Abbreviated Company Accounts - DIGITAL YOUTH ACADEMY LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to
customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their
estimated useful lives.
Computer and other equipment 25% straight line
Website and software 20% straight line

Other accounting policies
Going Concern
The Company has made a loss of £114,800 for the period (2014: £62,761) and has net liabilities
of £393,144 (2014: £278,350).
The Company meets its day to day working capital requirements through shareholder loans of
£488,014 (2014: £488,014) which are payable on or before the fifth anniversary of the loan
agreements signed on 22 November 2011, and subsequently on 24th December 2012 and 23rd
January 2013.
The Company's forecasts and projections, taking into account reasonably possible changes in
trading performance, show that the Company should be able to operate within the levels of these
loans.
The directors have reasonable expectation that the initial shareholder loans will be extended
should this be required and that the Company has adequate resources to continue in operational
existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis
in preparing the Directors' report and financial statements.

Deferred Taxation
Full provision is made for deferred taxation resulting from timing differences between the
recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred
taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the
periods when the timing differences will reverse.

Foreign Currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies are translated at the rate of
exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where
substantially all the risks and rewards of ownership of the asset have passed to the company, are
capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease
or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the
period of the lease and represents a constant proportion of the balance of capital repayments
outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease
term.

Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the
profit and loss account as they become payable in accordance with the rules of the scheme.