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REGISTERED NUMBER: 08066763 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

IDIG LTD

IDIG LTD (REGISTERED NUMBER: 08066763)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

IDIG LTD

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTOR: C M Hayes





REGISTERED OFFICE: 18 Dale Lee
Westhoughton
Bolton
Lancashire
BL5 3YE





REGISTERED NUMBER: 08066763 (England and Wales)





ACCOUNTANTS: Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House Euxton Lane
Euxton
Chorley
Lancashire
PR7 6TB

IDIG LTD (REGISTERED NUMBER: 08066763)

BALANCE SHEET
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 7,149 9,534
7,149 9,534

CURRENT ASSETS
Debtors 7 8,180 48,328
Cash at bank 172,245 164,765
180,425 213,093
CREDITORS
Amounts falling due within one year 8 56,829 87,778
NET CURRENT ASSETS 123,596 125,315
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,745

134,849

CREDITORS
Amounts falling due after more than one
year

9

(18,098

)

(74,379

)

PROVISIONS FOR LIABILITIES (1,358 ) (1,811 )
NET ASSETS 111,289 58,659

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 111,288 58,658
SHAREHOLDERS' FUNDS 111,289 58,659

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.

IDIG LTD (REGISTERED NUMBER: 08066763)

BALANCE SHEET - continued
31 May 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 director and authorised for issue on 12 February 2024 and were signed by:





C M Hayes - Director


IDIG LTD (REGISTERED NUMBER: 08066763)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023


1. STATUTORY INFORMATION

iDig 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.

2. STATEMENT OF COMPLIANCE

The accounts have been prepared in accordance with the provisions of FRS102 Section 1A small entities. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The principle accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year/period and have also been consistently applied within the same accounts.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Revenue recognition
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2012, it has been evenly amortised over its estimated useful life of two years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


IDIG LTD (REGISTERED NUMBER: 08066763)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023


3. 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 balance sheet date.

Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 30,000
AMORTISATION
At 1 June 2022
and 31 May 2023 30,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

IDIG LTD (REGISTERED NUMBER: 08066763)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023


6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 62,125
DEPRECIATION
At 1 June 2022 52,591
Charge for year 2,385
At 31 May 2023 54,976
NET BOOK VALUE
At 31 May 2023 7,149
At 31 May 2022 9,534

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 2,892 42,892
Other debtors 5,288 5,436
8,180 48,328

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 864 30,076
Taxation and social security 18,205 19,892
Other creditors 37,760 37,810
56,829 87,778

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Other creditors 18,098 74,379

10. ULTIMATE CONTROLLING PARTY

The controlling party is C M Hayes.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
IDIG LTD


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of iDig Ltd for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of iDig Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of iDig Ltd and state those matters that we have agreed to state to the director of iDig Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than iDig Ltd and its director for our work or for this report.

It is your duty to ensure that iDig Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of iDig Ltd. You consider that iDig Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of iDig Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House Euxton Lane
Euxton
Chorley
Lancashire
PR7 6TB


12 February 2024