Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-03-01falsecomputer graphic and reprographic design, print and illistration1010truetruefalse 03512388 2023-03-01 2024-02-29 03512388 2022-03-01 2023-02-28 03512388 2024-02-29 03512388 2023-02-28 03512388 c:Director1 2023-03-01 2024-02-29 03512388 d:Buildings d:LongLeaseholdAssets 2023-03-01 2024-02-29 03512388 d:Buildings d:LongLeaseholdAssets 2024-02-29 03512388 d:Buildings d:LongLeaseholdAssets 2023-02-28 03512388 d:LandBuildings 2024-02-29 03512388 d:LandBuildings 2023-02-28 03512388 d:PlantMachinery 2023-03-01 2024-02-29 03512388 d:PlantMachinery 2024-02-29 03512388 d:PlantMachinery 2023-02-28 03512388 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03512388 d:MotorVehicles 2023-03-01 2024-02-29 03512388 d:MotorVehicles 2024-02-29 03512388 d:MotorVehicles 2023-02-28 03512388 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03512388 d:FurnitureFittings 2023-03-01 2024-02-29 03512388 d:FurnitureFittings 2024-02-29 03512388 d:FurnitureFittings 2023-02-28 03512388 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03512388 d:OfficeEquipment 2023-03-01 2024-02-29 03512388 d:OfficeEquipment 2024-02-29 03512388 d:OfficeEquipment 2023-02-28 03512388 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03512388 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03512388 d:CurrentFinancialInstruments 2024-02-29 03512388 d:CurrentFinancialInstruments 2023-02-28 03512388 d:Non-currentFinancialInstruments 2024-02-29 03512388 d:Non-currentFinancialInstruments 2023-02-28 03512388 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 03512388 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 03512388 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 03512388 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 03512388 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 03512388 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 03512388 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 03512388 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 03512388 d:ShareCapital 2024-02-29 03512388 d:ShareCapital 2023-02-28 03512388 d:RetainedEarningsAccumulatedLosses 2024-02-29 03512388 d:RetainedEarningsAccumulatedLosses 2023-02-28 03512388 c:FRS102 2023-03-01 2024-02-29 03512388 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 03512388 c:FullAccounts 2023-03-01 2024-02-29 03512388 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03512388 d:HirePurchaseContracts d:WithinOneYear 2024-02-29 03512388 d:HirePurchaseContracts d:WithinOneYear 2023-02-28 03512388 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-02-29 03512388 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-02-28 03512388 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 03512388 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 03512388 d:TaxLossesCarry-forwardsDeferredTax 2024-02-29 03512388 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 03512388 d:OtherDeferredTax 2024-02-29 03512388 d:OtherDeferredTax 2023-02-28 03512388 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 03512388










DIGITAL FACTORY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Year Ended 29 February 2024

 
DIGITAL FACTORY LIMITED
Registered number: 03512388

STATEMENT OF FINANCIAL POSITION
As at 29 February 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
365,621
390,695

  
365,621
390,695

Current assets
  

Stocks
  
11,000
11,000

Debtors: amounts falling due within one year
 5 
255,601
295,919

Cash at bank and in hand
 6 
103,867
216,732

  
370,468
523,651

Creditors: amounts falling due within one year
 7 
(208,768)
(449,180)

Net current assets
  
 
 
161,700
 
 
74,471

Total assets less current liabilities
  
527,321
465,166

Creditors: amounts falling due after more than one year
 8 
(79,807)
(162,957)

Provisions for liabilities
  

Deferred tax
  
(64,448)
(47,260)

  
 
 
(64,448)
 
 
(47,260)

Net assets
  
383,066
254,949


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
382,966
254,849

  
383,066
254,949


Page 1

 
DIGITAL FACTORY LIMITED
Registered number: 03512388
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
As at 29 February 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
C J Norton
Director

Date: 28 November 2024

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
DIGITAL FACTORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 29 February 2024

1.


