3 false false false false false false false false false true false false false false false false No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 11,608 562 12,170 7,497 1,033 8,530 3,640 4,111 xbrli:pure xbrli:shares iso4217:GBP 06852549 2021-04-01 2022-03-31 06852549 2022-03-31 06852549 2021-03-31 06852549 2020-04-01 2021-03-31 06852549 2021-03-31 06852549 bus:Director1 2021-04-01 2022-03-31 06852549 core:WithinOneYear 2022-03-31 06852549 core:WithinOneYear 2021-03-31 06852549 core:ShareCapital 2022-03-31 06852549 core:ShareCapital 2021-03-31 06852549 core:RetainedEarningsAccumulatedLosses 2022-03-31 06852549 core:RetainedEarningsAccumulatedLosses 2021-03-31 06852549 bus:SmallEntities 2021-04-01 2022-03-31 06852549 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 06852549 bus:FullAccounts 2021-04-01 2022-03-31 06852549 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 06852549 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 06852549 core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 06852549 core:FurnitureFittingsToolsEquipment 2021-03-31 06852549 core:FurnitureFittingsToolsEquipment 2022-03-31
COMPANY REGISTRATION NUMBER: 06852549
PD Design Ltd
Filleted Unaudited Financial Statements
31 March 2022
PD Design Ltd
Financial Statements
Year ended 31 March 2022
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
PD Design Ltd
Statement of Financial Position
31 March 2022
2022
2021
Note
£
£
£
Fixed assets
Tangible assets
5
3,640
4,111
Current assets
Debtors
6
19,473
17,340
Cash at bank and in hand
75,631
66,824
--------
--------
95,104
84,164
Creditors: amounts falling due within one year
7
28,301
23,792
--------
--------
Net current assets
66,803
60,372
--------
--------
Total assets less current liabilities
70,443
64,483
Provisions
Taxation including deferred tax
2,029
781
--------
--------
Net assets
68,414
63,702
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
68,314
63,602
--------
--------
Shareholders funds
68,414
63,702
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PD Design Ltd
Statement of Financial Position (continued)
31 March 2022
These financial statements were approved by the board of directors and authorised for issue on 5 September 2022 , and are signed on behalf of the board by:
P A Mercer
Director
Company registration number: 06852549
PD Design Ltd
Notes to the Financial Statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Helding Close, Broomfield, Herne Bay, Kent, CT6 7EF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2021: 2 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2021
11,608
11,608
Additions
562
562
--------
--------
At 31 March 2022
12,170
12,170
--------
--------
Depreciation
At 1 April 2021
7,497
7,497
Charge for the year
1,033
1,033
--------
--------
At 31 March 2022
8,530
8,530
--------
--------
Carrying amount
At 31 March 2022
3,640
3,640
--------
--------
At 31 March 2021
4,111
4,111
--------
--------
6. Debtors
2022
2021
£
£
Trade debtors
19,473
17,340
--------
--------
7. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
1,107
Corporation tax
11,129
10,998
Social security and other taxes
11,099
10,461
Other creditors
4,966
2,333
--------
--------
28,301
23,792
--------
--------
8. Related party transactions
At the year end the company owed the director £55 (2021: £75).