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Registered Number: 04568486
England and Wales

 

 

 

DIGITAL SYSTEMS UK (SOUTH & WEST WALES) LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of DIGITAL SYSTEMS UK (SOUTH & WEST WALES) LIMITED for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DIGITAL SYSTEMS UK (SOUTH & WEST WALES) LIMITED for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of DIGITAL SYSTEMS UK (SOUTH & WEST WALES) LIMITED , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of DIGITAL SYSTEMS UK (SOUTH & WEST WALES) LIMITED and state those matters that we have agreed to state to the Board of Directors of DIGITAL SYSTEMS UK (SOUTH & WEST WALES) LIMITED , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DIGITAL SYSTEMS UK (SOUTH & WEST WALES) LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that DIGITAL SYSTEMS UK (SOUTH & WEST WALES) LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of DIGITAL SYSTEMS UK (SOUTH & WEST WALES) LIMITED . You consider that DIGITAL SYSTEMS UK (SOUTH & WEST WALES) LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of DIGITAL SYSTEMS UK (SOUTH & WEST WALES) LIMITED . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts



....................................................
Child and Child Accountants Ltd
49 Somerset Street
Abertillery
Gwent
NP13 1DL
09 July 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 4 15,000    30,000 
Tangible fixed assets 5 43,628    15,280 
58,628    45,280 
Current assets      
Stocks 30,258    40,298 
Debtors 206,071    269,170 
Cash at bank and in hand 717,743    526,383 
954,072    835,851 
Creditors: amount falling due within one year (472,398)   (353,055)
Net current assets 481,674    482,796 
 
Total assets less current liabilities 540,302    528,076 
Net assets 540,302    528,076 
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 540,202    527,976 
Shareholders' funds 540,302    528,076 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 09 July 2024 and were signed by:


-------------------------------
Andrew Richard Miles Jones
Director
2
General Information
DIGITAL SYSTEMS UK (SOUTH & WEST WALES) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04568486, registration address 49 Somerset Street, Abertillery, Gwent, NP13 1DL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 3/4 Years Straight Line Basis
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Staff Costs

2023
£
  2022
£
Wages and salaries 223,186    218,953 
Pension costs, defined contribution plan 10,434    9,551 
Other staff costs 1,988    4,373 
235,608    232,877 
 
Average number of employees during the year Number   Number
Sales 10    8 
10   

3.

Average number of employees

Average number of employees during the year was 10 (2022 : 8).
4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2023 235,000    235,000 
Additions  
Disposals  
At 31 December 2023 235,000    235,000 
Amortisation
At 01 January 2023 205,000    205,000 
Charge for year 15,000    15,000 
On disposals  
At 31 December 2023 220,000    220,000 
Net book values
At 31 December 2023 15,000    15,000 
At 31 December 2022 30,000    30,000 


5.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 January 2023 106,167    106,167 
Additions 45,790    45,790 
Disposals  
At 31 December 2023 151,957    151,957 
Depreciation
At 01 January 2023 90,887    90,887 
Charge for year 17,442    17,442 
On disposals  
At 31 December 2023 108,329    108,329 
Net book values
Closing balance as at 31 December 2023 43,628    43,628 
Opening balance as at 01 January 2023 15,280    15,280 


6.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

3