Diligent Ict Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC488033 (Scotland)

Financial Statements

for the Year Ended 31 March 2021

for

Diligent Ict Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P D Kelly

N Woods

REGISTERED OFFICE:

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

REGISTERED NUMBER:

SC488033 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Property, plant and equipment

4

2,168

1,417

CURRENT ASSETS

Inventories

12,074

4,815

Debtors

5

36,541

55,042

Cash at bank

12,418

6,422

61,033

66,279

CREDITORS

Amounts falling due within one year

6

25,258

42,445

NET CURRENT ASSETS

35,775

23,834

TOTAL ASSETS LESS CURRENT LIABILITIES

37,943

25,251

PROVISIONS FOR LIABILITIES

369

241

NET ASSETS

37,574

25,010

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

37,474

24,910

SHAREHOLDERS' FUNDS

37,574

25,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 26 January 2022 and were signed on its behalf by:

P D Kelly - Director

1.	STATUTORY INFORMATION

Diligent Ict Limited is a private company, limited by shares , registered in Scotland. 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.

Going concern

The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue

Turnover represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Inventories

Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2020

956

12,267

13,223

Additions

220

2,028

2,248

Disposals

-

(583

)

(583

)

At 31 March 2021

1,176

13,712

14,888

DEPRECIATION

At 1 April 2020

216

11,590

11,806

Charge for year

144

1,353

1,497

Eliminated on disposal

-

(583

)

(583

)

At 31 March 2021

360

12,360

12,720

NET BOOK VALUE

At 31 March 2021

816

1,352

2,168

At 31 March 2020

740

677

1,417

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

£

Trade debtors

28,335

47,835

Other debtors

8,206

7,207

36,541

55,042

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

£

Trade creditors

11,861

22,120

Taxation and social security

7,360

8,920

Other creditors

6,037

11,405

25,258

42,445

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/21

31/3/20

value:

£

£

100

Ordinary

£1

100

100