Design Specifics Limited
Design Specifics Limited
Registered number: 04959206
Financial Statements
For The Year Ended
31 December 2019
Gillespie's
Chartered Accountants
Design Specifics Limited
Financial Statements
For The Year Ended
31 December 2019
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Design Specifics Limited
Balance Sheet
As at
31 December 2019
Balance Sheet
Registered number:
04959206
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2019 | 2018 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 5 |
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| Investments | 6 |
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| CURRENT ASSETS | |||||
| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
( |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
( |
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| NET LIABILITIES |
( |
( |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Profit and Loss Account |
( |
( |
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| SHAREHOLDERS' FUNDS | (12,223) | (12,966) | |||
Page 1
Design Specifics Limited
Balance Sheet (continued)
As at
31 December 2019
Director's responsibilities
-
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
|
Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Design Specifics Limited
Notes to the Financial Statements
For The Year Ended
31 December 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
|
| Computer Equipment |
|
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2018: 1)
5.
Tangible Assets
| Plant & Machinery | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at
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| As at
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| Depreciation | |||
| As at
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| Provided during the period |
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| As at
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| Net Book Value | |||
| As at
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| As at
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Page 3
Design Specifics Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2019
6.
Investments
| Unlisted | |
|---|---|
| £ | |
| Cost | |
| As at
|
100 |
| Disposals | (100) |
| As at
|
- |
| Provision | |
| As at
|
- |
| As at
|
- |
| Net Book Value | |
| As at
|
- |
| As at
|
100 |
7.
Debtors
| 2019 | 2018 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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8.
Creditors: Amounts Falling Due Within One Year
| 2019 | 2018 | ||
|---|---|---|---|
| £ | £ | ||
| VAT |
|
- | |
| Accruals and deferred income |
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| Amounts owed to associated company |
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10.
Related Party Transactions
As at the Balance Sheet date the company owed £16,205 (2018 £18,205) to Energy Specifics Limited, a company in which Timothy Freeman is also a director and majority share holder.
11.
Ultimate Controlling Party
The company's ultimate controlling party is
Timothy Freeman
by virtue of his ownership of 100% of the issued share capital in the company.
Page 4
Design Specifics Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2019
12.
General Information
Design Specifics Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04959206
. The registered office is Vines Farm, Mill Lane, Pirbright, Surrey, GU24 0BS.
Page 5