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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017 |
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DARK LIGHT DEVELOPMENTS LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017 |
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FOR |
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DARK LIGHT DEVELOPMENTS LTD |
DARK LIGHT DEVELOPMENTS LTD (REGISTERED NUMBER: 03550161) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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DARK LIGHT DEVELOPMENTS LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Chargrove House |
Shurdington Road |
Cheltenham |
Gloucestershire |
GL51 4GA |
DARK LIGHT DEVELOPMENTS LTD (REGISTERED NUMBER: 03550161) |
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BALANCE SHEET |
30 APRIL 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps 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 Sections 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. |
DARK LIGHT DEVELOPMENTS LTD (REGISTERED NUMBER: 03550161) |
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BALANCE SHEET - continued |
30 APRIL 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director on
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DARK LIGHT DEVELOPMENTS LTD (REGISTERED NUMBER: 03550161) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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1. | STATUTORY INFORMATION |
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Dark Light Developments Ltd is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the total invoice value, excluding value added tax, of sales made during the year |
and derives from the provision of goods falling within the company's ordinary activities. Revenue is |
recognised on shipment of products or payments for games. |
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Development costs |
Development costs are capitalised in respect of products yet to be released, this will be amortised |
equally over an expected useful life of three years once the product sales start. |
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Tangible fixed assets |
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Long leasehold | - |
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Workshop/ Toolstore | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Financial instruments |
Financial Instruments are classified by the directors as basic or advanced following the conditions in |
FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective |
interest method. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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DARK LIGHT DEVELOPMENTS LTD (REGISTERED NUMBER: 03550161) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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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. |
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Going concern |
There are no material uncertainties that may cast significant doubt on the company's ability to continue |
as a going concern. |
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Accounting convention |
These financial statements are the first financial statements that comply with FRS 102 Section 1A. The |
date of transition is 1 May 2015. The transition to FRS 102 Section 1A small entities has resulted in no |
material changes in accounting policies to those used previously. There has also been no changes in |
comparative figures. |
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Provisions |
Provisions are set up only where it is probable that a present obligation exists as a result of an event |
prior to the balance sheet date and that a payment will be required in settlement that can be estimated |
reliably. Where material, provisions are calculated on a discounted basis. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 May 2016 |
and 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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DARK LIGHT DEVELOPMENTS LTD (REGISTERED NUMBER: 03550161) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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5. | TANGIBLE FIXED ASSETS |
Long | Workshop/ | Plant and |
leasehold | Toolstore | machinery |
£ | £ | £ |
COST |
At 1 May 2016 |
and 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2016 |
and 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Provision for doubtful debts | (1,559 | ) | - |
Other debtors |
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VAT |
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DARK LIGHT DEVELOPMENTS LTD (REGISTERED NUMBER: 03550161) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Corporation Tax | ( |
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Social security and other taxes |
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Net wages | 2,714 | - |
Pension control | 72 | - |
Other creditors |
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Directors' loan accounts | 1,166 | 12,083 |
Accruals and deferred income |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loans |
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Mr J Haycraft (director) has given a personal guarantee on the bank loan for £100,000. |
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The company also has a debenture registered with Barclays Bank PLC. This contains fixed and |
floating charges which cover all the property or undertaking of the company. This charge also includes |
a negative pledge. |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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As at 30 April the company owed the director J C Haycraft £1,166 (2016: £12,083). No interest has |
been charged on the loan and there are no set repayment terms. |