DigiDoe Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11944257 (England and Wales)

Financial Statements for the Year Ended 30th September 2022

for

DigiDoe Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

P Guzminov

M Kitten

C Philippe

A Slavin

REGISTERED OFFICE:

167 Turners Hill

Cheshunt

Waltham Cross

EN8 9BH

REGISTERED NUMBER:

11944257 (England and Wales)

AUDITORS:

Thickbroom Coventry

Chartered Accountants

and Statutory Auditors

147a High Street

Waltham Cross

Hertfordshire

EN8 7AP

FIXED ASSETS

Intangible assets

4

728,971

169,886

Tangible assets

5

10,275

10,540

739,246

180,426

CURRENT ASSETS

Debtors

6

180,836

19,292

Cash at bank

569,495

164,443

750,331

183,735

CREDITORS

Amounts falling due within one year

7

200,065

51,308

NET CURRENT ASSETS

550,266

132,427

TOTAL ASSETS LESS CURRENT LIABILITIES

1,289,512

312,853

CAPITAL AND RESERVES

Called up share capital

8

11,677

10,185

Share premium

1,442,044

399,815

Retained earnings

(164,209

)

(97,147

)

SHAREHOLDERS' FUNDS

1,289,512

312,853

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th December 2022 and were signed on its behalf by:

P Guzminov - Director

1.	STATUTORY INFORMATION

DigiDoe 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 with finite useful lives are carried at revalued amount, being its fair value at the date of revaluation less accumulated amortisation and impairment losses. The fair valuation is determined by meeting the requirement of an active market.

Amortisation is recognised on a straight line basis over their estimate useful lives. The estimated useful life and amortisation are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. The useful life for each class of intangible asset is as follows;

Patents and licenses are valued at cost and are not amortised. At the balance sheet date the carrying amount is reviewed to determine if there is any indication of impairment.

Development costs are valued at cost and amortised over their useful economic life of 10 years.

Tangible fixed assets

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

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st October 2021

191,298

Additions

599,375

At 30th September 2022

790,673

AMORTISATION

At 1st October 2021

21,412

Charge for year

40,290

At 30th September 2022

61,702

NET BOOK VALUE

At 30th September 2022

728,971

At 30th September 2021

169,886

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st October 2021

11,617

Additions

4,067

At 30th September 2022

15,684

DEPRECIATION

At 1st October 2021

1,077

Charge for year

4,332

At 30th September 2022

5,409

NET BOOK VALUE

At 30th September 2022

10,275

At 30th September 2021

10,540

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

69,033

-

Other debtors

111,803

19,292

180,836

19,292

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

5,712

11,274

Taxation and social security

2,209

-

Other creditors

192,144

40,034

200,065

51,308

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

10,346,585

Ordinary shares

£0.00

1

10,347

10,185

1,329,518

Preference shares

£0.00

1

1,330

-

11,677

10,185

The following share movements took place during the period:

43,650 ordinary shares were allotted and fully paid for at a premium of £0.686 per share on 5th January 2022.

72,780 ordinary shares were allotted and fully paid for at a premium of £0.686 per share on 17th February 2022.

45,155 ordinary shares were allotted and fully paid for at a premium of £1.10629 per share on 12th April 2022.

1,196,738 preference shares were allotted and fully paid for at a premium of £0.686 per share on 5th January 2022.

132,780 preference shares were allotted and fully paid for at a premium of £0.686 per share on 17th February 2022.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Joseph Illes FCA (Senior Statutory Auditor)

for and on behalf of Thickbroom Coventry

10.	RELATED PARTY DISCLOSURES

All of the following companies are related by the fact that they either have common directors with Digidoe Ltd or are ultimately controlled by one or more of the directors of Digidoe Ltd.

Financial information on transactions and balances between related parties are as follows:

Springwood Capital (UK) Limited

Digidoe Ltd purchased £126,853 (2021: £7,280) of goods and services from Springwood Capital (UK) Limited during the period. Amounts due to Springwood Capital (UK) Limited at the end of the period amounted to £40,000 (2021: £2,055).

Included in other creditors is a loan balance due to Springwood Capital (UK) Limited amounting to £1,114 (2021: £1,114). This loan is interest free and repayable on demand.

Fintech Lab Limited

Digidoe Ltd purchased £84,427 (2021: £nil) of goods and services from Fintech Lab Limited during the period. Amounts due to Fintech Lab Limited at the end of the period amounted to £nil (2021: £nil).

Suntower United Ltd

Included in other creditors is a loan balance due to Suntower United Ltd amounting to £21,000 (2021: £21,000). This loan is interest free and repayable on demand.