DecisionString Limited 30/11/2019 iXBRL

DecisionString Limited 30/11/2019 iXBRL

DECISIONSTRING LIMITED - Company Information

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30/11/2019 2019-11-30 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2018-12-01 Sage Accounts Production 20.0 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 02560724 2018-12-01 2019-11-30 02560724 2019-11-30 02560724 2018-11-30 02560724 2017-12-01 2018-11-30 02560724 2018-11-30 02560724 bus:RegisteredOffice 2018-12-01 2019-11-30 02560724 bus:LeadAgentIfApplicable 2018-12-01 2019-11-30 02560724 bus:Director1 2018-12-01 2019-11-30 02560724 bus:CompanySecretary1 2018-12-01 2019-11-30 02560724 core:FurnitureFittingsToolsEquipment 2018-11-30 02560724 core:WithinOneYear 2019-11-30 02560724 core:WithinOneYear 2018-11-30 02560724 core:FurnitureFittingsToolsEquipment 2018-12-01 2019-11-30 02560724 core:ShareCapital 2019-11-30 02560724 core:ShareCapital 2018-11-30 02560724 core:RetainedEarningsAccumulatedLosses 2019-11-30 02560724 core:RetainedEarningsAccumulatedLosses 2018-11-30 02560724 core:FurnitureFittingsToolsEquipment 2018-11-30 02560724 bus:Director1 2018-11-30 02560724 bus:Director1 2019-11-30 02560724 bus:Director1 2017-11-30 02560724 bus:Director1 2018-11-30 02560724 bus:Director1 2017-12-01 2018-11-30 02560724 bus:SmallEntities 2018-12-01 2019-11-30 02560724 bus:AuditExemptWithAccountantsReport 2018-12-01 2019-11-30 02560724 bus:FullAccounts 2018-12-01 2019-11-30 02560724 bus:SmallCompaniesRegimeForAccounts 2018-12-01 2019-11-30 02560724 bus:PrivateLimitedCompanyLtd 2018-12-01 2019-11-30 02560724 core:ComputerEquipment 2018-11-30 02560724 core:ComputerEquipment 2018-12-01 2019-11-30 02560724 core:ComputerEquipment 2019-11-30
Company registration number: 02560724
DecisionString Limited
Unaudited filleted financial statements
30 November 2019
DecisionString Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
DecisionString Limited
Directors and other information
Director Mr T A Payne
Secretary Mrs A Payne
Company number 02560724
Registered office Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
DecisionString Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of DecisionString Limited
Year ended 30 November 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DecisionString Limited for the year ended 30 November 2019 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the director of DecisionString Limited, as a body, in accordance with the terms of our engagement letter dated 19 June 2019. Our work has been undertaken solely to prepare for your approval the financial statements of DecisionString Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DecisionString Limited and its director as a body for our work or for this report.
It is your duty to ensure that DecisionString Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of DecisionString Limited. You consider that DecisionString Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of DecisionString Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
26 March 2020
DecisionString Limited
Statement of financial position
30 November 2019
2019 2018
Note £ £ £ £
Fixed assets
Tangible assets 5 691 1,658
_______ _______
691 1,658
Current assets
Debtors 6 15,138 16,805
Cash at bank and in hand 15,281 18,248
_______ _______
30,419 35,053
Creditors: amounts falling due
within one year 7 ( 23,295) ( 29,397)
_______ _______
Net current assets 7,124 5,656
_______ _______
Total assets less current liabilities 7,815 7,314
Provisions for liabilities ( 130) ( 315)
_______ _______
Net assets 7,685 6,999
_______ _______
Capital and reserves
Called up share capital 3 3
Profit and loss account 7,682 6,996
_______ _______
Shareholders funds 7,685 6,999
_______ _______
For the year ending 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 26 March 2020 , and are signed on behalf of the board by:
Mr T A Payne
Director
Company registration number: 02560724
DecisionString Limited
Notes to the financial statements
Year ended 30 November 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, Hertfordshire, AL5 4EE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - Straight line over 4 years
Computer equipment - Straight line over 3 years
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2018: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Computer equipment Total
£ £ £
Cost
At 1 December 2018 295 4,192 4,487
Disposals ( 295) ( 1,295) ( 1,590)
_______ _______ _______
At 30 November 2019 - 2,897 2,897
_______ _______ _______
Depreciation
At 1 December 2018 294 2,535 2,829
Charge for the year - 966 966
Disposals ( 294) ( 1,295) ( 1,589)
_______ _______ _______
At 30 November 2019 - 2,206 2,206
_______ _______ _______
Carrying amount
At 30 November 2019 - 691 691
_______ _______ _______
At 30 November 2018 1 1,657 1,658
_______ _______ _______
6. Debtors
2019 2018
£ £
Other debtors 15,138 16,805
_______ _______
7. Creditors: amounts falling due within one year
2019 2018
£ £
Trade creditors 523 247
Corporation tax 17,947 16,970
Social security and other taxes 3,589 8,806
Other creditors 1,236 3,374
_______ _______
23,295 29,397
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2019
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr T A Payne ( 2,214) 2,140 ( 74)
_______ _______ _______
2018
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr T A Payne ( 1,831) ( 383) ( 2,214)
_______ _______ _______