Company Registration No. 08188735 (England and Wales)
Digital Print Technologies Ltd
Unaudited accounts
for the year ended 31 August 2021
Digital Print Technologies Ltd
Unaudited accounts
Contents
Digital Print Technologies Ltd
Company Information
for the year ended 31 August 2021
Company Number
08188735 (England and Wales)
Registered Office
Congress House
Lyon Road
Harrow
HA1 2EN
United Kingdom
Accountants
Balmoral Consultancy Services Limited
Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN
Digital Print Technologies Ltd
Statement of financial position
as at 31 August 2021
Cash at bank and in hand
75,277
79,826
Creditors: amounts falling due within one year
(43,482)
(15,224)
Net current assets
166,342
199,474
Net assets
248,827
281,959
Called up share capital
100
100
Profit and loss account
248,727
281,859
Shareholders' funds
248,827
281,959
For the year ending 31 August 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 15 August 2022 and were signed on its behalf by
M Nixon
Director
Company Registration No. 08188735
Digital Print Technologies Ltd
Notes to the Accounts
for the year ended 31 August 2021
Digital Print Technologies Ltd is a private company, limited by shares, registered in England and Wales, registration number 08188735. The registered office is Congress House, Lyon Road, Harrow, HA1 2EN, United Kingdom.
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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 financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 .
The following principal accounting policies have been applied:
The accounts are presented in £ sterling.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Digital Print Technologies Ltd
Notes to the Accounts
for the year ended 31 August 2021
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Digital Print Technologies Ltd
Notes to the Accounts
for the year ended 31 August 2021
The average monthly number of employees, including directors, during the year was 1 (2020 - 1 ) .
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Investments
Other investments
Valuation at 1 September 2020
82,485
Valuation at 31 August 2021
82,485
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Debtors: amounts falling due within one year
2021
2020
Trade debtors
48,547
38,872
Accrued income and prepayments
86,000
-
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Creditors: amounts falling due within one year
2021
2020
Trade creditors
2,794
2,223
Taxes and social security
4,988
10,301
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Transactions with related parties
During the year the company paid dividends totalling £50,000 (2020: £95,000 ) to the director.
As at the balance sheet date, the company owed £33,000 (2020: £96,000 owed by) to Conversion-UK Ltd. M Nixon is also a director and majority shareholder of Conversion-Uk Ltd. There are no terms as to interest or repayment of this loan.
The company is controlled by M Nixon by virtue of his 100% shareholding in the company.
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Average number of employees
During the year the average number of employees was 1 (2020: 1).