15 14 DB Group Limited 02422056 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is the provision of IT services. Digita Accounts Production Advanced 6.30.9574.0 true true 02422056 2023-07-01 2024-06-30 02422056 2024-06-30 02422056 core:CurrentFinancialInstruments 2024-06-30 02422056 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 02422056 core:WithinOneYear 2024-06-30 02422056 core:PlantMachinery 2024-06-30 02422056 core:Share-basedArrangement1 2024-06-30 02422056 bus:SmallEntities 2023-07-01 2024-06-30 02422056 bus:Audited 2023-07-01 2024-06-30 02422056 bus:FilletedAccounts 2023-07-01 2024-06-30 02422056 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 02422056 bus:RegisteredOffice 2023-07-01 2024-06-30 02422056 bus:Director2 2023-07-01 2024-06-30 02422056 bus:Director3 2023-07-01 2024-06-30 02422056 bus:Director4 2023-07-01 2024-06-30 02422056 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 02422056 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02422056 bus:Agent1 2023-07-01 2024-06-30 02422056 core:OfficeEquipment 2023-07-01 2024-06-30 02422056 core:PlantMachinery 2023-07-01 2024-06-30 02422056 core:Share-basedArrangement1 2023-07-01 2024-06-30 02422056 1 2023-07-01 2024-06-30 02422056 countries:EnglandWales 2023-07-01 2024-06-30 02422056 2023-06-30 02422056 core:PlantMachinery 2023-06-30 02422056 core:Share-basedArrangement1 2023-06-30 02422056 2022-07-01 2023-06-30 02422056 2023-06-30 02422056 core:CurrentFinancialInstruments 2023-06-30 02422056 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 02422056 core:WithinOneYear 2023-06-30 02422056 core:PlantMachinery 2023-06-30 02422056 core:Share-basedArrangement1 2023-06-30 02422056 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 02422056 core:Share-basedArrangement1 2022-06-30 xbrli:pure iso4217:GBP

Registration number: 02422056

DB Group Limited

trading as Esuasive

Filleted Financial Statements

for the Year Ended 30 June 2024

 

DB Group Limited

trading as Esuasive

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 9

 

DB Group Limited

trading as Esuasive

Company Information

Directors

N Hill

C Weaver

S Hill

Registered office

St. Martin's Court
10 Paternoster Row
London
EC4M 7EJ

Auditors

Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

DB Group Limited

trading as Esuasive

(Registration number: 02422056)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

7,652

7,652

Current assets

 

Debtors

7

351,401

323,185

Cash at bank and in hand

 

1,126,032

1,063,642

 

1,477,433

1,386,827

Creditors: Amounts falling due within one year

8

(273,224)

(460,888)

Net current assets

 

1,204,209

925,939

Net assets

 

1,211,861

933,591

Capital and reserves

 

Called up share capital

120,906

120,906

Other reserves

17,404

9,945

Retained earnings

1,073,551

802,740

Shareholders' funds

 

1,211,861

933,591

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 March 2025 and signed on its behalf by:
 

.........................................
N Hill
Director

 

DB Group Limited

trading as Esuasive

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

1

General information

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

The address of its registered office is:
St. Martin's Court
10 Paternoster Row
London
EC4M 7EJ
England

Principal activity

The principal activity of the Company is the provision of IT services.

These financial statements were authorised for issue by the Board on 25 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover 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 sales/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.

 

DB Group Limited

trading as Esuasive

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

Contract revenue recognition

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

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 carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Depreciation

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:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

33% straight line

 

DB Group Limited

trading as Esuasive

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

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment,

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

DB Group Limited

trading as Esuasive

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

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.

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.

Share based payments

The Company operates an equity-settled, share-based compensation plan, under which the company
receives services from employees as consideration for equity instruments of the Company.

Equity-settled arrangements are measured at fair value at the date of the grant. The fair value is expensed on a straight-line basis over the vesting period. The amount recognised as an expense is adjusted to reflect the actual number of shares or options that will vest.

3

Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

Key sources of estimation uncertainty

Accrued/deferred income on fixed price contracts:
The company recognises revenue on fixed price contracts in proportion to the cost of work performed in
the period compared with the total work expected on the contract.. The carrying amount is £91,104 (2023 -£(89,555)).

4

Summary audit opinion

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 25 March 2025 was David Matkins, who signed for and on behalf of Bourner Bullock.

5

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 14).

 

DB Group Limited

trading as Esuasive

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

6

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 July 2023

50,177

50,177

Additions

5,062

5,062

Disposals

(24,160)

(24,160)

At 30 June 2024

31,079

31,079

Depreciation

At 1 July 2023

42,525

42,525

Charge for the year

4,785

4,785

Eliminated on disposal

(23,883)

(23,883)

At 30 June 2024

23,427

23,427

Carrying amount

At 30 June 2024

7,652

7,652

At 30 June 2023

7,652

7,652

7

Debtors

Current

2024
£

2023
£

Trade debtors

219,592

224,489

Prepayments and accrued income

129,537

35,279

Other debtors

2,272

1,788

Deferred tax asset

-

61,629

 

351,401

323,185

 

DB Group Limited

trading as Esuasive

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

32,634

50,991

Taxation and social security

113,989

74,990

Accruals and deferred income

126,601

334,907

273,224

460,888

9

Share-based payments

Enterprise Management Incentive Option Agreement

DB Group Limited operate an Enterprise Management Incentive Option Agreement for a Director.

Fair value of the option is measured at the grant date utilising the Black Scholes Model. The model is widely recognised as being appropriate to value employee share schemes. The share options have an exercise price of £1 and may only be exercised in connection with an exit event. Therefore, the vesting period is from the date of grant up to the conclusion of an exit event.


The weighted average exercise price of share options outstanding at the beginning of the period is £1.

The movements in the year were as follows:

2024
Number of share options

2023
Number of share options

At 1 July

49,118

49,118

At 30 June

49,118

49,118

Effect of share-based payments on profit or loss and financial position

The total expense recognised in profit or loss for the year was £7,459 (2023 - £7,459).

The total carrying amount of equity arising from share-based payments at the end of the year was £17,404 (2023 - £9,945).

10

Non adjusting events after the financial period

On 21 October 2024, a director exercised their option to purchase 56,897 shares for £1 each. An additional 56,897 ordinary shares were allotted for this purpose on 21 October 2024.

 

DB Group Limited

trading as Esuasive

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

11

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £0.40 (2023 - £0.75) per each Ordinary Share

48,362

90,680

 

 

12

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

16,743

6,305

The amount of non-cancellable operating lease payments recognised as an expense during the year was £16,024 (2023 - £14,699).