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Registration number: 05012752

Affinity Digital (Technology) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Affinity Digital (Technology) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Affinity Digital (Technology) Limited

Company Information

Directors

Mr Jonathan Duval

Mrs Patricia Sharon Duval

Registered office

Woodbine Farm Bus Centre
Truro Business Park
Truro
Cornwall
TR3 6BW

Accountants

Martin Fisher & Co Ltd
Chartered Certified Accountants
Woodbine Farm Bus Centre
Truro Business Park
Truro
Cornwall
TR3 6BW

 

Affinity Digital (Technology) Limited

(Registration number: 05012752)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

40,453

49,655

Current assets

 

Debtors

5

330,471

456,861

Cash at bank and in hand

 

643,112

555,621

 

973,583

1,012,482

Creditors: Amounts falling due within one year

6

(325,276)

(381,986)

Net current assets

 

648,307

630,496

Net assets

 

688,760

680,151

Capital and reserves

 

Called up share capital

7

110

110

Retained earnings

688,650

680,041

Shareholders' funds

 

688,760

680,151

For the financial year ending 31 July 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.

Approved and authorised by the Board on 29 March 2025 and signed on its behalf by:
 

.........................................
Mr Jonathan Duval
Director

 

Affinity Digital (Technology) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
Woodbine Farm Bus Centre
Truro Business Park
Truro
Cornwall
TR3 6BW

These financial statements were authorised for issue by the Board on 29 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).

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.

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.

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.

 

Affinity Digital (Technology) Limited

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

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

Fixtures, fittings tools and equipment

33% reducing balance

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Affinity Digital (Technology) Limited

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 18 (2023 - 17).

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

-

120,680

120,680

Additions

12,847

10,761

23,608

At 31 July 2024

12,847

131,441

144,288

Depreciation

At 1 August 2023

5,139

78,733

83,872

Charge for the year

2,569

17,394

19,963

At 31 July 2024

7,708

96,127

103,835

Carrying amount

At 31 July 2024

5,139

35,314

40,453

At 31 July 2023

7,708

41,947

49,655

Included within the net book value of land and buildings above is £5,139 (2023 - £7,708) in respect of freehold land and buildings.
 

5

Debtors

 

Affinity Digital (Technology) Limited

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

Current

2024
£

2023
£

Trade debtors

139,810

267,717

Other debtors

190,661

189,144

 

330,471

456,861

 

Affinity Digital (Technology) Limited

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

103,512

70,674

Taxation and social security

96,225

209,844

Accruals and deferred income

18,804

27,620

Other creditors

106,735

73,848

325,276

381,986

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

70

70

70

70

A Shares of £1 each

20

20

20

20

B Shares of £1 each

20

20

20

20

 

110

110

110

110

8

Related party transactions

Key management personnel

Mr J Duval & Mrs P Duval (directors).

Summary of transactions with key management

Director's loan accounts.
 During the year the loans were interest free and repayable on demand of the Company. At the balance sheet date the following amounts were due from the directors: Mr J Duval £72,617 (2023: £70,488), Mrs P Duval £68,045 (2023: £68,657).
 

 

Affinity Digital (Technology) Limited

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

Transactions with directors

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Mr Jonathan Duval

Director's loan account

70,488

72,617

(70,488)

72,617

         
       

Mrs Patricia Sharon Duval

Director's loan account

68,657

68,045

(68,657)

68,045

         
       

 

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Mr Jonathan Duval

Director's loan account

74,546

70,488

(74,546)

70,488

         
       

Mrs Patricia Sharon Duval

Director's loan account

72,187

68,657

(72,187)

68,657