Digital Video Systems Limited
|
For the year ended 31 July 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03406774
Digital Video Systems Limited
For the year ended 31 July 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
Digital Video Systems Limited
Chartered Accountants' Report
For the year ended 31 July 2016
Chartered Accountants' Report to the Board of Directors
In order to assist you to fulfil your duties under Companies Act
2006
,
we have prepared for your approval the
|
accounts of Digital Video Systems Limited for the year ended
31
July
2016
which comprise the Profit and Loss
|
Account
,
the Balance Sheet and the related notes from the company
'
s accounting records and from information
|
and explanations you have given us
.
|
As a practising firm of the Institute of Chartered Accountants in England and Wales
(
ICAEW
)
,
we are subject to its
|
ethical and other professional requirements which are detailed at icaew
.
com
/
membershandbook
.
|
This report is made solely to the Board of Directors of Digital Video Systems Limited
,
as a body
,
in accordance with
|
the terms of our engagement letter dated
27
October
2010
.
Our work has been undertaken solely to prepare for
|
your approval the accounts of Digital Video Systems Limited and state those matters that we have agreed to state
|
to the Board of Directors of Digital Video Systems Limited
,
as a body
,
in this report in accordance with AAF
2
/
10
as
|
detailed at icaew
.
com
/
compilation
.
To the fullest extent permitted by law
,
we do not accept or assume responsibility
|
to anyone other than Digital Video Systems Limited and its Board of Directors as a body for our work or for this
|
report
.
|
It is your duty to ensure that Digital Video Systems Limited has kept adequate accounting records to prepare
|
statutory accounts that give a true and fair view of the assets
,
liabilities
,
financial position and profit of Digital Video
|
Systems Limited
.
You consider that Digital Video Systems Limited is exempt from the statutory audit requirement
|
for the year
.
|
We have not been instructed to carry out an audit or a review of the accounts of Digital Video Systems Limited
.
For
|
this reason
,
we have not verified the accuracy or completeness of the accounting records or information and
|
explanations you have given to us and we do not
,
therefore
,
express any opinion on the statutory accounts
.
|
S F Brocklehurst & Co
Forest Lodge
Forest Road
Pyrford
Surrey
GU22 8NA
24 February 2017
1 of 4
Abbreviated Balance Sheet
|
Digital Video Systems Limited
2016
2015
2
511,446
522,647
511,446
522,647
65,622
69,905
71,826
52,186
270,060
296,565
392,151
434,013
Creditors
:
amounts falling due within one year
|
3
(237,685)
(181,362)
196,328
210,789
Net current assets
Total assets less current liabilities
|
722,235
718,975
Creditors
:
amounts falling due after more than one year
|
4
(216,843)
(211,381)
510,854
Net assets
502,132
10,000
5
10,000
307,865
307,865
192,989
184,267
510,854
502,132
Shareholders funds
For the year ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
|
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
|
2) The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
|
Date approved by the board: 24 February 2017
|
Signed on behalf of the board of directors
|
2 of 4
Notes to the Abbreviated Financial Statements
|
Digital Video Systems Limited
For the year ended 31 July 2016
The financial statements are prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Research and development expenditure
|
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred.
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange
|
ruling at the balance sheet date
.
Transactions in foreign currencies are recorded at the rate ruling at the date of the
|
transaction
.
All foreign exchange differences are included to the profit and loss account
.
|
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
|
by the shareholders prior to the balance sheet date
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Land and Buildings
Computer & Office Equipment
The company
'
s freehold properties were professionally valued in July
2005
.
This valuation has been reduced by
|
subsequent depreciation
.
Under the transitional provisions of the Financial Reporting Standard for Smaller Entities
|
(
effective January
2015
)
the properties continue to be stated at that valuation less accumulated depreciation to date
|
and that valuation has not been updated
.
|
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
3 of 4
Notes to the Abbreviated Financial Statements
|
Digital Video Systems Limited
For the year ended 31 July 2016
710,080
187
710,267
187,433
11,388
Charge for year
198,821
511,446
522,647
2016
3
Creditors
:
amounts falling due within one year
|
2015
-
20,270
Bank loans and overdrafts (secured)
2015
2016
4
Creditors
:
amounts falling due after one year
|
211,381
216,843
Bank loans and overdrafts (secured)
Allotted called up and fully paid
|
2016
2015
10
,
000
Ordinary shares of £
1
.
00
each
|
10,000
10,000
10,000
10,000
4 of 4