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REGISTERED NUMBER: 08457083 (England and Wales)









DIGITAL VICTORY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022






DIGITAL VICTORY LTD (REGISTERED NUMBER: 08457083)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIGITAL VICTORY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: Mrs S Whitehead
A Whitehead





REGISTERED OFFICE: 2nd Floor, College House
17 King Edwards Road
Ruislip
London
HA4 7AE





REGISTERED NUMBER: 08457083 (England and Wales)






DIGITAL VICTORY LTD (REGISTERED NUMBER: 08457083)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,321 2,662
Investment property 5 - 362,654
1,321 365,316

CURRENT ASSETS
Debtors 6 229,543 174,297
Cash at bank 348,562 84,286
578,105 258,583
CREDITORS
Amounts falling due within one year 7 144,702 102,550
NET CURRENT ASSETS 433,403 156,033
TOTAL ASSETS LESS CURRENT
LIABILITIES

434,724

521,349

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 434,624 521,249
SHAREHOLDERS' FUNDS 434,724 521,349

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 VICTORY LTD (REGISTERED NUMBER: 08457083)

BALANCE SHEET - continued
31 MARCH 2022


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2022 and were signed on its behalf by:





A Whitehead - Director


DIGITAL VICTORY LTD (REGISTERED NUMBER: 08457083)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Digital Victory 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentational currency of the financial statements is in Pound Sterling (£)

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making his assessment, the director has reviewed the balance sheet, the likely future cashflows of the business and has considered the facilities that are available to the company along with his continued support.

The Director has considered the ongoing impact of Covid-19 on the operations of the entity and the entities ability to continue as a going concern. The Director has and will continue to take a number of actions to financially safeguard the company and minimise the effects of the Covid 19.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce balance sheet values of assets to the recoverable amounts and to provide for further liabilities that may arise, and to reclassify fixed asset and long-term liabilities as current assets and liabilities.

At the date of approving the financial statements the Director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The director continues to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described above, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

(i) Investment Properties - The fair value of investment properties involved the use of professional valuation techniques, which are reviewed annually by management. Where factors that could impact the fair value are identified, appropriate adjustments are made through the income statement.

DIGITAL VICTORY LTD (REGISTERED NUMBER: 08457083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued

Turnover
Rendering of services

Turnover is recognised at the fair value of the consideration received or receivable for recruitment training services which is shown net of VAT and other sales related taxes. Turnover is recognised at the point when all benefits of the services provided are transferred to the customer

Rental Income

Rental income is recognised at the fair value of rent received or receivable in the normal course of business. Rental income is recognised in the period which it relates.

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives:


Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investment property
Investment properties are held to generate rental income and capital appreciation.

Investment properties are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Investment properties are subsequently remeasured at fair value. An assessment of investment property fair value is performed annually by the director. Any changes in fair value are recognised in the income statement.

Deferred tax is recognised on any fair value changes at the rate that would apply to the sale of the investment property, unless the property has a limited useful life and is held as part of a business model to consume all of the economic benefits associated with it.


DIGITAL VICTORY LTD (REGISTERED NUMBER: 08457083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Operating lease commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight-line basis in the period which it relates too.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

DIGITAL VICTORY LTD (REGISTERED NUMBER: 08457083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets are liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

DIGITAL VICTORY LTD (REGISTERED NUMBER: 08457083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2021
and 31 March 2022 524 9,570 10,094
DEPRECIATION
At 1 April 2021 524 6,908 7,432
Charge for year - 1,341 1,341
At 31 March 2022 524 8,249 8,773
NET BOOK VALUE
At 31 March 2022 - 1,321 1,321
At 31 March 2021 - 2,662 2,662

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2021 362,654
Disposals (362,654 )
At 31 March 2022 -
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 362,654

The property is initially recognised at cost which is deemed to be its fair value. The property value is reviewed on an annual basis and subsequently remeasured by the directors with reference to a rental yield calculation to determine its fair value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 55,387 44,086
Directors' loan accounts 174,156 130,211
229,543 174,297

DIGITAL VICTORY LTD (REGISTERED NUMBER: 08457083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 240 540
Other loans 20,101 -
Trade creditors - 5,750
Corporation tax 56,734 40,291
Social security and other taxes 417 -
VAT 4,403 4,463
Other creditors 55,387 44,086
Accrued expenses 7,420 7,420
144,702 102,550

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year - 3,812

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

DIGITAL VICTORY LTD (REGISTERED NUMBER: 08457083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year ended 31 March 2022 the directors maintained an interest free loan account with the company, which was repayable on demand. The movements in the loan accounts were as follows:

20222021
Mr A Whitehead££

Balance brought forward(130,212)5,439
Amounts introduced into the company196,844206,319
Amounts withdrawn from the company(240,778)(341,969)
Balance carried forward(174,156)(130,212)

This balance is included within debtors amounts falling due within one year.

As at 31 March 2022 the company owed Mrs S Whitehead £NIL (2021: £NIL) which is included within the creditors amounts falling due within one year.

In the year ended 31 March 2022, the company disposed of its investment property to Mr A Whitehead, for consideration of £385,000 which is considered to be the fair value of the property and is what would have been achieved if sold on the open market to a willing 3rd party customer.
The transaction was completed at arms-length.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the Directors who own all of the issued share capital of the company.