IRIS Accounts Production v23.2.0.158 10250575 Board of Directors 1.3.22 28.2.23 28.2.23 0 0 false true false false true false A Ordinary 1.00000 B Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure102505752022-02-28102505752023-02-28102505752022-03-012023-02-28102505752021-02-28102505752021-03-012022-02-28102505752022-02-2810250575ns16:EnglandWales2022-03-012023-02-2810250575ns15:PoundSterling2022-03-012023-02-2810250575ns11:Director12022-03-012023-02-2810250575ns11:PrivateLimitedCompanyLtd2022-03-012023-02-2810250575ns11:SmallEntities2022-03-012023-02-2810250575ns11:AuditExempt-NoAccountantsReport2022-03-012023-02-2810250575ns11:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2810250575ns11:SmallCompaniesRegimeForAccounts2022-03-012023-02-2810250575ns11:FullAccounts2022-03-012023-02-2810250575ns11:OrdinaryShareClass12022-03-012023-02-2810250575ns11:OrdinaryShareClass22022-03-012023-02-2810250575ns11:Director22022-03-012023-02-2810250575ns11:RegisteredOffice2022-03-012023-02-2810250575ns6:CurrentFinancialInstruments2023-02-2810250575ns6:CurrentFinancialInstruments2022-02-2810250575ns6:Non-currentFinancialInstruments2023-02-2810250575ns6:Non-currentFinancialInstruments2022-02-2810250575ns6:ShareCapital2023-02-2810250575ns6:ShareCapital2022-02-2810250575ns6:RetainedEarningsAccumulatedLosses2023-02-2810250575ns6:RetainedEarningsAccumulatedLosses2022-02-2810250575ns6:LandBuildings2022-02-2810250575ns6:LeaseholdImprovements2022-02-2810250575ns6:PlantMachinery2022-02-2810250575ns6:LandBuildings2022-03-012023-02-2810250575ns6:LeaseholdImprovements2022-03-012023-02-2810250575ns6:PlantMachinery2022-03-012023-02-2810250575ns6:LandBuildings2023-02-2810250575ns6:LeaseholdImprovements2023-02-2810250575ns6:PlantMachinery2023-02-2810250575ns6:LandBuildings2022-02-2810250575ns6:LeaseholdImprovements2022-02-2810250575ns6:PlantMachinery2022-02-2810250575ns6:FurnitureFittings2022-02-2810250575ns6:ComputerEquipment2022-02-2810250575ns6:FurnitureFittings2022-03-012023-02-2810250575ns6:ComputerEquipment2022-03-012023-02-2810250575ns6:FurnitureFittings2023-02-2810250575ns6:ComputerEquipment2023-02-2810250575ns6:FurnitureFittings2022-02-2810250575ns6:ComputerEquipment2022-02-2810250575ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-2810250575ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-2810250575ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-02-2810250575ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-02-2810250575ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-02-2810250575ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-02-2810250575ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2023-02-2810250575ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2022-02-2810250575ns11:OrdinaryShareClass12023-02-2810250575ns11:OrdinaryShareClass22023-02-2810250575ns6:RetainedEarningsAccumulatedLosses2022-02-2810250575ns6:RetainedEarningsAccumulatedLosses2022-03-012023-02-28
REGISTERED NUMBER: 10250575 (England and Wales)







Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Design 4 Life Property Limited

Design 4 Life Property Limited (Registered number: 10250575)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Design 4 Life Property Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr M I Younger
Mrs T Younger





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY





REGISTERED NUMBER: 10250575 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Design 4 Life Property Limited (Registered number: 10250575)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 816,872 835,600

CURRENT ASSETS
Debtors 5 2,269 4,185
Cash at bank 20,650 36,612
22,919 40,797
CREDITORS
Amounts falling due within one year 6 550,635 547,829
NET CURRENT LIABILITIES (527,716 ) (507,032 )
TOTAL ASSETS LESS CURRENT LIABILITIES 289,156 328,568

CREDITORS
Amounts falling due after more than one year 7 (408,123 ) (448,613 )

PROVISIONS FOR LIABILITIES (1,959 ) (2,390 )
NET LIABILITIES (120,926 ) (122,435 )

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 9 (121,126 ) (122,635 )
SHAREHOLDERS' FUNDS (120,926 ) (122,435 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by:



Mr M I Younger - Director


Design 4 Life Property Limited (Registered number: 10250575)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Design 4 Life Property 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 rent receivable excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold Property - 2% on reducing balance
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Going concern
The company is reliant on the support of its director and shareholders and having made appropriate enquiries, the director has considered the future cashflow of the company and is not aware of any reason why the company will not be able to meet its liabilities as they fall due for the foreseeable future. As a result the director has continued to adopt the going concern basis.

3. EMPLOYEES AND DIRECTORS

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

Design 4 Life Property Limited (Registered number: 10250575)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 March 2022 929,086 11,310 24,056
Additions - - 895
At 28 February 2023 929,086 11,310 24,951
DEPRECIATION
At 1 March 2022 106,063 8,589 18,295
Charge for year 16,460 680 1,459
At 28 February 2023 122,523 9,269 19,754
NET BOOK VALUE
At 28 February 2023 806,563 2,041 5,197
At 28 February 2022 823,023 2,721 5,761

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2022 16,250 1,180 981,882
Additions - - 895
At 28 February 2023 16,250 1,180 982,777
DEPRECIATION
At 1 March 2022 12,431 904 146,282
Charge for year 955 69 19,623
At 28 February 2023 13,386 973 165,905
NET BOOK VALUE
At 28 February 2023 2,864 207 816,872
At 28 February 2022 3,819 276 835,600

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Tax - 2,674
Prepayments 2,269 1,511
2,269 4,185

Design 4 Life Property Limited (Registered number: 10250575)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 39,854 39,218
VAT 5,558 3,537
Design 4 Life 502,939 502,939
Directors' current accounts 624 624
Accrued expenses 1,660 1,511
550,635 547,829

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans - 1-2 years 39,854 39,218
Bank loans - 2-5 years 119,562 117,653
Bank loans more 5 yr by instal 248,707 291,742
408,123 448,613

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 248,707 291,742

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 'A' Ordinary £1 100 100
100 'B' Ordinary £1 100 100
200 200

9. RESERVES
Retained
earnings
£   

At 1 March 2022 (122,635 )
Profit for the year 1,509
At 28 February 2023 (121,126 )