Designers Anonymous Limited
Designers Anonymous Limited
Registered number: 04837033
Unaudited Financial Statements
For The Year Ended
31 July 2021
ChadSan Limited
Castle House
Castle Street
Guildford
Surrey
GU1 3UW
Designers Anonymous Limited
Unaudited Financial Statements
For The Year Ended
31 July 2021
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Statement of Changes in Equity | 3 |
| Notes to the Financial Statements | 4—6 |
Designers Anonymous Limited
Balance Sheet
As at
31 July 2021
Balance Sheet
Registered number:
04837033
For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 4 |
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| Tangible Assets | 5 |
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| CURRENT ASSETS | |||||
| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 26,350 | 30,322 | |||
Designers Anonymous Limited
Balance Sheet (continued)
As at
31 July 2021
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
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Director
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The notes on pages 4 to 6 form part of these financial statements.
Designers Anonymous Limited
Statement of Changes in Equity
For The Year Ended
31 July 2021
Statement of Changes in Equity
| Share Capital | Profit and Loss Account | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at 1 August 2019 |
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30,533 |
| Loss for the year and total comprehensive income | - |
( |
(211) |
| As at 31 July 2020 and 1 August 2020 |
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30,322 |
| Loss for the year and total comprehensive income | - |
( |
(3,972) |
| As at
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26,350 |
Designers Anonymous Limited
Notes to the Financial Statements
For The Year Ended
31 July 2021
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 FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
As at the balance sheet date the company has net liabilities. These financial statements have been prepared on the going concern basis, on the understanding that the director and shareholder will continue to support the company for the foreseeable future.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4.
Intangible Fixed Assets and Amortisation - Other Intangible
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.
Patents and licences are being amortised evenly over their estimated useful life of 14 years and 10 years, respectively.
1.5.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 |
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1.6.
Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2020: 1)
Designers Anonymous Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 July 2021
4.
Intangible Assets
| Other | |||
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| £ | |||
| Cost | |||
| As at
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| Disposals |
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| Amortisation | |||
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| Provided during the period |
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| Disposals |
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| Net Book Value | |||
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5.
Tangible Assets
| Plant & Machinery | |
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| £ | |
| Cost | |
| As at
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| Additions |
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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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| Net Book Value | |
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| As at
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Designers Anonymous Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 July 2021
6.
Debtors
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors | 13,024 | 3,089 | |
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7.
Creditors: Amounts Falling Due Within One Year
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Other creditors | 1,377 | 2,473 | |
| Taxation and social security | 1,057 | 402 | |
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8.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr Darren Barber |
( |
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- |
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The above loan is unsecured, interest free and repayable on demand.
9.
Related Party Transactions
A loan to a connected company totalling £2,295 was written off at the year end. The write off of this loan was tax neutral. The loan was non-interest bearing and unsecured.
10.
Ultimate Controlling Party
The company's ultimate controlling party is
Mr D Barber
by virtue of his ownership of 100% of the issued share capital in the company.