We Are DNA Limited
for the Year Ended 5 April 2025
We Are DNA Limited
Contents
|
Company Information |
|
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
We Are DNA Limited
Company Information
|
Directors |
M A Tarrant J M Tarrant |
|
Registered office |
|
|
Registered Number |
|
|
Accountants |
|
We Are DNA Limited
(Registration number: 08451517)
Balance Sheet as at 5 April 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Retained earnings |
|
|
|
|
Shareholders' funds |
|
|
We Are DNA Limited
(Registration number: 08451517)
Balance Sheet as at 5 April 2025
For the financial year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
|
......................................... |
We Are DNA Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
|
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). There have been no material departures from the Financial Reporting Standard 102 1A.
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. The financial statements are prepared in Pounds Sterling (£), and are rounded to the nearest pound.
Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
We Are DNA Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
The current 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.
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
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.
Website has been amortised evenly over its estimated useful life of three years.
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 provided at the following annual rates in order to write off each asset over its estimated useful life:
|
Asset class |
Depreciation method and rate |
|
Plant and machinery |
25% on cost |
|
Fixtures and fittings |
25% on cost |
|
Computer equipment |
25% on cost |
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.
We Are DNA Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Hire purchase and leasing commitments
Rentals paid 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.
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.
We Are DNA Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
Defined contribution pension obligation
The company operates a define contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Once the contributions have been paid, the company has no further payment obligations.
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
We Are DNA Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
|
Intangible assets |
|
Goodwill |
Website |
Total |
|
|
Cost or valuation |
|||
|
At 6 April 2024 |
|
|
|
|
At 5 April 2025 |
|
|
|
|
Amortisation |
|||
|
At 6 April 2024 |
|
|
|
|
At 5 April 2025 |
|
|
|
|
Carrying amount |
|||
|
At 5 April 2025 |
- |
- |
- |
|
At 5 April 2024 |
- |
- |
- |
|
Tangible assets |
|
Plant and machinery |
Fixtures and fittings |
Computer equipment |
Total |
|
|
Cost or valuation |
||||
|
At 6 April 2024 |
|
|
|
|
|
Additions |
- |
- |
|
|
|
At 5 April 2025 |
|
|
|
|
|
Depreciation |
||||
|
At 6 April 2024 |
|
|
|
|
|
Charge for the year |
- |
|
|
|
|
At 5 April 2025 |
|
|
|
|
|
Carrying amount |
||||
|
At 5 April 2025 |
- |
|
|
|
|
At 5 April 2024 |
- |
|
|
|
We Are DNA Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
|
Debtors |
|
Note |
2025 |
2024 |
|
|
Trade debtors |
|
|
|
|
Amounts owed from related parties |
- |
|
|
|
Prepayments |
|
|
|
|
Other debtors |
|
|
|
|
|
|
|
Creditors |
|
Due within one year |
Note |
2025 |
2024 |
|
Bank loans and overdrafts |
19,800 |
19,800 |
|
|
Trade creditors |
|
|
|
|
Amounts owed to related parties |
|
- |
|
|
Taxation and social security |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Other creditors |
|
|
|
|
|
|
|
2025 |
2024 |
|
|
Due after one year |
||
|
Bank loans |
|
|
|
|
|
At 5 April 2025, the company had secured borrowings of £75,900 (2024 - £95,700) which is secured by fixed and floating charges over the assets of the company.
We Are DNA Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
|
Financial commitments, guarantees and contingencies |
Pension commitments
The entity operates a defined contributions pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £3,245 (2024 - £3,233) were payable to the fund at the reporting date.
Off balance sheet commitments
At the year end the company had future minimum lease payments due under non-cancellable operating leases totalling £24,641 (2024 - £47,151).
We Are DNA Limited
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025
|
Related party transactions |
Loans to related parties
|
2025 |
Key management |
Total |
|
At start of period |
|
|
|
Advanced |
|
|
|
Repaid |
( |
( |
|
At end of period |
- |
- |
|
|
||
|
2024 |
Key management |
Total |
|
At start of period |
|
|
|
Advanced |
|
|
|
Repaid |
( |
( |
|
At end of period |
|
|
|
|
||
Terms of loans to related parties
Loans from related parties
|
2025 |
Key management |
Total |
|
Advanced |
|
|
|
At end of period |
|
|
|
|
||
Terms of loans from related parties