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Company Registration No. 05998066 (England and Wales)
Design Difference Limited Unaudited accounts for the year ended 28 February 2023
Design Difference Limited Unaudited accounts Contents
Page
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Design Difference Limited Company Information for the year ended 28 February 2023
Director
Ms A Deverill
Company Number
05998066 (England and Wales)
Registered Office
Clock Barn Little Baldon Oxford OX44 9PU
Accountants
MJ Bookkeeping Services Limited Unit 6 The Courtyard Milton Road Aylesbury Buckinghamshire HP21 7LZ
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Design Difference Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
20,471 
11,370 
Current assets
Inventories
318,039 
93,410 
Debtors
124,301 
175,242 
Cash at bank and in hand
146,700 
92,545 
589,040 
361,197 
Creditors: amounts falling due within one year
(490,745)
(339,009)
Net current assets
98,295 
22,188 
Total assets less current liabilities
118,766 
33,558 
Creditors: amounts falling due after more than one year
(22,500)
(32,496)
Net assets
96,266 
1,062 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
96,264 
1,060 
Shareholders' funds
96,266 
1,062 
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 October 2023 and were signed on its behalf by
Ms A Deverill Director Company Registration No. 05998066
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Design Difference Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Design Difference Limited is a private company, limited by shares, registered in England and Wales, registration number 05998066. The registered office is Clock Barn, Little Baldon, Oxford, OX44 9PU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Work in progress
Work in progress have been valued at cost including overhead expenses plus the proportion of attributable profit, estimated to be earned to the balance sheet date based on the stage of completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Computer equipment
25% reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Design Difference Limited Notes to the Accounts for the year ended 28 February 2023
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2022
8,999 
3,501 
8,128 
20,628 
Additions
- 
3,764 
11,366 
15,130 
At 28 February 2023
8,999 
7,265 
19,494 
35,758 
Depreciation
At 1 March 2022
2,250 
1,302 
5,706 
9,258 
Charge for the year
1,687 
894 
3,448 
6,029 
At 28 February 2023
3,937 
2,196 
9,154 
15,287 
Net book value
At 28 February 2023
5,062 
5,069 
10,340 
20,471 
At 28 February 2022
6,749 
2,199 
2,422 
11,370 
5
Inventories
2023 
2022 
£ 
£ 
Work in progress
318,039 
93,410 
318,039 
93,410 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
42,326 
142,443 
Accrued income and prepayments
690 
6,661 
Other debtors
81,285 
26,138 
124,301 
175,242 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
53,764 
43,757 
Trade creditors
336,082 
250,266 
Taxes and social security
27,256 
3,281 
Other creditors
13,375 
18,972 
Accruals
50,268 
12,733 
490,745 
339,009 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
22,500 
32,496 
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Design Difference Limited Notes to the Accounts for the year ended 28 February 2023
9
Average number of employees
During the year the average number of employees was 4 (2022: 3).
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