Focus DGI Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07823661 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Focus DGI Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D G Davis

Mrs J Davis

K Dunham

Mrs S Dunham

F Davis

REGISTERED OFFICE:

Axiom House

Travellers Close

Welham Green

Hertfordshire

AL9 7JL

REGISTERED NUMBER:

07823661 (England and Wales)

ACCOUNTANTS:

Pace Accountants

Noble House

Eaton Road

Hemel Hempstead

Hertfordshire

HP2 7UB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

530,795

480,258

Investments

6

75,000

75,000

605,795

555,258

CURRENT ASSETS

Debtors

7

653,801

726,315

Investments

8

1,614,829

1,614,829

Cash at bank

2,262,554

1,175,890

4,531,184

3,517,034

CREDITORS

Amounts falling due within one year

9

926,740

590,838

NET CURRENT ASSETS

3,604,444

2,926,196

TOTAL ASSETS LESS CURRENT LIABILITIES

4,210,239

3,481,454

CREDITORS

Amounts falling due after more than one year

10

(116,924

)

(191,620

)

PROVISIONS FOR LIABILITIES

(77,115

)

(66,778

)

NET ASSETS

4,016,200

3,223,056

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

4,015,200

3,222,056

SHAREHOLDERS' FUNDS

4,016,200

3,223,056

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 20 October 2020 and were signed on its behalf by:

K Dunham - Director

1.	STATUTORY INFORMATION

Focus DGI 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 balance sheet date.

Deferred tax

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

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 12 (2019 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

600,000

AMORTISATION

At 1 April 2019

and 31 March 2020

600,000

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2019

927,004

100,967

41,198

1,069,169

Additions

229,183

15,690

-

244,873

Disposals

-

(9,802

)

-

(9,802

)

At 31 March 2020

1,156,187

106,855

41,198

1,304,240

DEPRECIATION

At 1 April 2019

509,133

54,768

25,010

588,911

Charge for year

172,491

14,697

4,047

191,235

Eliminated on disposal

-

(6,701

)

-

(6,701

)

At 31 March 2020

681,624

62,764

29,057

773,445

NET BOOK VALUE

At 31 March 2020

474,563

44,091

12,141

530,795

At 31 March 2019

417,871

46,199

16,188

480,258

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2019

386,055

19,568

405,623

Reclassification/transfer

-

(19,568

)

(19,568

)

At 31 March 2020

386,055

-

386,055

DEPRECIATION

At 1 April 2019

121,965

11,313

133,278

Charge for year

77,211

-

77,211

Reclassification/transfer

-

(11,313

)

(11,313

)

At 31 March 2020

199,176

-

199,176

NET BOOK VALUE

At 31 March 2020

186,879

-

186,879

At 31 March 2019

264,090

8,255

272,345

6.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.3.20

31.3.19

£

£

Capital investment in partnership

75,000

75,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

255,410

240,381

Amounts owed by group undertakings

378,800

441,140

Prepayments

19,591

44,794

653,801

726,315

8.	CURRENT ASSET INVESTMENTS

31.3.20

31.3.19

£

£

Invested in Group Undertaking

1,614,829

1,614,829

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

74,696

91,814

Trade creditors

571,680

325,827

Tax

162,638

88,296

Social security and other taxes

12,640

17,235

VAT

48,503

42,356

Other creditors

791

1,158

Directors' loan accounts

-

7,831

Accrued expenses

55,792

16,321

926,740

590,838

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

116,924

191,620

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019:

31.3.20

31.3.19

£

£

F Davis

Balance outstanding at start of year

-

-

Amounts advanced

44,000

-

Amounts repaid

(44,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £8,169 (2019 - £9,831) were paid to the directors .

Loans owed to Directors at the year end amounted to £0 (2019: £7,830)

Aggregate transactions with related parties amounted to £1,187,062 (2019:£649,438) . The balances outstanding at the year end show in the interbusiness account and on the relevant ledgers and amounted to £39,043 (2019:£130,930 )

The company is a corporate partner. The amount of fixed capital and current account investment at the year end amounted to £1,689,829 (2019: £1,689,829).