| Dzyne Limited |
| Notes to the Accounts |
| for the period from 1 July 2019 to 31 December 2019 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Related Party Exemption |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions as it is a wholly owned subsidiary within the group. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. |
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| 2 |
Employees |
31/12/19 |
30/6/19 |
| Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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| 3 |
Debtors |
31/12/19 |
30/6/19 |
| £ |
£ |
|
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Other debtors |
646 |
|
475 |
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| 4 |
Creditors: amounts falling due within one year |
31/12/19 |
30/6/19 |
| £ |
£ |
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Trade creditors |
4,376 |
|
- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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2,668,817 |
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2,058,318 |
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2,673,193 |
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2,058,318 |
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| 5 |
Controlling party |
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The immediate parent is RG Group Ltd a company registered in England & Wales. The registered office is 8 Smarts Place, London WC2B 5LW. |
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| 6 |
Other information |
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Dzyne Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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8 Smarts Place |
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London |
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WC2B 5LW |
