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REGISTERED NUMBER: 06247080 (England and Wales)














DIGITAL IMAGE SOLUTIONS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






DIGITAL IMAGE SOLUTIONS LTD (REGISTERED NUMBER: 06247080)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


DIGITAL IMAGE SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: K A Lawford
J Lawford





SECRETARY: Mrs E Lawford





REGISTERED OFFICE: 82 High Street
Tenterden
Kent
TN30 6JG





REGISTERED NUMBER: 06247080 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG

DIGITAL IMAGE SOLUTIONS LTD (REGISTERED NUMBER: 06247080)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,559 13,111

CURRENT ASSETS
Stocks 5 86,348 74,563
Debtors 6 84,070 67,236
Cash at bank and in hand 242,142 268,174
412,560 409,973
CREDITORS
Amounts falling due within one year 7 145,420 182,758
NET CURRENT ASSETS 267,140 227,215
TOTAL ASSETS LESS CURRENT
LIABILITIES

290,699

240,326

CREDITORS
Amounts falling due after more than one
year

8

27,442

37,271
NET ASSETS 263,257 203,055

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 263,157 202,955
SHAREHOLDERS' FUNDS 263,257 203,055

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 IMAGE SOLUTIONS LTD (REGISTERED NUMBER: 06247080)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2023 and were signed on its behalf by:





K A Lawford - Director


DIGITAL IMAGE SOLUTIONS LTD (REGISTERED NUMBER: 06247080)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Digital Image Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Office Equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Government grants
Grant income has been recognised under the performance model. Grants that do not specify any future performance-related conditions are recorded when the grant proceeds are received or receivable. Any grant that imposes specified future performance-related conditions is recognised only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 IMAGE SOLUTIONS LTD (REGISTERED NUMBER: 06247080)

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Office Motor Computer
machinery Equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 698 11,100 33,485 28,931 74,214
Additions - 212 - 17,965 18,177
At 31 March 2023 698 11,312 33,485 46,896 92,391
DEPRECIATION
At 1 April 2022 654 8,864 23,680 27,905 61,103
Charge for year 44 490 2,451 4,744 7,729
At 31 March 2023 698 9,354 26,131 32,649 68,832
NET BOOK VALUE
At 31 March 2023 - 1,958 7,354 14,247 23,559
At 31 March 2022 44 2,236 9,805 1,026 13,111

DIGITAL IMAGE SOLUTIONS LTD (REGISTERED NUMBER: 06247080)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. STOCKS
2023 2022
£    £   
Stocks 86,348 74,563

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 80,737 63,913
Other debtors 1,000 1,000
Prepayments 2,333 2,323
84,070 67,236

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,829 9,586
Trade creditors 44,333 85,111
Tax 10,720 12,532
Social security and other taxes 13,398 13,067
Pensions 1,567 1,416
VAT 37,566 28,599
Credit card 1,473 631
Directors' current accounts 5,745 4,000
Deferred income 18,339 25,366
Accrued expenses 2,450 2,450
145,420 182,758

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
BB Loan 1 - 2 years 10,077 9,829
BB Loan 2 - 5 years 17,365 27,442
27,442 37,271

9. LEASING AGREEMENTS
The company has office rental agreements on three month rolling terms. The current monthly charge is £1,438.