|
DT Global International Development UK Ltd
Registered number: 02651349
Annual Report
For the year ended 30 September 2025
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
COMPANY INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Leather Market Unit 11.3.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chartered Accountants & Statutory Auditor
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
CONTENTS
|
|
|
|
|
|
|
|
|
Independent Auditor's Report
|
|
Statement of Comprehensive Income
|
|
Statement of Financial Position
|
|
Statement of Changes in Equity
|
|
Notes to the Financial Statements
|
|
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Directors present the Strategic Report for year ended 30 September 2025.
Financial results including Key Performance Indicators
DT Global International Development UK Limited (DT Global UK) ('the company') is an international development consultancy based in London. It is part of the international DT Global Group of companies that has a stated goal of positively impacting 500 million lives by 2045.
The business manages and delivers large-scale programmes in complex environments and provides innovative technical advisory expertise, supporting traditional bilateral and multilateral development clients as well as private sector clients. The focus is to maximise sustainable development impact across a wide range of practice areas. These include Conflict Prevention, Stabilisation & Transition; Economic Growth; Environment & Infrastructure; Governance; Human Development; and Innovation programme management.
The financial performance of the company has been monitored against the following key financial performance indicators: total turnover, gross profit, administrative expenses, and profit before taxation. The financial performance for the period is set out in the following table:
The Directors are pleased to report the return to profitability of the business.
The prior year annual report stated that the business stabilisation priorities implemented over the prior two years were taking hold and that the business remained on a trajectory to return to profit in 2025. The Directors are delighted that this has now been positively affirmed. This positive result was underpinned by a strong portfolio of work commencing early in quarter one (October – December 2024), secured through business development successes during the prior two years. Two key programmes commenced, each in support of the UK Aid Programme through the Foreign, Commonwealth & Development Office (FCDO). First to commence in November was the Nepal Local Infrastructure Support Programme (LISP) with a budget of £19.5 million, followed in January 2025 by the £25 million budget for the Sinaan Programme in Somalia (formerly known as Green Urban Growth).
DT Global UK continues to be a Key Strategic Supplier to FCDO, something that the business takes immense pride in. Through this, the business focuses on honouring its commitment to adding value to the UK international development programming in partnership with the FCDO. Our strong performance has been recognised by FCDO evidenced through their bi-annual performance scorecards. The latest scorecard rates DT Global UK 3.1% above the average of all other suppliers, with our performance rating improving compared to the previous reporting period.
- 1 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
As the financial year commenced our strategy was reaffirmed that through FY25 “Team UK will be back to sustainable profitability, with a backlog built to generate accelerated bottom line growth, and a reputation as FCDOs number one development partner.” The strategy remains focused on a strong product, market, and client mix, and the workforce shape and composition to both navigate the market lull, as well as strengthen the business for a sustainable future. This purposefully aligned with the strategic intent that drove FY24, building the base for a strong FY25. Nevertheless, FY25 was punctuated with some significant challenge and disruption, and the Directors are grateful for the way that the business management team have successfully dealt with these.
While Q1 was showing signs of positive trajectory, the business was initially impacted by the shuttering of the United States ‘USAID’ programme, soon after the confirmation of the new US President. The business held several contracts that were USAID funded, which were immediately paused, and ultimately terminated. These terminations eroded existing revenue and an anticipated strong forward outlook where all pipeline possibilities associated with this contract were also cancelled.
Soon after the USAID announcement, the UK government announced its own intention to reduce the UK Aid Budget from 0.5% to 0.3% of GNI by 2027. The immediate consequence of this announcement was another pause of forward procurement activity, including pausing some procurements that were live. This pause impacted tendering activity for close to six months, and saw several pipeline opportunities cancelled, as the FCDO explored options to navigate these significant budget cuts.
In response to these challenges, early and decisive overheads adjustments for the financial year were made, including a small but essential workforce reduction. Additionally, the business focused effort on its existing “balanced diversification” strategy and other initiatives to ensure overall financial performance for the year was not overly impacted. Our 'balanced diversification' approach has proven effective and remains a core priority to improve any downside impact from UK Aid budget changes. Whilst the priority is FCDO programming, strategic and tactical diversification decisions are made where we can expand existing programming into new markets or with new clients and leverage the whole of DT Global group's global footprint.
