Public Digital Limited - Period Ending 2017-10-31

Registration number: 09819399

Public Digital Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2017

Lambert Chapman LLP
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Public Digital Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 5

Public Digital Limited

Company Information

Directors

T W F Loosemore B J Terrett A D Greenway M T Bracken

Registered office

9 Perseverance Works Kingsland Road London E2 8DD

Accountants

Lambert Chapman LLP 3 Warners Mill Silks Way Braintree Essex CM7 3GB

Page 1

Public Digital Limited

(Registration number: 09819399)
Balance Sheet as at 31 October 2017

	Note	2017 £	2016 £
Current assets
Stocks	4	12,727	21,075
Debtors	5	169,725	27,101
Cash at bank and in hand		317,706	105,051
		500,158	153,227
Creditors: Amounts falling due within one year	6	(79,436)	(37,342)
Net assets		420,722	115,885
Capital and reserves
Called up share capital		4	4
Profit and loss account		420,718	115,881
Total equity		420,722	115,885

For the financial year ended 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 July 2018 and signed on its behalf by:
 

B J Terrett

Director

The notes on pages 3 to 5 form an integral part of these financial statements.

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Public Digital Limited

Notes to the Financial Statements for the Year Ended 31 October 2017

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 9 Perseverance Works, Kingsland Road, London, E2 8DD.

The principal place of business is: 81 Rivington Street, London, EC2A 3AY.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are paid.

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Public Digital Limited

Notes to the Financial Statements for the Year Ended 31 October 2017

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2016 - 4).

4

Stocks

	2017 £	2016 £
Work in progress	12,727	21,075

5

Debtors

	2017 £	2016 £
Trade debtors	163,595	27,101
Other debtors	6,130	-
Total current trade and other debtors	169,725	27,101

6

Creditors

Creditors: amounts falling due within one year

	Note	2017  £	2016  £
Due within one year
Loans and borrowing	7	283	6,679
Corporation tax		77,663	29,163
Accruals and deferred income		1,490	1,500
		79,436	37,342

7	Loans and borrowings

	2017 £	2016 £
Current loans and borrowings
Directors loan	283	6,679

Page 4

Public Digital Limited

Notes to the Financial Statements for the Year Ended 31 October 2017

8	Transition to FRS 102

These financial statements for the period ended 31 October 2017 are the first financial statements of Public Digital Limited that comply with FRS 102 Section 1A. The date of transition is 12 October 2015.

There are no adjustments required to equity or profit.

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