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Registered number: 03302844 DIGITAL PHONE COMPANY LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 APRIL 2025
DIGITAL PHONE COMPANY LIMITED REGISTERED NUMBER: 03302844 BALANCE SHEET AS AT 30 APRIL 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 28,367 |  | -
Tangible assets | 5 |  | 62,166 |  | 36,568
Investments | 6 |  | 40,192 |  | 640,192
|  |  | 130,725 |  | 676,760
Current assets |  |  |  |  |
Stocks |  | 136,262 |  | 143,432 |
Debtors: amounts falling due within one year | 7 | 312,118 |  | 368,334 |
Cash at bank and in hand |  | 1,252,425 |  | 671,489 |
|  | 1,700,805 |  | 1,183,255 |
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 8 | (441,418) |  | (457,186) |
Net current assets |  |  | 1,259,387 |  | 726,069
Total assets less current liabilities |  |  | 1,390,112 |  | 1,402,829
Provisions for liabilities |  |  |  |  |
Deferred tax | 10 | (18,134) |  | (9,094) |
Other provisions | 11 | (14,000) |  | (19,000) |
|  |  | (32,134) |  | (28,094)
Net assets |  |  | 1,357,978 |  | 1,374,735
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 1,357,878 |  | 1,374,635
|  |  | 1,357,978 |  | 1,374,735
Page 1
DIGITAL PHONE COMPANY LIMITED REGISTERED NUMBER: 03302844 BALANCE SHEET (CONTINUED) AS AT 30 APRIL 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 January 2026.
................................................ P D Rider
Director
The notes on pages 3 to 12 form part of these financial statements. Page 2
DIGITAL PHONE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
1. | General information
Digital Phone Company Limited is a private company limited by shares incorporated in the United Kingdom with a company registration number of 03302844. The registered office is Connectivity House, Southtown Road, Great Yarmouth, Norfolk, NR31 0JJ. The Company's principal activity is that of retailing and sale of telecommunications devices and associated equipment and services. The financial statements are rounded to the nearest £. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Going concern
The company has continued to trade profitably post year end. The directors consider the company will continue to trade for the foreseeable future at these enhanced levels. The directors have considered a period of 12 months from the date of approval of the financial statements and on the basis of the post year end results have prepared the accounts on the going concern basis.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Page 3
DIGITAL PHONE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Operating leases: the Company as lessor
Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.
| 2.7 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.8 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 4
DIGITAL PHONE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.9 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.10 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.11 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows:
|  |  |  | Computer software | - | 3 | years
Page 5
DIGITAL PHONE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.12 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Other fixed assets | - | 11% - 33% per annum straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.13 | Valuation of investments
Unlisted Investments, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
| 2.14 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.15 | Debtors
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.
| 2.16 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.17 | Creditors
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. Page 6
DIGITAL PHONE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.18 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.19 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
| 2.20 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 32 (2024 - 30).
Page 7
DIGITAL PHONE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
4. | Intangible assets
|  | Computer software
|  | £
| Cost |
| Additions | 37,560
| At 30 April 2025 | 37,560
| Amortisation |
| Charge for the year on owned assets | 9,193
| At 30 April 2025 | 9,193
| Net book value |
| At 30 April 2025 | 28,367
| At 30 April 2024 | -
Page 8
DIGITAL PHONE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
5. | Tangible fixed assets
|  | Other fixed assets
|  | £
| Cost |
| At 1 May 2024 | 97,135
| Additions | 37,859
| Disposals | (26,367)
| At 30 April 2025 | 108,627
| Depreciation |
| At 1 May 2024 | 60,567
| Charge for the year on owned assets | 12,261
| Disposals | (26,367)
| At 30 April 2025 | 46,461
| Net book value |
| At 30 April 2025 | 62,166
| At 30 April 2024 | 36,568
Page 9
DIGITAL PHONE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
6. | Fixed asset investments
|  | Unlisted investments | Loans | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 May 2024 | 381,719 | 600,000 | 981,719
| Disposals | - | (600,000) | (600,000)
| At 30 April 2025 | 381,719 | - | 381,719
| Impairment |  |  |
| At 1 May 2024 | 341,527 | - | 341,527
| At 30 April 2025 | 341,527 | - | 341,527
| Net book value |  |  |
| At 30 April 2025 | 40,192 | - | 40,192
| At 30 April 2024 | 40,192 | 600,000 | 640,192
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 229 | 1,845
| Amounts owed by group undertakings | 10,805 | 9,517
| Other debtors | 3,143 | 4,955
| Prepayments and accrued income | 297,941 | 352,017
|  | 312,118 | 368,334
Page 10
DIGITAL PHONE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 100,299 | 91,340
| Amounts owed to group undertakings | 40,534 | 40,534
| Corporation tax | 80,653 | 105,255
| Other taxation and social security | 148,613 | 145,805
| Other creditors | 71,319 | 74,252
|  | 441,418 | 457,186
9. | Creditors: Amounts falling due after more than one year
| Amounts owed to the parent company of £nil (2019: £105,092) are secured over the investment property held by the Company.
10. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | 9,094
| Charged to profit or loss | 9,040
| At end of year | 18,134
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | 20,812 | 10,983
| Capital losses carried forward | (1,807) | (1,806)
| Pension surplus | (871) | (83)
|  | 18,134 | 9,094
Page 11
DIGITAL PHONE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
11. | Provisions
|  | Dilapidations
|  | £
| At 1 May 2024 | 19,000
| Charged to profit or loss | (5,000)
| At 30 April 2025 | 14,000
12. | Pension commitments
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £258,918 (2024: £220,849). Contributions totalling £7,112 (2024: £333) are included within creditors.
13. | Commitments under operating leases
| At 30 April 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 69,708 | 40,667
| Later than 1 year and not later than 5 years | 43,208 | 96,500
| Later than 5 years | - | 14,167
|  | 112,916 | 151,334
14. | Related party transactions
| During the year the Company paid rent of £16,250 (2024: £25,000) to Digital Phone Company Pension Fund, the personal pension scheme of the directors. The amount due by the Company to the directors at the year end amounted to £64 (2024: £64).
15. | Controlling party
The immediate and ultimate parent company is Digital Phone Holdings Limited which is incorporated and registered in England and Wales. A copy of their financial statements can be obtained from Companies House.
Page 12