It is the combination of these efforts and initiatives that drove the strong business performance for FY25. The issues the management team navigated are industry-wide and global. While the Directors derive no joy from the reality that the impact felt by the business is less than many in the industry (globally), being less exposed to the fallout from USAID than some others was a protection. The Directors are pleased with the performance of the business through a challenging year, delivering positively against each element of the business’ strategic intent.
- 2 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Principal risks and uncertainties
|
There remains uncertainty about how exactly the UK government, principally through FCDO, plans to execute on its decision to reduce the aid budget over two years. The government’s messaging has suggested they do not want the budget to fall off a cliff in two years, as had been experienced by the global industry in previous aid budget cuts. While FCDO’s pipeline has gradually re-opened, they have made it clear they will not update their forward pipeline until after the Autumn Statement, and there is some expectation that clarity may not be known until later in 2026 and into 2027.
Focusing on our people remains a priority. Our staff are essential to DT Global UK's success and as such the company must attract and retain the best staff with the right skills and experience. To do this the company continues to focus on supporting and developing its people, nurturing a strong can-do, enthusiastic, and team-based learning culture throughout its operations. Guiding this is the recently launched DT Global UK Happiness Strategy, designed to empower our people to thrive, and drive towards enhanced bottom-line performance for the business.
Clear risks present in working in fragile and conflicted states. The world's poorest and most vulnerable people often live in fragile and conflicted states and as such the company is committed to helping these people in these territories. To ensure the safety and security of its employees and contractors the company undertakes risk assessments and implements project specific security and health and safety processes and procedures.
With a focus on growth comes a priority to responsibly manage working capital requirements. The clients of the company are increasingly requiring payments-by-results or milestone-based payment contracts which require pre-financing and capital being tied up for longer periods of time before it can be invoiced and paid. In response the company monitors cash flow on a regular basis and undertakes an action review of all debtors and work in progress on at least a monthly basis.
The company will continue to prioritise cash flow and working capital so that it can meet the evolving requirements of our clients regarding payments-by-results, milestone-based payments and capital works pre-financing.
After a period of re-organisation and restructuring, and a strengthened backlog of work, the company is now in a strong position to leverage from this position to expand operations with existing and new clients and withstand any business shocks that may emerge with the shrinking UK aid budget.
- 3 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Section 172 (1) statement
|
In accordance with the provisions of The Companies (Miscellaneous Reporting) Regulations 2018, DT Global UK is required to include a statement in its Strategic Report describing how the Directors have had regard to the matters set out in S172 (1) (a) – (f) of the Companies Act 2006 for the period ending 30 September 2025.
The company remains focused on engaging with its stakeholders and understanding the main issues to make informed decisions at Board level. The Board considers any impact that decision may have on its stakeholders and to the matters detailed in paragraph a-f of Section 172 of the Companies Act 2006.
The company's Board of Directors consider the likely consequences of any decision in the long term through risk assessment, mitigation and management of the controls, systems, and processes in place. The company also has sophisticated forecasting, business planning, project management and reporting systems and procedures in place.
The relationships with stakeholders are considered by the Board of Directors when making decisions and the impact these decisions may have on stakeholders. Below are DT Global UK’s key stakeholders and how the company engages with them. The Directors understand that not every decision they make will result in a positive outcome for all stakeholders. However, they aim to always take them into consideration alongside the company’s purpose, values, and strategic priorities.
