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COMPANY REGISTRATION NUMBER: 03630836
Indigo Data Communications Limited
Filleted Unaudited Financial Statements
30 September 2023
Indigo Data Communications Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
39,210
54,530
Current assets
Stocks
19,044
9,318
Debtors
6
247,697
340,537
Cash at bank and in hand
348,422
120,801
---------
---------
615,163
470,656
Creditors: amounts falling due within one year
7
277,964
158,076
---------
---------
Net current assets
337,199
312,580
---------
---------
Total assets less current liabilities
376,409
367,110
Creditors: amounts falling due after more than one year
8
25,818
35,833
Provisions
Taxation including deferred tax
7,450
10,361
---------
---------
Net assets
343,141
320,916
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
343,041
320,816
---------
---------
Shareholder funds
343,141
320,916
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Indigo Data Communications Limited
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 27 February 2024 , and are signed on behalf of the board by:
Mr D W North
Director
Company registration number: 03630836
Indigo Data Communications Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 8 Salome Works, Prospect Place, Trowbridge, Wiltshire, BA14 8QA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
Straight line over 5 years
Motor Vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 6 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 October 2022
52,790
88,638
141,428
Additions
3,867
3,867
Disposals
( 17,915)
( 17,915)
--------
--------
---------
At 30 September 2023
38,742
88,638
127,380
--------
--------
---------
Depreciation
At 1 October 2022
44,012
42,886
86,898
Charge for the year
7,749
11,438
19,187
Disposals
( 17,915)
( 17,915)
--------
--------
---------
At 30 September 2023
33,846
54,324
88,170
--------
--------
---------
Carrying amount
At 30 September 2023
4,896
34,314
39,210
--------
--------
---------
At 30 September 2022
8,778
45,752
54,530
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
233,545
328,735
Other debtors
14,152
11,802
---------
---------
247,697
340,537
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
37,783
57,351
Corporation tax
13,124
21,723
Social security and other taxes
61,948
27,758
Other creditors
155,109
41,244
---------
---------
277,964
158,076
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
25,818
35,833
--------
--------