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REGISTERED NUMBER: 04622211 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Digital Dragons Global Limited

Digital Dragons Global Limited (Registered number: 04622211)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Digital Dragons Global Limited (Registered number: 04622211)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,570 3,657

CURRENT ASSETS
Debtors 5 3,672 -
Cash at bank 40,270 106,927
43,942 106,927
CREDITORS
Amounts falling due within one year 6 8,394 27,290
NET CURRENT ASSETS 35,548 79,637
TOTAL ASSETS LESS CURRENT LIABILITIES 42,118 83,294

CREDITORS
Amounts falling due after more than one
year

7

75,601

90,791
NET LIABILITIES (33,483 ) (7,497 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (33,583 ) (7,597 )
SHAREHOLDERS' FUNDS (33,483 ) (7,497 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Dragons Global Limited (Registered number: 04622211)

Balance Sheet - continued
31 March 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





Mr D L Loades - Director


Digital Dragons Global Limited (Registered number: 04622211)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Digital Dragons Global Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04622211

Registered office: Studio 2
Silverdale Enterprise Centre
Newcastle-Under-Lyme
Staffordshire
ST5 6SR

The presentation currency of the financial statements is the Pound Sterling (£).


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.

After making enquires, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The financial statements have been prepared on a going concern basis notwithstanding the deficit in net assets. The main creditor of the company is the directors who are owed £40,786. The directors, who also own 100% of the company shareholdings, are prepared to continue to support the development of the company for the next year, and the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recongnised as the company becomes entitled to consideration for the service supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Digital Dragons Global Limited (Registered number: 04622211)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2022 27,034 - 27,034
Additions 1,867 2,500 4,367
At 31 March 2023 28,901 2,500 31,401
DEPRECIATION
At 1 April 2022 23,377 - 23,377
Charge for year 829 625 1,454
At 31 March 2023 24,206 625 24,831
NET BOOK VALUE
At 31 March 2023 4,695 1,875 6,570
At 31 March 2022 3,657 - 3,657

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 180 -
Other debtors 3,492 -
3,672 -

Digital Dragons Global Limited (Registered number: 04622211)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,000 5,000
Taxation and social security 2,389 20,225
Other creditors 1,005 2,065
8,394 27,290

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 34,815 40,370
Other creditors 40,786 50,421
75,601 90,791

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 14,815 20,370

8. SECURED DEBTS

Fixed and Floating charges are held over the assets of the Company.