GIGASOFT DATA PROTECTION LIMITED

Company Registration Number:
05805761 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

GIGASOFT DATA PROTECTION LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

GIGASOFT DATA PROTECTION LIMITED

Balance sheet

As at 31 March 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 2,250 14,750
Tangible assets: 4 645,465 687,719
Investments: 5 0 35,000
Total fixed assets: 647,715 737,469
Current assets
Debtors:   467,439 534,775
Cash at bank and in hand: 8,820 10,422
Total current assets: 476,259 545,197
Creditors: amounts falling due within one year:   (476,268) (501,001)
Net current assets (liabilities): (9) 44,196
Total assets less current liabilities: 647,706 781,665
Creditors: amounts falling due after more than one year:   (409,491) (482,050)
Provision for liabilities: (2,718) (10,625)
Total net assets (liabilities): 235,497 288,990
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 234,497 287,990
Shareholders funds: 235,497 288,990

The notes form part of these financial statements

GIGASOFT DATA PROTECTION LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 18 September 2023
and signed on behalf of the board by:

Name: Mr M Whitting
Status: Director

The notes form part of these financial statements

GIGASOFT DATA PROTECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 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 basis:-Land and buildings Freehold No chargeFixtures, fittings & equipment 25% straight lineThe gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss

Intangible fixed assets and amortisation policy

Intangible Fixed AssetsGoodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

Other accounting policies

Going Concern At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements

GIGASOFT DATA PROTECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

2023 2022
Average number of employees during the period 3 5

GIGASOFT DATA PROTECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Intangible Assets

Total
Cost £
At 01 April 2022 125,000
At 31 March 2023 125,000
Amortisation
At 01 April 2022 110,250
Charge for year 12,500
At 31 March 2023 122,750
Net book value
At 31 March 2023 2,250
At 31 March 2022 14,750

GIGASOFT DATA PROTECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Tangible Assets

Total
Cost £
At 01 April 2022 1,068,867
At 31 March 2023 1,068,867
Depreciation
At 01 April 2022 381,148
Charge for year 42,254
At 31 March 2023 423,402
Net book value
At 31 March 2023 645,465
At 31 March 2022 687,719

National Westminster Bank have a fixed and floating charge over the undertaking in relation to all monies due or becoming due. The fixed and floating charges covers all property and assets present and future, including goodwill, uncalled share capital, buildings, fixtures and plant and machinery

GIGASOFT DATA PROTECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Fixed investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss