DENE COMMUNICATIONS SYSTEMS LTD
DENE COMMUNICATIONS SYSTEMS LTD
Company No:
DENE COMMUNICATIONS SYSTEMS LTD
Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar
For the financial year ended 31 December 2023
Pages for filing with the registrar
Unaudited Financial Statements
Contents
STATEMENT OF FINANCIAL POSITION
STATEMENT OF FINANCIAL POSITION (continued)
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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1,615 | 3,318 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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2,122,573 | 1,916,352 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 10,374 | 7,203 | ||
Total assets less current liabilities | 11,989 | 10,521 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
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The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476; -
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and -
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.
The financial statements of Dene Communications Systems Ltd (registered number:
C J Whitehead
Director |
NOTES TO THE FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
1. Accounting policies
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
General information and basis of accounting
Dene Communications Systems Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Dene House Brook Close, Kempsey, Worcester, WR5 3LE, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Going concern
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Foreign currency
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Interest income
Taxation
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible fixed assets
Office equipment |
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Computer equipment |
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Trade and other debtors
Cash and cash equivalents
Trade and other creditors
Financial instruments
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Ordinary share capital
2. Employees
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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3. Tangible assets
Office equipment | Computer equipment | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 January 2023 |
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At 31 December 2023 |
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Accumulated depreciation | |||||
At 01 January 2023 |
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Charge for the financial year |
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At 31 December 2023 |
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Net book value | |||||
At 31 December 2023 |
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At 31 December 2022 |
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4. Debtors
2023 | 2022 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by director |
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Prepayments |
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Other debtors |
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5. Creditors: amounts falling due within one year
2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to director |
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Accruals and deferred income |
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Taxation and social security |
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6. Called-up share capital
2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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7. Related party transactions
Transactions with the entity's director
At the year-end, there was a balance owed by the director of £426,785 (2022: £126,235 owed to the director). Interest has been charged at 2%/2.25% on overdrawn balances during the year, and the loan is repayable on demand.