Digital Video Systems Limited |
Registered Number:03406774 |
For the year ended 31 July 2023
England and Wales
Unaudited Financial Statements
For the year ended 31 July 2023
Digital Video Systems Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Digital Video Systems Limited
Statement of Financial Position
2022
2023
Property, plant and equipment |
477,870
481,878
2
477,870
481,878
178,982
128,081
3
Trade and other receivables |
253,924
27,190
4
650,775
Cash and cash equivalents |
972,569
1,127,840
1,083,681
Trade and other payables: amounts falling due within one |
year |
(393,325)
(271,297)
5
690,356
856,543
Net current assets
Total assets less current liabilities |
1,334,413
1,172,234
Trade and other payables: amounts falling due after more |
than one year |
(58,007)
(30,593)
6
1,303,820
Net assets
1,114,227
10,000
10,000
307,865
307,865
7
985,955
796,362
1,303,820
1,114,227
Shareholders' funds
For the year ended 31 July 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of |
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section |
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial |
statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 July 2023
Digital Video Systems Limited
Statement of Financial Position Continued
These financial statements were approved and authorised for issue by the Board on 09 April 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 July 2023
Digital Video Systems Limited
Notes to the Financial Statements
Statutory Information
Digital Video Systems Limited is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 03406774. |
35 Church Street
Weybridge
Surrey
KT13 8DG
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Property, plant and equipment
Property, plant and equipment, 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
Furniture and Fittings
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result. |
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For the year ended 31 July 2023
Digital Video Systems Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
Computer & |
Office |
Equipment |
733,521
162,858
20,663
550,000
550,000
20,663
162,858
733,521
Provision for depreciation and impairment |
251,643
162,858
20,663
68,122
Charge for year
4,008
-
-
4,008
255,651
162,858
20,663
72,130
477,870
-
-
477,870
481,878
-
-
481,878
2022
2023
128,081
178,982
4. Trade and other receivables |
2022
2023
26,592
253,842
598
82
253,924
27,190
5. Trade and other payables: amounts falling due within one year |
2022
2023
Bank loans and overdraft (secured) |
23,000
23,000
145,069
293,637
Taxation and social security |
97,881
72,591
5,347
4,097
271,297
393,325
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For the year ended 31 July 2023
Digital Video Systems Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year |
2022
2023
Bank loans and overdraft (secured) |
30,593
58,007
Revaluation reserve at 01 August 2022 |
307,865
307,865
Revaluation reserve at 31 July 2023 |
8. Average number of persons employed |
During the year the average number of employees was 4 (2022 : 3)
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