Silverfin false false 29/02/2024 01/03/2023 29/02/2024 J B Jeffries 03/09/2018 W Jeffries 11/12/2012 J W Webster 21/06/2019 William Jeffries James William Webster 17 June 2024 The principal activity of the Company during the financial year was web and software development in regards to producing online digital engagement tools. 08327127 2024-02-29 08327127 bus:Director1 2024-02-29 08327127 bus:Director2 2024-02-29 08327127 bus:Director3 2024-02-29 08327127 2023-02-28 08327127 core:CurrentFinancialInstruments 2024-02-29 08327127 core:CurrentFinancialInstruments 2023-02-28 08327127 core:Non-currentFinancialInstruments 2024-02-29 08327127 core:Non-currentFinancialInstruments 2023-02-28 08327127 core:ShareCapital 2024-02-29 08327127 core:ShareCapital 2023-02-28 08327127 core:RetainedEarningsAccumulatedLosses 2024-02-29 08327127 core:RetainedEarningsAccumulatedLosses 2023-02-28 08327127 core:Vehicles 2023-02-28 08327127 core:FurnitureFittings 2023-02-28 08327127 core:OfficeEquipment 2023-02-28 08327127 core:Vehicles 2024-02-29 08327127 core:FurnitureFittings 2024-02-29 08327127 core:OfficeEquipment 2024-02-29 08327127 core:CurrentFinancialInstruments core:Secured 2024-02-29 08327127 2023-03-01 2024-02-29 08327127 bus:FilletedAccounts 2023-03-01 2024-02-29 08327127 bus:SmallEntities 2023-03-01 2024-02-29 08327127 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 08327127 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08327127 bus:Director1 2023-03-01 2024-02-29 08327127 bus:Director2 2023-03-01 2024-02-29 08327127 bus:Director3 2023-03-01 2024-02-29 08327127 bus:Director4 2023-03-01 2024-02-29 08327127 bus:Director5 2023-03-01 2024-02-29 08327127 core:Vehicles 2023-03-01 2024-02-29 08327127 core:FurnitureFittings core:TopRangeValue 2023-03-01 2024-02-29 08327127 core:OfficeEquipment core:TopRangeValue 2023-03-01 2024-02-29 08327127 2022-03-01 2023-02-28 08327127 core:FurnitureFittings 2023-03-01 2024-02-29 08327127 core:OfficeEquipment 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Company No: 08327127 (England and Wales)

AUTHENTIC DIGITAL LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

AUTHENTIC DIGITAL LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

AUTHENTIC DIGITAL LIMITED

BALANCE SHEET

As at 29 February 2024
AUTHENTIC DIGITAL LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 19,084 26,008
19,084 26,008
Current assets
Stocks 4 0 3,500
Debtors 5 212,673 211,618
Cash at bank and in hand 34,223 17,572
246,896 232,690
Creditors: amounts falling due within one year 6 ( 175,755) ( 148,567)
Net current assets 71,141 84,123
Total assets less current liabilities 90,225 110,131
Creditors: amounts falling due after more than one year 7 ( 55,088) ( 92,509)
Provision for liabilities ( 4,389) ( 4,941)
Net assets 30,748 12,681
Capital and reserves
Called-up share capital 6 6
Profit and loss account 30,742 12,675
Total shareholders' funds 30,748 12,681

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Authentic Digital Limited (registered number: 08327127) were approved and authorised for issue by the Board of Directors on 17 June 2024. They were signed on its behalf by:

J B Jeffries
Director
William Jeffries
Director
James William Webster
Director
AUTHENTIC DIGITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
AUTHENTIC DIGITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Authentic Digital Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Filers Way, Weston Gateway Business Park, Weston-Super-Mare, BS24 7JP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 5 years straight line
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 5

3. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 March 2023 67,474 3,188 10,023 80,685
At 29 February 2024 67,474 3,188 10,023 80,685
Accumulated depreciation
At 01 March 2023 42,268 3,188 9,221 54,677
Charge for the financial year 6,301 0 623 6,924
At 29 February 2024 48,569 3,188 9,844 61,601
Net book value
At 29 February 2024 18,905 0 179 19,084
At 28 February 2023 25,206 0 802 26,008

4. Stocks

2024 2023
£ £
Work in progress 0 3,500

5. Debtors

2024 2023
£ £
Trade debtors 17,574 15,622
Amounts owed by directors 131,472 147,302
Other debtors 63,627 48,694
212,673 211,618

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts (secured) 34,486 33,568
Trade creditors 7,228 7,472
Accruals and deferred income 68,109 67,380
Taxation and social security 47,376 35,102
Obligations under finance leases and hire purchase contracts (secured) 18,351 5,222
Other creditors 205 ( 177)
175,755 148,567

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 27,885 39,605
Obligations under finance leases and hire purchase contracts 0 18,351
Other creditors 27,203 34,553
55,088 92,509

8. Related party transactions

The Directors loan accounts are repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

W Jeffries
At 1 March 2023 the balance owed by Mr W Jeffries was £55,665. During the year £35,405 was advanced and £42,986 was repaid. The balance owed by Mr W Jeffries at 29 February 2024 was £48,084.
At 1 March 2022 the balance owed by Mr W Jeffries was £41,605. During the year, £30,177 was advanced and £16,117 was repaid. The balance owed by Mr W Jeffries as at 28 February 2023 was £55,665.

J Jeffries.
At 1 March 2023 the balance owed by Mr J Jeffries was £62,763. During the year £40,475 was advanced and £42,018 was repaid. The balance owed by Mr J Jeffries at 29 February 2024 was £61,220.
At 1 March 2022 the balance owed by Mr J Jeffries was £56,712. During the year, £31,363 was advanced and £25,312 was repaid. The balance owed by Mr J Jeffries as at 28 February 2023 was £62,763.

J Webster
At 1 March 2023 the balance owed by Mr J Webster was £28,874. During the year £36,174 was advanced and £42,880 was repaid. The balance owed by Mr J Webster at 29 February 2024 was £22,168.
At 1 March 2022 the balance owed by Mr J Webster was £27,419. During the year, £28,663 was advanced and £27,208 was repaid. The balance owed by Mr J W Webster as at 28 February 2023 was £28,874.