ACCOUNTS - Final Accounts

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-11-302021-11-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2020-12-01No description of principal activity22truefalsetrue 09303945 2020-12-01 2021-11-30 09303945 2019-12-01 2020-11-30 09303945 2021-11-30 09303945 2020-11-30 09303945 c:Director2 2020-12-01 2021-11-30 09303945 d:OfficeEquipment 2020-12-01 2021-11-30 09303945 d:OfficeEquipment 2021-11-30 09303945 d:OfficeEquipment 2020-11-30 09303945 d:OfficeEquipment d:OwnedOrFreeholdAssets 2020-12-01 2021-11-30 09303945 d:CurrentFinancialInstruments 2021-11-30 09303945 d:CurrentFinancialInstruments 2020-11-30 09303945 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 09303945 d:CurrentFinancialInstruments d:WithinOneYear 2020-11-30 09303945 d:ShareCapital 2021-11-30 09303945 d:ShareCapital 2020-11-30 09303945 d:RetainedEarningsAccumulatedLosses 2021-11-30 09303945 d:RetainedEarningsAccumulatedLosses 2020-11-30 09303945 c:FRS102 2020-12-01 2021-11-30 09303945 c:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 09303945 c:FullAccounts 2020-12-01 2021-11-30 09303945 c:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 09303945 2 2020-12-01 2021-11-30 iso4217:GBP xbrli:pure

Registered number: 09303945

DAV BEV LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2021

DAV BEV LTD

REGISTERED NUMBER: 09303945

STATEMENT OF FINANCIAL POSITION

AS AT 30 NOVEMBER 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		775		409
Current assets
Debtors: amounts falling due within one year	5	9,787		10,028
Cash at bank and in hand		1,406		2,566
		11,193		12,594
Creditors: amounts falling due within one year	6	(11,956)		(12,554)
Net current (liabilities)/assets			(763)		40

Net assets			12		449

Capital and reserves
Called up share capital	500	500
Profit and loss account	(488)	(51)
	12	449

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

D Beverley

Director

Date: 9 September 2022

The notes on pages 3 to 7 form part of these financial statements.

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DAV BEV LTD

REGISTERED NUMBER: 09303945

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 NOVEMBER 2021

Page 2

DAV BEV LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

1.	General information

The principal activity of the company is that of a creative director.
The Company is a private company limited by shares and is incorporated in England and Wales.
The Registered Office address is 10 Bedford Road, Crouch End, London, N8 8HL.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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DAV BEV LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

20%

straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for

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DAV BEV LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

2.Accounting policies (continued)

2.8

Financial instruments (continued)

objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

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DAV BEV LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 December 2020	5,163
	Additions	685
	At 30 November 2021	5,848
	Depreciation
	At 1 December 2020	4,754
	Charge for the year on owned assets	319
	At 30 November 2021	5,073
	Net book value
	At 30 November 2021	775
	At 30 November 2020	409

Debtors

					2021	2020
					£	£


Other debtors	9,787	10,028

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Corporation tax	6,181	8,304
Other taxation and social security	3,775	2,250
Accruals and deferred income	2,000	2,000
	11,956	12,554

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DAV BEV LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

7.	Related party transactions
	Included in other debtors is £9,787 (2020: £10,027) owed by the directors. This balance is unsecured and repayable on demand. Interest has been charged at the official rate.

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