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REGISTERED NUMBER: 06341560 (England and Wales)













DIGITALIS TRADING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






DIGITALIS TRADING LIMITED (REGISTERED NUMBER: 06341560)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


DIGITALIS TRADING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mrs J S Atkins
G I Atkins





SECRETARY: Mrs J S Atkins





REGISTERED OFFICE: Unit A2,The Seedbed Centre
Davidson Way
Romford
Essex
RM7 0AZ





REGISTERED NUMBER: 06341560 (England and Wales)





ACCOUNTANTS: CUTTER & CO LTD
CHARTERED ACCOUNTANTS
3 Lyttleton Court
Birmingham Street
Halesowen
West Midlands
B63 3HN

DIGITALIS TRADING LIMITED (REGISTERED NUMBER: 06341560)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 840 960
Tangible assets 5 49,044 64,194
49,884 65,154

CURRENT ASSETS
Stocks 375,924 368,933
Debtors 6 140,156 294,708
Cash at bank 943,953 1,096,382
1,460,033 1,760,023
CREDITORS
Amounts falling due within one year 7 334,100 428,265
NET CURRENT ASSETS 1,125,933 1,331,758
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,175,817

1,396,912

PROVISIONS FOR LIABILITIES 5,438 5,873
NET ASSETS 1,170,379 1,391,039

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,170,279 1,390,939
SHAREHOLDERS' FUNDS 1,170,379 1,391,039

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.

DIGITALIS TRADING LIMITED (REGISTERED NUMBER: 06341560)

BALANCE SHEET - continued
29 FEBRUARY 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 19 November 2024 and were signed on its behalf by:





G I Atkins - Director


DIGITALIS TRADING LIMITED (REGISTERED NUMBER: 06341560)

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

1. STATUTORY INFORMATION

Digitalis Trading 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

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

Computer and office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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 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.

DIGITALIS TRADING LIMITED (REGISTERED NUMBER: 06341560)

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

2. ACCOUNTING POLICIES - continued

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023
and 29 February 2024 1,200
AMORTISATION
At 1 March 2023 240
Charge for year 120
At 29 February 2024 360
NET BOOK VALUE
At 29 February 2024 840
At 28 February 2023 960

DIGITALIS TRADING LIMITED (REGISTERED NUMBER: 06341560)

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

5. TANGIBLE FIXED ASSETS
Computer
and
Motor office
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 107,690 13,983 121,673
Additions - 1,056 1,056
Disposals - (274 ) (274 )
At 29 February 2024 107,690 14,765 122,455
DEPRECIATION
At 1 March 2023 47,114 10,365 57,479
Charge for year 15,144 1,034 16,178
Eliminated on disposal - (246 ) (246 )
At 29 February 2024 62,258 11,153 73,411
NET BOOK VALUE
At 29 February 2024 45,432 3,612 49,044
At 28 February 2023 60,576 3,618 64,194

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 133,290 70,046
Directors' current accounts - 219,999
Prepayments 6,866 4,663
140,156 294,708

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 3
Trade creditors 228,486 269,305
Corporation tax - 72,339
Social security and other taxes 2,810 1,790
VAT 95,963 80,372
Other creditors 6,120 3,838
Directors' current accounts 90 -
Accrued expenses 631 618
334,100 428,265

DIGITALIS TRADING LIMITED (REGISTERED NUMBER: 06341560)

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

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mrs J S Atkins
Balance outstanding at start of year 109,999 (1 )
Amounts advanced 7,920 110,000
Amounts repaid (117,964 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (45 ) 109,999

G I Atkins
Balance outstanding at start of year 109,999 (1 )
Amounts advanced 7,920 110,000
Amounts repaid (117,964 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (45 ) 109,999