Digital NRG Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08803937 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2019

for

Digital NRG Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

N Rogers

Mrs K J Rogers

REGISTERED OFFICE:

Suite 1

Liberty House

South Liberty Lane

Bristol

BS3 2ST

REGISTERED NUMBER:

08803937 (England and Wales)

ACCOUNTANTS:

Stanley Joseph Limited

Chartered Accountants

Suite 1

Liberty House

South Liberty Lane

Bristol

BS3 2ST

FIXED ASSETS

Property, plant and equipment

4

185,283

84,274

CURRENT ASSETS

Debtors

5

575,613

693,462

Cash at bank

1,339,233

976,125

1,914,846

1,669,587

CREDITORS

Amounts falling due within one year

6

759,969

354,263

NET CURRENT ASSETS

1,154,877

1,315,324

TOTAL ASSETS LESS CURRENT LIABILITIES

1,340,160

1,399,598

PROVISIONS FOR LIABILITIES

7

35,204

16,012

NET ASSETS

1,304,956

1,383,586

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

1,304,856

1,383,486

SHAREHOLDERS' FUNDS

1,304,956

1,383,586

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2020 and were signed on its behalf by:

N Rogers - Director

1.	STATUTORY INFORMATION

Digital NRG 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 represents the amounts receivable, excluding VAT and trade discounts, by the company for goods and

services provided during the year. All transactions arose in the United Kingdom.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2018 - 14 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2019

89,590

62,261

151,851

Additions

164,042

19,410

183,452

At 31 December 2019

253,632

81,671

335,303

DEPRECIATION

At 1 January 2019

41,725

25,852

67,577

Charge for year

63,393

19,050

82,443

At 31 December 2019

105,118

44,902

150,020

NET BOOK VALUE

At 31 December 2019

148,514

36,769

185,283

At 31 December 2018

47,865

36,409

84,274

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

315,915

251,048

Amounts owed by associates

121,693

3,622

Directors' current accounts

70,279

371,066

Tax

67,726

67,726

575,613

693,462

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Tax

(3,566

)

208,180

Social security and other taxes

199,583

(26,884

)

VAT

535,348

170,125

Credit card

25,994

1,500

Accrued expenses

2,610

1,342

759,969

354,263

7.	PROVISIONS FOR LIABILITIES

31.12.19

31.12.18

£

£

Deferred tax

35,204

16,012

Deferred

tax

£

Balance at 1 January 2019

16,012

Provided during year

19,192

Balance at 31 December 2019

35,204

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.19

31.12.18

value:

£

£

100

Ordinary shares

1

100

100

9.

RESERVES

Retained

earnings

£

At 1 January 2019

1,383,486

Deficit for the year

(74,630

)

Dividends

(4,000

)

At 31 December 2019

1,304,856

10.	RELATED PARTY DISCLOSURES

N Rogers

Director

2019

2018

Capital withdrawn

-

249,572

Capital introduced

300,787

-

Dividends paid

2,000

45,000

At the year end the director owed the company £70,279 (2018 - £371,066).

K Rogers

Director

2019

2018

Dividends paid

2,000

45,000

11.	ULTIMATE CONTROLLING PARTY