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REGISTERED NUMBER: 09969852 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Digitec Limited

Digitec Limited (Registered number: 09969852)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Digitec Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S M Lawson
C Simpson
N M Wojtas
C Taylor





REGISTERED OFFICE: 74 Leeds Road
Wakefield
West Yorkshire
WF1 2QF





REGISTERED NUMBER: 09969852 (England and Wales)





ACCOUNTANTS: The Sanders Partnership
Chartered Accountants
19 King Street
The Civic Quarter
Wakefield
West Yorkshire
WF1 2SQ

Digitec Limited (Registered number: 09969852)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,609 21,484

CURRENT ASSETS
Stocks 158,401 74,286
Debtors 5 400,123 290,526
Cash at bank 171,179 70,548
729,703 435,360
CREDITORS
Amounts falling due within one year 6 630,234 397,818
NET CURRENT ASSETS 99,469 37,542
TOTAL ASSETS LESS CURRENT LIABILITIES 118,078 59,026

CREDITORS
Amounts falling due after more than one year 7 (32,546 ) (31,757 )

PROVISIONS FOR LIABILITIES (5,971 ) (5,276 )
NET ASSETS 79,561 21,993

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 9 79,361 21,793
SHAREHOLDERS' FUNDS 79,561 21,993

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Digitec Limited (Registered number: 09969852)

Statement of Financial Position - continued
31 March 2024


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 14 November 2024 and were signed on its behalf by:




S M Lawson - Director



N M Wojtas - Director


Digitec Limited (Registered number: 09969852)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Digitec 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are only set up where it is probable that a present obligation exists as a result of an event prior to the balance sheet and that a payment will be required in settlement that can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

Digitec Limited (Registered number: 09969852)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 9,088 34,266 12,563 55,917
Additions - 5,000 - 5,000
At 31 March 2024 9,088 39,266 12,563 60,917
DEPRECIATION
At 1 April 2023 6,803 19,387 8,243 34,433
Charge for year 571 4,761 2,543 7,875
At 31 March 2024 7,374 24,148 10,786 42,308
NET BOOK VALUE
At 31 March 2024 1,714 15,118 1,777 18,609
At 31 March 2023 2,285 14,879 4,320 21,484

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 85,233 82,968
Other debtors 46,000 15,000
Directors' current accounts 268,057 192,558
Prepayments and accrued income 833 -
400,123 290,526

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 13,797 10,000
Hire purchase contracts 10,090 3,133
Trade creditors 153,707 49,344
Tax 92,934 37,834
Social security and other taxes 10,797 15,220
Pensions control 1,429 1,115
VAT 42,411 39,555
Accruals and deferred income 302,753 239,999
Accrued expenses 2,316 1,618
630,234 397,818

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 14,440 10,000
Bank loans - 2-5 years 18,106 11,667
Hire purchase contracts - 10,090
32,546 31,757

Digitec Limited (Registered number: 09969852)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 10p 200 200

9. RESERVES
Retained
earnings
£   

At 1 April 2023 21,793
Profit for the year 157,568
Dividends (100,000 )
At 31 March 2024 79,361

10. OTHER FINANCIAL COMMITMENTS

At 31st March 2024 the company had financial commitments not provided for in the financial statements totalling £69,300 (2023: £94,500)

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
S M Lawson
Balance outstanding at start of year 96,517 58,923
Amounts advanced 92,903 106,804
Amounts repaid (68,125 ) (69,210 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 121,295 96,517

C Simpson
Balance outstanding at start of year 794 794
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 794 794

N M Wojtas
Balance outstanding at start of year 95,247 36,335
Amounts advanced 116,010 121,916
Amounts repaid (65,289 ) (63,004 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 145,968 95,247

Interest has been charged at 2.25% and the loan is repayable on demand.

12. RELATED PARTY DISCLOSURES

No transactions with related parties were undertaken such as are required to be disclosed under Financial
Reporting Standard 8.

Digitec Limited (Registered number: 09969852)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S M Lawson.