Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity76truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10575569 2023-01-01 2023-12-31 10575569 2022-01-01 2022-12-31 10575569 2023-12-31 10575569 2022-12-31 10575569 c:Director1 2023-01-01 2023-12-31 10575569 c:Director2 2023-01-01 2023-12-31 10575569 c:RegisteredOffice 2023-01-01 2023-12-31 10575569 d:OfficeEquipment 2023-01-01 2023-12-31 10575569 d:OfficeEquipment 2023-12-31 10575569 d:OfficeEquipment 2022-12-31 10575569 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10575569 d:CurrentFinancialInstruments 2023-12-31 10575569 d:CurrentFinancialInstruments 2022-12-31 10575569 d:Non-currentFinancialInstruments 2023-12-31 10575569 d:Non-currentFinancialInstruments 2022-12-31 10575569 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10575569 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10575569 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10575569 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10575569 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 10575569 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 10575569 d:ShareCapital 2023-12-31 10575569 d:ShareCapital 2022-12-31 10575569 d:RetainedEarningsAccumulatedLosses 2023-12-31 10575569 d:RetainedEarningsAccumulatedLosses 2022-12-31 10575569 c:FRS102 2023-01-01 2023-12-31 10575569 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10575569 c:FullAccounts 2023-01-01 2023-12-31 10575569 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10575569 d:WithinOneYear 2023-12-31 10575569 d:WithinOneYear 2022-12-31 10575569 d:BetweenOneFiveYears 2023-12-31 10575569 d:BetweenOneFiveYears 2022-12-31 iso4217:GBP xbrli:pure
Company registration number: 10575569







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


DEVIATE DIGITAL LTD






































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DEVIATE DIGITAL LTD
 


 
COMPANY INFORMATION


Directors
Miss S J Andrews 
Mr P W F Kempe 




Registered number
10575569



Registered office
Lynton House
7-12 Tavistock Square

London

United Kingdom

WC1H 9LT




Accountants
Menzies LLP
Chartered Accountants

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


DEVIATE DIGITAL LTD
REGISTERED NUMBER:10575569



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,316
-

  
5,316
-

Current assets
  

Debtors: amounts falling due within one year
 5 
465,444
164,337

Cash at bank and in hand
  
30,562
46,324

  
496,006
210,661

Creditors: amounts falling due within one year
 6 
(705,822)
(513,369)

Net current liabilities
  
 
 
(209,816)
 
 
(302,708)

Total assets less current liabilities
  
(204,500)
(302,708)

Creditors: amounts falling due after more than one year
 7 
(15,648)
(24,745)

  

Net liabilities
  
(220,148)
(327,453)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(220,248)
(327,553)

  
(220,148)
(327,453)


Page 1

 


DEVIATE DIGITAL LTD
REGISTERED NUMBER:10575569


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Miss S J Andrews
Director

Date: 9 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


DEVIATE DIGITAL LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Deviate Digital Ltd is a private company limited by shares, incorporated in the United Kingdom under Companies Act 2006. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9LT.
The principal place of business of the company is Unit 15, Tileyard Studios, Tileyard Road, London, N7 9AH.

2.Accounting policies

 
2.1

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 following principal accounting policies have been applied:

 
2.2

Going concern

In accordance with FRS 102 Section 1A, the financial statements for Deviate Digital Ltd have been prepared on a going concern basis, which assumes that the entity is viewed as continuing in business for the foreseeable future. 
The directors have assessed the continuing working capital requirements for the business and have obtained confirmation that their creditors will fund the business until which time that it is able to repay its debts. On this basis, together with the improved forecasted performance of the business, the directors have deemed it reasonable to prepare the accounts on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is generated from digital marketing measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 


DEVIATE DIGITAL LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 6).

Page 4

 


DEVIATE DIGITAL LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
12,631


Additions
6,289



At 31 December 2023

18,920



Depreciation


At 1 January 2023
12,631


Charge for the year on owned assets
973



At 31 December 2023

13,604



Net book value



At 31 December 2023
5,316



At 31 December 2022
-


5.


Debtors

2023
2022
£
£


Trade debtors
385,695
121,380

Other debtors
5,479
5,479

Prepayments and accrued income
6,848
37,478

Deferred taxation
67,422
-

465,444
164,337


Page 5

 


DEVIATE DIGITAL LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,119
10,000

Trade creditors
157,886
55,734

Other taxation and social security
84,708
42,287

Other creditors
446,976
381,735

Accruals and deferred income
6,133
23,613

705,822
513,369



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
15,648
24,745

15,648
24,745



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,119
10,000


10,119
10,000


Amounts falling due 2-5 years

Bank loans
15,648
24,745


15,648
24,745


25,767
34,745


Page 6

 


DEVIATE DIGITAL LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
33,000
20,640

Later than 1 year and not later than 5 years
24,750
-

57,750
20,640


10.


Transactions with directors

Included within other debtors is a balance due from a director amounting to £4,135 (2022: £4,135). No interest has been charged on the balance in the year (2022: £nil).


11.


Related party transactions

At the year end, included within creditors due in less than one year were balances totalling £352,041 (2022: £312,354) owing to a company with a shared director and beneficial owner. No interest is charged on this loan.

 
Page 7