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REGISTERED NUMBER: 11725787 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Dragonfly Holdings Ltd

Dragonfly Holdings Ltd (Registered number: 11725787)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dragonfly Holdings Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mrs S Howard





REGISTERED OFFICE: Ground Floor
Southway House
29 Southway
Colchester
Essex
CO2 7BA





REGISTERED NUMBER: 11725787 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Dragonfly Holdings Ltd (Registered number: 11725787)

Balance Sheet
31 May 2024

2024 2023
as restated
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 567,774 599,508
Tangible assets 6 15,252 30,504
Investments 7 3,622 3,622
586,648 633,634

CURRENT ASSETS
Debtors 8 340,585 824,258
Cash at bank - 254,911
340,585 1,079,169
CREDITORS
Amounts falling due within one year 9 294,423 490,310
NET CURRENT ASSETS 46,162 588,859
TOTAL ASSETS LESS CURRENT
LIABILITIES

632,810

1,222,493

PROVISIONS FOR LIABILITIES 36,579 45,506
NET ASSETS 596,231 1,176,987

CAPITAL AND RESERVES
Called up share capital 10 1,122 1,122
Share premium 1,102 1,102
Retained earnings 594,007 1,174,763
SHAREHOLDERS' FUNDS 596,231 1,176,987

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Dragonfly Holdings Ltd (Registered number: 11725787)

Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 April 2025 and were signed by:





Mrs S Howard - Director


Dragonfly Holdings Ltd (Registered number: 11725787)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Dragonfly Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Neuro are being amortised evenly over their estimated useful life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 by management.

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.


Dragonfly Holdings Ltd (Registered number: 11725787)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company has net current assets of £46,162 (2023 - £588,859). The company also reported a pre-tax loss of £294,534 for the year.

The company is reliant on the continuing financial support of its creditors and while there are no reasons to doubt that this support will continue, inherently there can be no certainty in relation to these matters. On this basis, and having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from an inability to meet obligations as they fall due.

Investments
Investments held as fixed assets are stated at cost less provision for any diminution in value.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2023 - 43 ) .

Dragonfly Holdings Ltd (Registered number: 11725787)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


5. INTANGIBLE FIXED ASSETS
Neuro
£   
COST
At 1 June 2023 1,112,608
Additions 212,813
At 31 May 2024 1,325,421
AMORTISATION
At 1 June 2023 513,100
Amortisation for year 244,547
At 31 May 2024 757,647
NET BOOK VALUE
At 31 May 2024 567,774
At 31 May 2023 599,508

6. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023 50 50,864 50,914
Additions 448 - 448
Disposals - (8,424 ) (8,424 )
At 31 May 2024 498 42,440 42,938
DEPRECIATION
At 1 June 2023 12 20,398 20,410
Charge for year 123 11,935 12,058
Eliminated on disposal - (4,782 ) (4,782 )
At 31 May 2024 135 27,551 27,686
NET BOOK VALUE
At 31 May 2024 363 14,889 15,252
At 31 May 2023 38 30,466 30,504


Dragonfly Holdings Ltd (Registered number: 11725787)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


7. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2023
and 31 May 2024 3,622
NET BOOK VALUE
At 31 May 2024 3,622
At 31 May 2023 3,622

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 263,472 792,568
Other debtors 77,113 31,690
340,585 824,258

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 5,916 5,497
Trade creditors 135,681 202,338
Amounts owed to group undertakings 28,616 26,308
Taxation and social security 73,929 204,903
Other creditors 50,281 51,264
294,423 490,310

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
30,300 A Ordinary 1p 303 303
30,300 B Ordinary 1p 303 303
23,300 C Ordinary 1p 233 233
16,100 D Ordinary 1p 161 161
12,240 E 1p 122 122
1,122 1,122

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £354,385 (2023 - £432,615) were paid to the directors .

Dragonfly Holdings Ltd (Registered number: 11725787)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


12. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Dragonfly Topco Limited.

The ultimate controlling party is Mr R D W Mossman and Mr P R Tootell.