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Company registration number: 07231331
3B Digital Limited
Unaudited filleted financial statements
30 April 2024
3B Digital Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
3B Digital Limited
Directors and other information
Directors Mr A.L.P. Bremer
Mr J.H. Bremer
Company number 07231331
Registered office 1st Floor
64 Baker Street
London
W1U 7GB
Business address 14 Wimbledon Park Road
London
SW18 1LT
Accountants Redford & Co Limited
Chartered Accountants
1st Floor
64 Baker Street
London
W1U 7GB
3B Digital Limited
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 13,125 26,250
Tangible assets 6 14,108 15,732
_______ _______
27,233 41,982
Current assets
Debtors 7 704,692 523,937
Cash at bank and in hand 24,465 15,195
_______ _______
729,157 539,132
Creditors: amounts falling due
within one year 8 ( 357,029) ( 275,281)
_______ _______
Net current assets 372,128 263,851
_______ _______
Total assets less current liabilities 399,361 305,833
Creditors: amounts falling due
after more than one year 9 ( 62,504) ( 120,833)
_______ _______
Net assets 336,857 185,000
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 336,757 184,900
_______ _______
Shareholders funds 336,857 185,000
_______ _______
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.
Directors 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 directors acknowledge 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'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 January 2025 , and are signed on behalf of the board by:
Mr A.L.P. Bremer
Director
Company registration number: 07231331
3B Digital Limited
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. The address of the registered office is 1st Floor, 64 Baker Street, London, W1U 7GB.
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - over its estimated useful life of 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fittings fixtures and 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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Defined contribution plans
The pension costs charged in the financial statements represent the contribution payable by the company during the year.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 7 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 May 2023 and 30 April 2024 175,000 175,000
_______ _______
Amortisation
At 1 May 2023 148,750 148,750
Charge for the year 13,125 13,125
_______ _______
At 30 April 2024 161,875 161,875
_______ _______
Carrying amount
At 30 April 2024 13,125 13,125
_______ _______
At 30 April 2023 26,250 26,250
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 May 2023 78,403 78,403
Additions 3,079 3,079
_______ _______
At 30 April 2024 81,482 81,482
_______ _______
Depreciation
At 1 May 2023 62,671 62,671
Charge for the year 4,703 4,703
_______ _______
At 30 April 2024 67,374 67,374
_______ _______
Carrying amount
At 30 April 2024 14,108 14,108
_______ _______
At 30 April 2023 15,732 15,732
_______ _______
7. Debtors
2024 2023
£ £
Trade debtors 56,501 47,385
Other debtors 648,191 476,552
_______ _______
704,692 523,937
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 50,000 50,000
Trade creditors 10,907 18,195
Corporation tax 133,697 93,064
Social security and other taxes 142,209 93,469
Other creditors 20,216 20,553
_______ _______
357,029 275,281
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 62,504 120,833
_______ _______
10. Related party transactions
The company has loan accounts with its directors. The loan account balance for the first director at 30 April 2024 was £267,037 being monies owed by the company (2023 - £198,373 debtor). The loan account balance for the second director at 30 April 2024 was £219,144 being monies owed to the company (2023 - £159,111 debtor). The loan accounts are interest- free, unsecured and repayable upon demand.
11. Controlling party
The company was controlled by the directors who held the entire share capital of the company.