DIGICOM EAST LONDON LIMITED - Accounts

DIGICOM EAST LONDON LIMITED - Company Information

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Registered Number: 06958226

England and Wales

DIGICOM EAST LONDON LIMITED

Abridged Accounts

Period of accounts

Start date: 01 August 2021

End date: 31 July 2022

DIGICOM EAST LONDON LIMITED
Contents Page
For the year ended 31 July 2022

Statement of financial position	1
Notes to the financial statements	2

DIGICOM EAST LONDON LIMITED
Statement of Financial Position
As at 31 July 2022

	2022 £	2021 £
Fixed assets
Tangible fixed assets	1,240	1,459
	1,240	1,459
Current assets
Stocks	29,225	22,750
Debtors: amounts falling due within one year	215,000	225,108
Cash at bank and in hand	19,768	11,250
	263,993	259,108
Creditors: amount falling due within one year	(87,136)	(69,251)
Net current assets	176,857	189,857

Total assets less current liabilities	178,097	191,316
Creditors: amount falling due after more than one year	(120,201)	(148,001)
Net assets	57,896	43,315

Capital and reserves
Called up share capital	1	1
Profit and loss account	57,895	43,314
Shareholder's funds	57,896	43,315

For the accounting year the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the director on 26 April 2023 and were signed by:

--------------------------------
Mustofa Ahmed
Director

DIGICOM EAST LONDON LIMITED
Notes to the Abridged Financial Statements
For the year ended 31 July 2022

General Information

DIGICOM EAST LONDON LIMITED is a private company, limited by shares, registered in England, registration number 06958226, registration address 29 WHITECHAPEL ROAD , LONDON, E1 1DU.

Accounting policies

Significant accounting policies

Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Cost of sales

Cost of sales comprises the value of goods and services paid by the company, net of Value Added Tax and trade discounts as applicable.

Government grants

Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.

Taxation

The tax charged on the profit on ordinary activities using applicable standard taxation provisions in use.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Fixtures and Fittings

15% Reducing Balance

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Staff Costs

	2022	2021

Average number of employees during the year	Number	Number
Administration	1	1
Sales	1	3
	2	4

3.	Average number of employees Average number of employees during the year was 2 (2021 : 4).

Tangible fixed assets

Cost or valuation	Fixtures and Fittings	Total
	£	£
At 01 August 2021	5,211	5,211
Additions	-	-
Disposals	-	-
At 31 July 2022	5,211	5,211
Depreciation
At 01 August 2021	3,752	3,752
Charge for year	219	219
On disposals	-	-
At 31 July 2022	3,971	3,971
Net book values
Closing balance as at 31 July 2022	1,240	1,240
Opening balance as at 01 August 2021	1,459	1,459

Share Capital

Allotted, called up and fully paid	2022 £		2021 £
1 Class A share of £1.00 each	1		1
	1		1