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REGISTERED NUMBER: 05821246 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 May 2023

for

Digitech Solutions Global Limited

Digitech Solutions Global Limited (Registered number: 05821246)






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




Page

Company Information 1

Report of the Director 2

Income Statement 3

Other Comprehensive Income 4

Balance Sheet 5

Statement of Changes in Equity 7

Notes to the Financial Statements 8


Digitech Solutions Global Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: S Fafowora





SECRETARY:





REGISTERED OFFICE: The Business Centre
Unit 1 Finway
Luton
LU1 1TR





REGISTERED NUMBER: 05821246 (England and Wales)






Digitech Solutions Global Limited (Registered number: 05821246)

Report of the Director
for the Year Ended 31 May 2023

The director presents his report with the financial statements of the company for the year ended 31 May 2023.

DIRECTOR
S Fafowora held office during the whole of the period from 1 June 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S Fafowora - Director


8 February 2024

Digitech Solutions Global Limited (Registered number: 05821246)

Income Statement
for the Year Ended 31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   

TURNOVER 105,464 19,439

Cost of sales 37,184 29,523
GROSS PROFIT/(LOSS) 68,280 (10,084 )

Distribution costs - 8,893
Administrative expenses 185,191 28,040
185,191 36,933
OPERATING LOSS (116,911 ) (47,017 )


Interest payable and similar
expenses

4

-

594
LOSS BEFORE TAXATION 5 (116,911 ) (47,611 )

Tax on loss 6 - -
LOSS FOR THE FINANCIAL YEAR (116,911 ) (47,611 )

Digitech Solutions Global Limited (Registered number: 05821246)

Other Comprehensive Income
for the Year Ended 31 May 2023

31.5.23 31.5.22
Notes £    £   

LOSS FOR THE YEAR (116,911 ) (47,611 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(116,911

)

(47,611

)

Digitech Solutions Global Limited (Registered number: 05821246)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 1,454,775 1,454,775
Tangible assets 8 210 -
1,454,985 1,454,775

CURRENT ASSETS
Debtors 9 90,721 182,510
Cash at bank 1,478 4,105
92,199 186,615
CREDITORS
Amounts falling due within one year 10 24,506 7,643
NET CURRENT ASSETS 67,693 178,972
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,522,678

1,633,747

CREDITORS
Amounts falling due after more than
one year

11

532,981

529,139
NET ASSETS 989,697 1,104,608

CAPITAL AND RESERVES
Called up share capital 13 1,561,118 1,559,118
Retained earnings 14 (571,421 ) (454,510 )
SHAREHOLDERS' FUNDS 989,697 1,104,608

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Digitech Solutions Global Limited (Registered number: 05821246)

Balance Sheet - continued
31 May 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 8 February 2024 and were signed by:





S Fafowora - Director


Digitech Solutions Global Limited (Registered number: 05821246)

Statement of Changes in Equity
for the Year Ended 31 May 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 June 2021 1,559,118 (406,899 ) 1,152,219

Changes in equity
Total comprehensive income - (47,611 ) (47,611 )
Balance at 31 May 2022 1,559,118 (454,510 ) 1,104,608

Changes in equity
Issue of share capital 2,000 - 2,000
Total comprehensive income - (116,911 ) (116,911 )
Balance at 31 May 2023 1,561,118 (571,421 ) 989,697

Digitech Solutions Global Limited (Registered number: 05821246)

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

1. STATUTORY INFORMATION

Digitech Solutions Global 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.

2. ACCOUNTING POLICIES

Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 101 "Reduced Disclosure Framework" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":

the requirements of paragraphs 45(b) and 46 to 52 of IFRS 2 Share-based Payment;
the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m),
B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations;
the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held for Sale and
Discontinued Operations;
the requirements of paragraph 24(6) of IFRS 6 Exploration for and Evaluation of Mineral
Resources;
the requirements of IFRS 7 Financial Instruments: Disclosures;
the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement;
the requirements of paragraph 52, the second sentence of paragraph 89, and
paragraphs 90, 91 and 93 of IFRS 16 Leases;
the requirements of paragraph 58 of IFRS 16;
the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114,
115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with
Customers;
the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to
present comparative information in respect of:
- paragraph 79(a)(iv) of IAS 1;
- paragraph 73(e) of IAS 16 Property, Plant and Equipment;
- paragraph 118(e) of IAS 38 Intangible Assets;
- paragraphs 76 and 79(d) of IAS 40 Investment Property; and
- paragraph 50 of IAS 41 Agriculture;
the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C,
40D, 111 and 134 to 136 of IAS 1;
the requirements of IAS 7 Statement of Cash Flows;
the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in
Accounting Estimates and Errors;
the requirements of paragraph 74(b) of IAS 16;
the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;
the requirements in IAS 24 Related Party Disclosures to disclose related party
transactions entered into between two or more members of a group;
the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36
Impairments of Assets.

Turnover
Represents UK sales in pound sterling

Digitech Solutions Global Limited (Registered number: 05821246)

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

2. ACCOUNTING POLICIES - continued

Goodwill
Represents the value attributed to various brands

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Taxation
Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 May 2023 nor for the year ended 31 May 2022.

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

31.5.23 31.5.22
£    £   
Directors' remuneration - -

4. INTEREST PAYABLE AND SIMILAR EXPENSES
31.5.23 31.5.22
£    £   
Interest payable - 594

5. LOSS BEFORE TAXATION

The loss before taxation is stated after charging:
31.5.23 31.5.22
£    £   
Cost of inventories recognised as expense 37,184 29,523
Depreciation - owned assets 20 15,046

6. TAXATION

Analysis of tax expense
No liability to UK corporation tax arose for the year ended 31 May 2023 nor for the year ended 31 May 2022.

Digitech Solutions Global Limited (Registered number: 05821246)

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

7. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 1,454,775
NET BOOK VALUE
At 31 May 2023 1,454,775
At 31 May 2022 1,454,775

8. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 June 2022 514,662
Additions 230
At 31 May 2023 514,892
DEPRECIATION
At 1 June 2022 514,662
Charge for year 20
At 31 May 2023 514,682
NET BOOK VALUE
At 31 May 2023 210
At 31 May 2022 -

9. DEBTORS
31.5.23 31.5.22
£    £   
Amounts falling due within one year:
Trade debtors 90,721 11,677

Amounts falling due after more than one year:
Trade debtors - 170,833

Aggregate amounts 90,721 182,510

Digitech Solutions Global Limited (Registered number: 05821246)

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

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 23,071 5,788
Social security and other taxes (500 ) (500 )
VAT 1,935 2,355
24,506 7,643

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.23 31.5.22
£    £   
Other loans (see note 12) 532,981 529,139

12. FINANCIAL LIABILITIES - BORROWINGS
31.5.23 31.5.22
£    £   
Non-current:
Other loans - 1-2 years 532,981 529,139

Terms and debt repayment schedule

More than
5 years
£   
Other loans 532,981

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
1,559,118 Ordinary shares 1 1,561,118 1,559,118

14. RESERVES
Retained
earnings
£   

At 1 June 2022 (454,510 )
Deficit for the year (116,911 )
At 31 May 2023 (571,421 )

Digitech Solutions Global Limited (Registered number: 05821246)

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

15. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
S Jessa
Balance outstanding at start of year - 10,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -