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Unaudited Financial Statements for the Year Ended 31 May 2022 |
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Datawing Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 May 2022 |
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for |
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Datawing Limited |
Datawing Limited (Registered number: 07650812) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2022 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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Datawing Limited (Registered number: 07650812) |
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Balance Sheet |
31 May 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
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Property, plant and equipment | 5 |
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Current assets |
Debtors | 6 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 7 |
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Net current assets |
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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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Datawing Limited (Registered number: 07650812) |
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Balance Sheet - continued |
31 May 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
Capital and reserves |
Called up share capital | 9 |
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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. |
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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 and authorised for issue on
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Datawing Limited (Registered number: 07650812) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2022 |
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1. | Statutory information |
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Datawing Limited is a
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Registered number: |
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Registered office: |
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The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£). |
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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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts. |
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When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Intangible assets are being amortised evenly over their estimated useful life of ten years. |
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Property, plant and equipment |
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Plant and machinery etc | - |
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Government grants |
Government grants are recognised in the period to which they relate. |
Datawing Limited (Registered number: 07650812) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2022 |
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2. | Accounting policies - continued |
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Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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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Datawing Limited (Registered number: 07650812) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2022 |
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4. | Intangible fixed assets |
Other |
intangible |
assets |
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Cost |
At 1 June 2021 |
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Additions |
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At 31 May 2022 |
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Amortisation |
At 1 June 2021 |
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Charge for year |
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At 31 May 2022 |
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Net book value |
At 31 May 2022 |
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At 31 May 2021 |
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5. | Property, plant and equipment |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 June 2021 |
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Additions |
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At 31 May 2022 |
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Depreciation |
At 1 June 2021 |
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Charge for year |
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At 31 May 2022 |
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Net book value |
At 31 May 2022 |
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At 31 May 2021 |
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Datawing Limited (Registered number: 07650812) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2022 |
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6. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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8. | Creditors: amounts falling due after more than one year |
2022 | 2021 |
£ | £ |
Bank loans |
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9. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary | £0.01 | 200 | 200 |
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10. | Related party disclosures |
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At the year end, the company owed the director £25,532 (2021: £4,698). |