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REGISTERED NUMBER: 03265758 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 FEBRUARY 2023 TO 30 SEPTEMBER 2023

FOR

IDEAS BY DESIGN LIMITED

IDEAS BY DESIGN LIMITED (REGISTERED NUMBER: 03265758)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 1 February 2023 to 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IDEAS BY DESIGN LIMITED

COMPANY INFORMATION
for the period 1 February 2023 to 30 September 2023







DIRECTORS: Mrs R J Kitching
A J W Kitching
D R Pooley





REGISTERED OFFICE: Unit 3
Titan Business Centre
Spartan Close
Warwick
Warwickshire
CV34 6RR





REGISTERED NUMBER: 03265758 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

IDEAS BY DESIGN LIMITED (REGISTERED NUMBER: 03265758)

BALANCE SHEET
30 September 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 81,361 86,878
Tangible assets 5 55,705 63,281
137,066 150,159

CURRENT ASSETS
Stocks 500,607 529,787
Debtors 6 380,777 366,726
Cash at bank 174,863 226,255
1,056,247 1,122,768
CREDITORS
Amounts falling due within one year 7 921,898 715,464
NET CURRENT ASSETS 134,349 407,304
TOTAL ASSETS LESS CURRENT
LIABILITIES

271,415

557,463

CREDITORS
Amounts falling due after more than one
year

8

21,596

28,274
NET ASSETS 249,819 529,189

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 249,719 529,089
SHAREHOLDERS' FUNDS 249,819 529,189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

IDEAS BY DESIGN LIMITED (REGISTERED NUMBER: 03265758)

BALANCE SHEET - continued
30 September 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 Board of Directors and authorised for issue on 7 March 2024 and were signed on its behalf by:





A J W Kitching - Director


IDEAS BY DESIGN LIMITED (REGISTERED NUMBER: 03265758)

NOTES TO THE FINANCIAL STATEMENTS
for the period 1 February 2023 to 30 September 2023

1. STATUTORY INFORMATION

Ideas 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.

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.

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.

Patents and licences are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 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 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 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 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.

IDEAS BY DESIGN LIMITED (REGISTERED NUMBER: 03265758)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 February 2023 to 30 September 2023

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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 period was 9 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 February 2023
and 30 September 2023 165,457
AMORTISATION
At 1 February 2023 78,579
Amortisation for period 5,517
At 30 September 2023 84,096
NET BOOK VALUE
At 30 September 2023 81,361
At 31 January 2023 86,878

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 46,324 211,640 30,795 95,099 383,858
Additions - 2,150 - - 2,150
At 30 September 2023 46,324 213,790 30,795 95,099 386,008
DEPRECIATION
At 1 February 2023 21,336 191,817 24,322 83,102 320,577
Charge for period 3,089 3,439 1,079 2,119 9,726
At 30 September 2023 24,425 195,256 25,401 85,221 330,303
NET BOOK VALUE
At 30 September 2023 21,899 18,534 5,394 9,878 55,705
At 31 January 2023 24,988 19,823 6,473 11,997 63,281

IDEAS BY DESIGN LIMITED (REGISTERED NUMBER: 03265758)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 February 2023 to 30 September 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 197,666 180,368
Other debtors 45,706 45,706
Tax - 38,733
Prepayments 137,405 101,919
380,777 366,726

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Bank loans and overdrafts 9,973 9,808
Trade creditors 354,273 173,926
Amounts owed to group undertakings 488,562 200,000
Social security and other taxes 28,110 6,947
Other creditors 244 2,564
Accruals and deferred income 40,736 322,219
921,898 715,464

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2023
£    £   
Bank loans - 1-2 years 10,225 10,056
Bank loans - 2-5 years 11,371 18,218
21,596 28,274

9. CALLED UP SHARE CAPITAL

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

On 22nd July 2022 the entire share capital of the company was acquired by GD Holdings Limited, a company incorporated in England and Wales.

10. OTHER FINANCIAL COMMITMENTS

At 30 September 2023 the company had lease commitments totalling £nil (31 January 2023: £86,000).