|
|
09817058
31 December 2022
|
DIGITEKA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Digiteka Limited is a private company limited by shares incorporated in England and Wales. The company's registered number is 09817058. The address of its registered office is Soho Works 2 Television Centre, 101 Wood Lane, London, United Kingdom, W12 7FR.
The principal activity of the company during the year was that of an advertising agency.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the company operates and is rounded to the nearest pound.
The following principal accounting policies have been applied:
The directors have made the decision to cease operations in 2023 with a view to closing the company in 2024. In light of this, the directors do not consider the going concern basis to be appropriate and these financial statements have therefore been prepared on a basis other than going concern.
Intercompany turnover represents administrative management fees as well as amounts payable for the use of the company’s streaming services. These transactions are conducted under normal market conditions.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of turnover can be measured reliably;
∙it is probable that the company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
- 2 -
|