Digaprint Ltd - Period Ending 2015-03-31

Digaprint Ltd - Period Ending 2015-03-31


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Registration number: 3155783

Digaprint Ltd

trading as One Digital

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Bespoke Accounting Limited
Chartered Accountants
2/4 Ash Lane,
Rustington
Littlehampton
West Sussex
BN16 3BZ

 

Digaprint Ltd
trading as One Digital
Contents

Abbreviated Balance Sheet

1 to 2

Notes to the Abbreviated Accounts

3 to 5

 

Digaprint Ltd
trading as One Digital
(Registration number: 3155783)
Abbreviated Balance Sheet at 31 March 2015

   

Note

   

2015
£

   

2014
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

437,603

   

103,205

 

Current assets

 

             

Stocks

 

   

84,698

   

85,795

 

Debtors

 

   

380,417

   

297,406

 

Cash at bank and in hand

 

   

19,923

   

42,710

 
   

   

485,038

   

425,911

 

Creditors: Amounts falling due within one year

 

   

(307,356)

   

(256,498)

 

Net current assets

 

   

177,682

   

169,413

 

Total assets less current liabilities

 

   

615,285

   

272,618

 

Creditors: Amounts falling due after more than one year

 

   

(174,000)

   

-

 

Provisions for liabilities

 

   

(70,069)

   

(5,037)

 

Net assets

 

   

371,216

   

267,581

 

Capital and reserves

 

             

Called up share capital

 

3

   

120,527

   

177,524

 

Capital redemption reserve

 

   

800

   

800

 

Profit and loss account

 

   

249,889

   

89,257

 

Shareholders' funds

 

   

371,216

   

267,581

 

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 directors acknowledge their 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 Board on 2 December 2015 and signed on its behalf by:

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

 

Digaprint Ltd
trading as One Digital
(Registration number: 3155783)
Abbreviated Balance Sheet at 31 March 2015
......... continued

.........................................
Mr C J Staples
Director

.........................................
Mr S B White
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

 

Digaprint Ltd
trading as One Digital
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.

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

Short leasehold premises

5 years

Plant and machinery

5 years

Computer equipment

3 years

Office fixtures and fittings

5 years

Motor vehicles

4-5 years

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date,except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

 

Digaprint Ltd
trading as One Digital
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation 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. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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.

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 April 2014

 

1,118,550

   

1,118,550

 

Additions

 

412,125

   

412,125

 

Disposals

 

(639)

   

(639)

 

At 31 March 2015

 

1,530,036

   

1,530,036

 

Depreciation

           

At 1 April 2014

 

1,015,345

   

1,015,345

 

Charge for the year

 

77,727

   

77,727

 

Eliminated on disposals

 

(639)

   

(639)

 

At 31 March 2015

 

1,092,433

   

1,092,433

 

Net book value

           

At 31 March 2015

 

437,603

   

437,603

 

At 31 March 2014

 

103,205

   

103,205

 
 

Digaprint Ltd
trading as One Digital
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

3

Share capital

Allotted, called up and fully paid shares

 

2015

2014

   

No.

   

£

   

No.

   

£

 

'B' shares shares of £1 each

 

200

   

200

   

200

   

200

 

Redeemable shares of £6,333.00 each

 

19

   

120,327

   

28

   

177,324

 
   

219

   

120,527

   

228

   

177,524