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Registration number: 09457362

Digital Design Labs Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Digital Design Labs Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

 

Digital Design Labs Limited

Company Information

Director

Mr Colin Peter Jelfs

Registered office

Waterside Court Falmouth Road
Penryn
Cornwall
TR10 8AW

Accountants

GW&Co. Ltd
Chartered Certified AccountantsWaterside Court
Falmouth Road
Penryn
United Kingdom
TR10 8AW

 

Digital Design Labs Limited

Director's Report for the Year Ended 30 June 2024

The director presents his report and the financial statements for the year ended 30 June 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Colin Peter Jelfs

Mr Michael Alan Hall (ceased 1 September 2023)

Principal activity

The principal activity of the company is Business and domestic software development

Small companies provision statement

This report has 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.

Approved and authorised by the director on 27 March 2025
 

.........................................
Mr Colin Peter Jelfs
Director

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Digital Design Labs Limited
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Digital Design Labs Limited for the year ended 30 June 2024 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Digital Design Labs Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Digital Design Labs Limited and state those matters that we have agreed to state to the Board of Directors of Digital Design Labs Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Digital Design Labs Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Digital Design Labs Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Digital Design Labs Limited. You consider that Digital Design Labs Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Digital Design Labs Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

GW&Co. Ltd
Chartered Certified Accountants
Waterside Court
Falmouth Road
Penryn
United Kingdom
TR10 8AW

28 March 2025

 

Digital Design Labs Limited

Profit and Loss Account for the Year Ended 30 June 2024

Note

2024
£

2023
£

Turnover

 

-

96,664

Cost of sales

 

(629)

(4,009)

Gross (loss)/profit

 

(629)

92,655

Administrative expenses

 

(1,950)

(12,714)

Operating (loss)/profit

 

(2,579)

79,941

(Loss)/profit before tax

4

(2,579)

79,941

Tax on (loss)/profit

 

-

(15,740)

(Loss)/profit for the financial year

 

(2,579)

64,201

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Digital Design Labs Limited

Statement of Comprehensive Income for the Year Ended 30 June 2024

2024
£

2023
£

(Loss)/profit for the year

(2,579)

64,201

Total comprehensive income for the year

(2,579)

64,201

 

Digital Design Labs Limited

(Registration number: 09457362)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

208

486

Other financial assets

6

54,020

54,020

 

54,228

54,506

Current assets

 

Debtors

7

21,219

20,425

Cash at bank and in hand

 

3,807

24,969

 

25,026

45,394

Creditors: Amounts falling due within one year

8

(945)

(19,013)

Net current assets

 

24,081

26,381

Net assets

 

78,309

80,887

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

78,209

80,787

Shareholders' funds

 

78,309

80,887

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 27 March 2025
 

.........................................
Mr Colin Peter Jelfs
Director

 

Digital Design Labs Limited

Statement of Changes in Equity for the Year Ended 30 June 2024

Share capital
£

Retained earnings
£

Total
£

At 1 July 2023

100

80,788

80,888

Loss for the year

-

(2,579)

(2,579)

At 30 June 2024

100

78,209

78,309

Share capital
£

Retained earnings
£

Total
£

At 1 July 2022

100

16,586

16,686

Profit for the year

-

64,201

64,201

At 30 June 2023

100

80,787

80,887

 

Digital Design Labs Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Waterside Court Falmouth Road
Penryn
Cornwall
TR10 8AW
United Kingdom

These financial statements were authorised for issue by the director on 27 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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 financial statements have been prepared on a going concern basis, based on the ongoing support of the directors.

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 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.

 

Digital Design Labs Limited

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

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.

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

Office equipment

33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Digital Design Labs Limited

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

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 the director) during the year, was 0 (2023 - 0).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

278

278

 

Digital Design Labs Limited

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

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 July 2023

5,283

5,283

At 30 June 2024

5,283

5,283

Depreciation

At 1 July 2023

4,797

4,797

Charge for the year

278

278

At 30 June 2024

5,075

5,075

Carrying amount

At 30 June 2024

208

208

At 30 June 2023

486

486

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2023

54,020

54,020

At 30 June 2024

54,020

54,020

Impairment

Carrying amount

At 30 June 2024

54,020

54,020

 

Digital Design Labs Limited

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

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

2,236

2,136

Amounts owed by related parties

10

18,868

18,218

Prepayments

 

-

71

Other debtors

 

115

-

   

21,219

20,425

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

570

Taxation and social security

-

16,829

Accruals and deferred income

945

900

Other creditors

-

714

945

19,013

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

10

Related party transactions

As at 30 June 2024 the company is owed an inter-company loan by RPGG Media Ltd amounting to £18,868 (2023:£18,218), it has no formal terms, is interest free and payable on demand.