2023-03-012024-02-292024-02-29false03208340DIGIT INFO-TEC LTD2024-11-2862090iso4217:GBPxbrli:pure032083402023-03-01032083402024-02-29032083402023-03-012024-02-29032083402022-03-01032083402023-02-28032083402022-03-012023-02-2803208340bus:SmallEntities2023-03-012024-02-2903208340bus:AuditExempt-NoAccountantsReport2023-03-012024-02-2903208340bus:FullAccounts2023-03-012024-02-2903208340bus:PrivateLimitedCompanyLtd2023-03-012024-02-2903208340core:WithinOneYear2024-02-2903208340core:AfterOneYear2024-02-2903208340core:WithinOneYear2023-02-2803208340core:AfterOneYear2023-02-2803208340core:ShareCapital2024-02-2903208340core:SharePremium2024-02-2903208340core:RevaluationReserve2024-02-2903208340core:OtherReservesSubtotal2024-02-2903208340core:RetainedEarningsAccumulatedLosses2024-02-2903208340core:ShareCapital2023-02-2803208340core:SharePremium2023-02-2803208340core:RevaluationReserve2023-02-2803208340core:OtherReservesSubtotal2023-02-2803208340core:RetainedEarningsAccumulatedLosses2023-02-2803208340core:LandBuildings2024-02-2903208340core:PlantMachinery2024-02-2903208340core:Vehicles2024-02-2903208340core:FurnitureFittings2024-02-2903208340core:OfficeEquipment2024-02-2903208340core:NetGoodwill2024-02-2903208340core:IntangibleAssetsOtherThanGoodwill2024-02-2903208340core:ListedExchangeTraded2024-02-2903208340core:UnlistedNon-exchangeTraded2024-02-2903208340core:LandBuildings2023-02-2803208340core:PlantMachinery2023-02-2803208340core:Vehicles2023-02-2803208340core:FurnitureFittings2023-02-2803208340core:OfficeEquipment2023-02-2803208340core:NetGoodwill2023-02-2803208340core:IntangibleAssetsOtherThanGoodwill2023-02-2803208340core:ListedExchangeTraded2023-02-2803208340core:UnlistedNon-exchangeTraded2023-02-2803208340core:LandBuildings2023-03-012024-02-2903208340core:PlantMachinery2023-03-012024-02-2903208340core:Vehicles2023-03-012024-02-2903208340core:FurnitureFittings2023-03-012024-02-2903208340core:OfficeEquipment2023-03-012024-02-2903208340core:NetGoodwill2023-03-012024-02-2903208340core:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2903208340core:ListedExchangeTraded2023-03-012024-02-2903208340core:UnlistedNon-exchangeTraded2023-03-012024-02-2903208340core:MoreThanFiveYears2023-03-012024-02-2903208340core:Non-currentFinancialInstruments2024-02-2903208340core:Non-currentFinancialInstruments2023-02-2803208340dpl:CostSales2023-03-012024-02-2903208340dpl:DistributionCosts2023-03-012024-02-2903208340core:LandBuildings2023-03-012024-02-2903208340core:PlantMachinery2023-03-012024-02-2903208340core:Vehicles2023-03-012024-02-2903208340core:FurnitureFittings2023-03-012024-02-2903208340core:OfficeEquipment2023-03-012024-02-2903208340dpl:AdministrativeExpenses2023-03-012024-02-2903208340core:NetGoodwill2023-03-012024-02-2903208340core:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2903208340dpl:GroupUndertakings2023-03-012024-02-2903208340dpl:ParticipatingInterests2023-03-012024-02-2903208340dpl:GroupUndertakingscore:ListedExchangeTraded2023-03-012024-02-2903208340core:ListedExchangeTraded2023-03-012024-02-2903208340dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-03-012024-02-2903208340core:UnlistedNon-exchangeTraded2023-03-012024-02-2903208340dpl:CostSales2022-03-012023-02-2803208340dpl:DistributionCosts2022-03-012023-02-2803208340core:LandBuildings2022-03-012023-02-2803208340core:PlantMachinery2022-03-012023-02-2803208340core:Vehicles2022-03-012023-02-2803208340core:FurnitureFittings2022-03-012023-02-2803208340core:OfficeEquipment2022-03-012023-02-2803208340dpl:AdministrativeExpenses2022-03-012023-02-2803208340core:NetGoodwill2022-03-012023-02-2803208340core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2803208340dpl:GroupUndertakings2022-03-012023-02-2803208340dpl:ParticipatingInterests2022-03-012023-02-2803208340dpl:GroupUndertakingscore:ListedExchangeTraded2022-03-012023-02-2803208340core:ListedExchangeTraded2022-03-012023-02-2803208340dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-03-012023-02-2803208340core:UnlistedNon-exchangeTraded2022-03-012023-02-2803208340core:NetGoodwill2024-02-2903208340core:IntangibleAssetsOtherThanGoodwill2024-02-2903208340core:LandBuildings2024-02-2903208340core:PlantMachinery2024-02-2903208340core:Vehicles2024-02-2903208340core:FurnitureFittings2024-02-2903208340core:OfficeEquipment2024-02-2903208340core:AfterOneYear2024-02-2903208340core:WithinOneYear2024-02-2903208340core:ListedExchangeTraded2024-02-2903208340core:UnlistedNon-exchangeTraded2024-02-2903208340core:ShareCapital2024-02-2903208340core:SharePremium2024-02-2903208340core:RevaluationReserve2024-02-2903208340core:OtherReservesSubtotal2024-02-2903208340core:RetainedEarningsAccumulatedLosses2024-02-2903208340core:NetGoodwill2023-02-2803208340core:IntangibleAssetsOtherThanGoodwill2023-02-2803208340core:LandBuildings2023-02-2803208340core:PlantMachinery2023-02-2803208340core:Vehicles2023-02-2803208340core:FurnitureFittings2023-02-2803208340core:OfficeEquipment2023-02-2803208340core:AfterOneYear2023-02-2803208340core:WithinOneYear2023-02-2803208340core:ListedExc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DIGIT INFO-TEC LTD

