Company Registration No. 07785323 (England and Wales)
Digitalist UK Limited
Unaudited accounts
for the year ended 31 December 2016
Digitalist UK Limited
Unaudited accounts
Contents
Digitalist UK Limited
Company Information
for the year ended 31 December 2016
Directors
T Kuisma
S V Paihonen
Company Number
07785323 (England and Wales)
Registered Office
26-27 Lower Woodcock Street
Castle Cary
Somerset
BA7 7BH
England
Digitalist UK Limited
Statement of financial position
as at 31 December 2016
Tangible assets
7,535
1,937
Cash at bank and in hand
1,842
19,731
Creditors: amounts falling due within one year
(4,642,258)
(3,243,713)
Net current liabilities
(4,416,730)
(3,129,125)
Net liabilities
(4,409,195)
(3,127,188)
Called up share capital
100
100
Profit and loss account
(4,409,295)
(3,127,288)
Shareholders' funds
(4,409,195)
(3,127,188)
For the year ending 31 December 2016 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 31 January 2017.
S V Paihonen
Director
Company Registration No. 07785323
Digitalist UK Limited
Notes to the Accounts
for the year ended 31 December 2016
Digitalist UK Limited is a private company, limited by shares, registered in England and Wales, registration number 07785323. The principal place of business is 5th Floor, 8-12 Camden High Street, London, NW1 0JH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 December 2016 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% per annum straight line
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Digitalist UK Limited
Notes to the Accounts
for the year ended 31 December 2016
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Tangible fixed assets
Plant & machinery
At 31 December 2016
86,394
At 31 December 2016
78,859
Trade debtors
181,586
53,531
Amounts due from group undertakings etc.
100
100
Accrued income and prepayments
42,000
40,913
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Creditors: amounts falling due within one year
2016
2015
Amounts owed to group undertakings and other participating interests
4,609,383
3,199,695
Taxes and social security
28,799
27,643
Other creditors
1,789
16,375
Digitalist UK Ltd is a wholly owned subsidiary of Ixonos plc, registered office Hitsaajankatu 24 P.O. Box 284 FI-00811, Helsinki, Finland.
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Average number of employees
During the year the average number of employees was 12 (2015: 12).
