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Registration number: 04062756

Digital Plus Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Digital Plus Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Digital Plus Limited

(Registration number: 04062756)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

840,282

900,686

Current assets

 

Stocks

7

56,458

46,263

Debtors

8

394,742

364,230

Cash at bank and in hand

 

22,871

35,599

 

474,071

446,092

Creditors: Amounts falling due within one year

9

(606,962)

(598,051)

Net current liabilities

 

(132,891)

(151,959)

Total assets less current liabilities

 

707,391

748,727

Creditors: Amounts falling due after more than one year

9

(394,496)

(487,852)

Provisions for liabilities

(42,925)

(41,888)

Net assets

 

269,970

218,987

Capital and reserves

 

Called up share capital

10

1,100

1,100

Revaluation reserve

144,730

144,730

Retained earnings

124,140

73,157

Shareholders' funds

 

269,970

218,987

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Digital Plus Limited

(Registration number: 04062756)
Balance Sheet as at 31 August 2024

Approved and authorised by the Board on 11 March 2025 and signed on its behalf by:
 

Mr O S Russell
Director

   
     
 

Digital Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Eastside House
Wyther Lane
Kirkstall
Leeds
West Yorkshire
LS5 3BT

These financial statements were authorised for issue by the Board on 11 March 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have prepared the financial statements on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Digital Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

2% straight line

Plant & machinery

20% reducing balance

Motor vehicles

25% reducing balance

Fixtures & Filltings

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website, intellectual property and goodwill

25% straight line

 

Digital Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2023 - 19).

 

Digital Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

61,128

75,319

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

9,200

9,200

At 31 August 2024

9,200

9,200

Amortisation

At 1 September 2023

9,200

9,200

At 31 August 2024

9,200

9,200

Carrying amount

At 31 August 2024

-

-

 

Digital Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

800,000

177,548

148,894

536,956

1,663,398

Additions

-

723

-

1,444

2,167

Disposals

-

(43,866)

-

(1,277)

(45,143)

At 31 August 2024

800,000

134,405

148,894

537,123

1,620,422

Depreciation

At 1 September 2023

119,780

151,509

48,787

442,636

762,712

Charge for the year

11,984

5,003

25,027

19,115

61,129

Eliminated on disposal

-

(42,613)

-

(1,088)

(43,701)

At 31 August 2024

131,764

113,899

73,814

460,663

780,140

Carrying amount

At 31 August 2024

668,236

20,506

75,080

76,460

840,282

At 31 August 2023

680,220

26,039

100,107

94,320

900,686

Included within the net book value of land and buildings above is £668,236 (2023 - £680,220) in respect of freehold land and buildings.
 

 

Digital Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Stocks

2024
£

2023
£

Other inventories

56,458

46,263

8

Debtors

Current

2024
£

2023
£

Trade debtors

281,156

282,960

Prepayments

34,902

38,289

Other debtors

78,684

42,981

 

394,742

364,230

 

Digital Plus Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

264,789

308,254

Trade creditors

 

215,074

198,105

Taxation and social security

 

119,654

84,549

Accruals and deferred income

 

3,874

5,154

Other creditors

 

3,571

1,989

 

606,962

598,051

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

394,496

487,852

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

550

550

550

550

Ordinary A shares of £1 each

438

438

438

438

Ordinary B shares of £1 each

110

110

110

110

Ordinary C shares of £1 each

1

1

1

1

Ordinary D shares of £1 each

1

1

1

1

1,100

1,100

1,100

1,100