Designs For Life Ltd - Abbreviated accounts 16.3

Designs For Life Ltd - Abbreviated accounts 16.3


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REGISTERED NUMBER: 04025105 (England and Wales)











Abbreviated Unaudited Accounts for the Year Ended 31 July 2016

for

Designs For Life Ltd

Designs For Life Ltd (Registered number: 04025105)






Contents of the Abbreviated Accounts
for the Year Ended 31 July 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Designs For Life Ltd

Company Information
for the Year Ended 31 July 2016







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

Designs For Life Ltd (Registered number: 04025105)

Abbreviated Balance Sheet
31 July 2016

31.7.16 31.7.15
Notes £    £   
CURRENT ASSETS
Debtors 124,604 275,586
Cash at bank 118,613 75,128
243,217 350,714
CREDITORS
Amounts falling due within one year 128,606 207,756
NET CURRENT ASSETS 114,611 142,958
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,611

142,958

CAPITAL AND RESERVES
Called up share capital 2 3 3
Profit and loss account 114,608 142,955
SHAREHOLDERS' FUNDS 114,611 142,958

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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 26 April 2017 and were signed on its behalf by:





Mr R N Williams - Director


Designs For Life Ltd (Registered number: 04025105)

Notes to the Abbreviated Accounts
for the Year Ended 31 July 2016

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.


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

2. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.16 31.7.15
value: £    £   
3 Ordinary £1 3 3

3. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2016 and
31 July 2015:

31.7.16 31.7.15
£    £   
Mr R N Williams
Balance outstanding at start of year 3,221 2,765
Amounts advanced 50,925 20,476
Amounts repaid (49,900 ) (20,020 )
Balance outstanding at end of year 4,246 3,221

Other loans - to IFL £3,500 (2015 £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 - to TPM £18,125 (2015 £82,213 loan from them) is a loan to 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 (2015 £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 £39,485 (2015 £51,266) 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 £101,000 (2015 £206,000). The goods and services and management charges were supplied on
normal trading terms.

Patent fees and costs in the year includes £5,000 for services supplied by Ideas For Life Limited, a related
company as stated above. The services were supplied on normal trading terms