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

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


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REGISTERED NUMBER: 10385253 (England and Wales)















Financial Statements for the Year Ended 31 March 2018

for

Digital Home Visits Technologies Ltd.

Digital Home Visits Technologies Ltd. (Registered number: 10385253)






Contents of the Financial Statements
for the Year Ended 31 March 2018




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Digital Home Visits Technologies Ltd.

Company Information
for the Year Ended 31 March 2018







DIRECTOR: Ms D R Wood





SECRETARY: N Jabir





REGISTERED OFFICE: 2 Bath Place
Rivington Street
Shoreditch
London
EC2A 3DR





REGISTERED NUMBER: 10385253 (England and Wales)






Digital Home Visits Technologies Ltd. (Registered number: 10385253)

Statement of Financial Position
31 March 2018

31.3.17 31.3.18
£    £    Notes £    £   
FIXED ASSETS
8,480 Intangible assets 5 5,900
7,433 Tangible assets 6 16,842
15,913 22,742

CURRENT ASSETS
82,727 Debtors 7 211,301
- Cash at bank 3,251
82,727 214,552
CREDITORS
655,247 Amounts falling due within one year 8 1,525,772
(572,520 ) NET CURRENT LIABILITIES (1,311,220 )
(556,607 ) TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,288,478

)

- PROVISIONS FOR LIABILITIES 3,200
(556,607 ) NET LIABILITIES (1,291,678 )

CAPITAL AND RESERVES
1,000 Called up share capital 1,000
(557,607 ) Retained earnings (1,292,678 )
(556,607 ) SHAREHOLDERS' FUNDS (1,291,678 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Digital Home Visits Technologies Ltd. (Registered number: 10385253)

Statement of Financial Position - continued
31 March 2018


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.

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

The financial statements were approved by the director on 14 November 2018 and were signed by:





Ms D R Wood - Director


Digital Home Visits Technologies Ltd. (Registered number: 10385253)

Notes to the Financial Statements
for the Year Ended 31 March 2018

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

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.

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 reducing balance

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.


Digital Home Visits Technologies Ltd. (Registered number: 10385253)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

3. ACCOUNTING POLICIES - continued
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 of £103,096 and £261,475 for the period from 20
September 2016 to 31 March 2017 and for the year ended 31 March 2018 respectively has
been 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 15 (2017 - NIL ) .

Digital Home Visits Technologies Ltd. (Registered number: 10385253)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

5. INTANGIBLE FIXED ASSETS
Patents &
Licences
£   
COST
At 1 April 2017
and 31 March 2018 10,600
AMORTISATION
At 1 April 2017 2,120
Amortisation for year 2,580
At 31 March 2018 4,700
NET BOOK VALUE
At 31 March 2018 5,900
At 31 March 2017 8,480

6. TANGIBLE FIXED ASSETS
Computer
Equipment
£   
COST
At 1 April 2017 11,224
Additions 15,865
At 31 March 2018 27,089
DEPRECIATION
At 1 April 2017 3,791
Charge for year 6,456
At 31 March 2018 10,247
NET BOOK VALUE
At 31 March 2018 16,842
At 31 March 2017 7,433

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Other debtors 211,301 82,727

Digital Home Visits Technologies Ltd. (Registered number: 10385253)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade creditors 164,729 199,130
Amounts owed to group undertakings 1,318,564 449,867
Taxation and social security 19,017 -
Other creditors 23,462 6,250
1,525,772 655,247

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.18 31.3.17
£    £   
Within one year 154,800 -

10. RELATED PARTY DISCLOSURES

Creditors include loan from the holding company Digital Home Visits Limited in the amount
of £1,318,564. The loan is free of interest and repayable on demand.

Company's Turnover includes invoices totalling £137,818 being issued to the holding
company Digital Home Visits Limited. Sales invoices totalling £20,050 were outstanding on
31 March 2018 and were settled in the following month.

Other Debtors include accrued income of £111,103, to be invoiced to the holding company
Digital Home Visits Limited, for legal fees paid on its behalf.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Digital Home Visits Limited.