Designs For Life Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 04025105 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 July 2015

for

Designs For Life Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr R N Williams

Mr P Richards

REGISTERED OFFICE:

Woodlands

London Road East

Amersham

Buckinghamshire

HP7 9DH

REGISTERED NUMBER:

04025105 (England and Wales)

ACCOUNTANTS:

C D Nash Limited

First Floor

15a Hill Avenue

Amersham

Buckinghamshire

HP6 5BD

FIXED ASSETS

Tangible assets

2

-

6,987

CURRENT ASSETS

Debtors

275,586

57,014

Cash at bank

75,128

97,293

350,714

154,307

CREDITORS

Amounts falling due within one year

207,756

86,496

NET CURRENT ASSETS

142,958

67,811

TOTAL ASSETS LESS CURRENT
LIABILITIES

142,958

74,798

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

142,955

74,796

SHAREHOLDERS' FUNDS

142,958

74,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 April 2016 and were signed on its behalf by:

Mr R N Williams - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

12,422

Disposals

(12,422

)

At 31 July 2015

-

DEPRECIATION

At 1 August 2014

5,435

Charge for year

1,747

Eliminated on disposal

(7,182

)

At 31 July 2015

-

NET BOOK VALUE

At 31 July 2015

-

At 31 July 2014

6,987

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.15

31.7.14

value:

£

3

Ordinary

£1

3

2

1 Ordinary share of £1 was allotted and fully paid for cash at par during the year.

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2015 and

31 July 2014:

31.7.15

31.7.14

£

Mr R N Williams

Balance outstanding at start of year

2,765

363

Amounts advanced

20,476

92,775

Amounts repaid

(20,020

)

(90,373

)

Balance outstanding at end of year

3,221

2,765

Other debtors includes a loan of £3,500 (2014 £3,200) 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 TPM £82,213 (2014 £49,392 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 IFP £10,200 (2014 £10,200) is a loan from Ideas For Parents Limited, a company owned by one of

the directors wives. The loan is interest free.

Purchases in the year includes £51,266 (2014 £37,551) 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 £206,000 (2014 £150,000). The goods and services and management charges were supplied on

normal trading terms.