REGISTERED NUMBER: 07545322 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2018

for

57Digital Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Chapman

L Dixon

REGISTERED OFFICE:

Unit 404, The Workstation

15 Paternoster Row

Sheffield

South Yorkshire

S1 2BX

REGISTERED NUMBER:

07545322 (England and Wales)

ACCOUNTANTS:

Westons Business Solutions Ltd

1 Vincent House

149 Solly Street

Sheffield

South Yorkshire

S1 4BB

FIXED ASSETS

Tangible assets

4

17,639

19,699

CURRENT ASSETS

Debtors

5

35,904

53,663

Cash at bank

166,156

193,927

202,060

247,590

CREDITORS

Amounts falling due within one year

6

49,629

50,148

NET CURRENT ASSETS

152,431

197,442

TOTAL ASSETS LESS CURRENT LIABILITIES

170,070

217,141

PROVISIONS FOR LIABILITIES

3,351

3,743

NET ASSETS

166,719

213,398

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

166,619

213,298

SHAREHOLDERS' FUNDS

166,719

213,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 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 24 October 2018 and were signed on its behalf by:

J Chapman - Director

L Dixon - Director

1.	STATUTORY INFORMATION

57Digital Ltd is a private company , limited by shares , registered in England and Wales. The company's

registered number is 07545322 and registered office address is The Workstation Unit 404 , 15 Paternoster Row ,

Sheffield , South Yorkshire , S1 2BX.

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.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 2 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 March 2017

6,295

30,864

37,159

Additions

-

2,973

2,973

At 28 February 2018

6,295

33,837

40,132

DEPRECIATION

At 1 March 2017

2,628

14,832

17,460

Charge for year

733

4,300

5,033

At 28 February 2018

3,361

19,132

22,493

NET BOOK VALUE

At 28 February 2018

2,934

14,705

17,639

At 28 February 2017

3,667

16,032

19,699

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Trade debtors

35,752

35,530

Other debtors

152

18,133

35,904

53,663

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Trade creditors

17,123

12,248

Taxation and social security

24,042

26,815

Other creditors

8,464

11,085

49,629

50,148

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2018 and

28 February 2017:

28.2.18

28.2.17

£

£

J Chapman

Balance outstanding at start of year

(4,555

)

(9,057

)

Amounts advanced

81,978

84,502

Amounts repaid

(80,000

)

(80,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,577

)

(4,555

)

L Dixon

Balance outstanding at start of year

(4,631

)

(8,461

)

Amounts advanced

80,645

83,830

Amounts repaid

(80,000

)

(80,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(3,986

)

(4,631

)

The above loans are unsecured , interest is charged on these balances at the official rate and is repayable on

demand.