1 Digitals Europe Limited
Statement of financial position
as at 31 July 2023
Tangible assets
4,925
2,849
Cash at bank and in hand
225,870
164,577
Creditors: amounts falling due within one year
(184,475)
(100,245)
Net current assets
298,024
208,132
Net assets
302,949
210,981
Called up share capital
100
100
Profit and loss account
302,849
210,881
Shareholders' funds
302,949
210,981
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2024 and were signed on its behalf by
Yoga Naga Venkata Satish PINISETTI
Director
Company Registration No. 10297543
1 Digitals Europe Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Digitals Europe Limited is a private company, limited by shares, registered in England and Wales, registration number 10297543. The registered office is 268 Regus Center, Bath Road, SLOUGH, SL1 4DX, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 July 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2022
-
6,576
6,576
Additions
1,513
2,204
3,717
At 31 July 2023
1,513
8,780
10,293
At 1 August 2022
-
3,727
3,727
Charge for the year
378
1,263
1,641
At 31 July 2023
378
4,990
5,368
At 31 July 2023
1,135
3,790
4,925
At 31 July 2022
-
2,849
2,849
1 Digitals Europe Limited
Notes to the Accounts
for the year ended 31 July 2023
Amounts falling due within one year
Trade debtors
249,429
143,800
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
26,453
37,297
Taxes and social security
26,997
33,478
Loans from directors
(9,415)
(3,269)
No security for the balance of the Bounce Back Loan of £26,453.
Director's loan at the end of F Y of £9,414 repaid within 9 months of close of this F Y.
8
Average number of employees
During the year the average number of employees was 5 (2022: 4).