Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2021-04-01falseNo description of principal activity22true 11886965 2021-04-01 2022-03-31 11886965 2020-04-01 2021-03-31 11886965 2022-03-31 11886965 2021-03-31 11886965 c:Director1 2021-04-01 2022-03-31 11886965 d:ComputerEquipment 2021-04-01 2022-03-31 11886965 d:ComputerEquipment 2022-03-31 11886965 d:ComputerEquipment 2021-03-31 11886965 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 11886965 d:CurrentFinancialInstruments 2022-03-31 11886965 d:CurrentFinancialInstruments 2021-03-31 11886965 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11886965 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 11886965 d:ShareCapital 2022-03-31 11886965 d:ShareCapital 2021-03-31 11886965 d:RetainedEarningsAccumulatedLosses 2022-03-31 11886965 d:RetainedEarningsAccumulatedLosses 2021-03-31 11886965 c:FRS102 2021-04-01 2022-03-31 11886965 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 11886965 c:FullAccounts 2021-04-01 2022-03-31 11886965 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 11886965 2 2021-04-01 2022-03-31 11886965 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 11886965










PRODUCTION DIGITAL LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2022

 
PRODUCTION DIGITAL LTD
REGISTERED NUMBER: 11886965

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,168
1,317

Current assets
  

Debtors: amounts falling due within one year
 5 
58,911
22,143

Cash at bank and in hand
  
299,799
172,663

  
358,710
194,806

Creditors: amounts falling due within one year
 6 
(118,693)
(101,441)

Net current assets
  
 
 
240,017
 
 
93,365

Total assets less current liabilities
  
247,185
94,682

Provisions for liabilities
  

Deferred tax
 7 
(1,792)
(250)

Net assets
  
245,393
94,432


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
245,293
94,332

  
245,393
94,432

Page 1

 
PRODUCTION DIGITAL LTD
REGISTERED NUMBER: 11886965
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






S P Hornsby
Director

Date: 8 August 2022

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PRODUCTION DIGITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

The company, which is incorporated and registered in England and Wales (registered number
11886965), is a privately owned company limited by shares. The registered office is 10 Edward Road, Farnham, Surrey, England, GU9 8NP. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Revenue

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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
PRODUCTION DIGITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

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.

Page 4

 
PRODUCTION DIGITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Creditors

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.

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.10

Financial instruments

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 ordinary shares.

 
2.11

Dividends

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.

Page 5

 
PRODUCTION DIGITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.12

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Page 6

 
PRODUCTION DIGITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 April 2021
2,178


Additions
6,487



At 31 March 2022

8,665



Depreciation


At 1 April 2021
861


Charge for the year on owned assets
636



At 31 March 2022

1,497



Net book value



At 31 March 2022
7,168



At 31 March 2021
1,317


5.


Debtors

2022
2021
£
£


Trade debtors
27,522
21,701

Other debtors
1,644
442

Prepayments and accrued income
29,745
-

58,911
22,143



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Corporation tax
49,894
27,067

Other creditors
66,299
71,874

Accruals and deferred income
2,500
2,500

118,693
101,441


Page 7

 
PRODUCTION DIGITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

7.


Deferred taxation



2022


£






At beginning of year
(250)


Charged to profit or loss
(1,542)



At end of year
(1,792)

2022
£


Accelerated capital allowances
(1,792)

(1,792)

 
Page 8