FIGA Digital Group Ltd - Limited company accounts 20.1

REGISTERED NUMBER: 10096290 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 April 2020

for

FIGA Digital Group Ltd

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

J Hale

SECRETARY:

REGISTERED OFFICE:

23 Lodge Hill Road

Farenham

Surrey

GU10 3QW

REGISTERED NUMBER:

10096290 (England and Wales)

ACCOUNTANTS:

Tax Diagnostics & Co

Accountants

Trident Business Centre

89 Bickersteth Road

London

SW17 9SH

The director presents his report with the financial statements of the company for the year ended 30 April 2020.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Digital Technology

DIRECTOR

J Hale held office during the whole of the period from 1 May 2019 to the date of this report.

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:

J Hale - Director

11 November 2020

TURNOVER

84,211

84,208

Cost of sales

45,216

46,448

GROSS PROFIT

38,995

37,760

Administrative expenses

20,935

19,173

OPERATING PROFIT and

PROFIT BEFORE TAXATION

18,060

18,587

Tax on profit

-

PROFIT FOR THE FINANCIAL YEAR

18,060

18,587

FIXED ASSETS

Intangible assets

4

100

Tangible assets

5

-

100

CURRENT ASSETS

Debtors

6

14,215

2,593

Cash at bank

1,414

1,945

15,629

4,538

CREDITORS

Amounts falling due within one year

7

87,204

94,173

NET CURRENT LIABILITIES

(71,575

)

(89,635

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(71,475

)

(89,535

)

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

(72,475

)

(90,535

)

SHAREHOLDERS' FUNDS

(71,475

)

(89,535

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 11 November 2020 and were signed by:

J Hale - Director

1.	STATUTORY INFORMATION

FIGA Digital Group Ltd 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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

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

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2019

and 30 April 2020

100

NET BOOK VALUE

At 30 April 2020

100

At 30 April 2019

100

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2019

and 30 April 2020

215

DEPRECIATION

At 1 May 2019

and 30 April 2020

215

NET BOOK VALUE

At 30 April 2020

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

Trade debtors

11,541

500

Other debtors

2,674

2,093

14,215

2,593

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

Trade creditors

-

125

Other creditors

87,204

94,048

87,204

94,173