IRIS Accounts Production v24.3.0.553 05700154 director 1.3.23 29.2.24 29.2.24 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057001542023-02-28057001542024-02-29057001542023-03-012024-02-29057001542022-02-28057001542022-03-012023-02-28057001542023-02-2805700154ns15:EnglandWales2023-03-012024-02-2905700154ns14:PoundSterling2023-03-012024-02-2905700154ns10:Director12023-03-012024-02-2905700154ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2905700154ns10:SmallEntities2023-03-012024-02-2905700154ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2905700154ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2905700154ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2905700154ns10:FullAccounts2023-03-012024-02-2905700154ns10:OrdinaryShareClass12023-03-012024-02-2905700154ns5:CurrentFinancialInstruments2024-02-2905700154ns5:CurrentFinancialInstruments2023-02-2805700154ns5:Non-currentFinancialInstruments2024-02-2905700154ns5:Non-currentFinancialInstruments2023-02-2805700154ns5:ShareCapital2024-02-2905700154ns5:ShareCapital2023-02-2805700154ns5:RevaluationReserve2024-02-2905700154ns5:RevaluationReserve2023-02-2805700154ns5:RetainedEarningsAccumulatedLosses2024-02-2905700154ns5:RetainedEarningsAccumulatedLosses2023-02-2805700154ns10:RegisteredOffice2023-03-012024-02-2905700154ns5:Secured2024-02-2905700154ns5:Secured2023-02-2805700154ns10:OrdinaryShareClass12024-02-2905700154ns5:RevaluationReserve2023-02-28
REGISTERED NUMBER: 05700154 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

DIGITAL ACCESS SOLUTIONS LIMITED

DIGITAL ACCESS SOLUTIONS LIMITED (REGISTERED NUMBER: 05700154)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


DIGITAL ACCESS SOLUTIONS LIMITED (REGISTERED NUMBER: 05700154)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 290,000 280,000

CURRENT ASSETS
Cash at bank 2,421 1,352

CREDITORS
Amounts falling due within one year 5 10,333 10,394
NET CURRENT LIABILITIES (7,912 ) (9,042 )
TOTAL ASSETS LESS CURRENT LIABILITIES 282,088 270,958

CREDITORS
Amounts falling due after more than one year 6 - (1,991 )

PROVISIONS FOR LIABILITIES (25,229 ) (22,729 )
NET ASSETS 256,859 246,238

CAPITAL AND RESERVES
Called up share capital 8 2 2
Fair value reserve 9 132,610 125,110
Retained earnings 124,247 121,126
SHAREHOLDERS' FUNDS 256,859 246,238

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 director acknowledges his 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2024 and were signed by:





Mr D P Rapley - Director


DIGITAL ACCESS SOLUTIONS LIMITED (REGISTERED NUMBER: 05700154)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Digital Access Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05700154

Registered office: Ingram House
6 Meridian Way
Norwich
Norfolk
NR7 0TA

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.

At 29 February 2024 the company had net current liabilities of £7,912. The director considers that, on the basis of anticipated trading and forecasts, and continued director support, the company will trade profitably and meet its obligations as they fall due and, accordingly, the financial statements are prepared on the going concern basis.

The financial statements are presented in sterling, which is the functional currency of the company.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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. AVERAGE NUMBER OF EMPLOYEES

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

DIGITAL ACCESS SOLUTIONS LIMITED (REGISTERED NUMBER: 05700154)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 280,000
Revaluations 10,000
At 29 February 2024 290,000
NET BOOK VALUE
At 29 February 2024 290,000
At 28 February 2023 280,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 290,000

If Investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 143,735 143,735

Investment property was valued on a fair value basis on by the director .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,830 3,863
Taxation and social security 1,201 973
Other creditors 7,302 5,558
10,333 10,394

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1,991

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,830 5,854

The security takes the form of a fixed charge over the investment property.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

DIGITAL ACCESS SOLUTIONS LIMITED (REGISTERED NUMBER: 05700154)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. RESERVES
Fair
value
reserve
£   
At 1 March 2023 125,110
Transfer fair value movement 10,000
Transfer deferred tax on fair
value movement (2,500 )

At 29 February 2024 132,610