1 March 2023 v2024.51.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP106046652023-03-012024-02-29106046652024-02-29106046652023-02-2810604665core:WithinOneYear2024-02-2910604665core:WithinOneYear2023-02-2810604665core:AfterOneYear2024-02-2910604665core:AfterOneYear2023-02-2810604665core:ShareCapital2024-02-2910604665core:ShareCapital2023-02-2810604665core:RetainedEarningsAccumulatedLosses2024-02-2910604665core:RetainedEarningsAccumulatedLosses2023-02-2810604665bus:Director12023-03-012024-02-2910604665bus:RegisteredOffice2023-03-012024-02-2910604665core:LandBuildings2023-03-012024-02-2910604665core:PlantMachinery2023-03-012024-02-2910604665core:OfficeEquipment2023-03-012024-02-2910604665core:FurnitureFittings2023-03-012024-02-2910604665core:MotorVehicles2023-03-012024-02-29106046652022-03-012023-02-28106046652023-03-011060466512023-03-012024-02-2910604665countries:EnglandWales2023-03-012024-02-2910604665bus:AuditExemptWithAccountantsReport2023-03-012024-02-2910604665bus:PrivateLimitedCompanyLtd2023-03-012024-02-2910604665bus:SmallEntities2023-03-012024-02-2910604665bus:AbridgedAccounts2023-03-012024-02-29
Company registration number:
10604665
Alphadigital Limited
Unaudited Filleted Abridged Financial Statements for the year ended
29 February 2024
SKA Accountants
Suite C, 15 Buckwins Square, Burnt Mills Industrial Estate, Basildon, Essex, SS13 1BJ, United Kingdom
Alphadigital Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Alphadigital Limited
Year ended
29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
abridged financial statements
of
Alphadigital Limited
for the year ended
29 February 2024
which comprise the abridged income statement, statement of income and retained earnings, abridged statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
Alphadigital Limited
, as a body, in accordance with the terms of my engagement letter dated 12 October 2017. My work has been undertaken solely to prepare for your approval the
abridged financial statements
of
Alphadigital Limited
and state those matters that I have agreed to state to the Board of Directors of
Alphadigital Limited
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​tf-163-jan-24.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Alphadigital Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Alphadigital Limited
has kept adequate accounting records and to prepare statutory
abridged financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Alphadigital Limited
. You consider that
Alphadigital Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the abridged financial statements of Alphadigital Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory abridged financial statements.
SKA Accountants
Suite C, 15 Buckwins Square
Burnt Mills Industrial Estate
Basildon
Essex
SS13 1BJ
United Kingdom
Date:
5 October 2024
Alphadigital Limited
Abridged Statement of Financial Position
29 February 2024
20242023
Note££
Fixed assets    
Tangible assets 5
337,027
 
328,792
 
Current assets    
Debtors
28,900
 
12,105
 
Cash at bank and in hand
43,956
 
138,495
 
72,856
 
150,600
 
Creditors: amounts falling due within one year
(74,304
)
(104,385
)
Net current (liabilities)/assets
(1,448
)
46,215
 
Total assets less current liabilities 335,579   375,007  
Creditors: amounts falling due after more than one year
(30,017
)
(35,017
)
Provisions for liabilities -  
(1,106
)
Net assets
305,562
 
338,884
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
305,561
 
338,883
 
Shareholders funds
305,562
 
338,884
 
For the 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.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position and the abridged income statement for the year ended
29 February 2024
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged 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.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
5 October 2024
, and are signed on behalf of the board by:
Mr N Eyre
Director
Company registration number:
10604665
Alphadigital Limited
Notes to the Abridged Financial Statements
Year ended
29 February 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
140a High Street
,
Rayleigh
,
Essex
,
SS6 7BU
, England.

2 Statement of compliance

These
abridged financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
4% reducing balance
Plant and machinery
15% reducing balance
Office equipment
15% reducing balance
Fixtures and fittings
15% reducing balance
Motor vehicles
20% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
8
(2023:
9
).

5 Fixed assets

Tangible assets
£
Cost  
At
1 March 2023
382,700
 
Additions
40,541
 
At
29 February 2024
423,241
 
Depreciation  
At
1 March 2023
53,908
 
Charge
32,306
 
At
29 February 2024
86,214
 
Carrying amount  
At
29 February 2024
337,027
 
At 28 February 2023
328,792
 

6 Guarantees and other financial commitments

Lease commitments
The company continue to incur costs for the renovation of a new leased office having now moved out from the previous rented office. The continued expansion will hopefully attract new clients and new opportunities.

7 Director's advances, credit and guarantees

At the beginning of the year, the Director, Mr. NJ Eyre, was owed £16,836 as a Directors Loan Account. At end of the year, the Director, was owed £6,641. During they year, the Director, was repaid £10,195.