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Company registration number: 08025435
Digital Change Consulting Ltd
(formerly known as Sarah Dicker Ltd)
Unaudited filleted financial statements
30 April 2024
Digital Change Consulting Ltd
Contents
Statement of financial position
Notes to the financial statements
Digital Change Consulting Ltd
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 13,267 1,129
_______ _______
13,267 1,129
Current assets
Debtors 7 64,071 71,501
Cash at bank and in hand 6,995 40,620
_______ _______
71,066 112,121
Creditors: amounts falling due
within one year 8 ( 34,086) ( 29,510)
_______ _______
Net current assets 36,980 82,611
_______ _______
Total assets less current liabilities 50,247 83,740
Creditors: amounts falling due
after more than one year 9 ( 32,870) ( 38,426)
Provisions for liabilities 10 ( 2,521) -
_______ _______
Net assets 14,856 45,314
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 14,855 45,313
_______ _______
Shareholders funds 14,856 45,314
_______ _______
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.
Director's responsibilities:
- The members have 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 their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
Miss Sarah Clare Louise Dicker
Director
Company registration number: 08025435
Digital Change Consulting Ltd
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Digital Change Consulting Ltd, 51 Dupont Road, London, SW20 8EH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and office equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tax on profit
Major components of tax expense
2024 2023
£ £
Current tax:
UK current tax expense 20,491 13,552
_______ _______
Deferred tax:
Origination and reversal of timing differences 2,521 -
_______ _______
Tax on profit 23,012 13,552
_______ _______
6. Tangible assets
Fixtures, fittings and office equipment Total
£ £
Cost
At 1 May 2023 2,029 2,029
Additions 16,497 16,497
_______ _______
At 30 April 2024 18,526 18,526
_______ _______
Depreciation
At 1 May 2023 900 900
Charge for the year 4,359 4,359
_______ _______
At 30 April 2024 5,259 5,259
_______ _______
Carrying amount
At 30 April 2024 13,267 13,267
_______ _______
At 30 April 2023 1,129 1,129
_______ _______
7. Debtors
2024 2023
£ £
Trade debtors - 21,420
Director's loan account 32,275 32,460
Other debtors 10,796 10,796
Prepayments and accrued income 21,000 6,825
_______ _______
64,071 71,501
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 5,556 5,555
Trade creditors - 150
Corporation tax 20,491 13,552
Social security and other taxes 5,483 9,083
Accruals and deferred income 2,556 1,170
_______ _______
34,086 29,510
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 32,870 38,426
_______ _______
Included within creditors: amounts falling due after more than one year is an amount of £10,648 (2023: £16,204) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
10. Provisions
Deferred tax (note 11) Total
£ £
At 1 May 2023 - -
Additions 2,521 2,521
_______ _______
At 30 April 2024 2,521 2,521
_______ _______
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note 10) 2,521 -
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances 2,521 -
_______ _______
12. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Miss Sarah Clare Louise Dicker 32,460 151,797 ( 151,982) 32,275
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Miss Sarah Clare Louise Dicker 32,273 123,561 ( 123,374) 32,460
_______ _______ _______ _______
13. Related party transactions
Miss S Dicker is considered to be a related party to Digital Change Consulting Ltd by virtue of her directorship of and shareholding in the company.As at 30 April 2024, Miss Dicker owed the company the sum of £32,275 (2023: £32,460).The loan is unsecured and repayable on demand. Interest was charged at the official rate.