Dinghy UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10794101 (England and Wales)

Financial Statements for the Period 1 January 2018 to 31 January 2019

for

Dinghy UK Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R G Hartley

R C Hayes

A G M Stevens

J D R Twining

D J Zanker

REGISTERED OFFICE:

9 Miller Court

Severn Drive

Tewkesbury Business Park

Tewkesbury

Gloucestershire

GL20 8DN

REGISTERED NUMBER:

10794101 (England and Wales)

SENIOR STATUTORY AUDITOR:

Charles Hinitt FCCA

AUDITORS:

Charles Hinitt & Associates Limited

Chartered Certified Accountants &

Statutory Auditors

48 Belle Vue Terrace

Malvern

Worcestershire

WR14 4QG

CURRENT ASSETS

Debtors

1,994

3,783

Cash at bank

2,662

36,565

4,656

40,348

CREDITORS

Amounts falling due within one year

365,677

201,296

NET CURRENT LIABILITIES

(361,021

)

(160,948

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(361,021

)

(160,948

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(361,022

)

(160,949

)

(361,021

)

(160,948

)

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 31 January 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 18 October 2019 and were signed on its behalf by:

A G M Stevens - Director

J D R Twining - Director

1.	STATUTORY INFORMATION

Dinghy UK Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Taxation

Taxation for the period 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 period 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

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development

expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be

demonstrated.

Going concern

During the period to 31 January 2019, the company made losses arising on the start up costs expected of a

venture of this nature. The directors, however, consider the company to be a going concern due to the continued

funding and support by the ultimate parent company of the group.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2017 - 3 ) .

4.	SECURED DEBTS

Royal Bank of Scotland holds a fixed and floating charge over the assets of the company together with certain

intellectual property and trademarks owned by the Kingsbridge Group. The debenture was created on 14

February 2019 and registered as a charge at Companies House on 28 February 2019.

5.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Charles Hinitt FCCA (Senior Statutory Auditor)

for and on behalf of Charles Hinitt & Associates Limited

6.	RELATED PARTY DISCLOSURES

Intercompany - Dinghy Limited

The immediate parent company owning 100% of Dinghy UK Limited.

At the balance sheet date Dinghy UK Limited owed £345,158 to Dinghy Limited (2017 : £200,588) which was

included in Creditors Due Within One Year.

The loan carries no liability to interest and is repayable on demand.

Intercompany - Kingsbridge Risk Solutions Limited

A member of the Kingsbridge Group.

At the balance sheet date Dinghy UK Limited owed £17,000 to Kingsbridge Risk Solutions Limited (2017 : £0).

This is included within Creditors Due Within One Year.

The loan carries no liability to interest and is repayable on demand.

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Dinghy Limited.

The ultimate controlling party is Kingsbridge Group Limited.