Dragon Digital Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11516408 (England and Wales)

Dragon Digital Solutions Limited

Unaudited Financial Statements

for the Year Ended 31 August 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R P Harrington

REGISTERED OFFICE:

Unit 7 & 8

Stadium Close

Penarth Road

Cardiff

CF11 8TS

REGISTERED NUMBER:

11516408 (England and Wales)

ACCOUNTANTS:

O'Brien & Partners

Chartered Accountants

Highdale House

7 Centre Court

Treforest Industrial Estate

Pontypridd

Rhondda Cynon Taff

CF37 5YR

FIXED ASSETS

Tangible assets

4

93,414

103,500

Investments

5

110,000

-

203,414

103,500

CURRENT ASSETS

Debtors

6

67,233

36,884

Cash at bank and in hand

23,932

100

91,165

36,984

CREDITORS

Amounts falling due within one year

7

131,330

132,632

NET CURRENT LIABILITIES

(40,165

)

(95,648

)

TOTAL ASSETS LESS CURRENT LIABILITIES

163,249

7,852

CREDITORS

Amounts falling due after more than one year

8

107,000

-

NET ASSETS

56,249

7,852

CAPITAL AND RESERVES

Called up share capital

166

100

Share premium

34,967

-

Retained earnings

21,116

7,752

56,249

7,852

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 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 director and authorised for issue on 3 March 2021 and were signed by:

R P Harrington - Director

1.	STATUTORY INFORMATION

Dragon Digital Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 September 2019

108,000

Additions

17,242

At 31 August 2020

125,242

DEPRECIATION

At 1 September 2019

4,500

Charge for year

27,328

At 31 August 2020

31,828

NET BOOK VALUE

At 31 August 2020

93,414

At 31 August 2019

103,500

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

110,000

At 31 August 2020

110,000

NET BOOK VALUE

At 31 August 2020

110,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Trade debtors

-

17,984

Other debtors

67,233

18,900

67,233

36,884

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Bank loans and overdrafts

30,190

-

Trade creditors

38,119

131,382

Taxation and social security

41

-

Other creditors

62,980

1,250

131,330

132,632

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.20

31.8.19

£

£

Bank loans

67,000

-

Other creditors

40,000

-

107,000

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.20

31.8.19

£

£

Bank loans

97,190

-