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National Digital Ltd

trading as Ormskirk Pets

Registration number : 11581234



















Annual Report and Unaudited Financial Statements

for the year ended 30 April 2023

 

National Digital Ltd

trading as Ormskirk Pets

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

National Digital Ltd

trading as Ormskirk Pets

Company Information

Director

Miss Anna Chantelle Ellis

Company secretary

Miss Anna Chantelle Ellis

Registered office

Unit 1 (Unit B)
4 Cherry Lane
Anfield
Merseyside
L4 6UG

Accountants

McParland Williams Limited
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

 

National Digital Ltd

trading as Ormskirk Pets

(Registration number: 11581234)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

28,413

20,646

Current assets

 

Stocks and work-in-progress

5

246,500

159,572

Debtors

6

237,268

202,753

Cash at bank and in hand

 

343,743

36,664

 

827,511

398,989

Creditors: Amounts falling due within one year

7

(411,106)

(165,377)

Net current assets

 

416,405

233,612

Total assets less current liabilities

 

444,818

254,258

Creditors: Amounts falling due after more than one year

7

(20,417)

(27,417)

Provisions for liabilities

(5,398)

(3,923)

Net assets

 

419,003

222,918

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

419,002

222,917

Total equity

 

419,003

222,918

For the financial year ending 30 April 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 April 2024
 

 

National Digital Ltd

trading as Ormskirk Pets

(Registration number: 11581234)
Balance Sheet as at 30 April 2023

.........................................
Miss Anna Chantelle Ellis
Company secretary and director

   
     
 

National Digital Ltd

trading as Ormskirk Pets

Notes to the Unaudited Financial Statements for the year ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1 (Unit B)
4 Cherry Lane
Anfield
Merseyside
L4 6UG

These financial statements were authorised for issue by the director on 2 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants relating to the Coronavirus Job Retention Scheme are recognised as income in the period in which it becomes receivable under the performance model.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

National Digital Ltd

trading as Ormskirk Pets

Notes to the Unaudited Financial Statements for the year ended 30 April 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing balance

Fixtures and Fittings

25% Reducing balance

Office equipment

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

National Digital Ltd

trading as Ormskirk Pets

Notes to the Unaudited Financial Statements for the year ended 30 April 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

National Digital Ltd

trading as Ormskirk Pets

Notes to the Unaudited Financial Statements for the year ended 30 April 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2022 - 12).

 

National Digital Ltd

trading as Ormskirk Pets

Notes to the Unaudited Financial Statements for the year ended 30 April 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

7,372

20,526

27,898

Additions

3,979

28,655

32,634

Disposals

-

(20,526)

(20,526)

At 30 April 2023

11,351

28,655

40,006

Depreciation

At 1 May 2022

2,120

5,132

7,252

Charge for the year

2,309

7,164

9,473

Eliminated on disposal

-

(5,132)

(5,132)

At 30 April 2023

4,429

7,164

11,593

Carrying amount

At 30 April 2023

6,922

21,491

28,413

At 30 April 2022

5,252

15,394

20,646

5

Stocks and work-in-progress

2023
£

2022
£

Other inventories

246,500

159,572

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

106,902

57,415

Amounts owed by related parties

8

124,612

140,005

Other debtors

 

5,287

5,287

Prepayments

 

467

46

 

237,268

202,753

 

National Digital Ltd

trading as Ormskirk Pets

Notes to the Unaudited Financial Statements for the year ended 30 April 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

7,000

7,000

Trade creditors

 

139,523

15,000

Taxation and social security

 

155,367

137,156

Accruals and deferred income

 

1,500

3,500

Other creditors

 

107,716

2,721

 

411,106

165,377

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

20,417

27,417

8

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,750

13,812

Summary of transactions with other related parties

National Digital Ltd and Manx Pets Ltd have a director in common.
 During the year, loans were made between the two companies.
There was also the provision of services between the two companies.

 All loans are unsecured, interest free and payable on demand.
All trading activies were at an arm's length basis.
 

 

National Digital Ltd

trading as Ormskirk Pets

Notes to the Unaudited Financial Statements for the year ended 30 April 2023

Expenditure with and payables to related parties

2023

Other related parties
£

Leases

24,000

2022

Other related parties
£

Leases

4,000

Amounts payable to related party

2,000

Loans to related parties

2023

Other related parties
£

Total
£

At start of period

140,005

140,005

Advanced

5,020

5,020

Repaid

(20,413)

(20,413)

At end of period

124,612

124,612

2022

Other related parties
£

Total
£

Advanced

140,005

140,005

At end of period

140,005

140,005

Terms of loans to related parties

All loans are unsecured, interest free and payable on demand.

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

20,417

27,417

2023
£

2022
£

Current loans and borrowings

Bank borrowings

7,000

7,000