2023-06-012024-05-312024-05-31false10767987FOUNDDIGITAL DS 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FOUNDDIGITAL DS LIMITED

Registered Number
10767987
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

FOUNDDIGITAL DS LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

BATH, Robert Patrick

Registered Address

63/66 Hatton Garden
Fifth Floor, Suite 23
London
EC1N 8LE

Registered Number

10767987 (England and Wales)
FOUNDDIGITAL DS LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,4962,438
3,4962,438
Current assets
Debtors41,975,1931,099,504
Current asset investments837,595728,558
Cash at bank and on hand4,527,3133,481,021
7,340,1015,309,083
Creditors amounts falling due within one year5(899,185)(781,885)
Net current assets (liabilities)6,440,9164,527,198
Total assets less current liabilities6,444,4124,529,636
Net assets6,444,4124,529,636
Capital and reserves
Called up share capital11
Other reserves(13,280)(13,280)
Profit and loss account6,457,6914,542,915
Shareholders' funds6,444,4124,529,636
The financial statements were approved and authorised for issue by the Director on 25 March 2025, and are signed on its behalf by:
BATH, Robert Patrick
Director
Registered Company No. 10767987
FOUNDDIGITAL DS LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year75
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 June 236,242
Additions2,832
At 31 May 249,074
Depreciation and impairment
At 01 June 233,804
Charge for year1,774
At 31 May 245,578
Net book value
At 31 May 243,496
At 31 May 232,438
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables883,000998,304
Other debtors1,092,193101,200
Total1,975,1931,099,504
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables46,5325,510
Taxation and social security759,195602,049
Other creditors14,779174,326
Accrued liabilities and deferred income78,679-
Total899,185781,885
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.