Company Registration No. 09003117 (England and Wales)
DP Governance Limited
Unaudited accounts
for the year ended 31 July 2021
DP Governance Limited
Unaudited accounts
Contents
DP Governance Limited
Statement of financial position
as at
31 July 2021
Intangible assets
437,977
322,515
Creditors: amounts falling due within one year
(52,331)
(32,730)
Net current assets
23,384
11,371
Total assets less current liabilities
461,853
334,513
Creditors: amounts falling due after more than one year
(45,000)
(45,000)
Net assets
416,853
289,513
Called up share capital
913
900
Share premium
350,887
240,900
Capital redemption reserve
100
100
Profit and loss account
64,953
47,613
Shareholders' funds
416,853
289,513
For the year ending 31 July 2021 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 April 2022 and were signed on its behalf by
N Alexander
Director
Company Registration No. 09003117
DP Governance Limited
Notes to the Accounts
for the year ended 31 July 2021
DP Governance Limited is a private company, limited by shares, registered in England and Wales, registration number 09003117. The registered office is 50 Brook Street, Mayfair, London, W1K 5DR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
over 5 years
Fixtures & fittings
over 5 years
Intangible fixed assets and amortisation
Purchased goodwill and patents are included at cost less accumulated amortisation and impairment. Expenditure on development of the company's proprietary software was expensed as incurred until July 2019. As the director is confident that the intellectual property thereby created has significant value that will generate income for the company in future years, the direct costs of software developed for external use have been capitalised as an intangible asset. Amortisation will be provided at 10% p.a. when in use.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The accounts are presented in £ sterling.
DP Governance Limited
Notes to the Accounts
for the year ended 31 July 2021
4
Intangible fixed assets
Other
Intangible fixed assets comprise the direct costs of software developed for external use.
5
Tangible fixed assets
Computer equipment
Cost or valuation
At cost
6
Debtors: amounts falling due within one year
2021
2020
Accrued income and prepayments
32,694
-
Other debtors
43,021
37,717
DP Governance Limited
Notes to the Accounts
for the year ended 31 July 2021
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
19,500
15,245
Trade creditors
24,516
6,000
Taxes and social security
-
10,605
8
Creditors: amounts falling due after more than one year
2021
2020
9
Average number of employees
During the year the average number of employees was 1 (2020: 1).