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Registered number: 03034758
Digitronix Ltd.
Unaudited Financial Statements
For The Year Ended 30 April 2024
Root Accountants Ltd
Sandown House
Sandbeck Way
Wetherby
LS22 7DN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03034758
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 260,292 279,653
Investments 5 24,875 24,875
285,167 304,528
CURRENT ASSETS
Stocks 6 29,500 29,500
Debtors 7 325,347 418,749
Cash at bank and in hand 344,144 405,640
698,991 853,889
Creditors: Amounts Falling Due Within One Year 8 (188,296 ) (257,766 )
NET CURRENT ASSETS (LIABILITIES) 510,695 596,123
TOTAL ASSETS LESS CURRENT LIABILITIES 795,862 900,651
Creditors: Amounts Falling Due After More Than One Year 9 (152,345 ) (172,076 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (43,758 ) (38,000 )
NET ASSETS 599,759 690,575
CAPITAL AND RESERVES
Called up share capital 12 108 111
Capital redemption reserve 3 -
Profit and Loss Account 599,648 690,464
SHAREHOLDERS' FUNDS 599,759 690,575
Page 1
Page 2
For the year ending 30 April 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Thomas Stevenson
Director
04/12/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Digitronix Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 03034758 . The registered office is Unit 6, Union Mills, 9 Dewsbury Road, Leeds, West Yorkshire, LS11 5DD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Written down value
Motor Vehicles 25% Written down value
Fixtures & Fittings 10% Written down value
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 14)
14 14
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 May 2023 188,632 562,395 751,027
Additions 64,591 4,993 69,584
Disposals (41,807 ) - (41,807 )
As at 30 April 2024 211,416 567,388 778,804
Depreciation
As at 1 May 2023 40,505 430,869 471,374
Provided during the period 50,918 24,106 75,024
Disposals (27,886 ) - (27,886 )
As at 30 April 2024 63,537 454,975 518,512
Net Book Value
As at 30 April 2024 147,879 112,413 260,292
As at 1 May 2023 148,127 131,526 279,653
5. Investments
Unlisted
£
Cost
As at 1 May 2023 24,875
As at 30 April 2024 24,875
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 24,875
As at 1 May 2023 24,875
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Page 5
6. Stocks
2024 2023
£ £
Finished goods 12,000 12,000
Work in progress 17,500 17,500
29,500 29,500
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 289,882 391,144
Prepayments and accrued income 461 3,263
Other debtors 2,100 5,434
Director's loan account 32,904 18,908
325,347 418,749
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 21,317 26,827
Trade creditors 46,740 19,050
Bank loans and overdrafts 22,473 27,273
Other taxes and social security 90,206 153,457
Other creditors 5,265 6,512
Accruals and deferred income 2,295 24,647
188,296 257,766
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 118,000 115,258
Bank loans 34,345 56,818
152,345 172,076
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 21,317 26,827
Later than one year and not later than five years 118,000 115,258
139,317 142,085
139,317 142,085
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11. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 43,758 38,000
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 108 111
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mr Thomas Stevenson 18,908 13,996 - - 32,904
The above loan is unsecured and repayable on demand. Interest is charged on the loan at the official rate of interest.
14. Ultimate Controlling Party
The company's ultimate controlling party is the director by virtue of his ownership of 64% of the issued share capital in the company.
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