REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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30 SEPTEMBER 2019 |
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FOR |
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ENIGMA DIGITAL LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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30 SEPTEMBER 2019 |
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FOR |
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ENIGMA DIGITAL LIMITED |
ENIGMA DIGITAL LIMITED (REGISTERED NUMBER: 07788522) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ENIGMA DIGITAL LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
No. 3 Caroline Court |
13 Caroline Street |
St Paul's Square |
Birmingham |
B3 1TR |
ENIGMA DIGITAL LIMITED (REGISTERED NUMBER: 07788522) |
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BALANCE SHEET |
30 SEPTEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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 |
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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. |
ENIGMA DIGITAL LIMITED (REGISTERED NUMBER: 07788522) |
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BALANCE SHEET - continued |
30 SEPTEMBER 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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ENIGMA DIGITAL LIMITED (REGISTERED NUMBER: 07788522) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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1. | STATUTORY INFORMATION |
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Enigma Digital Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being |
amortised evenly over its estimated useful life of five years, except where the Directors consider the |
value to be permanently impaired in which case the net book value is written down to what is |
considered to be the impaired value. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been |
enacted or substantively enacted by the balance sheet date. |
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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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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. |
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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. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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ENIGMA DIGITAL LIMITED (REGISTERED NUMBER: 07788522) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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Grant income |
Grants received in respect of capital expenditure are credited to the profit and loss account over the |
same period as the expected useful life of the related capital item. The element of the grant not yet |
released to the profit and loss account is treated as deferred income at the year end. |
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Impairment of assets |
Assets, other than those measured at fair value, are assessed for indicators of impairment at each |
balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in |
profit or loss. |
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For non-financial assets, the asset is impaired where there is objective evidence that, as a result of |
one or more events that occurred after initial recognition, the estimated recoverable value of the asset |
has been reduced. The recoverable amount of the asset is the higher of its fair value less costs to sell |
and its value in use. |
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For financial assets carried at amortised costs, the amount of an impairment is the difference between |
the asset's carrying amount and the present value of estimated future cash flows, discounted at the |
financial asset's original effective interest rate. |
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For financial assets carried at cost less impairment, the impairment loss is the difference between the |
asset's carrying amount and the best estimate of the amount that would be received for the asset if it |
were to be sold at the reporting date. |
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Where indicators exist for the decrease in impairment loss, and the decrease can be related |
objectively to an event occurring after the impairment was recognised, the prior impairment loss is |
tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset |
to the extent that the revised recoverable value does not lead to a revised carrying amount higher than |
the carrying value had no impairment been recognised. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 October 2018 |
and 30 September 2019 |
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AMORTISATION |
At 1 October 2018 |
and 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 30 September 2018 |
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ENIGMA DIGITAL LIMITED (REGISTERED NUMBER: 07788522) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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COST |
At 1 October 2018 |
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Additions |
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Disposals | ( |
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At 30 September 2019 |
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DEPRECIATION |
At 1 October 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 30 September 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Other creditors |
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ENIGMA DIGITAL LIMITED (REGISTERED NUMBER: 07788522) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2019 | 2018 |
£ | £ |
Within one year |
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Between one and five years |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Other loans | 28,436 | 11,177 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £0.01 | 1,493 | 1,443 |
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"A" Ordinary | £0.01 | 786 | 786 |
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"Growth" | £0.01 | 128 | 128 |
2,407 | 2,357 |
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12. | GOING CONCERN |
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In the year to 30 September 2019 the company made a post-tax loss of £31,691 and at the year end |
had negative profit and loss reserves of £1,042,924. The Directors consider that the company remains |
a going concern given that it has taken steps to significantly reduce its costs and expects its new |
product to generate revenue from December 2019. This should mean the company will start to |
generate monthly pre-tax profits from January 2020 onwards. Hence, the Directors consider the going |
concern basis to remain appropriate for the preparation of these financial statements. |