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Digitrains Ltd
Registered Number:05337082
For the year ended 31 December 2021
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2021
Digitrains Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
05337082
As at 31 December 2021
Digitrains Ltd
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Intangible assets
6,168
7,709
2
Property, plant and equipment
5,596
6,593
3
11,764
14,302
Current assets
Inventories
160,512
214,135
4
Trade and other receivables
95
1,059
5
80,019
Cash and cash equivalents
45,054
260,248
240,626
Trade and other payables: amounts falling due within one year
(36,480)
(44,038)
6
204,146
216,210
Net current assets
Total assets less current liabilities
227,974
218,448
227,974
Net assets
218,448
Capital and reserves
Called up share capital
1,000
1,000
Retained earnings
226,974
217,448
227,974
218,448
Shareholders' funds
For the year ended 31 December 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 of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Jeremy Fairlie-Smith Director
These financial statements were approved and authorised for issue by the Board on 05 April 2022 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2021
Digitrains Ltd
Notes to the Financial Statements
Statutory Information
Digitrains Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number 05337082.
Registered address:
15 Clifton Street
Lincoln
Lincs
LN5 8LQ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain
assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
The intangile assets are sound software that is being written off over its expected lifetime
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20% Reducing balance
20% Reducing balance
Motor vehicles
20% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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5
For the year ended 31 December 2021
Digitrains Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Sound software
Cost or valuation
£
At 01 January 2021
18,818
At 31 December 2021
18,818
Amortisation
At 01 January 2021
11,109
1,541
Charge for year
At 31 December 2021
12,650
Net book value
At 31 December 2021
6,168
At 31 December 2020
7,709
3. Property, plant and equipment
Total
Fixtures and
fittings
Plant and
machinery
£
£
£
Cost or valuation
At 01 January 2021
37,920
10,807
27,113
400
-
400
Additions
At 31 December 2021
27,513
10,807
38,320
Provision for depreciation and impairment
At 01 January 2021
31,327
8,423
22,904
Charge for year
1,397
476
921
At 31 December 2021
32,724
8,899
23,825
At 31 December 2021
Net book value
3,688
1,908
5,596
At 31 December 2020
4,209
2,384
6,593
4. Inventories
2020
2021
£
£
Stocks
214,135
160,512
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6
For the year ended 31 December 2021
Digitrains Ltd
Notes to the Financial Statements Continued
5. Trade and other receivables
2020
2021
£
£
Trade debtors
1,059
95
6. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Bank loans and overdraft
2,978
6,915
Trade creditors
27,449
23,410
Taxation and social security
13,611
6,155
44,038
36,480
7. Average number of persons employed
During the year the average number of employees was 4 (2020 : 4)
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