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REGISTERED NUMBER: 10456221 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Africadigital Group Ltd

Africadigital Group Ltd (Registered number: 10456221)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Africadigital Group Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: J P C Kabanda





SECRETARY: O Kabanda





REGISTERED OFFICE: 1 Gillian Park Road
Sutton
Surrey
SM3 9JT





REGISTERED NUMBER: 10456221 (England and Wales)

Africadigital Group Ltd (Registered number: 10456221)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Cash at bank 53 21

CREDITORS
Amounts falling due within one year 4 1,169 1,137
NET CURRENT LIABILITIES (1,116 ) (1,116 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,116

)

(1,116

)

CAPITAL AND RESERVES
Called up share capital 5 1,000 1,000
Retained earnings 6 (2,116 ) (2,116 )
SHAREHOLDERS' FUNDS (1,116 ) (1,116 )

The company is entitled to exemption from audit under Section 480 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2024 and were signed by:





J P C Kabanda - Director


Africadigital Group Ltd (Registered number: 10456221)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

Africadigital Group Ltd 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.

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.

The company was dormant throughout the current year and previous year.

Going concern
The accounts have been prepared on a going concern basis, assuming continuing support from its parent company.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalent
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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 payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial instruments
The Company only enters into basic financial instruments 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.

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 profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Africadigital Group Ltd (Registered number: 10456221)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 710 710
Directors' current accounts 459 427
1,169 1,137

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

6. RESERVES
Retained
earnings
£   

At 1 December 2022 (2,116 )
Profit for the year -
At 30 November 2023 (2,116 )

7. RELATED PARTY DISCLOSURES

Amount owed to group undertakings represent the amount owed to Gasabo Ltd, the parent company.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J P C Kabanda and O Kabanda.

9. PARENT COMPANY

Gasabo Ltd, a company registered in England and Wales with registration number 10346694 is the parent company.