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REGISTERED NUMBER: 03188049 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2023

FOR

DUCTWORK BY DESIGN LIMITED

DUCTWORK BY DESIGN LIMITED (REGISTERED NUMBER: 03188049)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DUCTWORK BY DESIGN LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2023







DIRECTOR: Mr P C Etty





REGISTERED OFFICE: Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 03188049 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

DUCTWORK BY DESIGN LIMITED (REGISTERED NUMBER: 03188049)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 76,767 45,661

CURRENT ASSETS
Stocks 5 52,666 75,063
Debtors 6 1,051,685 774,308
Cash at bank and in hand 403,949 494,237
1,508,300 1,343,608
CREDITORS
Amounts falling due within one year 7 374,951 348,295
NET CURRENT ASSETS 1,133,349 995,313
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,210,116

1,040,974

CREDITORS
Amounts falling due after more than one
year

8

(4,810

)

(8,016

)

PROVISIONS FOR LIABILITIES 9 (9,001 ) (9,001 )
NET ASSETS 1,196,305 1,023,957

CAPITAL AND RESERVES
Called up share capital 10 100 100
Special reserve 100 100
Retained earnings 1,196,105 1,023,757
SHAREHOLDERS' FUNDS 1,196,305 1,023,957

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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.

DUCTWORK BY DESIGN LIMITED (REGISTERED NUMBER: 03188049)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 12 July 2023 and were signed by:





Mr P C Etty - Director


DUCTWORK BY DESIGN LIMITED (REGISTERED NUMBER: 03188049)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2023


1. STATUTORY INFORMATION

Ductwork By Design 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In preparing the financial statements, the directors are required to make estimates and judgements about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the directors to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

DUCTWORK BY DESIGN LIMITED (REGISTERED NUMBER: 03188049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Financial assets that are measured at cost and amortized cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognized in profit or loss.

For financial assets measured at amortized cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

TAXATION
Taxation for the period 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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

DUCTWORK BY DESIGN LIMITED (REGISTERED NUMBER: 03188049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 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.

CASH RESERVES
The company is actively reserving cash deposits to provide for its future expansion

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - 18 ).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 October 2022 145,090 123,246 44,335 312,671
Additions 35,150 - - 35,150
At 31 March 2023 180,240 123,246 44,335 347,821
Depreciation
At 1 October 2022 128,942 106,103 31,965 267,010
Charge for period 1,211 1,286 1,547 4,044
At 31 March 2023 130,153 107,389 33,512 271,054
Net book value
At 31 March 2023 50,087 15,857 10,823 76,767
At 30 September 2022 16,148 17,143 12,370 45,661

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
Cost
At 1 October 2022
and 31 March 2023 28,500
Depreciation
At 1 October 2022 16,190
Charge for period 1,539
At 31 March 2023 17,729
Net book value
At 31 March 2023 10,771
At 30 September 2022 12,310

DUCTWORK BY DESIGN LIMITED (REGISTERED NUMBER: 03188049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2023


5. STOCKS
2023 2022
£    £   
Stocks 52,666 75,063

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 297,287 490,166
Amounts owed by group undertakings 733,336 261,533
Other debtors 21,062 22,609
1,051,685 774,308

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 139,395 50,971
Trade creditors 137,752 207,347
Taxation and social security 87,629 72,351
Other creditors 10,175 17,626
374,951 348,295

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 4,810 8,016

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 9,001 9,001

Deferred
tax
£   
Balance at 1 October 2022 9,001
Movement in the year
Balance at 31 March 2023 9,001

DUCTWORK BY DESIGN LIMITED (REGISTERED NUMBER: 03188049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2023


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100