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Registration number: 07121888

Digital Identity Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2017

Gordon Levy Limited
Chartered Accountants
Arthur House
Chorlton Street
Manchester
M1 3FH

 

Digital Identity Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

4 to 7

 

Digital Identity Limited

Company Information

Director

Peter Birkinshaw

Registered office

7 James Brindley Basin
Manchester
M1 2NL

Accountants

Gordon Levy Limited
Chartered Accountants
Arthur House
Chorlton Street
Manchester
M1 3FH

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Digital Identity Limited
for the Year Ended 31 January 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Digital Identity Limited for the year ended 31 January 2017 as set out on pages 3 to 7 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 Digital Identity Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Digital Identity Limited and state those matters that we have agreed to state to the Board of Directors of Digital Identity 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 Digital Identity Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Digital Identity Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Digital Identity Limited. You consider that Digital Identity 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 accounts of Digital Identity 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 accounts.

......................................

Gordon Levy Limited
Chartered Accountants
Arthur House
Chorlton Street
Manchester
M1 3FH

11 October 2017

 

Digital Identity Limited

(Registration number: 07121888)
Statement of Financial Position as at 31 January 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

4

3,375

506

Current assets

 

Debtors

5

656

4,600

Cash at bank and in hand

 

5,189

1,538

 

5,845

6,138

Creditors: Amounts falling due within one year

6

(1,597)

(8,725)

Net current assets/(liabilities)

 

4,248

(2,587)

Total assets less current liabilities

 

7,623

(2,081)

Provisions for liabilities

(545)

-

Net assets/(liabilities)

 

7,078

(2,081)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

7,077

(2,082)

Total equity

 

7,078

(2,081)

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

Director's 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 director acknowledges his 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 Income Statement has been taken.

Approved and authorised by the director on 11 October 2017
 

.........................................

Peter Birkinshaw

Director

 

Digital Identity Limited

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

1

General information

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

The address of its registered office is:
7 James Brindley Basin
Manchester
M1 2NL

These financial statements were authorised for issue by the director on 11 October 2017.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

33.33% straight line

Other property, plant and equipment

33.33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Digital Identity Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2016 - 1).

 

Digital Identity Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 February 2016

4,342

-

4,342

Additions

4,345

449

4,794

At 31 January 2017

8,687

449

9,136

Depreciation

At 1 February 2016

3,836

-

3,836

Charge for the year

1,775

150

1,925

At 31 January 2017

5,611

150

5,761

Carrying amount

At 31 January 2017

3,076

299

3,375

At 31 January 2016

506

-

506

5

Debtors

2017
£

2016
£

Trade debtors

-

4,600

Other debtors

656

-

Total current trade and other debtors

656

4,600

6

Creditors

Note

2017
£

2016
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

-

8,300

Other creditors

 

1,597

425

 

1,597

8,725

 

Digital Identity Limited

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

7

Related party transactions

Transactions with directors

2017

At 1 February 2016
£

Advances to directors
£

At 31 January 2017
£

Peter Birkinshaw

Amount owed from/(to) the director, repayable on demand at 0% interest

(8,300)

8,956

656

       
     

 

2016

At 1 February 2015
£

Advances to directors
£

At 31 January 2016
£

Peter Birkinshaw

Amount owed from/(to) the director, repayable on demand at 0% interest

(11,596)

3,296

(8,300)

       
     

 

8

Transition to FRS 102

There were no adjustments required to the financial statements due to the transition to FRS 102 Section 1A.