Employees - Our people are essential to our success. To attract and retain the best people, the company continually looks for effective ways to engage with and reward its employees. It offers a wide range of flexible benefits, including healthcare and pension plans. The company acts to protect jobs by pursuing a profitable growth strategy, managing costs tightly ensures that resources are best deployed. The company is committed to increasing employee engagement and involvement through; a monthly Managing Director check-in including an open Q&A session; employee opinion surveys; and open and transparent two-way communication between the company and its employees. Through these forums and channels employees have opportunities to express their views and opinions on company strategy, direction, and decisions. Employees are made aware of the financial performance of the company via the above forums and channels, email updates, all employee meetings, etc. Late in FY25, the DT Global UK Happiness Strategy was launched. The Strategy’s stated vision is to “be a trusted, purpose-driven, and joyful place to work in international development - where every colleague feels valued, supported, and inspired to create lasting impact.” The Strategy is informed by an increasing body of research linking workplace happiness to improved bottom-line performance.
During the reporting period, Directors met monthly at Executive Leadership team meetings and to discuss the business in detail, including initiatives related to employees. In between these routine meetings the Managing Director has frequent ad hoc meetings with the People team and employees.
Customers - Our customers are a key part of our business, and our people talk to them every day to understand their concerns and to work with them to support mutual goals. The company aims to exceed our customer expectations every time and makes its business decisions accordingly. We appoint Project Directors to all our projects who liaise with senior customer representatives and respond positively to their concerns, requests, and feedback.
Suppliers - Our subconsultants, partners and independent consultants are fundamental to our business. Our strong long-term working relationships with our suppliers are important to ensure the efficiency of the company’s operations and we pride ourselves on working fairly with all our suppliers.
- 4 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Section 172 (1) statement (continued)
|
Beneficiaries - A key part of our culture is recognising that our beneficiaries are the governments and people that benefit from our work and society in general. We put these groups at the centre of what we do. We always aim to deliver positive impacts for our beneficiaries in all our work. Each contract we enter for a programme we are to manage clearly identifies the relevant stakeholders for the programme, guiding how we should engage. This will often include some formal structures that also include the client. Increasingly in contracts, specific KPls are set relating to strategic partnerships and stakeholder relations, ensuring we maintain this focus. e.g. "Ensure good access is maintained across government departments, private sector and civil society with evidence or work progressing from key stakeholders."
The community - We recognise the importance of having strong working relationships with our local communities around all our company and project offices overseas. Our approach ensures alignment with client's commitment to social value creation and supply chain strengthening throughout programme implementation. Our obligation is to foster co-creation and demonstrate capacity and readiness to influence staff, suppliers, customers and communities throughout the delivery of the contract to support the programme outcome e.g., through proactive engagement, iterative co-design, capacity-building across the delivery chain and with external stakeholders, partnering/collaborating.
Environment - We strive to make the world a better place. Much of our work is focused on reducing the impacts of and adapting to climate change, waste and water management, resilient infrastructure, plastics reduction, etc.
As a company we know that integrity, hard work, quality, and responsibility are key to building our business. On that basis, we strive to maintain a reputation for high standards of business conduct when acting with all our stakeholders.
This report was approved by the Board and signed on its behalf by:
- 5 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Directors present their report and the audited financial statements for the year ended 30 September 2025.
The principal activity of the company is technical and programme management of international aid and development activities.
The profit for the year, after taxation, amounted to £332,000 (2024: loss of £558,000).
The Directors do not recommend the payment of a dividend for the year (2024: £nil).
The Directors who served during the year to the date of this report were:
|
|
|
|
M Garron Carrillo De Albornoz (resigned 4 April 2025)
|
M A Honey (appointed 4 April 2025)
|
Qualifying third party indemnity provisions
|
The company has made qualifying third-party indemnity provisions for the benefit of its Directors which were made during the year and remain in force at the date of this report. No claim or notice of claim in respect of these indemnities has been received in the year.
Directors' responsibilities statement
|
The Directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
- 6 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Directors' responsibilities statement (continued)
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Risk management
The Directors regularly review the financial requirements of the company and the risks associated therewith. The company does not use complicated financial instruments. The company's operations are primarily financed from permanent equity together with borrowings from the DT Global Group as a part of a global Treasury arrangement. In addition the company has other financial instruments such as trade debtors and trade creditors that directly arise from the company's operations.
