Company registration number 13467395 (England and Wales)
DIGITAL ARROW LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
DIGITAL ARROW LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
DIGITAL ARROW LTD
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
74,412
5,678
Tangible assets
4
425
500
74,837
6,178
Current assets
Debtors
5
31,402
39,200
Cash at bank and in hand
63,129
93,607
94,531
132,807
Creditors: amounts falling due within one year
6
(11,348)
(19,258)
Net current assets
83,183
113,549
Total assets less current liabilities
158,020
119,727
Provisions for liabilities
(81)
(125)
Net assets
157,939
119,602
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
157,938
119,601
Total equity
157,939
119,602

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 9 January 2025
Mr I R Harrison
Director
Company registration number 13467395 (England and Wales)
DIGITAL ARROW LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Digital Arrow Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

 

1.3
Intangible fixed assets other than goodwill

Intangible assets are recognised at cost and are subsequently measured at fair value through profit and loss.

 

Intangible assets are recognised where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% per annum on net book value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DIGITAL ARROW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Intangible fixed assets
Bitcoin
£
Cost
At 1 July 2023
5,678
Additions
30,980
Revaluation
37,754
At 30 June 2024
74,412
Amortisation and impairment
At 1 July 2023 and 30 June 2024
-
0
Carrying amount
At 30 June 2024
74,412
At 30 June 2023
5,678

The Bitcoin are held in trust on behalf of the company and have been converted to GBP at the reporting date.

DIGITAL ARROW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 and 30 June 2024
629
Depreciation and impairment
At 1 July 2023
129
Depreciation charged in the year
75
At 30 June 2024
204
Carrying amount
At 30 June 2024
425
At 30 June 2023
500
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
14,926
24,019
Other debtors
16,476
15,181
31,402
39,200
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
7,105
15,183
Other creditors
4,243
4,075
11,348
19,258
DIGITAL ARROW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
7
Directors' transactions

Advances or credits have been granted by the company to its director as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
One Director
2.25
15,181
40,080
377
(39,162)
16,476
15,181
40,080
377
(39,162)
16,476

This loan was unsecured and repayable on demand.

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