In2digi Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07297396 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

In2digi Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Afghan

R P Almeida

H M Innes

H A Parmar

SECRETARY:

REGISTERED OFFICE:

Unit 11 Diddenham Business Park

Diddenham Court, Lambwood Hill

Grazeley

Reading

Berkshire

RG7 1JQ

REGISTERED NUMBER:

07297396 (England and Wales)

ACCOUNTANTS:

EDMONDS ACCOUNTANCY LIMITED

Unit 11, Diddenham Business Park,

Diddenham Court

Grazeley,

READING

Berkshire

RG7 1JQ

FIXED ASSETS

Tangible assets

3

2,334

1,931

CURRENT ASSETS

Stocks

9,701

4,596

Debtors

4

14,814

335

Cash at bank

2,324

3,380

26,839

8,311

CREDITORS

Amounts falling due within one year

5

99,290

73,356

NET CURRENT LIABILITIES

(72,451

)

(65,045

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(70,117

)

(63,114

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(70,217

)

(63,214

)

SHAREHOLDERS' FUNDS

(70,117

)

(63,114

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 4 September 2017 and were signed on its behalf by:

H M Innes - Director

H A Parmar - Director

1.	STATUTORY INFORMATION

In2digi Ltd is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

4,885

Additions

1,384

At 31 December 2016

6,269

DEPRECIATION

At 1 January 2016

2,954

Charge for year

981

At 31 December 2016

3,935

NET BOOK VALUE

At 31 December 2016

2,334

At 31 December 2015

1,931

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

13,520

-

Other debtors

1,294

335

14,814

335

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

5,350

1

Other creditors

93,940

73,355

99,290

73,356

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company has a negative net assets on its balance sheet of £70,117 (prior year £63,114) which is funded by

loans from its directors. There is an ongoing commitment to continue this line of credit for at least 12 months and

so the accounts are prepared on a going concern basis.

7.	RELATED PARTY DISCLOSURES

The directors/shareholders provided additional loans to the company in the year so the balance is now £93,490.

The loans introduced were:

Mr H Parmar, the value of £6,000

Mr H Innes, the value of £6,585

Mr M Afghan, the value of £2,000

Mr R Almeida, the value of £6,000

The four directors of the company are also the four equal shareholders.

The company purchased services from companies each controlled by a shareholder and director of the business.

Mr H Parmar, to the value of £0 (prior year £0)

Mr H Innes, to the value of £0 (prior year £0)

Mr M Afghan, to the value of £0 (prior year £0)