Liquidity risk
The company compiles regular cashflow forecasts to ensure it has sufficient funds available to meet its day to day operations and to fund growth opportunities. The forecasts that identify the company's liquidity requirements are reviewed on a regular basis by local and group management. Where gaps are identified, funding requests are made to the DT Global Treasury team and transfers are made to manage the gaps.
Interest rate risk
The company no longer has any bank debt and as such is protected from any Bank of England base rate changes. There is no interest payable on loans or cash transfers provided as part of the DT Global Group Treasury function.
The Directors have assessed the company's ability to continue as a going concern and, given the support indicated from the Executive Leadership Team of the DT Global Group through the provision of a letter of support from the company's ultimate parent, they have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. In making this assessment, the Directors considered the strength of the DT Global Group, the results for the year, expectations of future trading and the availability of continued funding. On the basis of this information the Directors are satisfied that the company will continue as a going concern and so the financial statements have been prepared on this basis.
Matters covered in the Strategic Report
|
The company has chosen in accordance with Companies Act 2006, s414C(11) to set out in the company's Strategic Report information required by Schedule 7 to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008. Certain matters which are required to be disclosed in the Directors’ Report have been omitted as they are included in the Strategic Report. These matters include future developments.
- 7 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Disclosure of information to auditor
|
Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:
∙so far as the Director is aware, there is no relevant audit information of which the company's auditor is unaware; and
∙the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Economic impact of global events
|
UK businesses are currently facing many uncertainties such as the consequences of environmental sustainability and geopolitical events such as the ongoing conflict in the Middle East. These uncertainties have contributed to an environment where there exists a range of issues and risks, including inflation, rising interest rates, labour shortages, disrupted supply chains and new ways of working.
The Directors have carried out an assessment of the potential impact of these uncertainties on the business, including the impact of mitigation measures, and have concluded that these are non-adjusting events with the greatest impact on the business expected to be from the economic ripple effect on the global economy. The Directors have taken account of these potential impacts in their going concern assessment.
The Company continues to work with its partners to minimise any impacts of these events and maximise the realisation of any opportunities they may provide to the business.
Post balance sheet events
|
On 30 April 2026, DT Global UK closed on a transaction to acquire Development Pathways who is a leading global consultancy specialising in designing and developing social protection systems. Social protection systems are a fundamental way that governments can guard people from poverty and vulnerability. Since 2010, the consultancy has delivered over 150 projects for clients such as FCDO, GIZ, KFW, DFAT, the UN, and World Bank and with country governments across our operational regions.
This acquisition brings together Development Pathways’ deep expertise in evidence-based policy, social protection systems, and digital systems design and development with DT Global’s global scale, delivery capability, and operational strength. Development Pathways’ expertise strengthens our ability to support a range of clients with a range of services at a time of significant global challenges. Both DT Global and Development Pathways are purpose driven organisations with a shared desire to make sustainable positive impact.
As DT Global focuses on expanding the services we can offer to new and existing clients, Development Pathways offers a strong set of advisory and digital technology services, and experience with existing and new clients across our regions, that can help us to expand our offerings.
The auditor, Forvis Mazars LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
- 8 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
This report was approved by the board and signed on its behalf by:
- 9 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
Opinion
We have audited the financial statements of DT Global International Development UK Ltd (the ‘company’) for the year ended 30 September 2025 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and notes to the financial statements, including a summary of significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
∙give a true and fair view of the state of the company’s affairs as at 30 September 2025 and of its profit for the year then ended;
∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The Directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
- 10 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of Directors' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit.
- 11 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
Responsibilities of Directors
As explained more fully in the Directors' responsibilities statement set out on pages 6 and 7, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors intend either to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
Based on our understanding of the company and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation, and anti-money laundering regulation.
To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:
∙Inquiring of management and, where appropriate, those charged with governance, as to whether the company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;
∙Inspecting correspondence, if any, with relevant licensing or regulatory authorities;
∙Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and
∙Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud.
We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislation, pension legislation, and the Companies Act 2006.
