Design Central (Bath) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03597376 (England and Wales)

DESIGN CENTRAL (BATH) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J D Davies

R D Thorpe

A Sage

SECRETARY:

R D Thorpe

REGISTERED OFFICE:

Suite 5 Bath Brewery

Toll Bridge Road

Bath

BA1 7DE

REGISTERED NUMBER:

03597376 (England and Wales)

ACCOUNTANT:

Clear Vision Accountancy Limited

1 Abacus House

Newlands Road

Corsham

Wiltshire

SN13 0BH

FIXED ASSETS

Tangible assets

4

103,762

46,726

Investments

5

10,915

-

114,677

46,726

CURRENT ASSETS

Debtors

6

1,070,274

998,558

Cash at bank

116,566

269,937

1,186,840

1,268,495

CREDITORS

Amounts falling due within one year

7

962,358

773,784

NET CURRENT ASSETS

224,482

494,711

TOTAL ASSETS LESS CURRENT LIABILITIES

339,159

541,437

CREDITORS

Amounts falling due after more than one year

8

(301,607

)

(459,973

)

PROVISIONS FOR LIABILITIES

(22,883

)

(6,406

)

NET ASSETS

14,669

75,058

CAPITAL AND RESERVES

Called up share capital

1,080

1,080

Retained earnings

9

13,589

73,978

14,669

75,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:

R D Thorpe - Director

1.	STATUTORY INFORMATION

Design Central (Bath) Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

10% on cost

Plant and machinery etc

-

33% on cost, 15% on cost and Straight line over 6 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors have assessed whether the company is a going concern and have considered all available information about the future and are confident of the company's ability to continue as a going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2022

1,308

212,368

213,676

Additions

-

79,214

79,214

At 30 June 2023

1,308

291,582

292,890

DEPRECIATION

At 1 July 2022

1,308

165,642

166,950

Charge for year

-

22,178

22,178

At 30 June 2023

1,308

187,820

189,128

NET BOOK VALUE

At 30 June 2023

-

103,762

103,762

At 30 June 2022

-

46,726

46,726

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 July 2022

58,950

Additions

58,000

Transfer to ownership

(58,950

)

At 30 June 2023

58,000

DEPRECIATION

At 1 July 2022

27,843

Charge for year

11,438

Transfer to ownership

(37,670

)

At 30 June 2023

1,611

NET BOOK VALUE

At 30 June 2023

56,389

At 30 June 2022

31,107

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

10,915

At 30 June 2023

10,915

NET BOOK VALUE

At 30 June 2023

10,915

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/23

30/6/22

£

£

Trade debtors

279,985

300,149

Amounts recoverable on contract

587,369

484,423

Other debtors

202,920

213,986

1,070,274

998,558

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/23

30/6/22

£

£

Bank loans and overdrafts

147,811

168,403

Hire purchase contracts

5,075

9,128

Trade creditors

37,382

38,322

Taxation and social security

154,380

73,478

Other creditors

617,710

484,453

962,358

773,784

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/6/23

30/6/22

£

£

Bank loans

259,105

441,299

Hire purchase contracts

42,502

18,674

301,607

459,973

9.

RESERVES

Retained

earnings

£

At 1 July 2022

73,978

Profit for the year

319,611

Dividends

(380,000

)

At 30 June 2023

13,589

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

30/6/23

30/6/22

£

£

M J D Davies

Balance outstanding at start of year

(127,922

)

(94,430

)

Amounts advanced

(219,398

)

(224,809

)

Amounts repaid

190,000

191,317

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(157,320

)

(127,922

)

R D Thorpe

Balance outstanding at start of year

(62,306

)

(59,288

)

Amounts advanced

(161,286

)

(193,015

)

Amounts repaid

190,000

189,997

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(33,592

)

(62,306

)

The Directors Loan Account balances are included in other debtors.

11.	POST BALANCE SHEET EVENTS

After the year end significant investment was made in the company. 8,640 £0.01 Ordinary shares were issued at a premium. The total investment received was £1,080,000.