REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
FACILITATE DIGITAL UK LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
FACILITATE DIGITAL UK LIMITED |
FACILITATE DIGITAL UK LIMITED (REGISTERED NUMBER: 06367767) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
FACILITATE DIGITAL UK LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Herschel House |
58 Herschel Street |
Slough |
Berkshire |
SL1 1PG |
FACILITATE DIGITAL UK LIMITED (REGISTERED NUMBER: 06367767) |
BALANCE SHEET |
30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
FACILITATE DIGITAL UK LIMITED (REGISTERED NUMBER: 06367767) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Facilitate Digital UK Limited is a |
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. |
Going concern |
The accounts have been prepared on an alternative basis in light of the fact that the directors intend to close down the company. The directors consider it unlikely the company will continue beyond 12 months and 1 day from the signing of the audit report and therefore the going concern basis is not appropriate. The accounts have therefore been produced on an alternate basis. This did not result in a change to any of the balances within the financial statements compared to if the going concern basis had been adopted. |
Preparation of consolidated financial statements |
The financial statements contain information about Facilitate Digital UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year end and that are expected to apply to the reversal of the timing difference. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
FACILITATE DIGITAL UK LIMITED (REGISTERED NUMBER: 06367767) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS102. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2022 |
and 30 June 2023 |
PROVISIONS |
At 1 July 2022 |
and 30 June 2023 | 26,286 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Amounts owed to group undertakings |
Other creditors & accruals |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.23 | 30.6.22 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
FACILITATE DIGITAL UK LIMITED (REGISTERED NUMBER: 06367767) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 - continued |
We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:- |
"Emphasis of matter |
We draw attention to Note 2 to the financial statements which explains the directors intend to liquidate the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter." |
We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:- |
"Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed." |
9. | ULTIMATE PARENT COMPANY |
The ultimate parent company is Adslot Ltd, a company incorporated in Australia, with its registered office at 419 Collins Street, Melbourne, Victoria 3000, Australia. Adslot Ltd is the largest and only group company to prepare consolidated financial statements. The accounts are publicly available via the Australian stock exchange, ASX. |