Registered number
15104933
Its Disco Limited
Unaudited Filleted Accounts
31 August 2024
Its Disco Limited
Registered number: 15104933
Balance Sheet
as at 31 August 2024
Notes 2024
£
Fixed assets
Tangible assets 3 5,051
Current assets
Debtors 4 44,862
Cash at bank and in hand 4,420
49,282
Creditors: amounts falling due within one year 5 (23,111)
Net current assets 26,171
Net assets 31,222
Capital and reserves
Called up share capital 11
Share premium 150,868
Profit and loss account (119,657)
Shareholders' funds 31,222
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Westlake
Director
Approved by the board on 28 November 2024
Its Disco Limited
Notes to the Accounts
for the period from 30 August 2023 to 31 August 2024
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024
Number
Average number of persons employed by the company 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 6,734
At 31 August 2024 6,734
Depreciation
Charge for the period 1,683
At 31 August 2024 1,683
Net book value
At 31 August 2024 5,051
4 Debtors 2024
£
Deferred tax asset 15,971
Other debtors 28,891
44,862
5 Creditors: amounts falling due within one year 2024
£
Trade creditors 3,252
Taxation and social security costs 11,156
Other creditors 8,703
23,111
6 Going Concern
The accounts have been prepared under the going concern basis, however the company is reliant on continued external investment.
7 Other information
Its Disco Limited is a private company limited by shares and incorporated in England. Its registered office is:
10 Southernhay West
Exeter
Devon
EX1 1JG
Its Disco Limited 15104933 false 2023-08-30 2024-08-31 2024-08-31 VT Final Accounts July 2024 Mr D Westlake No description of principal activity 15104933 2023-08-30 2024-08-31 15104933 bus:PrivateLimitedCompanyLtd 2023-08-30 2024-08-31 15104933 bus:AuditExemptWithAccountantsReport 2023-08-30 2024-08-31 15104933 bus:Director40 2023-08-30 2024-08-31 15104933 1 2023-08-30 2024-08-31 15104933 countries:England 2023-08-30 2024-08-31 15104933 bus:FRS102 2023-08-30 2024-08-31 15104933 bus:FilletedAccounts 2023-08-30 2024-08-31 15104933 2024-08-31 15104933 core:WithinOneYear 2024-08-31 15104933 core:ShareCapital 2024-08-31 15104933 core:SharePremium 2024-08-31 15104933 core:RetainedEarningsAccumulatedLosses 2024-08-31 15104933 2023-08-29 iso4217:GBP xbrli:pure