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Registration number: 13073037

Digital Goat Limited

Director's Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Digital Goat Limited

(Registration number: 13073037)

Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

15,122

19,549

Current assets

 

Debtors

4

18,977

10,282

Cash at bank and in hand

 

65,780

58,927

 

84,757

69,209

Creditors: Amounts falling due within one year

5

(42,918)

(33,876)

Net current assets

 

41,839

35,333

Total assets less current liabilities

 

56,961

54,882

Creditors: Amounts falling due after more than one year

5

-

(15,381)

Provisions for liabilities

(3,780)

(3,813)

Net assets

 

53,181

35,688

Capital and reserves

 

Called up share capital

100

100

Retained earnings

53,081

35,588

Shareholders' funds

 

53,181

35,688

For the financial year ending 31 December 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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 16 April 2025
 

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

R J Taylor

Director

 

Digital Goat Limited

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

1

Accounting policies

Statutory information

Digital Goat Limited is a private company, limited by shares, domiciled in England and Wales, company number 13073037. The registered office is at 13 Coldwell Lane, Hallam, Sheffield, S10 5TJ.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

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.

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.

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.

 

Digital Goat Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

1

Accounting policies (continued)

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

20% Straight line

Motor Vehicles

25% Reducing balance

Plant and machinery

25% Straight line

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Digital Goat Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

3

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

2,400

4,463

28,000

34,863

Additions

-

958

-

958

At 31 December 2024

2,400

5,421

28,000

35,821

Depreciation

At 1 January 2024

-

2,627

12,687

15,314

Charge for the year

600

957

3,828

5,385

At 31 December 2024

600

3,584

16,515

20,699

Carrying amount

At 31 December 2024

1,800

1,837

11,485

15,122

At 31 December 2023

2,400

1,836

15,313

19,549

4

Debtors

Current

2024
£

2023
£

Trade debtors

15,960

9,108

Prepayments

1,276

1,174

Other debtors

1,741

-

 

18,977

10,282

 

Digital Goat Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5

Creditors

2024
£

2023
£

Due within one year

Hire purchase contracts

15,382

2,889

Trade creditors

209

95

Taxation and social security

25,952

26,570

Accruals and deferred income

1,375

1,375

Other creditors

-

2,947

42,918

33,876

2024
£

2023
£

Due after one year

Hire purchase contracts

-

15,381

6

Related party transactions

During the year the directors had a loan account with the company. At the balance sheet date the amount due to the company was £1,741 (2023: £2,947 due from the company). The loan is interest free.