- 12 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
In addition, we evaluated the Directors' and management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of override of controls, and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to the valuation of provisions, revenue recognition (which we pinpointed to the occurrence and accuracy assertions), and significant one-off or unusual transactions.
Our audit procedures in relation to fraud included but were not limited to:
∙Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;
∙Gaining an understanding of the internal controls established to mitigate risks related to fraud;
∙Discussing amongst the engagement team the risks of fraud; and
∙Addressing the risks of fraud through management override of controls by performing journal entry testing.
There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of the audit report
This report is made solely to the company's members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body for our audit work, for this report, or for the opinions we have formed.
Gerhard Bonthuys (Senior statutory auditor)
For and on behalf of Forvis Mazars LLP
Chartered Accountants and Statutory Auditor
2nd Floor
6 Sutton Plaza
Sutton Court Road
Sutton
Surrey
SM1 4FS
1 May 2026
- 13 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest receivable and similar income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) for the financial year
|
|
|
|
Other comprehensive income
|
|
|
|
Total comprehensive income/(loss) for the year
|
|
|
|
The Statement of Comprehensive Income has been prepared on the basis that all operations are continuing operations.
|
The notes on pages 17 to 32 form part of these financial statements.
|
- 14 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
REGISTERED NUMBER: 02651349
STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital contribution reserve
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 17 to 32 form part of these financial statements.
- 15 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
|
|
|
Capital contribution reserve
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive loss for the year
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income for the year
|
|
|
|
|
|
Total comprehensive loss for the year
|
|
|
|
|
|
Total transactions with owners
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income for the year
|
|
|
|
|
|
Total comprehensive income for the year
|
|
|
|
|
|
Total transactions with owners
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The notes on pages 17 to 32 form part of these financial statements.
|
- 16 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
DT Global International Development UK Ltd is a private company limited by shares, incorporated and registered in England and Wales. The registered number of the company is 02651349. The address of its registered office is The Leather Market Unit 11.3.1, 11-13 Weston Street, London, England, SE1 3ER.
The principal activity of the company is technical and programme management of aid and development activities.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).
The financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the company operates and is rounded to the nearest thousand pounds.
The following principal accounting policies have been applied:
|
|
|
Financial Reporting Standard 102 - reduced disclosure exemptions
|
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of DT Global Holdings UK Ltd as at 30 September 2025 and these financial statements may be obtained from The Leather Market Unit 11.3.1, 11-13 Weston Street, London, England, SE1 3ER.
- 17 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
|
|
|
Exemption from preparing consolidated financial statements
|
The company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
The financial statements present information about the company as an individual entity and not about its group.
The Directors have assessed the company's ability to continue as a going concern and, given the support indicated from the Executive Leadership Team of the DT Global Group through the provision of a letter of support from the company's ultimate parent, they have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. In making this assessment, the Directors considered the strength of the DT Global Group, the results for the year, expectations of future trading and the availability of continued funding. On the basis of this information the Directors are satisfied that the company will continue as a going concern and so the financial statements have been prepared on this basis.
|
|
|
Foreign currency translation
|
Functional and presentation currency
The company's functional and presentation currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency denominated items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
All foreign exchange gains and losses are recognised in profit or loss within 'administrative expenses'.
- 18 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
Turnover represents the value of services provided to clients, net of VAT and trade discounts.
Turnover is recognised to the extent that it is probable that economic benefits will flow to the company and can be reliably measured. In the case of time charged work, turnover is calculated on the basis of time spent at the agreed fee rates and in the case of fixed fee contracts, the value of services provided as a proportion of the total value of the contract.
Long term contracts
The company has a number of long-term contracts that span more than one financial period. In calculating turnover on such fixed fee contracts, the percentage of completion method is used, based on a review of contract progress and the proportion of contract work completed in relation to the total contract works. Assessment of the proportion of contract work completed is reviewed regularly by the experienced professionals assigned to the contract and is based on costs incurred to date, compared to the estimated cost required to complete the contract. Some contracts specify certain project milestones to be achieved, and turnover is recognised upon reaching the required milestone. Profits are only recognised where they can be reliably measured, and the outcome of the contract is reasonably certain. Full provision is made for all known or anticipated losses on each contract immediately such losses are identified. Contract costs include direct staff costs and an appropriate allocation of overheads and disbursements.
