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DESIGNER TOUCHES LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023






DESIGNER TOUCHES LIMITED (REGISTERED NUMBER: 06898391)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DESIGNER TOUCHES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2023







DIRECTOR: Mrs M Demetriou





REGISTERED OFFICE: 2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ





REGISTERED NUMBER: 06898391 (England and Wales)





ACCOUNTANTS: Halsey & Co (Accountants) Ltd.
Chartered Certified Accountants
Registered Auditors
2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ

DESIGNER TOUCHES LIMITED (REGISTERED NUMBER: 06898391)

BALANCE SHEET
31ST AUGUST 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,500
Tangible assets 5 3,042 2,566
3,042 4,066

CURRENT ASSETS
Stocks 6 14,122 13,128
Debtors 7 59,624 54,152
Cash at bank and in hand 25,684 17,649
99,430 84,929
CREDITORS
Amounts falling due within one year 8 96,818 84,216
NET CURRENT ASSETS 2,612 713
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,654

4,779

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5,554 4,679
SHAREHOLDERS' FUNDS 5,654 4,779

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

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

The director acknowledges her 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 31st January 2024 and were signed by:



Mrs M Demetriou - Director


DESIGNER TOUCHES LIMITED (REGISTERED NUMBER: 06898391)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023

1. STATUTORY INFORMATION

Designer Touches 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of eight years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 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.

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.

DESIGNER TOUCHES LIMITED (REGISTERED NUMBER: 06898391)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 2 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st September 2022
and 31st August 2023 40,000 6,000 46,000
AMORTISATION
At 1st September 2022 40,000 4,500 44,500
Charge for year - 1,500 1,500
At 31st August 2023 40,000 6,000 46,000
NET BOOK VALUE
At 31st August 2023 - - -
At 31st August 2022 - 1,500 1,500

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st September 2022 15,508 - 15,508
Additions - 1,489 1,489
At 31st August 2023 15,508 1,489 16,997
DEPRECIATION
At 1st September 2022 12,942 - 12,942
Charge for year 641 372 1,013
At 31st August 2023 13,583 372 13,955
NET BOOK VALUE
At 31st August 2023 1,925 1,117 3,042
At 31st August 2022 2,566 - 2,566

DESIGNER TOUCHES LIMITED (REGISTERED NUMBER: 06898391)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

6. STOCKS
31.8.23 31.8.22
£    £   
Stocks 14,122 13,128

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 13,387 16,641
Other debtors 288 671
Deferred tax asset 10,433 10,907
Prepayments 35,516 25,933
59,624 54,152

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 39,209 49,160
Trade creditors 25,169 5,188
Social security and other taxes 179 206
VAT 5,513 9,082
Other creditors 382 139
Directors' current accounts 4,568 2,129
Accruals and deferred income 2,798 2,312
Accrued expenses 19,000 16,000
96,818 84,216

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £4,568 (2022 - £2,128 to M Demetriou, the director and shareholder of the company.The amount is interest free and repayable on demand.