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REGISTERED NUMBER: 12928540 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Patterstone Design Solutions Ltd

Patterstone Design Solutions Ltd (Registered number: 12928540)

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Patterstone Design Solutions Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: J W Johnstone



REGISTERED OFFICE: St. Petroc
Pirton Lane
Gloucester
GL3 2QN



REGISTERED NUMBER: 12928540 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: National Westminster Bank Plc
21 Eastgate Street
Gloucester
GL1 1NH

Patterstone Design Solutions Ltd (Registered number: 12928540)

Statement of Financial Position
31 October 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,384 22,479

CURRENT ASSETS
Stocks 54,000 -
Debtors 5 58,767 69,470
Cash at bank 71,963 7,307
184,730 76,777
CREDITORS
Amounts falling due within one year 6 105,952 66,601
NET CURRENT ASSETS 78,778 10,176
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,162

32,655

CREDITORS
Amounts falling due after more than one
year

7

(19,751

)

-

PROVISIONS FOR LIABILITIES (9,058 ) (3,917 )
NET ASSETS 89,353 28,738

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 89,352 28,737
SHAREHOLDERS' FUNDS 89,353 28,738

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

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

Patterstone Design Solutions Ltd (Registered number: 12928540)

Statement of Financial Position - continued
31 October 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 29 January 2024 and were signed by:





J W Johnstone - Director


Patterstone Design Solutions Ltd (Registered number: 12928540)

Notes to the Financial Statements
for the Year Ended 31 October 2023


1. STATUTORY INFORMATION

Patterstone Design Solutions Ltd 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 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 - 25% on reducing balance
Computer equipment - 33% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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 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.

Patterstone Design Solutions Ltd (Registered number: 12928540)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


2. ACCOUNTING POLICIES - continued

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.

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 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 November 2022 34,447 958 35,405
Additions 30,228 141 30,369
At 31 October 2023 64,675 1,099 65,774
Depreciation
At 1 November 2022 12,288 638 12,926
Charge for year 13,097 367 13,464
At 31 October 2023 25,385 1,005 26,390
Net book value
At 31 October 2023 39,290 94 39,384
At 31 October 2022 22,159 320 22,479

Patterstone Design Solutions Ltd (Registered number: 12928540)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
Cost
Additions 29,200
At 31 October 2023 29,200
Depreciation
Charge for year 7,300
At 31 October 2023 7,300
Net book value
At 31 October 2023 21,900

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Trade debtors 56,574 68,202
Other debtors 2,193 1,268
58,767 69,470

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Hire purchase contracts 4,723 -
Trade creditors 18,875 981
Taxation and social security 41,767 23,805
Other creditors 40,587 41,815
105,952 66,601

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/10/23 31/10/22
£    £   
Hire purchase contracts 19,751 -

8. RELATED PARTY DISCLOSURES

The Director
J W Johnstone

At 31 October 2023, the company owed the director £39,572 (2022 - £40,815). The loan from the director, included within other creditors, is interest free and repayable on demand.