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Registration number: 11217333

Victory Digital Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 29 February 2024

 

Victory Digital Limited

Contents

Company Information

1

Directors' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 7

 

Victory Digital Limited

Company Information

Directors

C Simpson

A Blackshaw

Company secretary

C Simpson

Registered office

Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

Accountants

Perrigo Consultants Limited
Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

 

Victory Digital Limited

Directors' Report for the Year Ended 29 February 2024

The directors present their report and the abridged financial statements for the year ended 29 February 2024.

Directors of the company

The directors who held office during the year were as follows:

C Simpson - Company secretary and director

A Blackshaw

Principal activity

The principal activity of the company is information technology consultancy activities.

Small companies provision statement

This report has 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.

Approved by the Board on 14 November 2024 and signed on its behalf by:

C Simpson
Company secretary and director

   
     
 

Victory Digital Limited

(Registration number: 11217333)
Abridged Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

3,298

5,535

Current assets

 

Debtors

6

18,202

12,266

Cash at bank and in hand

 

3,317

9,667

 

21,519

21,933

Prepayments and accrued income

 

-

260

Creditors: Amounts falling due within one year

(16,152)

(15,133)

Net current assets

 

5,367

7,060

Total assets less current liabilities

 

8,665

12,595

Provisions for liabilities

-

(1,052)

Accruals and deferred income

 

(2,080)

(1,939)

Net assets

 

6,585

9,604

Capital and reserves

 

Called up share capital

7

200

200

Retained earnings

6,385

9,404

Shareholders' funds

 

6,585

9,604

 

Victory Digital Limited

(Registration number: 11217333)
Abridged Balance Sheet as at 29 February 2024

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 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 14 November 2024 and signed on its behalf by:
 

C Simpson
Company secretary and director

   
     
 

Victory Digital Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

These financial statements were authorised for issue by the Board on 14 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged 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 abridged 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.

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.

 

Victory Digital Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

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.

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

Fixture & fittings

25% Straight line

Office equipment

33% Straight line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 5).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

4,078

4,347

 

Victory Digital Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2023

3,023

14,244

17,267

Additions

399

1,443

1,842

At 29 February 2024

3,422

15,687

19,109

Depreciation

At 1 March 2023

1,238

10,494

11,732

Charge for the year

752

3,327

4,079

At 29 February 2024

1,990

13,821

15,811

Carrying amount

At 29 February 2024

1,432

1,866

3,298

At 28 February 2023

1,785

3,750

5,535

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

98

98

98

98

Ordinary B of £1 each

102

102

102

102

200

200

200

200