Data Solutions International Limited
|
Registered Number
:
06349153
|
For the year ended 31 December 2017
England and Wales
Unaudited Financial Statements
For the year ended 31 December 2017
Data Solutions International Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Data Solutions International Limited
Statement of Financial Position
2016
2017
Trade and other receivables
|
42,881
40,842
3
30,183
Cash and cash equivalents
|
15,331
56,173
73,064
Trade and other payables
:
amounts falling due within one
|
year
|
(1,139,795)
(1,301,881)
4
(1,066,731)
(1,245,708)
Net current liabilities
Total assets less current liabilities
|
(1,245,708)
(1,066,731)
(1,245,708)
Net liabilities
(1,066,731)
100
100
(1,245,808)
(1,066,831)
(1,245,708)
(1,066,731)
Shareholders' funds
For the year ended 31 December 2017 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 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.
|
Donald Eugene Eisma Director
|
These financial statements were approved and authorised for issue by the Board on 04 April 2018 and were signed by:
|
The notes form part of these financial statements
|
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For the year ended 31 December 2017
Data Solutions International Limited
Notes to the Financial Statements
Statutory Information
Data Solutions International Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
|
registration number
06349153
.
|
7 Derwent Business Centre
Clarke Street
Derby
DE1 2BU
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A 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.
|
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:
|
Furniture and Fittings
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
|
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.
|
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
|
Going Concern
The accounts have been drawn up on the going concern basis as the parent undertaking has indicated its intention
|
to continue to provide support to the company as required
.
|
2 of 4
For the year ended 31 December 2017
Data Solutions International Limited
Notes to the Financial Statements Continued
Financial Instruments
Basic financial assets
,
including trade and other receivables and cash and bank balances
,
are recognised and
|
carried forward at transaction price
.
Financial assets are derecognised when
:
|
(
a
)
the contractual rights to the cash flows from the asset expire or are settled
;
|
(
b
)
substantially all the risks and rewards of the ownership of the asset are transferred to another party
:
|
(
c
)
control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset
|
to an unrelated third party without imposing additional restrictions
.
|
Basic financial liabilities
,
including trade and other payables
,
and loans from third parties are initially recognised and
|
carried forward at transaction price
.
|
Financial liabilities are derecognised when the liability is extinguished
,
that is when the contractual obligation is
|
discharged
,
cancelled or expires
.
|
The company has only financial assets and financial liabilities of a kind that qualify as basic financial instruments
.
|
Basic financial instruments are recognised initially at transaction value and subsequently measured at their
|
settlement value with the exception of bank loans which are subsequently measured at amortised cost using the
|
effective interest rate method
.
|
2
.
Property
,
plant and equipment
|
6,330
6,330
Provision for depreciation and impairment
|
6,330
6,330
-
-
3
.
Trade and other receivables
|
2016
2017
38,925
40,964
1,917
1,917
42,881
40,842
3 of 4
For the year ended 31 December 2017
Data Solutions International Limited
Notes to the Financial Statements Continued
4
.
Trade and other payables
:
amounts falling due within one year
|
2016
2017
226
4,192
Amounts owed to group undertaking and undertaking in which the
|
company has a participating interest
|
1,291,791
1,126,382
Taxation and social security
|
7,504
6,860
2,360
2,361
1,301,881
1,139,795
5
.
Related party transactions
|
The company buys direct service costs and management services from Questar Data Systems Inc
,
the parent
|
company
.
The value of such purchases during the year was £
46
,
678
(
2016 43
,
602
)
and the amount owed to
|
Questar Data Systems Inc at the end of the year was £
1
,
291
,
790
(
2016
£
1
,
126
,
382
).
|
6
.
Guarantees and other financial commitments
|
At
31
December
2017
the company had annual commitments under non
-
cancellable operating leases as set out
|
below
:
|
2016
2017
Operating leases which expire
:
|
18,012
18,388
18,388
18,012
7
.
Average number of persons employed
|
The avaerage number of persons employed during the year was 5.5 (2016 6).
8
.
Parent
-
subsidary relationship
|
The company is a wholly owned subsidiary of Questar Data Systems Inc, incorporated in USA, The ultimate controlling party is Data Solutions International Inc, incorporated in USA.
|
9
.
Transition to FRS
102
|
This Is the first year for which the financial statements have been prepared under FRS
102
.
The transition from
|
preparing the financial statements in accordance with FRSSE
(
208
)
to FRS
102
(
1
a
)
has had no material impact upon
|
either the financial position or the financial performance as previously reported by the company
.
|
4 of 4