Digiwave Europe Limited - Limited company accounts 18.2

REGISTERED NUMBER: 06454013 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Digiwave Europe Limited

Page

Company Information

1

Report of the Directors

2

Report of the Accountants

3

Income Statement

4

Statement of Financial Position

5

Notes to the Financial Statements

6

DIRECTORS:

Landes Limited

S H Landes

REGISTERED OFFICE:

3rd Floor, Fairgate House

78 New Oxford Street

London

WC1A 1HB

REGISTERED NUMBER:

06454013 (England and Wales)

ACCOUNTANTS:

Hawksford UK Services Limited

3rd Floor, Fairgate House

78 New Oxford Street

London

WC1A 1HB

The directors present their report with the financial statements of the company for the year ended 31 December 2018.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2018 to the date of this

report.

Landes Limited

S H Landes

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with

applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors

have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not

approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the

company and of the profit or loss of the company for that period. In preparing these financial statements, the directors

are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

S H Landes - Director

20 September 2019

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 December 2018 set out on pages four to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Hawksford UK Services Limited

3rd Floor, Fairgate House

78 New Oxford Street

London

WC1A 1HB

20 September 2019

TURNOVER

500

1,000

Administrative expenses

(1,000

)

(1,500

)

(500

)

(500

)

Other operating income

1

-

OPERATING LOSS and

LOSS BEFORE TAXATION

(499

)

(500

)

Tax on loss

-

90

LOSS FOR THE FINANCIAL YEAR

(499

)

(410

)

CURRENT ASSETS

Debtors

3

90

290

Cash at bank and in hand

2,684

2,384

2,774

2,674

CREDITORS

Amounts falling due within one year

4

(2,300

)

(1,701

)

NET CURRENT ASSETS

474

973

TOTAL ASSETS LESS CURRENT LIABILITIES

474

973

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

473

972

SHAREHOLDERS' FUNDS

474

973

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 September 2019 and were signed on its behalf by:

S H Landes - Director

1.	STATUTORY INFORMATION

Digiwave Europe Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable

is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of

comprehensive income because of group loss relieve against company profits . The Company's liability for

current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the

reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the

financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax

liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally

recognised for all deductible timing differences to the extent that it is probable that taxable profits will be

available against which those deductible temporary differences can be utilised. The carrying amount of deferred

tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable

that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which

the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or

substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets

reflects the tax consequences that would follow from the manner in which the Company expects, at the end of

the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are

recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is

also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost

using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of

discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and

doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the

effective interest method unless the effect of discounting would be immaterial, in which case they are stated at

cost.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Other debtors

90

290

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

600

-

Other creditors

1,700

1,701

2,300

1,701

5.	RELATED PARTY DISCLOSURES

6.	ULTIMATE CONTROLLING PARTY