Company registration number 08045114 (England and Wales)
DEBIT TECH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
PAGES FOR FILING WITH REGISTRAR
DEBIT TECH LIMITED
COMPANY INFORMATION
Director
Mr S Robins
Company number
08045114
Registered office
325-327 Oldfield Lane North
Greenford
Middlesex
UB6 0FX
Accountants
Landau Morley LLP
325-327 Oldfield Lane North
Greenford
Middlesex
UB6 0FX
DEBIT TECH LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
DEBIT TECH LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2022
30 September 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,002
1,502
Current assets
Debtors
4
87,545
67,423
Cash at bank and in hand
5,912
6,238
93,457
73,661
Creditors: amounts falling due within one year
5
(51,609)
(26,912)
Net current assets
41,848
46,749
Net assets
42,850
48,251
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
42,750
48,151
Total equity
42,850
48,251

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 30 September 2023
Mr S Robins
Director
Company Registration No. 08045114
DEBIT TECH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 2 -
1
Accounting policies
Company information

Debit Tech Limited is a private company limited by shares incorporated in England and Wales. The registered office is 325-327 Oldfield Lane North, Greenford, Middlesex, UB6 0FX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

These financial statements for the year ended 30 September 2022 are the first financial statements of Debit Tech Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 October 2020. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer Software
25% on reducing balance
1.4
Impairment of fixed assets

These financial statements for the year ended 30 September 2022 are the first financial statements of Debit Tech Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 October 2020. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.5
Equity instruments

These financial statements for the year ended 30 September 2022 are the first financial statements of Debit Tech Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 October 2020. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.6
Taxation

These financial statements for the year ended 30 September 2022 are the first financial statements of Debit Tech Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 October 2020. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

Current tax

The tax currently payable is based on taxable profit for the year.

DEBIT TECH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 3 -
Deferred tax

These financial statements for the year ended 30 September 2022 are the first financial statements of Debit Tech Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 October 2020. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

 

2022
2021
Number
Number
Total
1
1
3
Tangible fixed assets
Computer Software
£
Cost
At 1 October 2021 and 30 September 2022
20,000
Depreciation and impairment
At 1 October 2021
18,498
Depreciation charged in the year
500
At 30 September 2022
18,998
Carrying amount
At 30 September 2022
1,002
At 30 September 2021
1,502
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
86,393
67,423
Corporation tax recoverable
1,152
-
0
87,545
67,423
DEBIT TECH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 4 -
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
33,717
(4,263)
Corporation tax
-
0
3,317
Other taxation and social security
13,891
13,905
Other creditors
-
0
10,453
Accruals and deferred income
4,001
3,500
51,609
26,912
6
Directors' transactions

Dividends totalling £0 (2021 - £4,000) were paid in the year in respect of shares held by the company's directors.

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