| DIGITAL IT LIMITED | | | | | | |
| Directors Report | | | | | | |
| for the Period Ended 31 March 2014 | | | | |
| The directors present their report with the financial statements of the company for the |
| period ended 31 March 2014 | | | | | |
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| Principal activities | | | | | |
| The principal activity of the company in the period under review was | |
| IT | | | | | | | |
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| Directors | | | | | | | |
| The director(s) shown below have held office during the whole of the period |
| George Sorin Deleanu | | | | | |
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| Company policy on the employment of disabled persons | | |
| It is the companys policy to give employment to disabled persons wherever practicable. |
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| Small Company Provisions | | | | | |
| These accounts have been prepared in accordance with the provisions applicable to |
| companies subject to the small companies regime. | | | |
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| This report was approved by the board of directors on | 2014-10-06 | |
| and signed on behalf of the board by | | | | |
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| Name | George Sorin Deleanu | | | | | | |
| Status | Director | | | | | | |
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| DIGITAL IT LIMITED | | | | | | |
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| Profit and Loss Account | | | | | |
| for the Period Ended 31 March 2014 | | | | |
| | | | | | 2014 | 2013 |
| | | | | Notes | £ | £ |
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| Turnover | | | | | 2 | 161,412 | 143,588 |
| Cost of sales | | | | | 78,011 | 112,244 |
| | | | | | _______ | _______ |
| Gross Profit/(Loss) | | | | | 83,401 | 31,344 |
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| Administrative expenses | | | | 621 | 29,711 |
| | | | | | _______ | _______ |
| Operating costs | | | | | 621 | 29,711 |
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| | | | | | _______ | _______ |
| Operating Profit/(Loss) | | | 3 | 82,779 | 1,633 |
| | | | | | _______ | _______ |
| Interest receivable and similar | | | | 10 |
| | | | | | _______ | _______ |
| Net Finance income/(Loss) | | | | | 10 |
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| Profit/(Loss) on ordinary activities before taxation | 82,779 | 1,652 |
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| Tax on profit on ordinary activities | | | 16,556 | 328 |
| | | | | | _______ | _______ |
| Profit/(Loss) for the financial year after taxation | 66,223 | 1,324 |
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| There were no recognised gains or losses other than the profit shown attributable to the shareholders |
| for the period ended 31 March 2014 | | | | |
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| The notes form part of these financial statements | | | |
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| DIGITAL IT LIMITED | | | | | | | |
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| Balance Sheet | | | | | | | |
| for the Period Ended 31 March 2014 | | | | | |
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| These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008). |
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| For the year ending 31 March 2014 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. |
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| The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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| The financial statements were approved by the Board of Directors on | 2014-10-06 | |
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| SIGNED ON BEHALF OF THE BOARD BY | | | | | |
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| Name | George Sorin Deleanu | | | | | | | |
| Director | | | | | | | |
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| The notes form part of these financial statements | | | | |
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| | | | | | | Page 7 | |
| DIGITAL IT LIMITED | | | | | | | |
| Notes to the Financial Statements | | | | | |
| for the Period Ended 31 March 2014 | | | | | |
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| 1. Accounting policies | | | | | | |
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| Basis of preparation | | | | | | |
| The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008). |
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| Turnover | | | | | | | | |
| The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT. |
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| Tangible fixed assets Depreciation | | | | | |
| Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. |
| Freehold buildings | | 2% straight line | | | | | |
| Freehold land | | 2% straight line | | | | | |
| Fixtures and fittings | 20% reducing | | | | | |
| Office equipment | | 20% straight line | | | | | |
| Motor vehicles | | 20% straight line | | | | | |
| Plant and machinery | | 20% straight line | | | | | |
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| Deferred taxation | | | | | | | |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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| | | | | | | | Page 8 |
| DIGITAL IT LIMITED | | | | | | | |
| Notes to the Financial Statements | | | | | |
| for the Period Ended 31 March 2014 | | | | | |
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| 2. Turnover | | | | | 2,014 | 2,013 | |
| | | | | | £ | £ | |
| United Kingdom | | | | | 161,412 | 143,588 | |
| | | | | | _______ | _______ | |
| Total | | | | | | 161,412 | 143,588 | |
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| 3. Operating profit/(loss) | | | | | | |
| Profit before tax as stated after charging the following | 2014 | 2013 | |
| | | | | | £ | £ | |
| Depreciation - owned assets | | | | 6,841 | 13,973 | |
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| 4. Directors remuneration | | | | 2014 | 2013 | |
| | | | | | £ | £ | |
| Directors remuneration | | | | 7,735 | 3,637 | |
| Value of directors pension contributions | | | | |
| | | | | | _______ | _______ | |
| Total | | | | | | 7,735 | 3,637 | |
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| The number of Directors accruing pension benefits was | | | |
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| 4. Taxation | | | | | | | |
| The tax charge on the profit on ordinary activities | | | |
| for the period was as follows | | | | 2014 | 2013 | |
| | | | | | £ | £ | |
| UK Corporation Tax net of reliefs | | | 16,556 | 328 | |
| | | | | | _______ | _______ | |
| Tax on profit on ordinary activities | | | 16,556 | 328 | |
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| 5. Dividends | | | | | 2014 | 2013 | |
| | | | | | £ | £ | |
| Dividend on ordinary shares paid in period | | 91,436 | | |
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| | | | | | | Page 9 | |
