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

REGISTERED NUMBER: 01807741 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

DATASHARP UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Williams

B Shepherd

Mrs J Cockcroft

Dr S McIntosh

A C Cockcroft

C P Turner

SECRETARY:

Mrs J Cockcroft

REGISTERED OFFICE:

Woodlands Court

Truro Business Park

TRURO

Cornwall

TR4 9NH

REGISTERED NUMBER:

01807741 (England and Wales)

ACCOUNTANTS:

Lang Bennetts

The Old Carriage Works

Moresk Road

TRURO

Cornwall

TR1 1DG

FIXED ASSETS

Tangible assets

4

35,986

87,503

CURRENT ASSETS

Stocks

19,530

29,236

Debtors

5

593,349

655,217

Cash at bank

1,274,099

1,237,443

1,886,978

1,921,896

CREDITORS

Amounts falling due within one year

6

898,769

950,343

NET CURRENT ASSETS

988,209

971,553

TOTAL ASSETS LESS CURRENT LIABILITIES

1,024,195

1,059,056

PROVISIONS FOR LIABILITIES

6,811

15,305

NET ASSETS

1,017,384

1,043,751

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

1,016,384

1,042,751

1,017,384

1,043,751

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 15 July 2022 and were signed on its behalf by:

Mrs J Cockcroft - Director

1.	STATUTORY INFORMATION

Datasharp 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.

The directors, after making enquiries and having considered the company's business, its financial plans and the facilities available to finance the business, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Costed deals

Turnover from costed deals is recognised at the point of installation to the customer.

Calls

Turnover from calls is invoiced in arrears and recognised in the period to which it relates.

Line rental

Turnover from line rental is invoiced in advance and recognised in the period to which it relates.

Maintenance contracts

Turnover in respect of maintenance contracts is recognised on a straight line basis over the period of the contract term.

Ad-hoc services

Turnover in respect of ad-hoc services is recognised on completion of work carried out.

Leasing commissions

Turnover from commissions and secondary rentals are recognised in the period to which they relate.

Interest received

Interest received is recognised in other income in the period to which it relates.

Tangible fixed assets

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

Land and buildings

-

Over the lease term

Plant and machinery etc

-

33% on cost, 30% on reducing balance and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2021 - 45 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2021

60,580

544,879

605,459

Additions

-

3,426

3,426

Disposals

-

(290,796

)

(290,796

)

At 31 March 2022

60,580

257,509

318,089

DEPRECIATION

At 1 April 2021

60,050

457,906

517,956

Charge for year

390

33,658

34,048

Eliminated on disposal

-

(269,901

)

(269,901

)

At 31 March 2022

60,440

221,663

282,103

NET BOOK VALUE

At 31 March 2022

140

35,846

35,986

At 31 March 2021

530

86,973

87,503

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

320,685

403,727

Amounts owed by group undertakings

-

1,696

Other debtors

272,664

249,794

593,349

655,217

Included within other debtors are the following amounts;

The balance due from McIntosh Properties Limited was £13 (2021: nil), in which Jane Cockcroft and Simon McIntosh are shareholders, the balance due from The Paul McIntosh Grandchildren Settlement Trust loan accounts was £112,500 (2021:£82,500), in which Jane Cockcroft and Simon McIntosh are trustees. These balances are considered to be due within one year.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

147,691

164,071

Amounts owed to group undertakings

2,637

-

Taxation and social security

227,157

233,902

Other creditors

521,284

552,370

898,769

950,343

The company has given a standard unlimited guarantee to the bank covering its Direct Debit Operator responsibilities.

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs J Cockcroft.

Ms J Cockcroft is the ultimate controlling party by virtue of her majority shareholding in the parent company JS2 Investments Limited.