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Registration number: 03495490

Digital Installations Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Digital Installations Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Digital Installations Limited

Company Information

Director

Mr M Wilson

Registered office

2 Western Street
Barnsley
South Yorkshire
S70 2BP

Accountants

Cameron Alexander Accountants Limited
Chartered Certified Accountants
2 Western Street
Barnsley
S70 2BP

 

Digital Installations Limited

(Registration number: 03495490)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

48,689

36,534

Current assets

 

Stocks

4

1,000

1,100

Debtors

5

44,684

129,324

Cash at bank and in hand

 

573,528

394,855

 

619,212

525,279

Creditors: Amounts falling due within one year

6

(303,586)

(211,199)

Net current assets

 

315,626

314,080

Total assets less current liabilities

 

364,315

350,614

Creditors: Amounts falling due after more than one year

6

(38,333)

(38,333)

Provisions for liabilities

(7,493)

(6,959)

Net assets

 

318,489

305,322

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

318,389

305,222

Shareholders' funds

 

318,489

305,322

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 August 2024
 

 

Digital Installations Limited

(Registration number: 03495490)
Balance Sheet as at 30 November 2023

.........................................
Mr M Wilson
Director

   
     
 

Digital Installations Limited

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

1

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Digital Installations Limited

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery etc

- 25% reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Digital Installations Limited

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

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2022

11,351

46,511

26,647

84,509

Additions

9,620

-

10,703

20,323

At 30 November 2023

20,971

46,511

37,350

104,832

Depreciation

At 1 December 2022

6,725

29,619

11,631

47,975

Charge for the year

1,248

4,223

2,697

8,168

At 30 November 2023

7,973

33,842

14,328

56,143

Carrying amount

At 30 November 2023

12,998

12,669

23,022

48,689

At 30 November 2022

4,626

16,892

15,016

36,534

 

Digital Installations Limited

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

4

Stocks

2023
£

2022
£

Other inventories

1,000

1,100

5

Debtors

Current

2023
£

2022
£

Trade debtors

34,158

103,432

Prepayments

4,955

19,916

Other debtors

5,571

5,976

 

44,684

129,324

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

10,000

10,000

Trade creditors

 

48,747

19,950

Taxation and social security

 

17,247

30,900

Accruals and deferred income

 

750

750

Other creditors

 

226,842

149,599

 

303,586

211,199

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

38,333

38,333

 

Digital Installations Limited

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

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A of £1 each

50

50

50

50

Ordinary B of £1 each

50

50

50

50

100

100

100

100

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

38,333

38,333

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,000

10,000

9

Related party transactions

Transactions with the director

2023

At 1 December 2022
£

Repayments by director
£

At 30 November 2023
£

Mr M Wilson

No interest is charged on the loan and there is no fixed date of repayment

108,799

79,317

188,116

2022

At 1 December 2021
£

Repayments by director
£

At 30 November 2022
£

Mr M Wilson

No interest is charged on the loan and there is no fixed date of repayment

70,408

38,391

108,799