Dataflow Events Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03190002 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

FOR

DATAFLOW EVENTS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J H Denham Director

SECRETARY:

Mrs J S A Denham

REGISTERED OFFICE:

Fifth Floor

11 leadenhall Street

London

EC3V 1LP

REGISTERED NUMBER:

03190002 (England and Wales)

ACCOUNTANTS:

Acuity Professional Ltd

Business Advisers and Accountants

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,202

1,604

Investments

6

100

100

1,302

1,704

CURRENT ASSETS

Debtors

7

38,053

140,164

Prepayments and accrued income

2,920

6,411

Cash at bank

244,879

305,777

285,852

452,352

CREDITORS

Amounts falling due within one year

8

6,733

62,443

NET CURRENT ASSETS

279,119

389,909

TOTAL ASSETS LESS CURRENT LIABILITIES

280,421

391,613

CREDITORS

Amounts falling due after more than one year

9

(43,000

)

(43,000

)

PROVISIONS FOR LIABILITIES

10

(44

)

(79

)

ACCRUALS AND DEFERRED INCOME

(55,219

)

(41,446

)

NET ASSETS

182,158

307,088

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Share premium

525

525

Retained earnings

151,633

276,563

SHAREHOLDERS' FUNDS

182,158

307,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 May 2021 and were signed by:

Mr J H Denham Director - Director

1.	STATUTORY INFORMATION

Dataflow Events Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In preparing the financial statements, the directors are required to make estimates and judgements about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the directors to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

Fixed assets investments

Investments in subsidiaries and other entities are held at cost or cost less the decrease in value where this is appropriate.

Turnover

Turnover represents the value, net of value added tax and discounts, of services provided to customers. Turnover is recognised when the event takes place.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has been amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

2% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Financial assets that are measured at cost and amortized cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognized in profit or loss.

For financial assets measured at amortized cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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 and development expenditure is written off in the profit and loss account in the year to which the expenditure relates. The tax relief on research and development expenditure will be recognised in the financial statements in the year it has been approved by HMRC.

Foreign currencies

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss accounts as they become payable in accordance with rules of the scheme.

Dividends

Equity dividends are recognized when they become legally payable. Interim equity dividends are recognized when paid. Final equity dividends are recognized when approved by the shareholders at an annual general meeting. Dividends on shares recognized as liabilities are recognized as expenses and classified within interest payable.

Debtors

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.

Creditors

Short term creditors are measured at the transaction price. Loans from the director shareholders who are natural persons are also measured at transaction price irrespective of duration. 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

Cost

At 1 September 2019

and 31 August 2020

568,489

Amortisation

At 1 September 2019

and 31 August 2020

568,489

Net book value

At 31 August 2020

-

At 31 August 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

Cost

At 1 September 2019

and 31 August 2020

19,442

Depreciation

At 1 September 2019

17,838

Charge for year

402

At 31 August 2020

18,240

Net book value

At 31 August 2020

1,202

At 31 August 2019

1,604

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

At 1 September 2019

and 31 August 2020

359,918

Provisions

At 1 September 2019

and 31 August 2020

359,818

Net book value

At 31 August 2020

100

At 31 August 2019

100

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Travel Impact Limited

Registered office:

Nature of business: Non-trading

%

Class of shares:

holding

Ordinary

100.00

Preference

100.00

2020

2019

£

£

Aggregate capital and reserves

43,000

43,000

Vantage Point Limited

Registered office:

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

2020

2019

£

£

Aggregate capital and reserves

100

100

Travel Impact Limited was acquired on 1 October 2008 and is a dormant company during the reporting year. The investment is being written down at the rate of 10% per annum which represents its decrease in value.

Vantage Point Limited was incorporated on 9 February 2009 and is a dormant company.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

3,299

120,159

Other debtors

34,754

20,005

38,053

140,164

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

-

1,393

Taxation and social security

5,774

61,050

Other creditors

959

-

6,733

62,443

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Amounts owed to group undertakings

43,000

43,000

10.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

44

79

Deferred

tax

£

Balance at 1 September 2019

79

Provided during year

(35

)

Balance at 31 August 2020

44

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr J H Denham.