2024-06-30 02072115 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-06-30 02072115 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-06-30 02072115 c:OrdinaryShareClass1 2023-07-01 2024-06-30 02072115 c:OrdinaryShareClass1 2024-06-30 02072115 c:FRS102 2023-07-01 2024-06-30 02072115 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 02072115 c:FullAccounts 2023-07-01 2024-06-30 02072115 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02072115 d:WithinOneYear 2024-06-30 02072115 d:WithinOneYear 2023-06-30 02072115 d:BetweenOneFiveYears 2024-06-30 02072115 d:BetweenOneFiveYears 2023-06-30 02072115 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-07-01 2024-06-30 02072115 d:CopyrightsPatentsTrademarksServiceOperatingRights d:ExternallyAcquiredIntangibleAssets 2023-07-01 2024-06-30 02072115 6 2023-07-01 2024-06-30 02072115 d:ExternallyAcquiredIntangibleAssets 2023-07-01 2024-06-30 02072115 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-07-01 2024-06-30 02072115 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 02072115









DATA CONVERSION SYSTEMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
DATA CONVERSION SYSTEMS LIMITED
REGISTERED NUMBER: 02072115

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
64,977
88,862

Tangible assets
 5 
84,285
143,584

  
149,262
232,446

CURRENT ASSETS
  

Stocks
  
5,636,687
5,760,579

Debtors: amounts falling due within one year
 6 
1,047,356
2,709,344

Cash at bank and in hand
  
21,701
96,143

  
6,705,744
8,566,066

Creditors: amounts falling due within one year
 7 
(1,663,304)
(2,943,082)

NET CURRENT ASSETS
  
 
 
5,042,440
 
 
5,622,984

TOTAL ASSETS LESS CURRENT LIABILITIES
  
5,191,702
5,855,430

Creditors: amounts falling due after more than one year
 8 
-
(138,000)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 9 
-
(20,243)

Other provisions
 10 
(299,291)
(158,831)

  
 
 
(299,291)
 
 
(179,074)

NET ASSETS
  
4,892,411
5,538,356


CAPITAL AND RESERVES
  

Called up share capital 
 11 
386,135
386,135

Capital redemption reserve
  
136,903
136,903

Profit and loss account
  
4,369,373
5,015,318

  
4,892,411
5,538,356


Page 1

 
DATA CONVERSION SYSTEMS LIMITED
REGISTERED NUMBER: 02072115
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 profit and loss account 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: 




D J M Steven
Director

Date: 27 March 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
DATA CONVERSION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


GENERAL INFORMATION

Data Conversion Systems Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Unit 1, Buckingway Business Park, Anderson Road, Swavesey, Cambridge, CB24 4AE.

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 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:

 
2.2

TURNOVER

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue is recognised when goods are dispatched.

 
2.3

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.
The entity has chosen an amortisation method that reflects the pattern in which it expects to consume the asset's future economic benefits. Amortisation has then been applied on trademarks over a period of 10 years and on registration costs over a period of 5 years.

 
2.4

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.

Page 3

 
DATA CONVERSION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.4
TANGIBLE FIXED ASSETS (CONTINUED)

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:

Leasehold property
-
Over the period of the lease
Plant and machinery
-
33.33% straight line
Motor vehicles
-
20% straight line
Fixtures and fittings
-
33.33% straight line
Other fixed assets
-
50% straight line

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.

 
2.5

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

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 weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

 
2.7

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
DATA CONVERSION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

FOREIGN CURRENCY TRANSLATION

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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

All foreign exchange gains and losses are presented in the Profit and Loss Account within 'administrative expenses'.

 
2.11

OPERATING LEASES

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.12

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

PROVISIONS FOR LIABILITIES

A warranty provision is included based on the percentage of work carried out in the year on warranties. This is deemed to be the best estimate of the obligation at the Balance Sheet date. Provisions are charged to the Profit and Loss Account.

Page 5

 
DATA CONVERSION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.14

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 balance sheet 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 balance sheet 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 balance sheet date.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 41 (2023 - 43).

Page 6

 
DATA CONVERSION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


INTANGIBLE ASSETS




Patents
Trademarks
Total

£
£
£



COST


At 1 July 2023
75,616
169,459
245,075


Additions
5,393
-
5,393



At 30 June 2024

81,009
169,459
250,468



AMORTISATION


At 1 July 2023
75,616
80,597
156,213


Charge for the year on owned assets
1,350
27,928
29,278



At 30 June 2024

76,966
108,525
185,491



NET BOOK VALUE



At 30 June 2024
4,043
60,934
64,977



At 30 June 2023
-
88,862
88,862



Page 7
 


 
DATA CONVERSION SYSTEMS LIMITED


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


5.


TANGIBLE FIXED ASSETS






Leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Other fixed assets
Total

£
£
£
£
£
£



COST OR VALUATION


At 1 July 2023
532,260
1,176,890
22,825
140,396
111,026
1,983,397


Additions
-
10,024
-
48,493
-
58,517


Disposals
-
-
-
-
(104,816)
(104,816)



At 30 June 2024

532,260
1,186,914
22,825
188,889
6,210
1,937,098



DEPRECIATION


At 1 July 2023
449,719
1,120,843
22,825
135,400
111,026
1,839,813


Charge for the year on owned assets
48,777
57,325
-
11,714
-
117,816


Disposals
-
-
-
-
(104,816)
(104,816)



At 30 June 2024

498,496
1,178,168
22,825
147,114
6,210
1,852,813



NET BOOK VALUE



At 30 June 2024
33,764
8,746
-
41,775
-
84,285



At 30 June 2023
82,541
56,047
-
4,996
-
143,584

Page 8
 
DATA CONVERSION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£


Trade debtors
170,032
393,613

Amounts owed by group undertakings
538,733
891,200

Other debtors
155,279
344,913

Prepayments and accrued income
183,312
1,079,618

1,047,356
2,709,344



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Other loans
480,000
480,000

Trade creditors
978,565
2,228,710

Other creditors
95,032
79,569

Accruals and deferred income
109,707
154,803

1,663,304
2,943,082


Other loans comprise an interest free facility provided by directors and shareholders of the company, secured against inventories. This is repayable on demand.
Other creditors include contributions of £17,605 (2023: £17,500) payable to the Company's defined contribution pension scheme at the balance sheet date.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Other creditors
-
138,000

-
138,000


Page 9

 
DATA CONVERSION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
20,243
(174,736)


Charged to profit or loss
(20,243)
194,979



AT END OF YEAR
-
20,243

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
24,526

Unpaid pension contributions
-
(4,283)

-
20,243


10.


PROVISIONS




Warranty Provision

£





At 1 July 2023
158,831


Charged to profit or loss
140,460



AT 30 JUNE 2024
299,291

Page 10

 
DATA CONVERSION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



3,861,351 Ordinary shares of £0.10 each
386,135
386,135



12.


COMMITMENTS UNDER OPERATING LEASES

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
107,902
123,753

Later than 1 year and not later than 5 years
36,310
126,218

144,212
249,971

 
Page 11