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REGISTERED NUMBER: 05137435 (England and Wales)








Unaudited Financial Statements

For The Year Ended 31 May 2023

for

Services Design Solution Ltd

Services Design Solution Ltd (Registered number: 05137435)






Contents of the Financial Statements
For The Year Ended 31 May 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Services Design Solution Ltd (Registered number: 05137435)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 236,712 190,761

CURRENT ASSETS
Stocks 500,919 132,121
Debtors 5 1,929,968 1,033,678
Cash at bank 1,653,875 1,403,467
4,084,762 2,569,266
CREDITORS
Amounts falling due within one year 6 1,474,076 815,480
NET CURRENT ASSETS 2,610,686 1,753,786
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,847,398

1,944,547

CREDITORS
Amounts falling due after more than one
year

7

(24,937

)

(38,390

)

PROVISIONS FOR LIABILITIES (35,878 ) (42,773 )
NET ASSETS 2,786,583 1,863,384

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 2,786,483 1,863,284
SHAREHOLDERS' FUNDS 2,786,583 1,863,384

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 19 October 2023 and were signed by:




S Hoppins - Director


Services Design Solution Ltd (Registered number: 05137435)

Notes to the Financial Statements
For The Year Ended 31 May 2023

1. STATUTORY INFORMATION

Services Design Solution Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05137435

Registered office: 20-23 Mary Seacole Road
The Millfields
Plymouth
Devon
PL1 3JY

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 represents net invoiced sales of services excluding value added tax. Turnover is recognised when services are provided to the customer. Amounts received in advance of services being provided are adjusted within the work in progress computation.

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 - in accordance with the property
Plant and machinery etc - 33% on cost, 20% on reducing balance and 10% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Services Design Solution Ltd (Registered number: 05137435)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 76 (2022 - 71 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 1,271 828,232 829,503
Additions - 133,204 133,204
Disposals - (23,087 ) (23,087 )
At 31 May 2023 1,271 938,349 939,620
DEPRECIATION
At 1 June 2022 - 638,741 638,741
Charge for year - 87,254 87,254
Eliminated on disposal - (23,087 ) (23,087 )
At 31 May 2023 - 702,908 702,908
NET BOOK VALUE
At 31 May 2023 1,271 235,441 236,712
At 31 May 2022 1,271 189,491 190,762

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2022 142,336
Additions 46,063
Disposals (21,367 )
At 31 May 2023 167,032
DEPRECIATION
At 1 June 2022 73,398
Charge for year 39,475
Eliminated on disposal (21,367 )
At 31 May 2023 91,506
NET BOOK VALUE
At 31 May 2023 75,526
At 31 May 2022 68,938

Services Design Solution Ltd (Registered number: 05137435)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 1,785,424 927,559
Other debtors 144,544 106,119
1,929,968 1,033,678

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Finance leases (see note 8) 50,725 24,194
Trade creditors 112,582 43,021
Taxation and social security 644,238 460,483
Other creditors 666,531 287,782
1,474,076 815,480

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.23 31.5.22
£    £   
Finance leases (see note 8) 24,937 38,390

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
31.5.23 31.5.22
£    £   
Net obligations repayable:
Within one year 50,725 24,194
Between one and five years 24,937 38,390
75,662 62,584

Non-cancellable operating leases
31.5.23 31.5.22
£    £   
Within one year 22,304 51,579
Between one and five years - 24,625
22,304 76,204