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Registered number: 03584463














DIGITAL ATELIER LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

 
DIGITAL ATELIER LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
DIGITAL ATELIER LIMITED
REGISTERED NUMBER:03584463

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,925
5,051

Current assets
  

Debtors: amounts falling due within one year
 5 
1,290
-

Cash at bank and in hand
  
2,688
2,090

  
3,978
2,090

  

Creditors: amounts falling due within one year
 6 
(17,336)
(10,539)

Net current liabilities
  
 
 
(13,358)
 
 
(8,449)

Total assets less current liabilities
  
(9,433)
(3,398)

Creditors: amounts falling due after more than one year
 7 
(57,500)
(66,291)

  

Net liabilities
  
(66,933)
(69,689)


Capital and reserves
  

Called up share capital 
 8 
200
200

Profit and loss account
  
(67,133)
(69,889)

  
(66,933)
(69,689)


Page 1

 
DIGITAL ATELIER LIMITED
REGISTERED NUMBER:03584463
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2023

The director considers 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 director acknowledges his 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 comprehensive income 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 on 19 August 2024.




F Thuard
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
DIGITAL ATELIER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Digital Atelier Limited is a limited liability company which is incorporated in England and Wales with its registered office at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the company was that of consultancy in production distribution in Media, Production, Film, Television and Radio, and the development of mobile gaming applications.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director has provided an interest free loan to the company for an indefinite period and will provide
additional loans if required to enable it to continue trading for the foreseeable future as he considers
that the company has the potential to make considerable profits in the future. As a result the financial
statements have been prepared on the going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
DIGITAL ATELIER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied
during the period, exclusive of Value Added Tax and trade discounts.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.6

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25% reducing balance
Fixtures & fittings
-
25% reducing balance

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

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

Page 4

 
DIGITAL ATELIER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.10

Creditors

Short term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Plant & machinery
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 December 2022
22,080
20,768
42,848


Additions
181
-
181



At 30 November 2023

22,261
20,768
43,029



Depreciation


At 1 December 2022
18,659
19,137
37,796


Charge for the year on owned assets
900
408
1,308



At 30 November 2023

19,559
19,545
39,104



Net book value



At 30 November 2023
2,702
1,223
3,925



At 30 November 2022
3,421
1,630
5,051

Page 5

 
DIGITAL ATELIER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
1,290
-



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
25
-

Bank loans
2,611
-

Taxation
4,380
3,219

Accruals and deferred income
10,320
7,320

17,336
10,539



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
9,920
12,531

Director's loan
47,580
53,760

57,500
66,291


The director's loan is interest free and no date of repayment has been fixed.


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



200 Ordinary shares of £1.00 each
200
200


 
Page 6