Dyalog Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 05322189 (England and Wales)

DYALOG LIMITED

Financial Statements

for the Year Ended 31 December 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

A Bianchi

Dr G V Hetrodt

M J Kromberg

Registered office:

NP-105, iCentre

Howard Way

Newport Pagnell

Milton Keynes

Buckinghamshire

MK16 9PY

Registered number:

05322189 (England and Wales)

Auditors:

Cox and Co (Accountancy) Limited

Statutory Auditors

The Granary

High Street

Turvey

Bedfordshire

MK43 8DB

Fixed assets

Intangible assets

4

67,500

81,000

Tangible assets

5

18,063

2,660

Investments

6

1,501

1,501

87,064

85,161

Current assets

Debtors

7

433,274

572,163

Cash at bank and in hand

1,667,079

1,353,632

2,100,353

1,925,795

Creditors

Amounts falling due within one year

8

1,107,095

897,709

Net current assets

993,258

1,028,086

Total assets less current liabilities

1,080,322

1,113,247

Capital and reserves

Called up share capital

67,800

67,800

Share premium

149,725

149,725

Capital redemption reserve

66,300

66,300

Retained earnings

796,497

829,422

11

1,080,322

1,113,247

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 22 June 2023 and were signed on its behalf by:

M J Kromberg - Director

1.	Statutory information

Dyalog 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.

Turnover

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

Goodwill

Goodwill was acquired on the transfer of the net assets and trade from the subsidiary undertaking. Goodwill is fully amortised as at 31st December 2016. Amortisation was being charged over 10 years.

Intangible assets

Intangible fixed assets, being intellectual property rights to software, are being amortisedover the assets estimated useful life of ten years

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 12 (2021 - 12 ) .

4.	Intangible fixed assets

Other

intangible

Goodwill

assets

Totals

£

£

£

Cost

At 1 January 2022

and 31 December 2022

1,263,568

135,000

1,398,568

Amortisation

At 1 January 2022

1,263,568

54,000

1,317,568

Charge for year

-

13,500

13,500

At 31 December 2022

1,263,568

67,500

1,331,068

Net book value

At 31 December 2022

-

67,500

67,500

At 31 December 2021

-

81,000

81,000

5.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 January 2022

56,141

37,576

93,717

Additions

-

18,358

18,358

At 31 December 2022

56,141

55,934

112,075

Depreciation

At 1 January 2022

54,859

36,198

91,057

Charge for year

285

2,670

2,955

At 31 December 2022

55,144

38,868

94,012

Net book value

At 31 December 2022

997

17,066

18,063

At 31 December 2021

1,282

1,378

2,660

6.	Fixed asset investments

Shares in

group

undertaki

£

Cost

At 1 January 2022

and 31 December 2022

1,501

Net book value

At 31 December 2022

1,501

At 31 December 2021

1,501

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Dyalog 2002 Limited

Registered office: NP-105, iCentre, Howard Way, Interchange Park, Newport Pagnell, MK16 9PY

Nature of business: Dormant

%

Class of shares:

holding

Ordinary £1

100.00

31/12/22

31/12/21

£

£

Aggregate capital and reserves

1,500

1,500

Dyalog SIP Trustees Limited

Registered office: Np-105, Icentre Howard Way, Interchange Park, Newport Pagnell, MK16 9PY

Nature of business: Trustee of Share Incentive Plan

%

Class of shares:

holding

Ordinary £1

100.00

31/12/22

31/12/21

£

£

Aggregate capital and reserves

1

1

7.

Debtors: amounts falling due within one year

31/12/22

31/12/21

£

£

Trade debtors

325,456

431,011

Other debtors

107,818

141,152

433,274

572,163

Also included in other debtors is £19,449 (2021: £19,449) relating to monies held as a rent deposit. A legal charge is held over this debtor.

8.

Creditors: amounts falling due within one year

31/12/22

31/12/21

£

£

Bank loans and overdrafts

-

2

Trade creditors

9,657

8,169

Amounts owed to group undertakings

1,501

1,501

Amounts owed to participating interests

184,403

120,993

Taxation and social security

72,946

72,635

Other creditors

838,588

694,409

1,107,095

897,709

9.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

David A. Cox (Senior Statutory Auditor)

for and on behalf of Cox and Co (Accountancy) Limited

10.	Related party disclosures

Insight Systems APL

A minority shareholder of Dyalog Limited.

During the year Dyalog Limited made sales to Insight Systems APL totalling £3,033 (2021 £2,573).

During the year Dyalog Limited was charged £517,646 (2021: £399,116) in respect of management expenses.

As at 31st December 2022 Dyalog Limited owed Insight Systems APL £184,403 (2021: £120,993)

11.	Reconciliation of movements in reserves

31/12/22

31/12/21

£

£

Profit for the financial year

422,704

455,571

Dividends

(455,629

)

(258,214

)

(32,925

)

197,357

Other comprehensive income relating to the year (net)

-

11,253

Cash share issue

-

73,025

Net (reduction)/addition to reserves

(32,925

)

281,635

Opening reserves

1,113,247

831,612

Closing reserves

1,080,322

1,113,247