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REGISTERED NUMBER: 06617628 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

DIGITALIS MEDIA LIMITED

DIGITALIS MEDIA LIMITED (REGISTERED NUMBER: 06617628)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


DIGITALIS MEDIA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: D J King
G M Wood



REGISTERED OFFICE: DS House
306 High Street
Croydon
Surrey
CR0 1NG



REGISTERED NUMBER: 06617628 (England and Wales)



AUDITORS: DSK Partners LLP
Chartered Accountants and Statutory Auditors
D S House
306 High Street
Croydon
Surrey
CR0 1NG



SOLICITORS: Quills Solicitors
68 Beverley Road
Barming
Maidstone
Kent
ME16 9JR

DIGITALIS MEDIA LIMITED (REGISTERED NUMBER: 06617628)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 31,087 31,087
Tangible assets 5 583,689 358,899
Investments 6 520,101 520,101
1,134,877 910,087

CURRENT ASSETS
Debtors 7 238,204 225,945
Cash at bank 2,600,777 2,914,042
2,838,981 3,139,987
CREDITORS
Amounts falling due within one year 8 3,019,772 3,689,610
NET CURRENT LIABILITIES (180,791 ) (549,623 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

954,086

360,464

CAPITAL AND RESERVES
Called up share capital 13,625 13,316
Capital redemption reserve 7,487 7,487
Other reserves 593,356 593,356
Retained earnings 339,618 (253,695 )
SHAREHOLDERS' FUNDS 954,086 360,464

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 6 February 2024 and were signed on its behalf by:





D J King - Director


DIGITALIS MEDIA LIMITED (REGISTERED NUMBER: 06617628)

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


1. STATUTORY INFORMATION

Digitalis Media Limited 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 Pound Sterling (£) rounded to the nearest Pound.

2. ACCOUNTING POLICIES

Basis of preparation
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.

Preparation of consolidated financial statements
The financial statements contain information about Digitalis Media Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents the invoiced value of goods and services supplied to customers net of value added tax.

Goodwill
Goodwill attaching to the business acquired from an associated unincorporated business has been capitalised under the heading of Intangible Fixed Assets. Goodwill is amortised through the Income Statement over a period not exceeding 10 years, in line with the provisions of FRS 102. This is estimated by the directors to be the useful economic life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any indication of impairment losses.

Patents and licences are not currently being amortised.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives on a straight line basis as follows:

Fixtures and Fittings- 3 years straight line
Computer Equipment - 3 years straight line
Software Development- 3 years straight line

Assets held under finance leases are depreciated in the same way as owned assets.

At each statement of financial position date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.


DIGITALIS MEDIA LIMITED (REGISTERED NUMBER: 06617628)

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


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
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 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.

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.

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand and demand deposits with banks.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 58 (2022 - 57 ) .

DIGITALIS MEDIA LIMITED (REGISTERED NUMBER: 06617628)

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 98,001 31,087 129,088
AMORTISATION
At 1 April 2022
and 31 March 2023 98,001 - 98,001
NET BOOK VALUE
At 31 March 2023 - 31,087 31,087
At 31 March 2022 - 31,087 31,087

5. TANGIBLE FIXED ASSETS
Fixtures
Software and Computer
development fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 1,422,417 303,204 402,441 2,128,062
Additions 334,575 5,098 33,667 373,340
At 31 March 2023 1,756,992 308,302 436,108 2,501,402
DEPRECIATION
At 1 April 2022 1,120,528 290,696 357,939 1,769,163
Charge for year 103,585 9,536 35,429 148,550
At 31 March 2023 1,224,113 300,232 393,368 1,917,713
NET BOOK VALUE
At 31 March 2023 532,879 8,070 42,740 583,689
At 31 March 2022 301,889 12,508 44,502 358,899

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Investment in subsidiaries at
cost 520,101 520,101

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 238,204 225,945

DIGITALIS MEDIA LIMITED (REGISTERED NUMBER: 06617628)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 173,948 217,980
Other creditors 2,845,824 3,471,630
3,019,772 3,689,610

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Romit Basu FCA (Senior Statutory Auditor)
for and on behalf of DSK Partners LLP