Contract claims or variations are recognised only when there is reasonable certainty that economic benefits will flow to the company.
Turnover earned to date less amounts billed on account are included within debtors as amounts recoverable on contracts. Amounts billed to clients are recorded in trade debtors less any provision for bad debts. To the extent that fees paid on account exceed the value of work performed, they are included within creditors as payments received on account.
|
|
|
Operating leases: the company as lessee
|
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
|
|
|
Interest receivable and similar income
|
Interest receivable and similar income is recognised in profit or loss using the effective interest method.
- 19 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when the services are rendered. Amounts not paid are shown in other creditors as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Tangible assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Office and computer equipment
|
|
|
|
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss within 'administrative expenses'.
Depreciation of tangible assets is recognised in profit or loss within 'administrative expenses'.
- 20 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
Investments in subsidiaries are measured at cost less accumulated impairment. Investments are assessed for impairment at each reporting date, and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss within 'administrative expenses'.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
|
|
|
Cash and cash equivalents
|
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
|
|
|
Provisions for liabilities
|
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefits, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured as the best estimate, at the reporting date, of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss. When payments are eventually made, they are charged to the provision in the Statement of Financial Position.
- 21 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss, then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
- 22 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
|
|
|
Financial instruments (continued)
|
Financial liabilities (continued)
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
|
|
Judgements in applying accounting policies and key sources of estimation uncertainty
|
In the application of the company's accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
(i) Projects
For fixed-fee, milestone and deliverables-based projects, Project Managers, in conjunction with Project Accountants, estimate the revenue to be recognised based on an estimate of the percentage of the total value of the work done at the end of each month. This estimate is then reviewed by the Project Managers and Directors at a monthly project review meeting.
- 23 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
3.Judgements in applying accounting policies (continued)
(ii) Provisions
Any accruals and provisions are based on an estimate of costs that have been incurred, but not yet billed or, on the Directors’ estimate of potential costs that could be incurred to complete the work required to remedy any project issues. Such accruals and provisions are reviewed by the Project Managers and Directors on a monthly basis.
|
|
|
|
|
An analysis of turnover by class of business is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Management and engineering consultancy fees and associated expenses
|
|
|
|
|
|
|
|
Analysis of turnover by country of destination:
|
|
|
|
|
The operating loss is stated after charging/(crediting):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation of tangible assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the audit of the company's financial statements
|
|
|
|
|
In respect of taxation compliance services
|
|
|
|
|
In respect of all other non-audit services
|
|
|
- 24 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
|
|
|
|
|
Staff costs, including the Directors' remuneration, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of defined contribution scheme
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The average monthly number of employees, including the Directors, during the year was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Management and technical staff
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company contributions to defined contribution pension schemes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The highest paid Director received remuneration of £176,229 (2024: £24,113).
The value of the company's contributions paid to a defined contribution pension scheme in respect of the highest paid Director amounted to £nil (2024: £3,515).
Management considers the Directors to be the only key management personnel of the company.
|
|
|
Interest receivable and similar income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other interest receivable
|
|
|
- 25 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
|
|
|
|
|
|
|
Total tax charge for the year
|
|
|
|
|
Factors affecting tax charge for the year
|
|
|
The tax assessed for the year is lower than (2024: higher than) the standard rate of corporation tax in the UK of25% (2024: 25%). The differences are explained below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) before tax multiplied by standard rate of corporation tax in the UK of 25% (2024: 25%)
|
|
|
|
|
|
|
|
|
|
Tax losses (utilised)/not recognised
|
|
|
|
|
Expenses not deductible for tax purposes
|
|
|
|
|
Total tax charge for the year
|
|
|
|
|
The deferred tax asset is determined by and sensitive to, the future forecasted profits of the company. The deferred tax asset recognised in the current year amounts to £nil (2024: £nil). At 30 September 2025, the company had an unrecognised gross deferred tax asset of £682,769 (2024: £741,638) relating to taxable losses incurred in 2024 and previous years and accelerated capital allowances.
