2023-02-012024-01-312024-01-31falseNI622163DIGITAL ISLE 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DIGITAL ISLE LIMITED

Registered Number
NI622163
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 January 2024

DIGITAL ISLE LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

Mr. Tomas Levinas
Mr Robertas Sergejevas

Company Secretary

Mr. Tomas Levinas

Registered Address

Unit 15 39 Newtown Road,Cowan's Yard
Camlough
Newry
BT35 7JJ

Registered Number

NI622163 (Northern Ireland)
DIGITAL ISLE LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets326,07031,764
26,07031,764
Current assets
Stocks4723,735707,825
Debtors540,54823,255
Cash at bank and on hand2,959139,331
767,242870,411
Creditors amounts falling due within one year6(127,948)(268,776)
Net current assets (liabilities)639,294601,635
Total assets less current liabilities665,364633,399
Creditors amounts falling due after one year7(242,041)(241,109)
Net assets423,323392,290
Capital and reserves
Called up share capital100100
Profit and loss account423,223392,190
Shareholders' funds423,323392,290
The financial statements were approved and authorised for issue by the Board of Directors on 11 July 2024, and are signed on its behalf by:
Mr Robertas Sergejevas
Director
Mr. Tomas Levinas
Director

Registered Company No. NI622163
DIGITAL ISLE LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery20-
Fixtures and fittings-5
Office Equipment203
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year99
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 February 2332,8902,48951,51786,896
Additions--833833
At 31 January 2432,8902,48952,35087,729
Depreciation and impairment
At 01 February 2321,39029033,45255,132
Charge for year2,3004983,7296,527
At 31 January 2423,69078837,18161,659
Net book value
At 31 January 249,2001,70115,16926,070
At 31 January 2311,5002,19918,06531,764
4.Stocks

2024

2023

££
Finished goods723,735707,825
Total723,735707,825
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables24,64164
Other debtors6,10820,927
Prepayments and accrued income9,7992,264
Total40,54823,255
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables47,01895,918
Bank borrowings and overdrafts27,55321,356
Taxation and social security24,28457,061
Other creditors29,09393,524
Accrued liabilities and deferred income-917
Total127,948268,776
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts242,041241,109
Total242,041241,109