Digitalplanet.IS Ltd - Filleted accounts

Registered number

08909174

Digitalplanet.IS Ltd

Unaudited Filleted Accounts

28 February 2018

Digitalplanet.IS Ltd
Registered number:		08909174
Balance Sheet
as at 28 February 2018

Notes			2018			2017
£				£
Fixed assets
Intangible assets	3		2,167			2,889
Tangible assets	4		1,545			399
			3,712			3,288

Current assets
Debtors	5	24,801			2,447
Cash at bank and in hand		2,055			740
		26,856			3,187

Creditors: amounts falling due within one year	6	(27,978)			(11,860)

Net current liabilities			(1,122)			(8,673)

Net assets/(liabilities)			2,590			(5,385)

Capital and reserves
Called up share capital			2			2
Profit and loss account			2,588			(5,387)

Shareholder's funds			2,590			(5,385)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mark Duesbury
Director
Approved by the board on 23 November 2018

Digitalplanet.IS Ltd
Notes to the Accounts
for the year ended 28 February 2018


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover - Services
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Computer equipment	33% Straight line
	Office equipment	20% Straight line

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees		2018		2017
Number				Number

	Average number of persons employed by the company including paid directors and office holders		1		1


3	Intangible fixed assets				£

	Cost
	At 1 March 2017				3,611
	At 28 February 2018				3,611

	Amortisation
	At 1 March 2017				722
	Provided during the year				722
	At 28 February 2018				1,444

	Net book value
	At 28 February 2018				2,167
	At 28 February 2017				2,889



4	Tangible fixed assets
					Equipment
£
	Cost
	At 1 March 2017				549
	Additions				1,911
	At 28 February 2018				2,460

	Depreciation
	At 1 March 2017				150
	Charge for the year				765
	At 28 February 2018				915

	Net book value
	At 28 February 2018				1,545
	At 28 February 2017				399


5	Debtors		2018		2017
£				£

	Trade debtors		1,650		-
	Other debtors		23,151		2,447
			24,801		2,447


6	Creditors: amounts falling due within one year		2018		2017
£				£

	Trade creditors		-		78
	Corporation tax		9,183		4,194
	Other taxes and social security costs		18,795		7,588
			27,978		11,860


7	Controlling party

	The company is controlled by Mark Duesbury by virtue of his 100% shareholding.


8	Other information

	Digitalplanet.IS Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Accountsnet
	3000 Aviator Way
	Manchester Business Park
	Manchester
	M22 5TG