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Unaudited Financial Statements |
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for the Year Ended 31 December 2021 |
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for |
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Development Solutions Europe Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2021 |
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for |
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Development Solutions Europe Limited |
Development Solutions Europe Limited (Registered number: 03961556) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
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Company Information | 1 |
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Report of the Accountants | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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Development Solutions Europe Limited |
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Company Information |
for the Year Ended 31 December 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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12 Park Lane |
Tilehurst |
Reading |
Berkshire |
RG31 5DL |
Development Solutions Europe Limited |
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Report of the Accountants to the Director of |
Development Solutions Europe Limited |
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The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
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As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2021 set out on pages nil to nil and you consider that the company is exempt from an audit. |
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In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
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12 Park Lane |
Tilehurst |
Reading |
Berkshire |
RG31 5DL |
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Date: ............................................. |
Development Solutions Europe Limited (Registered number: 03961556) |
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Balance Sheet |
31 December 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Investments | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | 10 |
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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. |
Development Solutions Europe Limited (Registered number: 03961556) |
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Balance Sheet - continued |
31 December 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Development Solutions Europe Limited (Registered number: 03961556) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
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1. | STATUTORY INFORMATION |
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Development Solutions Europe Limited is a
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2. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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TANGIBLE FIXED ASSETS |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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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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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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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. Profit and loss account items are translated into sterling at the monthly average rate of exchange. |
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PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Development Solutions Europe Limited (Registered number: 03961556) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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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. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 January 2021 |
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Additions |
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Disposals |
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At 31 December 2021 |
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DEPRECIATION |
At 1 January 2021 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2021 |
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Additions |
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Disposals |
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At 31 December 2021 |
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DEPRECIATION |
At 1 January 2021 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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Development Solutions Europe Limited (Registered number: 03961556) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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5. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
Additions |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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6. | DEBTORS |
2021 | 2020 |
£ | £ |
Amounts falling due within one year: |
Advance to OR | 16,671 | - |
VAT |
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Prepayments and accrued income |
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Amounts falling due after more than one year: |
Loan account | 769,279 | 780,129 |
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Aggregate amounts |
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7. | CURRENT ASSET INVESTMENTS |
2021 | 2020 |
£ | £ |
Investments - Subsidiaries |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Corporation tax |
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Net wages | 203,626 | 226,113 |
Credit card - 8128 | 1,893 | 3,659 |
Credit card - 8136 | 3,145 | 2,738 |
Directors' current accounts | 498,381 | 837,093 |
Accrued expenses |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 | 2 | 2 |
Development Solutions Europe Limited (Registered number: 03961556) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1 January 2021 |
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Profit for the year |
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At 31 December 2021 |
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11. | RELATED PARTY DISCLOSURES |
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During the year, company has owned loan of £769,279 (P.Y. £780,129) to O&R Trading UK Ltd, a company controlled by Mr. Philip Anthony Bartley. |
Opening Balance : £780,129 |
Transactions during the year : Loan repaid £30,000, Interest charged on loan £19,150 |
Closing balance : £769,279 |
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During the year, company has advanced amount of £16,671 to O&R Trading UK Ltd, a company controlled by Mr. Philip Anthony Bartley. |
Opening Balance : NIL |
Transactions during the year : Amount advanced £35,767, Loan repaid £19,096 |
Closing balance : £16,671 |
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12. | EVENT DURING THE REPORTING PERIOD |
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For the period ended on 31st December, 2021, the Coronavirus (COVID-19) has emerged globally resulting in a significant impact on businesses worldwide. As a result some business operations have been restricted, however company continues to operate using alternative methods and remote working. The directors are unable to evaluate the overall financial impact on the business at present. Hence the financial statements do not include any adjustments that might result from the outcome of this uncertainty. The directors are continuing to monitor, assess and act with reference to the current changing environment in order to position the company to ensure its future success. |
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13. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of Mr. Philip Anthony Bartley & Mrs. Guo Dongxia, who jointly own 100% Issued share capital of the company. Mr. Philip Anthony Bartley is also a director of the company. |