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Registered Number: 09776266
England and Wales

 

 

 

DIGIIO LTD


Abridged Accounts
 


Period of accounts

Start date: 01 December 2021

End date: 31 March 2023
 
 
Notes
 
2023
£
  2021
£
Fixed assets      
Tangible fixed assets 3 2,787,921    2,101,278 
Investments 4 1,461    1,113 
2,789,382    2,102,391 
Current assets      
Debtors 362,064    354,147 
Cash at bank and in hand 361,647    621,055 
723,711    975,202 
Creditors: amount falling due within one year (448,952)   (607,259)
Net current assets 274,759    367,943 
 
Total assets less current liabilities 3,064,141    2,470,334 
Creditors: amount falling due after more than one year (348,068)   (481,880)
Provisions for liabilities (12,517)   (12,016)
Net assets 2,703,556    1,976,438 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 2,703,456    1,976,338 
Shareholder's funds 2,703,556    1,976,438 
 


For the period ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 22 November 2023 and were signed on its behalf by:


-------------------------------
Mrs S Allen
Director
1
General Information
Digiio Ltd is a private company, limited by shares, registered in England and Wales, registration number 09776266, registration address Merlin House, Brunel Road Theale, Reading, RG7 4AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover represents net sales of services, excluding value added tax. Income is recognised when the company obtains the right to consideration
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, 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 statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and 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.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment - 33% on cost
Fixtures & Fittings - 15% on cost
Motor Vehicle - 20% on cost
Improvements to property - 15% on cost
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Investment properties
Investment property is shown as its most recent valuation. Any aggregate surplus or deficit arising from changes in market value is recognised in the profit and loss account. No depreciation has been provided for on freehold property held for Investment purpose.
Investments
Investments are measured at fair value with any initial transaction costs expensed through the profit an loss. No deduction have been made for transaction costs that may be incurred upon the sale of the investment.
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.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the period was 13 (2021 : 14).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Investment properties   Improvements to property   Total
  £   £   £   £   £   £
At 01 December 2021 52,990    2,884    53,623    2,038,033      2,147,530 
Additions   17,604    14,803    684,010    11,148    727,565 
Disposals          
At 31 March 2023 52,990    20,488    68,426    2,722,043    11,148    2,875,095 
Depreciation
At 01 December 2021 10,598    504    35,150        46,252 
Charge for period 14,131    3,398    21,566      1,827    40,922 
On disposals          
At 31 March 2023 24,729    3,902    56,716      1,827    87,174 
Net book values
Closing balance as at 31 March 2023 28,261    16,586    11,710    2,722,043    9,321    2,787,921 
Opening balance as at 01 December 2021 42,392    2,380    18,473    2,038,033      2,101,278 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 December 2021 1,113    1,113 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
Revaluations 348    348 
At 31 March 2023 1,461    1,461 

5.

Advances and Credits



Mrs S Allen
The following advances and credits to a director subsisted during the years ended 31 March 2023 and 30 November 2021 : The loan is interest free with no fixed date for repayment.

Current year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
WrittenOff
£
Waived
£
Carry Forward
£
Mrs S Allen10,765 57,337 50,165 17,937 
10765573370501650017937
Previous year (2021)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
WrittenOff
£
Waived
£
Carry Forward
£
Mrs S Allen10,839 18,393 18,467 10,765 
10839183930184670010765
6.

Leasing Agreements - Hire Purchase Contracts

Minimum lease payments fall due as follows:   2023
£
  2021
£
Within one year 8,800  8,800 
Between one and five years 19,800  28,600 
28,600  37,400 

Assets purchased under hire purchase are secured on the assets themselves.
7.

Leasing Agreements

Non cancellable operating leases   2023
£
  2021
£
Within one year 52,397  40,800 
Between one and five years 49,373 
101,770  40,800 

8.

Debtors: amounts falling due within one year

.   2023
£
  2021
£
Trade Debtors 330,204  27,900 
Prepayments and Accrued Income 6,095  7,891 
Other Debtors 7,828  307,591 
Director's Current Accounts 17,937  10,765 
362,064  354,147 

9.

Creditors: amounts falling due within one year

.   2023
£
  2021
£
Trade Creditors 32,326  12,766 
Bank Loans & Overdrafts 95,417  95,417 
Corporation Tax 189,781  394,756 
PAYE & Social Security 12,417  13,076 
Accrued Expenses 48,373  42,674 
Other Creditors 1,466  7,257 
Obligations under HP/Financial Leases 8,800  8,800 
VAT 60,372  32,513 
448,952  607,259 

10.

Creditors: amounts falling due after more than one year

.   2023
£
  2021
£
Bank Loans and Overdrafts 328,268  450,347 
Obligations Under HP/Financial Leases 19,800  31,533 
348,068  481,880 

11.

Ultimate Controlling Party

The Ultimate Controlling Party is Mrs S Allen.
2