DEDUCTIVE LIMITED
DEDUCTIVE LIMITED
Registered number: 08170657
Unaudited Financial Statements
For The Year Ended
31 December 2020
Berkshire Accountants Limited
Chartered Certified Accountants & Registered Auditors
Suite 86 105 London Street
Reading
RG1 4QD
DEDUCTIVE LIMITED
Unaudited Financial Statements
For The Year Ended
31 December 2020
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
DEDUCTIVE LIMITED
Balance Sheet
As at
31 December 2020
Balance Sheet
Registered number:
08170657
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Share premium account |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 562,468 | 567,800 | |||
Page 1
DEDUCTIVE LIMITED
Balance Sheet (continued)
As at
31 December 2020
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
DEDUCTIVE LIMITED
Notes to the Financial Statements
For The Year Ended
31 December 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
1.4.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets is software. It is amortised to profit and loss account over its estimated economic life of 3 years.
1.5.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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| Computer Equipment |
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1.6.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 4 (2019: 13)
Page 3
DEDUCTIVE LIMITED
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2020
3.
Intangible Assets
| Goodwill | Other | Total | |
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| £ | £ | £ | |
| Cost | |||
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| Additions |
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| Amortisation | |||
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| Provided during the period |
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| Net Book Value | |||
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4.
Tangible Assets
| Fixtures & Fittings | Computer Equipment | Total | |
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| Additions |
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| Depreciation | |||
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| Net Book Value | |||
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Page 4
DEDUCTIVE LIMITED
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2020
5.
Debtors
| 2020 | 2019 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| VAT |
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6.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Other taxes and social security |
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| Unpaid share capital |
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| Accruals and deferred income |
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| Directors' loan accounts | - |
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7.
Creditors: Amounts Falling Due After More Than One Year
| 2020 | 2019 | ||
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| £ | £ | ||
| Bank loans |
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9.
Related Party Transactions
During the year company made a loan to Deductive Holding Ltd (previously called Dativa Ltd), the parent company. The balance as at 31 December 2020 is £666,459 debit balance (2019: £332,067 credit balance).
Dativa Inc, a US based entity has a balance as at 31 December 2020 of £460,015 debit balance (2019 - £270,109).
MarketCast LLC, a US based parent company has an outstanding loan as at 31 December 2020 of £740,431 (2019 - Nil). The loan was made with no fixed date for repayment and is classified as due on demand.
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DEDUCTIVE LIMITED
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2020
10.
General Information
DEDUCTIVE LIMITED
is a private company, limited by shares, incorporated in England & Wales, registered number
08170657
. The registered office is Suite 1, 3rd Floor, , 11-12 St. James's Square,, London,, SW1Y 4LB.
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