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REPORT OF THE DIRECTOR AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019 |
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DECIMAL FACTOR LIMITED |
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REGISTERED NUMBER:
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REPORT OF THE DIRECTOR AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019 |
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FOR |
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DECIMAL FACTOR LIMITED |
DECIMAL FACTOR LIMITED (REGISTERED NUMBER: 06596471) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
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Company Information | 1 |
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Report of the Director | 2 |
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Report of the Accountants | 3 |
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Income Statement | 4 |
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Balance Sheet | 5 |
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Notes to the Financial Statements | 7 |
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DECIMAL FACTOR LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Third Floor |
126-134 Baker Street |
London |
W1U 6UE |
DECIMAL FACTOR LIMITED (REGISTERED NUMBER: 06596471) |
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REPORT OF THE DIRECTOR |
FOR THE YEAR ENDED 31 MARCH 2019 |
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The director presents his report with the financial statements of the company for the year ended 31 March 2019. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of providing marketing services and register |
master service provider for elavon merchant service. The company also provides a revolutionary mobile prepaid and top |
up platform to small retailers. |
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DIRECTOR |
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DIRECTOR'S RESPONSIBILITIES STATEMENT |
The director is responsible for preparing the Report of the Director and the financial statements in accordance with |
applicable law and regulations. |
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Company law requires the director to prepare financial statements for each financial year. Under that law the director |
has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting |
Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve |
the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and |
of the profit or loss of the company for that period. In preparing these financial statements, the director is required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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The director is responsible for keeping adequate accounting records that are sufficient to show and explain the |
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and |
enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for |
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud |
and other irregularities. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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ON BEHALF OF THE BOARD: |
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DECIMAL FACTOR LIMITED |
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REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF |
DECIMAL FACTOR LIMITED |
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As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2019 set out on pages four to nine and you consider that the company is exempt from an audit. |
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In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
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Chartered Accountants |
Third Floor |
126-134 Baker Street |
London |
W1U 6UE |
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DECIMAL FACTOR LIMITED (REGISTERED NUMBER: 06596471) |
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INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2019 |
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2019 | 2018 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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OPERATING PROFIT | 4 |
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Interest receivable and similar income |
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250,115 | 7,400 |
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Interest payable and similar expenses |
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PROFIT BEFORE TAXATION |
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Tax on profit |
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PROFIT FOR THE FINANCIAL YEAR |
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DECIMAL FACTOR LIMITED (REGISTERED NUMBER: 06596471) |
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BALANCE SHEET |
31 MARCH 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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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 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
DECIMAL FACTOR LIMITED (REGISTERED NUMBER: 06596471) |
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BALANCE SHEET - continued |
31 MARCH 2019 |
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The financial statements were authorised for issue by the director on
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DECIMAL FACTOR LIMITED (REGISTERED NUMBER: 06596471) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
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1. | STATUTORY INFORMATION |
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Decimal Factor Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going Concern |
The director considers that the financial resources available to the Company are adequate to meet its operational |
needs for the foreseeable future or at least 12 months from the date of signature of these accounts. Accordingly, |
the going concern basis has been adopted in preparing these financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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. |
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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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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. |
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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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DECIMAL FACTOR LIMITED (REGISTERED NUMBER: 06596471) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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2019 | 2018 |
£ | £ |
Depreciation - owned assets |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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DECIMAL FACTOR LIMITED (REGISTERED NUMBER: 06596471) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Other creditors |
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10. | ULTIMATE CONTROLLING PARTY |
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Mr M Karkhanis is the ultimate controlling party by virtue of his shareholding. |