Design ID Consulting Limited
Unaudited Filleted Accounts
31 March 2023
Registered number
NI606478
Design ID Consulting Limited
Registered number: NI606478
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 572,388 232,519
Current assets
Work in progress 468,945 386,527
Debtors 5 1,448,891 1,430,731
Cash at bank and in hand 145,197 317,387
2,063,033 2,134,645
Creditors: amounts falling due within one year 6 (632,824) (438,238)
Net current assets 1,430,209 1,696,407
Total assets less current liabilities 2,002,597 1,928,926
Creditors: amounts falling due after more than one year 7 (34,477) (53,122)
Provisions for liabilities (98,380) (53,008)
Net assets 1,869,740 1,822,796
Capital and reserves
Called up share capital 140 100
Profit and loss account 1,869,600 1,822,696
Shareholders' funds 1,869,740 1,822,796
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ian Douglas
Director
Approved by the Board on 21 December 2023
Design ID Consulting Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Long leasehold 10% straight line
Fixtures, fittings & equipment 15% reducing balance
Computer equipment 33% straight line
Motor vehicles 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 57 47
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 319,500
At 31 March 2023 319,500
Amortisation
At 1 April 2022 319,500
At 31 March 2023 319,500
Net book value
At 31 March 2023 -
Goodwill is fully written off having being amortised over an economic life of 5 years.
4 Tangible fixed assets
Long leasehold Fixtures, fittings & equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 143,232 442,357 52,640 638,229
Additions 257,635 183,721 - 441,356
At 31 March 2023 400,867 626,078 52,640 1,079,585
Depreciation
At 1 April 2022 78,417 313,781 13,512 405,710
Charge for the year 40,087 50,872 10,528 101,487
At 31 March 2023 118,504 364,653 24,040 507,197
Net book value
At 31 March 2023 282,363 261,425 28,600 572,388
At 31 March 2022 64,815 128,576 39,128 232,519
5 Debtors 2023 2022
£ £
Trade debtors 936,648 841,333
Other debtors 512,243 589,398
1,448,891 1,430,731
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,816 9,574
Obligations under finance lease and hire purchase contracts 8,829 8,222
Trade creditors 233,404 200,319
Taxation and social security costs 204,775 206,431
Other creditors 176,000 13,692
632,824 438,238
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 28,253 38,069
Obligations under finance lease and hire purchase contracts 6,224 15,053
34,477 53,122
8 Secured Debts
Northern Bank Limited hold an all monies floating charge over the company's assets as security for facilities held.
9 Other information
Design ID Consulting Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
23 Lisburn Road
Hillsborough
County Down
BT26 6AA
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