General information

The company, which was incorporated and registered in England and Wales (registered number 3512388), is a privately owned company limited by shares.  The registered office address is Wey Court West, Union Road, Farnham , Surrey, GU9 7PT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
DIGITAL FACTORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 29 February 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detailed below..

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
10% on cost
Plant & machinery
-
15-25% reducing balance
Motor vehicles
-
20% reducing balance
Fixtures & fittings
-
25% reducing balance
Office equipment
-
33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in first out basis. Work in progress and finished goods include labour and attributable overheads.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
DIGITAL FACTORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 29 February 2024

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
DIGITAL FACTORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 29 February 2024

2.Accounting policies (continued)

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.



3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 10).

Page 6

 
DIGITAL FACTORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 29 February 2024

4.


Tangible fixed assets







L/Term Leasehold Property
Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 March 2023
104,083
975,502
36,545
11,924
40,941


Additions
-
55,707
-
-
12,080



At 29 February 2024

104,083
1,031,209
36,545
11,924
53,021



Depreciation


At 1 March 2023
72,858
635,932
30,157
5,221
34,132


Charge for the year on owned assets
10,408
73,870
1,597
1,676
5,310



At 29 February 2024

83,266
709,802
31,754
6,897
39,442



Net book value



At 29 February 2024
20,817
321,407
4,791
5,027
13,579



At 28 February 2023
31,225
339,570
6,388
6,703
6,809
Page 7

 
DIGITAL FACTORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 29 February 2024

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 March 2023
1,168,995


Additions
67,787



At 29 February 2024

1,236,782



Depreciation


At 1 March 2023
778,300


Charge for the year on owned assets
92,861



At 29 February 2024

871,161



Net book value



At 29 February 2024
365,621



At 28 February 2023
390,695

Page 8

 
DIGITAL FACTORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 29 February 2024

           4.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


29 February
28 February
2024
2023
£
£

Long leasehold
20,817
31,225

20,817
31,225



5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
240,699
241,386

Other debtors
1,650
37,401

Prepayments and accrued income
13,252
17,132

255,601
295,919



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
103,867
216,732

103,867
216,732


Page 9

 
DIGITAL FACTORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 29 February 2024

7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Other loans
92,392
162,423

Trade creditors
25,316
200,087

Amounts owed to group undertakings
33,987
33,987

Corporation tax
191
-

Other taxation and social security
30,787
26,765

Obligations under finance lease and hire purchase contracts
14,367
14,367

Other creditors
4,669
6,105

Accruals and deferred income
7,059
5,446

208,768
449,180



8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Other loans
65,370
136,618

Net obligations under finance leases and hire purchase contracts
14,437
26,339

79,807
162,957


Page 10

 
DIGITAL FACTORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 29 February 2024

9.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Other loans
92,392
162,423


92,392
162,423

Amounts falling due 1-2 years

Other loans
65,370
86,393


65,370
86,393

Amounts falling due 2-5 years

Other loans
-
50,225


-
50,225


157,762
299,041



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

29 February
28 February
2024
2023
£
£


Within one year
14,367
14,367

Between 1-5 years
14,437
26,339

28,804
40,706

Page 11

 
DIGITAL FACTORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 29 February 2024

11.


Deferred taxation






2024


£






At beginning of year
(47,260)


Charged to profit or loss
(17,188)



At end of year
(64,448)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(64,574)
(64,879)

Tax losses carried forward
-
17,415

Short term timing differences
126
204

(64,448)
(47,260)


12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £8,771 (2023 - £8,511). Contributions of £1,192 were payable at the year end (2023 - £815). 

Page 12

 
DIGITAL FACTORY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 29 February 2024

13.


Controlling party

The ultimate parent undertaking is DFL Holdings Limited who owns 100% of the share capital.
DFL Holdings Limited is 100% owned by Mr C J Norton, director of Digital Factory Limited.

 
Page 13