Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-312024-05-29falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.212022-09-01falseNo description of principal activity23true 07767134 2022-09-01 2023-08-31 07767134 2021-09-01 2022-08-31 07767134 2023-08-31 07767134 2022-08-31 07767134 c:Director1 2022-09-01 2023-08-31 07767134 d:PlantMachinery 2022-09-01 2023-08-31 07767134 d:PlantMachinery 2023-08-31 07767134 d:PlantMachinery 2022-08-31 07767134 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07767134 d:MotorVehicles 2022-09-01 2023-08-31 07767134 d:MotorVehicles 2023-08-31 07767134 d:MotorVehicles 2022-08-31 07767134 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07767134 d:OfficeEquipment 2022-09-01 2023-08-31 07767134 d:OfficeEquipment 2023-08-31 07767134 d:OfficeEquipment 2022-08-31 07767134 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07767134 d:ComputerEquipment 2022-09-01 2023-08-31 07767134 d:ComputerEquipment 2023-08-31 07767134 d:ComputerEquipment 2022-08-31 07767134 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07767134 d:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 07767134 d:OtherPropertyPlantEquipment 2023-08-31 07767134 d:OtherPropertyPlantEquipment 2022-08-31 07767134 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07767134 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07767134 d:CurrentFinancialInstruments 2023-08-31 07767134 d:CurrentFinancialInstruments 2022-08-31 07767134 d:Non-currentFinancialInstruments 2023-08-31 07767134 d:Non-currentFinancialInstruments 2022-08-31 07767134 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 07767134 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 07767134 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 07767134 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 07767134 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 07767134 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-08-31 07767134 d:ShareCapital 2023-08-31 07767134 d:ShareCapital 2022-08-31 07767134 d:RetainedEarningsAccumulatedLosses 2023-08-31 07767134 d:RetainedEarningsAccumulatedLosses 2022-08-31 07767134 c:FRS102 2022-09-01 2023-08-31 07767134 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 07767134 c:FullAccounts 2022-09-01 2023-08-31 07767134 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 07767134 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 07767134 d:HirePurchaseContracts d:WithinOneYear 2022-08-31 07767134 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 07767134 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-08-31 iso4217:GBP xbrli:pure
Company registration number: 07767134







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2023


DIGITAL MEDIA TECHNOLOGIES LTD






































img2b0e.png                        

 


DIGITAL MEDIA TECHNOLOGIES LTD
REGISTERED NUMBER:07767134



STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
  
433,741
393,011

  
433,741
393,011

Current assets
  

Stocks
  
4,500
4,500

Debtors: amounts falling due within one year
 5 
733,717
1,218,078

Cash At Bank And In Hand
  
476,668
238,836

  
1,214,885
1,461,414

Creditors: Amounts Falling Due Within One Year
 6 
(483,659)
(676,698)

Net current assets
  
 
 
731,226
 
 
784,716

Total assets less current liabilities
  
1,164,967
1,177,727

Creditors: amounts falling due after more than one year
 7 
(119,290)
(94,546)

Provisions for liabilities
  

Other provisions
  
(80,247)
(72,508)

  
 
 
(80,247)
 
 
(72,508)

Net assets
  
965,430
1,010,673


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
965,330
1,010,573

  
965,430
1,010,673


Page 1

 


DIGITAL MEDIA TECHNOLOGIES LTD
REGISTERED NUMBER:07767134


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider 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 directors acknowledge their 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 income and retained earnings 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 by: 




................................................
J R Game
Director

Date: 29 May 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


DIGITAL MEDIA TECHNOLOGIES LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

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

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


DIGITAL MEDIA TECHNOLOGIES LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

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 and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance
Computer equipment
-
25%
reducing balance
Leasehold improvements
-
20%
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.

Page 4

 


DIGITAL MEDIA TECHNOLOGIES LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 23 (2022 - 21).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Computer equipment
Other fixed assets

£
£
£
£
£



Cost or valuation


At 1 September 2022
63,657
54,424
43,873
306,283
112,282


Additions
-
106,011
5,793
45,960
-



At 31 August 2023

63,657
160,435
49,666
352,243
112,282



Depreciation


At 1 September 2022
54,214
14,350
9,571
88,402
20,971


Charge for the year on owned assets
2,361
21,145
9,514
61,558
22,456



At 31 August 2023

56,575
35,495
19,085
149,960
43,427



Net book value



At 31 August 2023
7,082
124,940
30,581
202,283
68,855



At 31 August 2022
9,443
40,074
34,302
217,881
91,311
Page 5

 


DIGITAL MEDIA TECHNOLOGIES LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 September 2022
580,519


Additions
157,764



At 31 August 2023

738,283



Depreciation


At 1 September 2022
187,508


Charge for the year on owned assets
117,034



At 31 August 2023

304,542



Net book value



At 31 August 2023
433,741



At 31 August 2022
393,011


5.


Debtors

2023
2022
£
£


Trade debtors
431,496
1,012,293

Amounts owed by connected company
197,264
-

Other debtors
19,007
24,007

Prepayments and accrued income
49,037
75,356

Tax recoverable
36,913
106,422

733,717
1,218,078


Page 6

 


DIGITAL MEDIA TECHNOLOGIES LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
127,107
394,073

Amounts owed to connected company
-
33,332

Other taxation and social security
152,324
76,200

Obligations under finance lease and hire purchase contracts
54,585
50,907

Other creditors
6,762
3,425

Accruals and deferred income
132,881
108,761

483,659
676,698



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
20,000
30,000

Net obligations under finance leases and hire purchase contracts
99,290
64,546

119,290
94,546



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
20,000
30,000


20,000
30,000



30,000
40,000


Page 7

 


DIGITAL MEDIA TECHNOLOGIES LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
54,585
50,907

Between 1-5 years
99,290
64,546

153,875
115,453


10.


Related party transactions

‘Included in debtors is an amount of £197,264 due from a connected company.  No interest is being charged on this loan.

 
Page 8