Company Registration No. 08847421 (England and Wales)
DIGLIS SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
DIGLIS SOLUTIONS LIMITED
COMPANY INFORMATION
Directors
Mr A J Brine
Mrs A D Brine
Company number
08847421
Registered office
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
National Westminster Bank Plc
1 The Cross
Worcester
Worcestershire
WR1 3PR
DIGLIS SOLUTIONS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
DIGLIS SOLUTIONS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DIGLIS SOLUTIONS LIMITED FOR THE YEAR ENDED 31 MARCH 2018
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Diglis Solutions Limited for the year ended 31 March 2018 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Diglis Solutions Limited, as a body, in accordance with
our
terms
of
engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Diglis Solutions Limited
and state those matters that we have agreed to state to the Board of Directors of Diglis Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Diglis Solutions Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Diglis Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and profit of Diglis Solutions Limited. You consider that Diglis Solutions Limited is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Diglis Solutions Limited. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
11 July 2018
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
DIGLIS SOLUTIONS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2018
31 March 2018
- 2 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
731
600
Current assets
Debtors
4
2,101
8,542
Cash at bank and in hand
25,237
43,916
27,338
52,458
Creditors: amounts falling due within one year
5
(6,734)
(13,080)
Net current assets
20,604
39,378
Total assets less current liabilities
21,335
39,978
Provisions for liabilities
(139)
(120)
Net assets
21,196
39,858
Capital and reserves
Called up share capital
7
102
102
Profit and loss reserves
21,094
39,756
Total equity
21,196
39,858
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
DIGLIS SOLUTIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2018
31 March 2018
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 11 July 2018 and are signed on its behalf by:
Mr A J Brine
Mrs A D Brine
Director
Director
Company Registration No. 08847421
DIGLIS SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 4 -
1
Accounting policies
Company information
Diglis Solutions Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Oakley, Kidderminster Road, Droitwich, Worcestershire, WR9 9AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment
20% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
DIGLIS SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
2
Employees
The average number of persons (including directors) employed by the company during the year was 2 (2017 - 2).
3
Tangible fixed assets
Office equipment
£
Cost
At 1 April 2017
976
Additions
279
At 31 March 2018
1,255
Depreciation and impairment
At 1 April 2017
376
Depreciation charged in the year
148
At 31 March 2018
524
Carrying amount
At 31 March 2018
731
At 31 March 2017
600
DIGLIS SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 6 -
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
1,919
7,605
Other debtors
182
937
2,101
8,542
5
Creditors: amounts falling due within one year
2018
2017
£
£
Corporation tax
5,188
10,373
Other taxation and social security
562
1,727
Other creditors
984
980
6,734
13,080
6
Provisions for liabilities
2018
2017
£
£
Deferred tax liabilities
139
120
139
120
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100
1 Ordinary B of £1 each
1
1
1 Ordinary C of £1 each
1
1
102
102
8
Ultimate controlling party
The ultimate controlling party is Mr A J Brine.