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Unaudited Financial Statements for the Year Ended 30 April 2024

for

Digibay Limited

Digibay Limited (Registered number: SC267253)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Digibay Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: G F Cope
C A Smith





REGISTERED OFFICE: 157 Kilmarnock Road
Shawlands
Glasgow
G41 3JE





REGISTERED NUMBER: SC267253 (Scotland)





ACCOUNTANTS: Ian Macfarlane Limited
Chartered Accountants
2 Melville Street
Falkirk
FK1 1HZ

Digibay Limited (Registered number: SC267253)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 710 758

CURRENT ASSETS
Debtors 5 88,567 80,567
Investments 6 - 7,324
Cash at bank and in hand 11,395 6,314
99,962 94,205
CREDITORS
Amounts falling due within one year 7 67,616 50,765
NET CURRENT ASSETS 32,346 43,440
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,056

44,198

CREDITORS
Amounts falling due after more than one year 8 (11,667 ) (21,667 )

PROVISIONS FOR LIABILITIES (135 ) (1,535 )
NET ASSETS 21,254 20,996

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Fair value reserve 10 - 12,831
Retained earnings 20,254 7,165
SHAREHOLDERS' FUNDS 21,254 20,996

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Digibay Limited (Registered number: SC267253)

Balance Sheet - continued
30 April 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 20 January 2025 and were signed on its behalf by:




G F Cope - Director



C A Smith - Director


Digibay Limited (Registered number: SC267253)

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

1. STATUTORY INFORMATION

Digibay Limited is a private company, limited by shares , registered in Scotland. 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.
Plant and machinery etc - 25% on reducing balance

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.

Hire purchase and leasing commitments
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.

Listed investments
Investments in listed shares are shown at fair value at the balance sheet date. Gains or Losses on the fair value of the listed investments are shown in the profit and loss account.

Digibay Limited (Registered number: SC267253)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 32,926
DEPRECIATION
At 1 May 2023 32,168
Charge for year 48
At 30 April 2024 32,216
NET BOOK VALUE
At 30 April 2024 710
At 30 April 2023 758

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 88,567 80,567

6. CURRENT ASSET INVESTMENTS
30.4.24 30.4.23
£    £   
Listed investments - 7,324

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 4,368 5,197
Taxation and social security 22,755 26,323
Other creditors 30,493 9,245
67,616 50,765

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 11,667 21,667

Digibay Limited (Registered number: SC267253)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. RESERVES
Fair
value
reserve
£   
At 1 May 2023 12,831
Profit & loss transfer (12,831 )

At 30 April 2024 -

11. RELATED PARTY DISCLOSURES

During the year the company charged Platinum Lettings (Scotland) Ltd £81,000 (2023 - £80,000) for the provision of management services. The company also borrowed money from Platinum Lettings (Scotland) Ltd with a balance owed of £25,174 as at 30 April 2024. Both companies have common directors and shareholders.