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DIGITAL ARTS EUROPE LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Digital Arts Europe Limited is a private company, limited by shares, registered in England and Wales. The company's registered office can be found on the company information page. There is no principal place of business.
The financial statements are presented in sterling which is the functional currency of the company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The director has assessed the future cash flow requirements of the Company at the date when the financial statements were authorised for issue.
The Company has obtained a financial support letter from its parent company for at least 12 months from the date of approval of the financial statements. The letter confirms that the parent company will provide, where needed, the necessary financial support so that the Company can meet its obligations as they fall due. The director has satisfied himself that the parent company is able to provide this support for at least 12 months from the date the financial statements were authorised for issue.
As a result, the director believes the Company has adequate resources to enable it to continue as a going concern.
Due to the availability of parental support, the financial statements have been prepared on a going concern basis and the director does not consider there to be any material uncertainty regarding the Company’s ability to continue as a going concern.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors, creditors and loans from related parties.
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The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
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