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Company No: 10507740 (England and Wales)

DENE COMMUNICATIONS SYSTEMS LTD

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

DENE COMMUNICATIONS SYSTEMS LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

DENE COMMUNICATIONS SYSTEMS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
DENE COMMUNICATIONS SYSTEMS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,241 1,615
1,241 1,615
Current assets
Stocks 81,117 0
Debtors 4 819,728 1,071,632
Cash at bank and in hand 571,440 1,050,941
1,472,285 2,122,573
Creditors: amounts falling due within one year 5 ( 1,459,764) ( 2,112,199)
Net current assets 12,521 10,374
Total assets less current liabilities 13,762 11,989
Provision for liabilities ( 304) ( 307)
Net assets 13,458 11,682
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 13,457 11,681
Total shareholder's funds 13,458 11,682

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Dene Communications Systems Ltd (registered number: 10507740) were approved and authorised for issue by the Director on 27 March 2025. They were signed on its behalf by:

C J Whitehead
Director
DENE COMMUNICATIONS SYSTEMS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
DENE COMMUNICATIONS SYSTEMS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dene Communications Systems Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Dene House Brook Close, Kempsey, Worcester, WR5 3LE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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 at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 4 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 January 2024 3,161 6,421 9,582
Additions 0 666 666
Disposals ( 3,161) ( 3,972) ( 7,133)
At 31 December 2024 0 3,115 3,115
Accumulated depreciation
At 01 January 2024 3,161 4,806 7,967
Charge for the financial year 0 809 809
Disposals ( 3,161) ( 3,741) ( 6,902)
At 31 December 2024 0 1,874 1,874
Net book value
At 31 December 2024 0 1,241 1,241
At 31 December 2023 0 1,615 1,615

4. Debtors

2024 2023
£ £
Trade debtors 816,574 641,496
Amounts owed by director 0 426,785
Prepayments 0 831
VAT recoverable 3,154 0
Other debtors 0 2,520
819,728 1,071,632

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 302,131 793,468
Amounts owed to director 171,930 0
Accruals and deferred income 985,703 1,317,703
Taxation and social security 0 1,028
1,459,764 2,112,199

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

7. Related party transactions

Transactions with the entity's director

At the year-end, there was a balance owed to the director of £171,930 (2023: £426,785 owed by the director). Interest has been charged at 2.25% (2023: 2%/2.25%) on overdrawn balances during the year, and the loan is repayable on demand.