1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,205 1,394 1,035 2,429 776 1,811 xbrli:pure xbrli:shares iso4217:GBP 09447194 2022-03-01 2023-02-28 09447194 2023-02-28 09447194 2022-02-28 09447194 2021-03-01 2022-02-28 09447194 2022-02-28 09447194 2021-02-28 09447194 bus:Director1 2022-03-01 2023-02-28 09447194 core:WithinOneYear 2023-02-28 09447194 core:WithinOneYear 2022-02-28 09447194 core:ShareCapital 2023-02-28 09447194 core:ShareCapital 2022-02-28 09447194 core:RetainedEarningsAccumulatedLosses 2023-02-28 09447194 core:RetainedEarningsAccumulatedLosses 2022-02-28 09447194 bus:SmallEntities 2022-03-01 2023-02-28 09447194 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 09447194 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 09447194 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 09447194 bus:FullAccounts 2022-03-01 2023-02-28 09447194 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 09447194 core:FurnitureFittingsToolsEquipment 2023-02-28 09447194 core:FurnitureFittingsToolsEquipment 2022-02-28
COMPANY REGISTRATION NUMBER: 09447194
Digital Insights (DIA) Limited
Filleted Unaudited Financial Statements
28 February 2023
Digital Insights (DIA) Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
776
1,811
Current assets
Debtors
6
5,158
9,140
Cash at bank and in hand
5,734
13,612
--------
--------
10,892
22,752
Creditors: amounts falling due within one year
7
6,637
10,265
--------
--------
Net current assets
4,255
12,487
-------
--------
Total assets less current liabilities
5,031
14,298
Provisions
Taxation including deferred tax
147
344
-------
--------
Net assets
4,884
13,954
-------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
4,784
13,854
-------
--------
Shareholders funds
4,884
13,954
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Digital Insights (DIA) Limited
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 10 November 2023 , and are signed on behalf of the board by:
Mr G Delayahu
Director
Company registration number: 09447194
Digital Insights (DIA) Limited
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 38 Mill Street, Bedford, MK40 3HD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 March 2022 and 28 February 2023
3,205
3,205
-------
-------
Depreciation
At 1 March 2022
1,394
1,394
Charge for the year
1,035
1,035
-------
-------
At 28 February 2023
2,429
2,429
-------
-------
Carrying amount
At 28 February 2023
776
776
-------
-------
At 28 February 2022
1,811
1,811
-------
-------
6. Debtors
2023
2022
£
£
Trade debtors
4,601
6,624
Other debtors
557
2,516
-------
-------
5,158
9,140
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
240
Corporation tax
3,591
8,328
Social security and other taxes
55
137
Other creditors
2,991
1,560
-------
--------
6,637
10,265
-------
--------
8. Director's advances, credits and guarantees
The director had an outstanding advance of £213 at the start of the balance sheet period. This was repaid within the financial year.