REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
DVK Management Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
DVK Management Limited |
DVK Management Limited (Registered number: 09668931) |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
DVK Management Limited |
Company Information |
for the Year Ended 31 July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
130A Darkes Lane |
Potters Bar |
Hertfordshire |
EN6 1AF |
DVK Management Limited (Registered number: 09668931) |
Balance Sheet |
31 July 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | 8 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DVK Management Limited (Registered number: 09668931) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
DVK Management Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Computer equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Going concern |
The financial statements have been prepared on a going concern basis. |
The directors have consider that the company will continue in it's operational existence in to the foreseeable future. |
The directors are of the opinion that the company will improve and generate sufficient funds in the foreseeable future to pay its debts and liabilities as and when they arise. The company as at the year end 31st July 2024 had net current liabilities of £6,954 (2023: £1,901).The company it was dormant / not trading from the date of incorporation until 31st July 2022. |
The director of the company has provided assurances that he will continue supporting the company by providing financial assistance as and when it is needed. This will also assist the company to meet its current obligations as they fall due. |
DVK Management Limited (Registered number: 09668931) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
2. | ACCOUNTING POLICIES - continued |
Creditors |
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
Provisions |
Provisions (ie./ liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 August 2023 |
and 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Directors' current accounts | 23,635 | 11,486 |
Accrued expenses |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.24 | 31.7.23 |
value: | £ | £ |
Ordinary | £1.00 | 30 | 30 |
DVK Management Limited (Registered number: 09668931) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
8. | RESERVES |
Retained |
earnings |
£ |
At 1 August 2023 | ( |
) |
Deficit for the year | ( |
) |
At 31 July 2024 | ( |
) |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with its directors and shareholders. |
10. | POST BALANCE SHEET EVENTS |
This ongoing Russia - Ukraine conflict has resulted in going concern becoming a significant risk. The United States and Europe have avoided direct military conflict with Russia amid its conflict with Ukraine. They have however used a set of financial sanctions to limit Russia's access to financial resources. The impact of the sanctions may result in difficulties for the company to operate. Neither DVK Management Limited nor the owners are currently on the sanctions list at the time of this report, however this may change as the situation changes. |
The ongoing Israel - Gaza and Middle East conflict |
The ongoing Israel - Gaza conflict has resulted in no major impact to cause significant operational risks and that the company continues to assess the nature and extent of any risks and uncertainties arising from these events. |
11. | GOING CONCERN CONSIDERATION |
The Company's management does not see a severe impact of COVID-19 outbreak to its activity. The Company tested the financial impact on the following areas of financial statements that can be affected: |
- Breach of trade contracts |
- Revenue |
- Cost of sales |
- Inventories fair value measurements |
- Debt repayment |
12. | DEBTORS |
Short term debtors are measured at a transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised costs determined using the effective interest method, less any impairments losses for bad and doubtful debts. |