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Company registration number 06748735
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FOR THE PERIOD ENDED
29 JUNE 2016
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DATA DISCOVERY SOLUTIONS LIMITED
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DATA DISCOVERY SOLUTIONS LIMITED
REGISTERED NUMBER: 06748735
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ABBREVIATED BALANCE SHEET
AS AT 29 JUNE 2016
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 29 June 2016 and of its loss for the period in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
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DATA DISCOVERY SOLUTIONS LIMITED
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ABBREVIATED BALANCE SHEET (continued)
AS AT 29 JUNE 2016
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 14 June 2017.
The notes on pages 3 to 7 form part of these financial statements.
Page 2
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DATA DISCOVERY SOLUTIONS LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 29 JUNE 2016
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the year in the normal course of business, net of trade discounts, VAT and other sales and related taxes.
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Intangible fixed assets and amortisation
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Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and loss account over its estimated economic life.
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Amortisation is provided at the following rates:
 
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Investments held as fixed assets are shown at cost less provision for impairment.
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Investment properties are included in the Balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.
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Rentals under operating leases are charged to the Profit and loss account on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.
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Page 3
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DATA DISCOVERY SOLUTIONS LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 29 JUNE 2016
1.ACCOUNTING POLICIES (continued)
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
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Monetary assets and liabilities denominated in foreign currencies are translated into sterling at 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 gains and losses are recognised in the Profit and loss account.
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The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the period.
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Development Costs are capitalized within intangible assets where they can be identified with a specific product or project anticipated to produce future benefits and are amortized on the straight line basis over the anticipated life of the benefits currently capped at 4 years. Legal fees in connection with patents are written off to the profit and loss account as incurred to secure protection for intangible fixed assets.
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Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instruments is any contract that evidence a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (inculding share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabillities. Financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit & loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
 
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Page 4
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DATA DISCOVERY SOLUTIONS LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 29 JUNE 2016
1.ACCOUNTING POLICIES (continued)
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The Company has taken advantage of the exemption provided by Section 398 of the Companies Act 2016 not to prepare group Accounts. These financial statements deal only with the position and performance of the Parent Company, Date Discovery Solutions Ltd. However, for disclosure purposes it should be noted that the Consolidated turnover of the Group is £1,498,000 (2015: £1,498,000)
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2.INTANGIBLE FIXED ASSETS
3.TANGIBLE FIXED ASSETS
Page 5
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DATA DISCOVERY SOLUTIONS LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 29 JUNE 2016
4.INVESTMENTS
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At 1 July 2015 and 29 June 2016
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Data Discovery Solutions PTY
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Active Navigation Limited
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Profit & (Loss) for the year
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Data Discovery Solutions PTY
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Active Navigation Limited
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5.DIRECTORS' BENEFITS: ADVANCES, CREDIT AND GUARANTEES
At the year end a balance of £47,198 (2015 - £45,823) was owed by a director of the company. This loan is due to be fully repaid by 31 December 2017. Interest of 3% was charged on the loan, which amounted to £1,375 in the year. The maximum balance during the year was £47,198.
6.SHARE CAPITAL
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Allotted, called up and fully paid
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6,897,442 (2015 - 6,897,440) Ordinary shares of £0.10 each
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100,000 Ordinary A shares of £0.10 each
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The amounts of paid up share capital for the following categories of shares differed from the called up share capital stated above due to unpaid calls and were as follows:
Page 6
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DATA DISCOVERY SOLUTIONS LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 29 JUNE 2016
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Number of 'ordinary' shares for which rights are exercisable
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Subscription price per share
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Period within which options are exercisable
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No. 'ordinary'
shares
30.06.16
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No. 'ordinary' shares 30.06.2015
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The company set up a share-option scheme on 10 June 2009 and granted 7,100 shares. All staff employed by the company, and any employed since that date, are eligible for the scheme providing they work at least 25 hours a week for the company or work 75% of their time for the company. Furthermore, the Company granted a further 11,000 shares on 01 March 2010. Of these options, only 6,050 are exercisable (2015 - 6,050). The remainder having been surrendered or exercised in accordance with the terms of their granting.
In June 2011 the company granted 364,985 options. Of these 124,401 are still exercisable (2015 - 124,401). The remainder having been surrendered or exercised in accordance with the terms of their granting.
In August 2012 the company granted 167,190 options. Of these 76,341 (2015 - 76,341) are still exercisable. The remainder having been surrendered or exercised in accordance with the terms of their granting.
In September 2012 the company granted 107,467 options 107,467 (2015 - 107,467) options are still exercisable.
In January 2015 the company granted 1,644,340 options 1,644,340 (2015 - 1,644,340) options are still exercisable.
 
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Page 7
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