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REGISTERED NUMBER: 06772960 (England and Wales)















AFP DIGITAL LIMITED

Unaudited Financial Statements

for the Year Ended 30 June 2024






AFP DIGITAL LIMITED (Registered number: 06772960)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AFP DIGITAL LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: A C Bennell
R A Pharo





REGISTERED OFFICE: 1 College Court
College Road
Gildersome
Morley
West Yorkshire
LS27 7WF





REGISTERED NUMBER: 06772960 (England and Wales)





ACCOUNTANTS: Maclean & Company
1 Park View Court
St Paul's Road
Shipley
West Yorkshire
BD18 3DZ

AFP DIGITAL LIMITED (Registered number: 06772960)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 34,588
Tangible assets 5 343,330 271,420
343,330 306,008

CURRENT ASSETS
Stocks 810,000 825,000
Debtors 6 1,133,973 884,339
Cash at bank 30,019 9,480
1,973,992 1,718,819
CREDITORS
Amounts falling due within one year 7 1,347,677 1,261,339
NET CURRENT ASSETS 626,315 457,480
TOTAL ASSETS LESS CURRENT
LIABILITIES

969,645

763,488

CREDITORS
Amounts falling due after more than one
year

8

678,485

447,715
NET ASSETS 291,160 315,773

CAPITAL AND RESERVES
Called up share capital 140 140
Retained earnings 291,020 315,633
SHAREHOLDERS' FUNDS 291,160 315,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

AFP DIGITAL LIMITED (Registered number: 06772960)

Balance Sheet - continued
30 June 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:




R A Pharo - Director



A C Bennell - Director


AFP DIGITAL LIMITED (Registered number: 06772960)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

AFP DIGITAL LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures, fittings & equipment - 25% on reducing balance
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development
The company capitalises expenditure on specific methodology, software tools and practices which it will actively market in future years. Such expenditure is amortised over the succeeding five years in equal annual instalments.

AFP DIGITAL LIMITED (Registered number: 06772960)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Research
& development
Goodwill costs Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 15,000 208,731 223,731
AMORTISATION
At 1 July 2023 15,000 174,143 189,143
Amortisation for year - 34,588 34,588
At 30 June 2024 15,000 208,731 223,731
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 - 34,588 34,588

AFP DIGITAL LIMITED (Registered number: 06772960)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures,
Plant and fittings Motor
machinery & equipment vehicles Totals
£    £    £    £   
COST
At 1 July 2023 87,821 92,029 292,562 472,412
Additions - - 210,228 210,228
Disposals - - (87,987 ) (87,987 )
At 30 June 2024 87,821 92,029 414,803 594,653
DEPRECIATION
At 1 July 2023 72,573 26,299 102,120 200,992
Charge for year 3,812 16,433 86,504 106,749
Eliminated on disposal - - (56,418 ) (56,418 )
At 30 June 2024 76,385 42,732 132,206 251,323
NET BOOK VALUE
At 30 June 2024 11,436 49,297 282,597 343,330
At 30 June 2023 15,248 65,730 190,442 271,420

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 292,562
Additions 210,228
Disposals (87,987 )
At 30 June 2024 414,803
DEPRECIATION
At 1 July 2023 102,120
Charge for year 86,504
Eliminated on disposal (56,418 )
At 30 June 2024 132,206
NET BOOK VALUE
At 30 June 2024 282,597
At 30 June 2023 190,442

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 732,617 503,268
Other debtors 401,356 381,071
1,133,973 884,339

AFP DIGITAL LIMITED (Registered number: 06772960)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 387,197 426,744
Hire purchase contracts 55,206 42,047
Trade creditors 259,349 283,261
Taxation 351,388 201,451
Other creditors 294,537 307,836
1,347,677 1,261,339

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 425,560 280,667
Hire purchase contracts 252,925 167,048
678,485 447,715

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 59,515 8,644

9. SECURED DEBTS

Bank and associated borrowings are secured by a fixed and floating charge over all the assets.

Hire purchase contracts are secured against the specific fixed assets to which they relate.