DigitalML Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04013647 (England and Wales)

Financial Statements for the Year Ended 31 December 2018

for

DIGITALML LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr J Sindall

SECRETARY:

Ms D Bentley

REGISTERED OFFICE:

2 Chepstow Place

London

W2 4TA

REGISTERED NUMBER:

04013647 (England and Wales)

ACCOUNTANTS:

THB LLP

1 & 2 Studley Court Mews

Studley Court

Guildford Road

Chobham

Surrey

GU24 8EB

FIXED ASSETS

Intangible assets

4

1,500,000

1,500,000

Tangible assets

5

45,863

37,892

1,545,863

1,537,892

CURRENT ASSETS

Debtors

6

2,203,520

2,516,596

Cash at bank

1,615,091

997,677

3,818,611

3,514,273

CREDITORS

Amounts falling due within one year

7

43,860

47,736

NET CURRENT ASSETS

3,774,751

3,466,537

TOTAL ASSETS LESS CURRENT LIABILITIES

5,320,614

5,004,429

CAPITAL AND RESERVES

Called up share capital

8

352,303

84,268

Share premium

9

2,279

2,279

Retained earnings

9

4,966,032

4,917,882

SHAREHOLDERS' FUNDS

5,320,614

5,004,429

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 22 September 2019 and were signed by:

Mr J Sindall - Director

1.	STATUTORY INFORMATION

DigitalML Limited is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Intellectual property are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on cost

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 14 (2017 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2018

and 31 December 2018

1,500,000

NET BOOK VALUE

At 31 December 2018

1,500,000

At 31 December 2017

1,500,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

233,133

Additions

24,289

At 31 December 2018

257,422

DEPRECIATION

At 1 January 2018

195,241

Charge for year

16,318

At 31 December 2018

211,559

NET BOOK VALUE

At 31 December 2018

45,863

At 31 December 2017

37,892

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

10,466

-

Other debtors

2,193,054

2,516,596

2,203,520

2,516,596

Included within other debtors is an amount of £2,063,146 (2017 : £2,175,455) owed by DigitalML USA Inc, a company

incorporated in the United State of America. DigitalML Limited owned 100% of the issued sharecapital of DigitalML USA

Inc.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

4,988

22,685

Taxation and social security

35,572

21,751

Other creditors

3,300

3,300

43,860

47,736

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

381,500

Ordinary A

1p

3,815

3,815

68,906

Ordinary B

1p

689

901

31,090,953

Ordinary C

1p

310,910

76,000

3,688,894

Ordinary D

1p

36,889

3,552

(31.12.17 - 355,212 )

352,303

84,268

The following shares were issued during the year for cash at par :

8,706 Ordinary B shares of 1p

23,610,329 Ordinary C shares of 1p

3,333,682 Ordinary D shares of 1p

9.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 January 2018

4,917,882

2,279

4,920,161

Profit for the year

336,333

336,333

Bonus share issue

(269,527

)

-

(269,527

)

Purchase of own shares

(18,656

)

-

(18,656

)

At 31 December 2018

4,966,032

2,279

4,968,311