IRIS Accounts Production v24.2.0.383 SC772813 director 15.6.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC7728132023-06-14SC7728132024-06-30SC7728132023-06-152024-06-30SC7728132023-06-14SC772813ns15:Scotland2023-06-152024-06-30SC772813ns14:PoundSterling2023-06-152024-06-30SC772813ns10:Director12023-06-152024-06-30SC772813ns10:PrivateLimitedCompanyLtd2023-06-152024-06-30SC772813ns10:SmallEntities2023-06-152024-06-30SC772813ns10:AuditExempt-NoAccountantsReport2023-06-152024-06-30SC772813ns10:SmallCompaniesRegimeForDirectorsReport2023-06-152024-06-30SC772813ns10:SmallCompaniesRegimeForAccounts2023-06-152024-06-30SC772813ns10:FullAccounts2023-06-152024-06-30SC772813ns10:RegisteredOffice2023-06-152024-06-30SC772813ns5:CurrentFinancialInstruments2024-06-30SC772813ns5:ShareCapital2024-06-30SC772813ns5:RetainedEarningsAccumulatedLosses2024-06-30SC772813ns5:ComputerEquipment2023-06-152024-06-30SC772813ns5:ComputerEquipment2024-06-30SC772813ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-30SC772813ns5:DeferredTaxation2023-06-152024-06-30SC772813ns5:DeferredTaxation2024-06-30
REGISTERED NUMBER: SC772813 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

15 JUNE 2023 TO 30 JUNE 2024

FOR

DIGITAL CONCEPTS LTD

DIGITAL CONCEPTS LTD (REGISTERED NUMBER: SC772813)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 15 June 2023 to 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIGITAL CONCEPTS LTD

COMPANY INFORMATION
for the period 15 June 2023 to 30 June 2024







DIRECTOR: Mr R Smith





REGISTERED OFFICE: 16 Cherryton Drive
Clackmannan
Clackmannanshire
FK10 4RA





REGISTERED NUMBER: SC772813 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

DIGITAL CONCEPTS LTD (REGISTERED NUMBER: SC772813)

BALANCE SHEET
30 June 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 3,753

CURRENT ASSETS
Debtors 5 5,876
Cash at bank 77,460
83,336
CREDITORS
Amounts falling due within one year 6 70,404
NET CURRENT ASSETS 12,932
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,685

PROVISIONS FOR LIABILITIES 7 807
NET ASSETS 15,878

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 15,778
15,878

DIGITAL CONCEPTS LTD (REGISTERED NUMBER: SC772813)

BALANCE SHEET - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 August 2024 and were signed by:





Mr R Smith - Director


DIGITAL CONCEPTS LTD (REGISTERED NUMBER: SC772813)

NOTES TO THE FINANCIAL STATEMENTS
for the period 15 June 2023 to 30 June 2024

1. STATUTORY INFORMATION

Digital Concepts Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable in relation to the operation of digital product design and consultancy services.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% per annum on cost

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

DIGITAL CONCEPTS LTD (REGISTERED NUMBER: SC772813)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 15 June 2023 to 30 June 2024

2. ACCOUNTING POLICIES - continued

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 non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

DIGITAL CONCEPTS LTD (REGISTERED NUMBER: SC772813)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 15 June 2023 to 30 June 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 4,173
At 30 June 2024 4,173
DEPRECIATION
Charge for period 420
At 30 June 2024 420
NET BOOK VALUE
At 30 June 2024 3,753

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 5,875
Other debtors 1
5,876

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 233
Tax 18,484
Directors' loan accounts 49,257
Accrued expenses 2,430
70,404

7. PROVISIONS FOR LIABILITIES
£   
Deferred tax 807

Deferred
tax
£   
Charge to Statement of Income and Retained Earnings during period 807
Balance at 30 June 2024 807

8. RELATED PARTY DISCLOSURES

Included within "Other creditors" is a balance of £49,257 due to the director. The balance is interest free with no fixed repayment terms.