DATAMATICA LIMITED - Filleted accounts

DATAMATICA LIMITED - Filleted accounts

DATAMATICA LIMITED - Company Information

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Registered number
07140425
DATAMATICA LIMITED
Unaudited Filleted Accounts
31 January 2019
DATAMATICA LIMITED
Registered number: 07140425
Balance Sheet
as at 31 January 2019
Notes 2019 2018
£ £
Fixed assets
Tangible assets 2 64,214 76,643
Current assets
Stocks 18,000 57,500
Debtors 3 35,172 39,869
Cash at bank and in hand 370,191 184,049
423,363 281,418
Creditors: amounts falling due within one year 4 (317,884) (218,542)
Net current assets 105,479 62,876
Total assets less current liabilities 169,693 139,519
Creditors: amounts falling due after more than one year 5 (86,328) (84,120)
Net assets 83,365 55,399
Capital and reserves
Called up share capital 42 42
Profit and loss account 83,323 55,357
Shareholders' funds 83,365 55,399
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Sadanandan
Director
Approved by the board on 23 September 2019
DATAMATICA LIMITED
Notes to the Accounts
for the year ended 31 January 2019
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office Equipment 33.3% reducing balance
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2018 188,270
Additions 19,672
At 31 January 2019 207,942
Depreciation
At 1 February 2018 111,627
Charge for the year 32,101
At 31 January 2019 143,728
Net book value
At 31 January 2019 64,214
At 31 January 2018 76,643
3 Debtors 2019 2018
£ £
s419 Tax recoverable - 8,965
Vat debtor 1,268 -
Other debtors 33,904 30,904
35,172 39,869
4 Creditors: amounts falling due within one year 2019 2018
£ £
Fees charged in advance 293,945 196,777
Trade creditors 14,680 -
Corporation tax 6,628 -
Other taxes and social security costs - 20,550
Other creditors 2,631 1,215
317,884 218,542
5 Creditors: amounts falling due after one year 2019 2018
£ £
Fees charged in advance 86,328 84,120
6 Other information
DATAMATICA LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
4 Cordwallis Street
Maidenhead
Berks
SL6 7BE
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