Designs For Life Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 04025105 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2018

for

Designs For Life Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

Mr R N Williams

Mr P Richards

REGISTERED OFFICE:

Rutland Mount

12 Elmore Road

Sheffield

S10 1BY

REGISTERED NUMBER:

04025105 (England and Wales)

ACCOUNTANTS:

C D Nash Limited

First Floor

15a Hill Avenue

Amersham

Buckinghamshire

HP6 5BD

CURRENT ASSETS

Debtors

3

73,546

159,564

Cash at bank

144,864

226,503

218,410

386,067

CREDITORS

Amounts falling due within one year

4

155,902

244,304

NET CURRENT ASSETS

62,508

141,763

TOTAL ASSETS LESS CURRENT
LIABILITIES

62,508

141,763

CAPITAL AND RESERVES

Called up share capital

5

3

Retained earnings

6

62,505

141,760

SHAREHOLDERS' FUNDS

62,508

141,763

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 25 April 2019 and were signed on its behalf by:

Mr R N Williams - Director

1.	STATUTORY INFORMATION

Designs For Life Ltd 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 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.

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.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

Trade debtors

19,759

34,446

Other debtors

43,529

101,575

Other loans - to TPM

-

13,285

Other loans - to IFL

3,500

Directors' current accounts

6,758

73,546

159,564

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

Other loans - from TPM

76,870

-

Other loans - from IFP

300

Trade creditors

4,223

92,528

Tax

9,105

VAT

46,650

61,034

Other creditors

18,754

81,337

155,902

244,304

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.18

31.7.17

value:

£

3

Ordinary

£1

3

6.

RESERVES

Retained

earnings

£

At 1 August 2017

141,760

Deficit for the year

(59,257

)

Dividends

(19,998

)

At 31 July 2018

62,505

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2018 and

31 July 2017:

31.7.18

31.7.17

£

Mr R N Williams

Balance outstanding at start of year

6,728

4,246

Amounts advanced

30

21,728

Amounts repaid

-

(19,246

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

6,758

6,728

8.	RELATED PARTY DISCLOSURES

Other loans - to IFL £3,500 (2017 £3,500) is a loan to Ideas For Life Limited, a company which is jointly owned

by the directors, who are also directors of that company. The loan is interest free.

Other loans - from TPM £76,870 (2017 £13,285 loan to them - other debtors) is a loan from TPM Childwise

Limited, a company which is jointly owned by the directors, who are also directors of that company. The loan is

interest free.

Other loans - from IFP £300 (2017 £300) is a loan from Ideas For Parents Limited, a company owned by one of

the directors wives. The loan is interest free.

Sales in the year includes £Nil (2017 £51,500) for goods and services supplied to TPM Childwise Limited, a

related company as stated above. Purchases in the year includes £54,915 (2017 £47,925) for goods and services

supplied by TPM Childwise Limited, a related company as stated above. There are also management charges

from TPM Childwise Limited in the year of £119,568 (2017 £230,394). The goods and services and

management charges were supplied on normal trading terms.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Designs For Life Ltd for the year ended 31 July 2018 which comprise the Income Statement,

Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Designs For Life Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Designs For Life Ltd and state those matters that we have agreed to state to the Board of Directors of Designs For Life Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Designs For Life Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Designs For Life Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Designs For Life Ltd. You consider that Designs For Life Ltd 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 financial statements of Designs For Life Ltd. 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 financial statements.

C D Nash Limited

First Floor

15a Hill Avenue

Amersham

Buckinghamshire

HP6 5BD

25 April 2019

Designs For Life Ltd - Accounts to registrar (filleted) - small 18.2

Designs For Life Ltd - Accounts to registrar (filleted) - small 18.2