Company Registration No. 07674991 (England and Wales)
The Digital Collaborative Ltd
Unaudited accounts
for the year ended 30 June 2017
The Digital Collaborative Ltd
Unaudited accounts
Contents
The Digital Collaborative Ltd
Company Information
for the year ended 30 June 2017
Directors
Paul R Allen
Charlotte Allen
Secretary
Dr Charlotte Allen
Company Number
07674991 (England and Wales)
Registered Office
Marlboro
Higher Fraddon
St. Columb
Cornwall
TR9 6NQ
Accountants
Longman Accountancy Services Ltd
Standlow House
137 Albion Road
New Mills
High Peak
SK22 3JP
The Digital Collaborative Ltd
Statement of financial position
as at 30 June 2017
Cash at bank and in hand
301,155
214,409
Creditors: amounts falling due within one year
(116,407)
(92,385)
Net current assets
247,521
165,343
Total assets less current liabilities
247,746
165,343
Provisions for liabilities
Net assets
247,700
165,343
Called up share capital
100
100
Profit and loss account
247,600
165,243
Shareholders' funds
247,700
165,343
For the year ending 30 June 2017 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 21 March 2018.
Paul R Allen
Director
Company Registration No. 07674991
The Digital Collaborative Ltd
Notes to the Accounts
for the year ended 30 June 2017
The Digital Collaborative Ltd is a private company, limited by shares, registered in England and Wales, registration number 07674991. The registered office is Marlboro, Higher Fraddon, St. Columb, Cornwall, TR9 6NQ.
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
30 June 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 July 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 note
10 below.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the rate of 50% of cost in order to write off the assets over their estimated useful lives.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The Digital Collaborative Ltd
Notes to the Accounts
for the year ended 30 June 2017
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2016
2,776
4,007
6,783
At 30 June 2017
2,776
4,457
7,233
At 1 July 2016
2,776
4,007
6,783
Charge for the year
-
225
225
At 30 June 2017
2,776
4,232
7,008
Trade debtors
57,127
34,263
6
Creditors: amounts falling due within one year
2017
2016
Trade creditors
1,566
18,281
Taxes and social security
114,841
73,854
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors' loan account - Mr and Dr Allen
9,056
90,105
93,515
5,646
9,056
90,105
93,515
5,646
Interest is charged at 3% on amounts due from directors.
9
Average number of employees
During the year the average number of employees was 2 (2016: 2).
The Digital Collaborative Ltd
Notes to the Accounts
for the year ended 30 June 2017
10
Reconciliations on adoption of FRS 102
The transition to FRS 102 resulted in no changes to the previously reported results.