Registered Number
03208340
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

DIGIT INFO-TEC LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

Mr. T N S Rowe

Company Secretary

Mr. A J Rowe

Registered Address

79 Higher Bore Street
Bodmin
PL31 1JT

Registered Number

03208340 (England and Wales)
DIGIT INFO-TEC LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets35,2225,222
Tangible assets46,9067,782
12,12813,004
Current assets
Stocks51,8244,150
Debtors6214,420247,599
Cash at bank and on hand139,913191,438
356,157443,187
Creditors amounts falling due within one year7(147,132)(210,009)
Net current assets (liabilities)209,025233,178
Total assets less current liabilities221,153246,182
Creditors amounts falling due after one year8(18,000)(26,000)
Provisions for liabilities9(1,381)(1,221)
Net assets201,772218,961
Capital and reserves
Called up share capital55
Profit and loss account201,767218,956
Shareholders' funds201,772218,961
The financial statements were approved and authorised for issue by the Director on 28 November 2024, and are signed on its behalf by:
Mr. T N S Rowe
Director
Registered Company No. 03208340
DIGIT INFO-TEC LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year32
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 March 235,2225,222
At 29 February 245,2225,222
Net book value
At 29 February 245,2225,222
At 28 February 235,2225,222
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 March 2370,9562,50073,456
Additions774-774
At 29 February 2471,7302,50074,230
Depreciation and impairment
At 01 March 2364,84982565,674
Charge for year1,2733771,650
At 29 February 2466,1221,20267,324
Net book value
At 29 February 245,6081,2986,906
At 28 February 236,1071,6757,782
5.Stocks

2024

2023

££
Other stocks1,8244,150
Total1,8244,150
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables130,405158,373
Other debtors84,01588,726
Prepayments and accrued income-500
Total214,420247,599
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables46,33860,924
Bank borrowings and overdrafts76,46262,662
Taxation and social security6,60070,752
Other creditors13,73411,673
Accrued liabilities and deferred income3,9983,998
Total147,132210,009
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts18,00026,000
Total18,00026,000
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,3811,221
Total1,3811,221