2 false false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 178,941 3,649 182,590 176,016 1,643 177,659 4,931 2,925 xbrli:pure xbrli:shares iso4217:GBP 01342343 2022-07-01 2023-06-30 01342343 2023-06-30 01342343 2022-06-30 01342343 2021-07-01 2022-06-30 01342343 2022-06-30 01342343 2021-06-30 01342343 core:FurnitureFittings 2022-07-01 2023-06-30 01342343 bus:RegisteredOffice 2022-07-01 2023-06-30 01342343 bus:LeadAgentIfApplicable 2022-07-01 2023-06-30 01342343 bus:Director1 2022-07-01 2023-06-30 01342343 bus:CompanySecretary1 2022-07-01 2023-06-30 01342343 core:FurnitureFittings 2022-06-30 01342343 core:FurnitureFittings 2023-06-30 01342343 core:WithinOneYear 2023-06-30 01342343 core:WithinOneYear 2022-06-30 01342343 core:ShareCapital 2023-06-30 01342343 core:ShareCapital 2022-06-30 01342343 core:RetainedEarningsAccumulatedLosses 2023-06-30 01342343 core:RetainedEarningsAccumulatedLosses 2022-06-30 01342343 core:FurnitureFittings 2022-06-30 01342343 bus:SmallEntities 2022-07-01 2023-06-30 01342343 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 01342343 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 01342343 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 01342343 bus:FullAccounts 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 01342343
DARGIE LEWIS DESIGNS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 June 2023
DARGIE LEWIS DESIGNS LTD
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
DARGIE LEWIS DESIGNS LTD
OFFICERS AND PROFESSIONAL ADVISERS
Director
L Dargie
Company secretary
L Dargie
Registered office
Lynton House
7-12 Tavistock Square
London
WC1H 9BQ
Accountants
TC BSG Valentine Limited
Accountants
Lynton House
7-12 Tavistock Square
London
WC1H 9BQ
DARGIE LEWIS DESIGNS LTD
STATEMENT OF FINANCIAL POSITION
30 June 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
4,931
2,925
CURRENT ASSETS
Stocks
1,870
1,870
Debtors
6
26,972
22,512
Cash at bank and in hand
76,674
99,849
---------
---------
105,516
124,231
CREDITORS: amounts falling due within one year
7
( 19,389)
( 20,341)
---------
---------
NET CURRENT ASSETS
86,127
103,890
--------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
91,058
106,815
--------
---------
NET ASSETS
91,058
106,815
--------
---------
CAPITAL AND RESERVES
Called up share capital
40,100
40,100
Profit and loss account
50,958
66,715
--------
---------
SHAREHOLDERS FUNDS
91,058
106,815
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 3 April 2024 , and are signed on behalf of the board by:
L Dargie
Director
Company registration number: 01342343
DARGIE LEWIS DESIGNS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover represents net invoiced sales and commissions earned, excluding value added tax and after deducting amounts billed in advance to clients.
Income tax
Provision is made for deferred taxation using the liability method to take account of timing differences between the incidence of income and expenditure for taxation and accounting purposes except to the extent that the directors consider that a liability to taxation is unlikely to crystallise.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 3 ).
5. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 July 2022
178,941
178,941
Additions
3,649
3,649
---------
---------
At 30 June 2023
182,590
182,590
---------
---------
Depreciation
At 1 July 2022
176,016
176,016
Charge for the year
1,643
1,643
---------
---------
At 30 June 2023
177,659
177,659
---------
---------
Carrying amount
At 30 June 2023
4,931
4,931
---------
---------
At 30 June 2022
2,925
2,925
---------
---------
6. Debtors
2023
2022
£
£
Trade debtors
16,145
1,344
Other debtors
10,827
21,168
--------
--------
26,972
22,512
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,066
2,545
Corporation tax
876
7,546
Social security and other taxes
11,381
6,135
Other creditors
1,066
4,115
--------
--------
19,389
20,341
--------
--------
8. Director's advances, credits and guarantees
At the balance sheet date the director owed £9,848 (2022: £9,953 was owed) to the company.