|
- 26 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
|
|
|
Office & computer equipment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- 27 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
|
|
Investments in subsidiary companies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following were subsidiary undertakings of the company:
|
|
|
|
|
|
|
|
|
|
|
16 Adelaide Street, Freetown, Sierra Leone
|
International aid and development
|
|
|
|
|
|
1500 Wilson Blvd, Suite 1600. Arlington, VA 22209, USA
|
|
|
|
- 28 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
|
|
Due after more than one year
|
|
|
|
|
Amounts owed by group undertakings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed by group undertakings
|
|
|
|
|
Amounts recoverable on contracts
|
|
|
|
|
|
|
|
|
|
Prepayments and accrued income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed by group undertakings are unsecured, interest-free and payable on demand.
Trade debtors are stated at net of a provision of £nil (2024: £100,375).
|
|
|
Cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- 29 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings
|
|
|
|
|
|
|
|
|
|
Other taxation and social security
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings are unsecured, interest-free and repayable on demand.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Project settlement provision
|
|
|
|
|
|
|
The project settlement provision at 30 September 2025 relates to anticipated costs for settling any project disputes as at that date. Such costs are regularly reviewed by the company's management in conjuction with professional advice.
|
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
|
|
250,000 (2024: 250,000) ordinary shares of £1 each
|
|
|
|
|
The company has one class of ordinary shares; each share has attached to it full voting, dividend and capital distribution rights.
|
- 30 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Capital contribution reserve
This reserve relates to the contributions made by a former parent company in relation to paying off the company's overdraft and loans as part of the acquisition.
Equity reserve
This represents capital contributions made by the parent company in relation to share-based payment.
Profit and loss account
This reserve represents the cumulative profits and losses of the company, less any dividends paid.
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £275,000 (2024: £111,000). Contributions payable to the fund at the year-end amounted to £19,576 (2024: £21,702).
|
|
Commitments under operating leases
|
|
|
At 30 September 2025 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Later than 1 year and not later than 5 years
|
|
|
|
|
|
|
|
|
|
Related party transactions
|
|
|
The company has taken advantage of the exemption under FRS 102 section 33 related parties not to disclose transactions with other wholly owned group companies on the basis that group accounts are prepared. All other related party transactions have been disclosed.
|
- 31 -
|
|
DT GLOBAL INTERNATIONAL DEVELOPMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
|
|
Post balance sheet events
|
On 30 April 2026, DT Global UK closed on a transaction to acquire Development Pathways who is a leading global consultancy specialising in designing and developing social protection systems. Social protection systems are a fundamental way that governments can guard people from poverty and vulnerability. Since 2010, the consultancy has delivered over 150 projects for clients such as FCDO, GIZ, KFW, DFAT, the UN, and World Bank and with country governments across our operational regions.
This acquisition brings together Development Pathways’ deep expertise in evidence-based policy, social protection systems, and digital systems design and development with DT Global’s global scale, delivery capability, and operational strength. Development Pathways’ expertise strengthens our ability to support a range of clients with a range of services at a time of significant global challenges. Both DT Global and Development Pathways are purpose driven organisations with a shared desire to make sustainable positive impact.
As DT Global focuses on expanding the services we can offer to new and existing clients, Development Pathways offers a strong set of advisory and digital technology services, and experience with existing and new clients across our regions, that can help us to expand our offerings.
The immediate parent company and Relevant Legal Entity is DT Global Holdings UK Ltd, a company incorporated in England and Wales. Its registered office address is The Leather Market Unit 11.3.1, 11-13 Weston Street, London, England, SE1 3ER.
The ultimate parent company is DT Global L.P., a partnership registered in Bermuda.
DT Global Holdings UK Ltd is the parent undertaking of the smallest and largest group which consolidates the financial information of the company. The consolidated financial statements are publicly available on Companies House.
- 32 -
|