DTG Testing Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03998972 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

DTG TESTING LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

124,699

165,741

Investments

5

20,819

20,819

145,518

186,560

CURRENT ASSETS

Debtors

6

420,202

398,207

Cash at bank

1,541

28,745

421,743

426,952

CREDITORS

Amounts falling due within one year

7

514,647

645,035

NET CURRENT LIABILITIES

(92,904

)

(218,083

)

TOTAL ASSETS LESS CURRENT LIABILITIES

52,614

(31,523

)

PROVISIONS FOR LIABILITIES

32,500

32,500

NET ASSETS/(LIABILITIES)

20,114

(64,023

)

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

20,112

(64,025

)

SHAREHOLDERS' FUNDS

20,114

(64,023

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by:

F H Headon - Director

1.	STATUTORY INFORMATION

DTG Testing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03998972

Registered office:

5th Floor

89 Albert Embankment

Vauxhall

London

SE1 7TP

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.

Going concern

The directors have prepared detailed cash and profit and loss forecasts which reflect management's plans and the operating environment in order for them to assess the company's ability to continue as a going concern. They have also received confirmation of continued support from the parent company. Following their assessment, the directors have not identified any going concern uncertainties and the financial statements are prepared on a going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about DTG Testing Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and value added tax. The policies adopted for the recognition of turnover are as follows:

Test suite turnover

Turnover is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the software, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Testing services turnover

Income is recognised when the outcome of the transaction can be estimated reliably and is recognised by reference to the time spent on the services at the company's day rate.

Annual service fees turnover

Income is recognised from the start date of the service period on a straight line basis.

Tangible fixed assets

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

Improvements to property

-

over the term of the lease

Testing equipment

-

20% on reducing balance

Office equipment

-

20% on cost

Computer equipment

-

20% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 whose assets are held separately from those of the company. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Testing

Office

Computer

property

equipment

equipment

equipment

Totals

£

£

£

£

£

COST

At 1 April 2022

459,738

1,053,659

38,728

94,623

1,646,748

Additions

-

26,263

-

3,848

30,111

Disposals

-

(8,476

)

-

-

(8,476

)

At 31 March 2023

459,738

1,071,446

38,728

98,471

1,668,383

DEPRECIATION

At 1 April 2022

364,595

1,003,313

38,728

74,371

1,481,007

Charge for year

43,912

14,884

-

9,232

68,028

Eliminated on disposal

-

(5,351

)

-

-

(5,351

)

At 31 March 2023

408,507

1,012,846

38,728

83,603

1,543,684

NET BOOK VALUE

At 31 March 2023

51,231

58,600

-

14,868

124,699

At 31 March 2022

95,143

50,346

-

20,252

165,741

5.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 April 2022

and 31 March 2023

20,819

NET BOOK VALUE

At 31 March 2023

20,819

At 31 March 2022

20,819

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

153,964

147,384

Amounts owed by joint ventures

107,099

21,423

Other debtors

159,139

229,400

420,202

398,207

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

88,927

91,830

Amounts owed to group undertakings

229,359

340,756

Taxation and social security

16,970

9,830

Other creditors

179,391

202,619

514,647

645,035

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

2

Ordinary

£1

2

2

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Colin Young BA FCA (Senior Statutory Auditor)

for and on behalf of Galloways Accounting

10.	OFF-BALANCE SHEET ARRANGEMENTS

At the year end, the company had non-cancellable operating lease commitments amounting to £183,043 (2022: £366,086).

11.	RELATED PARTY DISCLOSURES

At the year end, the company was owed £107,099 (2022: £21,423) by a company in which DTG Testing Limited has a participating interest. The amount due is repayable on demand, unsecured and interest-free.