Company Registration No. 12293831 (England and Wales)
We Are The Digital Type Limited
Unaudited accounts
for the year ended 29 February 2024
We Are The Digital Type Limited
Unaudited accounts
Contents
We Are The Digital Type Limited
Company Information
for the year ended 29 February 2024
Director
Candice Elizabeth Lott
Company Number
12293831 (England and Wales)
Registered Office
Gloucester House
23a London Road
Peterborough
PE2 8AN
England
Accountants
Realise Finance Ltd
Gloucester House
23a London Road
Peterborough
PE2 8AN
We Are The Digital Type Limited
Statement of financial position
as at 29 February 2024
Tangible assets
9,208
6,556
Cash at bank and in hand
20,308
68,458
Creditors: amounts falling due within one year
(22,940)
(31,760)
Net current assets
32,498
51,228
Called up share capital
1
1
Profit and loss account
41,705
57,783
Shareholders' funds
41,706
57,784
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 November 2024 and were signed on its behalf by
Candice Elizabeth Lott
Director
Company Registration No. 12293831
We Are The Digital Type Limited
Notes to the Accounts
for the year ended 29 February 2024
We Are The Digital Type Limited is a private company, limited by shares, registered in England and Wales, registration number 12293831. The registered office is Gloucester House, 23a London Road, Peterborough, PE2 8AN, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% straight line
Computer equipment
33% straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the director continues to adopt the going concern basis of accounting in the preperation of these financial statements.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
We Are The Digital Type Limited
Notes to the Accounts
for the year ended 29 February 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2023
2,610
9,019
11,629
Additions
3,090
9,349
12,439
Disposals
(686)
(3,122)
(3,808)
At 29 February 2024
5,014
15,246
20,260
At 1 March 2023
1,145
3,928
5,073
Charge for the year
1,004
5,029
6,033
At 29 February 2024
2,095
8,957
11,052
At 29 February 2024
2,919
6,289
9,208
At 28 February 2023
1,465
5,091
6,556
Amounts falling due within one year
Trade debtors
35,130
12,030
Accrued income and prepayments
-
2,500
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
15,119
15,283
Loans from directors
2,505
2,519
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Average number of employees
During the year the average number of employees was 3 (2023: 1).