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REGISTERED NUMBER: 07105411 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Digital Accessories Limited

Digital Accessories Limited (Registered number: 07105411)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Digital Accessories Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D Hirst
S Mosley





REGISTERED OFFICE: Two Gates
Moor Lane
Elton
Matlock
Derbyshire
DE4 2DA





REGISTERED NUMBER: 07105411 (England and Wales)





ACCOUNTANTS: HUB3 LIMITED
Market Place
Crich
Matlock
Derbyshire
DE45DD

Digital Accessories Limited (Registered number: 07105411)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 243,279 251,089

CURRENT ASSETS
Stocks 157,662 221,959
Debtors 5 76,067 71,784
Cash at bank and in hand 50,050 39,657
283,779 333,400
CREDITORS
Amounts falling due within one year 6 39,756 57,555
NET CURRENT ASSETS 244,023 275,845
TOTAL ASSETS LESS CURRENT
LIABILITIES

487,302

526,934

CREDITORS
Amounts falling due after more than
one year

7

(181,572

)

(189,777

)

PROVISIONS FOR LIABILITIES (6,317 ) (4,765 )
NET ASSETS 299,413 332,392

CAPITAL AND RESERVES
Called up share capital 4,000 4,000
Retained earnings 295,413 328,392
299,413 332,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Digital Accessories Limited (Registered number: 07105411)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:




D Hirst - Director



S Mosley - Director


Digital Accessories Limited (Registered number: 07105411)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Digital Accessories Limited is a private company, limited by shares , registered in England and Wales. 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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets

Basic financial assets, including trade and other receivables and cash and bank
balances, and are initially recognised at transaction price.
All cash in hand and bank balances relate to highly liquid deposits with a maturity under three months and carry no interest..

Financial liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.


Digital Accessories Limited (Registered number: 07105411)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 234,277 39,876 274,153
DEPRECIATION
At 1 April 2023 7,054 16,010 23,064
Charge for year 2,343 5,467 7,810
At 31 March 2024 9,397 21,477 30,874
NET BOOK VALUE
At 31 March 2024 224,880 18,399 243,279
At 31 March 2023 227,223 23,866 251,089

Digital Accessories Limited (Registered number: 07105411)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 76,067 71,784

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 7,855 7,566
Foreign VAT 3 (2,281 )
Taxation and social security 23,975 33,135
Other creditors 7,923 19,135
39,756 57,555

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 181,572 189,777

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 157,044 158,035

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
D Hirst
Balance outstanding at start of year 10,976 30,664
Amounts advanced 936 312
Amounts repaid (11,000 ) (20,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 912 10,976

Digital Accessories Limited (Registered number: 07105411)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

S Mosley
Balance outstanding at start of year 156 1,499
Amounts advanced 312 312
Amounts repaid - (1,655 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 468 156