Digital Concepts Engineering Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04398993 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Digital Concepts Engineering Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E J Gummow

T D Gummow

L Nierop

G Robins

SECRETARY:

E J Gummow

REGISTERED OFFICE:

Unit C3 Sketchley Meadows Ind Estate

Sketchley Meadows

Hinckley

Leicestershire

LE10 3EN

REGISTERED NUMBER:

04398993 (England and Wales)

ACCOUNTANTS:

Brockhurst Davies Limited

11 The Office Village

North Road

Loughborough

Leicestershire

LE11 1QJ

FIXED ASSETS

Tangible assets

4

46,668

30,334

CURRENT ASSETS

Stocks

3,000

4,670

Debtors

123,914

22,399

Cash at bank

138,007

68,189

264,921

95,258

CREDITORS

Amounts falling due within one year

134,920

6,740

NET CURRENT ASSETS

130,001

88,518

TOTAL ASSETS LESS CURRENT LIABILITIES

176,669

118,852

CREDITORS

Amounts falling due after more than one year

42,000

-

NET ASSETS

134,669

118,852

CAPITAL AND RESERVES

Called up share capital

106

106

Share premium

59,969

59,969

Retained earnings

74,594

58,777

SHAREHOLDERS' FUNDS

134,669

118,852

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 December 2021 and were signed on its behalf by:

E J Gummow - Director

1.	STATUTORY INFORMATION

Digital Concepts Engineering 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.

Tangible fixed assets

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

Plant and machinery etc

-

50% on cost and 33% on cost

Stocks

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

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

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.

Government grant

Government grants received in respect of capital assets shall be recognised in the profit and loss account over the life of the asset to which it relates ie. matched with the relevant depreciation policy.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2020

39,220

Additions

28,759

At 31 March 2021

67,979

DEPRECIATION

At 1 April 2020

8,886

Charge for year

12,425

At 31 March 2021

21,311

NET BOOK VALUE

At 31 March 2021

46,668

At 31 March 2020

30,334