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REGISTERED NUMBER: 09979569 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

CIG DIGITAL SYSTEMS LIMITED

CIG DIGITAL SYSTEMS LIMITED (REGISTERED NUMBER: 09979569)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CIG DIGITAL SYSTEMS LIMITED

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: P F O'Brien
R O'Brien
E L O'Brien
C J O'Brien





REGISTERED OFFICE: First Floor
677 High Road
LONDON
N12 0DA





REGISTERED NUMBER: 09979569 (England and Wales)





ACCOUNTANTS: Bramil Associates LLP
First Floor
677 High Road
North Finchley
London
N12 0DA

CIG DIGITAL SYSTEMS LIMITED (REGISTERED NUMBER: 09979569)

BALANCE SHEET
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,028 -
Tangible assets 5 290,000 214,184
296,028 214,184

CURRENT ASSETS
Debtors 6 128,000 58,346
Cash at bank and in hand 218,392 210,519
346,392 268,865
CREDITORS
Amounts falling due within one year 7 79,260 47,901
NET CURRENT ASSETS 267,132 220,964
TOTAL ASSETS LESS CURRENT
LIABILITIES

563,160

435,148

CAPITAL AND RESERVES
Called up share capital 199 199
Revaluation reserve 8 75,816 -
Retained earnings 487,145 434,949
SHAREHOLDERS' FUNDS 563,160 435,148

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 4 October 2024 and were signed on its behalf by:



P F O'Brien - Director


CIG DIGITAL SYSTEMS LIMITED (REGISTERED NUMBER: 09979569)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Cig Digital Systems Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual Property Rights are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

CIG DIGITAL SYSTEMS LIMITED (REGISTERED NUMBER: 09979569)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 7,000
At 29 February 2024 7,000
AMORTISATION
Charge for year 972
At 29 February 2024 972
NET BOOK VALUE
At 29 February 2024 6,028

5. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 March 2023 214,184
Revaluations 75,816
At 29 February 2024 290,000
NET BOOK VALUE
At 29 February 2024 290,000
At 28 February 2023 214,184

Cost or valuation at 29 February 2024 is represented by:

Land and
buildings
£   
Valuation in 2024 75,816
Cost 214,184
290,000

The property has been revalued at 29th February, 2024 by the Directors, based on
professional advice, using an open market value for existing use basis of £290,000 (2023: £214,184).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 120,000 48,000
Other debtors 8,000 10,346
128,000 58,346

CIG DIGITAL SYSTEMS LIMITED (REGISTERED NUMBER: 09979569)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors - 41,461
Taxation and social security 38,710 5,890
Other creditors 40,550 550
79,260 47,901

8. RESERVES
Revaluation
reserve
£   
Property Revaluation 75,816

At 29 February 2024 75,816