Digital Junkie Limited - Period Ending 2015-03-31

Registration number: 06220619

Digital Junkie Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Northern Accountants Ltd
Olympus House
2 Howley Park Business Village
Leeds
West Yorkshire
LS27 0BZ

Digital Junkie Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Digital Junkie Limited
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Digital Junkie Limited for the year ended 31 March 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Digital Junkie Limited , as a body, in accordance with the terms of our engagement letter . Our work has been undertaken solely to prepare for your approval the accounts of Digital Junkie Limited and state those matters that we have agreed to state to them.

It is your duty to ensure that Digital Junkie Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Digital Junkie Limited. You consider that Digital Junkie Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Digital Junkie Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Northern Accountants Ltd
Olympus House
2 Howley Park Business Village
Leeds
West Yorkshire
LS27 0BZ

14 October 2015

Page 1

Digital Junkie Limited
(Registration number: 06220619)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					9,600			12,800
Tangible fixed assets					1,719			8,217
					11,319			21,017
Current assets
Debtors					114,298			185,723
Cash at bank and in hand					1,128			322
					115,426			186,045
Creditors: Amounts falling due within one year					(148,214)			(203,637)
Net current liabilities					(32,788)			(17,592)
Total assets less current liabilities					(21,469)			3,425
Creditors: Amounts falling due after more than one year					-			(1,482)
Net (liabilities)/assets					(21,469)			1,943
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					(21,470)			1,942
Shareholders' (deficit)/funds					(21,469)			1,943

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 14 October 2015

.........................................
Mr Steven Kennell
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Digital Junkie Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	Straight line 10%

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	Reducing balance 25%
Computer equipment	Straight line 33%
Fixtures and fittings	Straight line 20%

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Digital Junkie Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		32,000			44,883			76,883
At 31 March 2015		32,000			44,883			76,883
Depreciation
At 1 April 2014		19,200			36,666			55,866
Charge for the year		3,200			6,498			9,698
At 31 March 2015		22,400			43,164			65,564
Net book value
At 31 March 2015		9,600			1,719			11,319
At 31 March 2014		12,800			8,217			21,017

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		1			1			1			1

Page 4