Digital Home Visits Technologies Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10385253 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Digital Home Visits Technologies Ltd.

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A J Lionakis

P A Oliver

REGISTERED OFFICE:

8th Floor

9 Appold Street

London

EC2A 2AP

REGISTERED NUMBER:

10385253 (England and Wales)

FIXED ASSETS

3,320

Intangible assets

5

239,869

10,589

Tangible assets

6

2,602

13,909

242,471

CURRENT ASSETS

300,625

Debtors

7

220,318

15,615

Cash at bank

60,740

316,240

281,058

CREDITORS

2,278,706

Amounts falling due within one year

8

2,609,790

(1,962,466

)

NET CURRENT LIABILITIES

(2,328,732

)

(1,948,557

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,086,261

)

2,012

PROVISIONS FOR LIABILITIES

494

(1,950,569

)

NET LIABILITIES

(2,086,755

)

CAPITAL AND RESERVES

1,000

Called up share capital

1,000

(1,951,569

)

Retained earnings

(2,087,755

)

(1,950,569

)

SHAREHOLDERS' FUNDS

(2,086,755

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2020 and were signed on its behalf by:

A J Lionakis - Director

1.	STATUTORY INFORMATION

Digital Home Visits Technologies Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents & Licences are being amortised evenly over their estimated useful life of five years.

Development Costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer Equipment

-

25% on straight line

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

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.

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.

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.

Research and development

Expenditure on research and development, other than the amount which is being capitalised and yet to be amortised, is written off in the year in which it is incurred.

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.

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.

Going concern

The financial statements are prepared on a going concern basis on the grounds that continued financial support will be made available by the shareholders.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 13 ) .

5.	INTANGIBLE FIXED ASSETS

Patents &

Development

Totals

Licences

Costs

£

£

£

COST

At 1 April 2019

10,600

10,600

-

Additions

298,911

-

298,911

At 31 March 2020

309,511

10,600

298,911

AMORTISATION

At 1 April 2019

7,280

7,280

-

Amortisation for year

62,362

2,580

59,782

At 31 March 2020

69,642

9,860

59,782

NET BOOK VALUE

At 31 March 2020

239,869

740

239,129

At 31 March 2019

3,320

3,320

-

6.	TANGIBLE FIXED ASSETS

Computer

Equipment

£

COST

At 1 April 2019

29,876

Disposals

(332

)

At 31 March 2020

29,544

DEPRECIATION

At 1 April 2019

19,287

Charge for year

7,696

Eliminated on disposal

(41

)

At 31 March 2020

26,942

NET BOOK VALUE

At 31 March 2020

2,602

At 31 March 2019

10,589

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

as

restated

£

£

Trade debtors

52,770

-

Other debtors

167,548

300,625

220,318

300,625

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

as

restated

£

£

Trade creditors

2,673

53,151

Amounts owed to group undertakings

2,555,385

2,268,020

Taxation and social security

22,065

(62,986

)

Other creditors

29,667

20,521

2,609,790

2,278,706

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Digital Home Visits Limited.