Company Registration No. 09031194 (England and Wales)
D T N I LIMITED
UNAUDITED FINANCIAL STATEMENTS
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
D T N I LIMITED
COMPANY INFORMATION
Directors
Mr J F McAvoy
Mr D T Newns
Company number
09031194
Registered office
Suite 3
First Floor Grove Chambers
36 Green Lane
Wilmslow
England
SK9 1LD
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
D T N I LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
D T N I LIMITED
BALANCE SHEET
AS AT 31 MAY 2022
31 May 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
116,541
61,746
Investments
4
125,021
125,021
241,562
186,767
Current assets
Debtors
5
3,162,067
1,749,132
Investments
6
6,179,688
7,743,264
Cash at bank and in hand
1,584,550
417,528
10,926,305
9,909,924
Creditors: amounts falling due within one year
7
(93,481)
(1,877,909)
Net current assets
10,832,824
8,032,015
Total assets less current liabilities
11,074,386
8,218,782
Creditors: amounts falling due after more than one year
8
(45,358)
Net assets
11,029,028
8,218,782
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
11,029,027
8,218,781
Total equity
11,029,028
8,218,782
The notes on pages 3 to 6 form part of these financial statements.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
D T N I LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2022
31 May 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 4 April 2023 and are signed on its behalf by:
Mr J F McAvoy
Director
Company Registration No. 09031194
D T N I LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
- 3 -
1
Accounting policies
Company information
D T N I Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Suite 3, First Floor Grove Chambers, 36 Green Lane, Wilmslow, England, SK9 1LD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover from consultancy is recognised when the work has been performed.
Turnover from interest and fees is recognised when earned in line with specific loan arrangements.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% on reducing balance
Computers
15% on cost
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Fixed asset investments
Fixed asset investments are stated at cost less provision for any impairment in value.
Investments in listed company equity shares are initially recognised at cost and subsequently
measured at market value at each balance sheet date with changes to fair value recognised in profit or
loss.
Investments in unlisted company equity shares are not recognised at cost. Where the fair value can be
reliably determined they are subsequently measured at fair value at each balance sheet date with
changes to fair value recognised in profit or loss. Where fair value cannot be readily determined, such
investments are stated at historic cost less impairment
D T N I LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in
profit
or
loss
, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair
value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
D T N I LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
- 5 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2021
15,200
9,202
61,710
86,112
Additions
14,450
64,490
78,940
At 31 May 2022
29,650
9,202
126,200
165,052
Depreciation and impairment
At 1 June 2021
2,837
4,166
17,363
24,366
Depreciation charged in the year
3,616
1,381
19,148
24,145
At 31 May 2022
6,453
5,547
36,511
48,511
Carrying amount
At 31 May 2022
23,197
3,655
89,689
116,541
At 31 May 2021
12,363
5,036
44,347
61,746
4
Fixed asset investments
2022
2021
£
£
Other investments other than loans
125,021
125,021
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
138,989
31,250
Other debtors
2,923,078
1,717,882
3,062,067
1,749,132
2022
2021
Amounts falling due after more than one year:
£
£
Other debtors
100,000
Total debtors
3,162,067
1,749,132
D T N I LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
- 6 -
6
Current asset investments
2022
2021
£
£
Other investments
6,179,688
7,743,264
7
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
1,478
5,400
Taxation and social security
2,208
2,099
Other creditors
89,795
1,870,410
93,481
1,877,909
8
Creditors: amounts falling due after more than one year
2022
2021
£
£
Other creditors
45,358
9
Secured debts
The following secured debts are included within creditors:
-
Hire purchase contracts totalling £54,311 (2021 - £nil).
-
Other loans totalling £nil (2021 - £1,657,228).
Hire purchase contracts are secured against the assets to which they relate.
Other loans are secured against cash and other company assets held by the lender.