IRIS Accounts Production v23.4.0.336 05485789 director 1.8.22 31.7.23 31.7.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh054857892022-07-31054857892023-07-31054857892022-08-012023-07-31054857892021-07-31054857892021-08-012022-07-31054857892022-07-3105485789ns15:EnglandWales2022-08-012023-07-3105485789ns14:PoundSterling2022-08-012023-07-3105485789ns10:Director12022-08-012023-07-3105485789ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3105485789ns10:SmallEntities2022-08-012023-07-3105485789ns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3105485789ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3105485789ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3105485789ns10:FullAccounts2022-08-012023-07-310548578912022-08-012023-07-3105485789ns10:RegisteredOffice2022-08-012023-07-3105485789ns5:CurrentFinancialInstruments2023-07-3105485789ns5:CurrentFinancialInstruments2022-07-3105485789ns5:ShareCapital2023-07-3105485789ns5:ShareCapital2022-07-3105485789ns5:CapitalRedemptionReserve2023-07-3105485789ns5:CapitalRedemptionReserve2022-07-3105485789ns5:RetainedEarningsAccumulatedLosses2023-07-3105485789ns5:RetainedEarningsAccumulatedLosses2022-07-3105485789ns5:NetGoodwill2022-08-012023-07-3105485789ns5:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3105485789ns5:PlantMachinery2022-08-012023-07-3105485789ns5:NetGoodwill2022-07-3105485789ns5:NetGoodwill2023-07-3105485789ns5:NetGoodwill2022-07-3105485789ns5:PlantMachinery2022-07-3105485789ns5:PlantMachinery2023-07-3105485789ns5:PlantMachinery2022-07-3105485789ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3105485789ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-31
REGISTERED NUMBER: 05485789 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31st July 2023

for

Design 360 Ltd

Design 360 Ltd (Registered number: 05485789)






Contents of the Financial Statements
for the Year Ended 31st July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Design 360 Ltd

Company Information
for the Year Ended 31st July 2023







DIRECTOR: J M Baker





REGISTERED OFFICE: Unit 5 Home Farm Workshops
Mildenhall
Marlborough
Wiltshire
SN8 2LL





REGISTERED NUMBER: 05485789 (England and Wales)





ACCOUNTANTS: Bew & Co Limited
Chartered Accountants
130 High Street
Marlborough
Wiltshire
SN8 1LZ

Design 360 Ltd (Registered number: 05485789)

Balance Sheet
31st July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 33,864 22,076
33,864 22,076

CURRENT ASSETS
Stocks 64,000 64,000
Debtors 6 292,577 401,626
Investments 7 781,815 750,000
Cash at bank 1,080,328 812,833
2,218,720 2,028,459
CREDITORS
Amounts falling due within one year 8 220,485 185,800
NET CURRENT ASSETS 1,998,235 1,842,659
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,032,099

1,864,735

PROVISIONS FOR LIABILITIES 8,466 4,194
NET ASSETS 2,023,633 1,860,541

CAPITAL AND RESERVES
Called up share capital 51 51
Capital redemption reserve 50 50
Retained earnings 2,023,532 1,860,440
SHAREHOLDERS' FUNDS 2,023,633 1,860,541

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

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

Design 360 Ltd (Registered number: 05485789)

Balance Sheet - continued
31st July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5th April 2024 and were signed by:





J M Baker - Director


Design 360 Ltd (Registered number: 05485789)

Notes to the Financial Statements
for the Year Ended 31st July 2023

1. STATUTORY INFORMATION

Design 360 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 represents goods sold in the period and design services supplied, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of one 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 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 Statement of Income and Retained Earnings, 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.

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.

Design 360 Ltd (Registered number: 05485789)

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

2. ACCOUNTING POLICIES - continued

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 17 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2022
and 31st July 2023 10,000
AMORTISATION
At 1st August 2022
and 31st July 2023 10,000
NET BOOK VALUE
At 31st July 2023 -
At 31st July 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2022 275,811
Additions 25,074
At 31st July 2023 300,885
DEPRECIATION
At 1st August 2022 253,735
Charge for year 13,286
At 31st July 2023 267,021
NET BOOK VALUE
At 31st July 2023 33,864
At 31st July 2022 22,076

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 275,673 400,196
Other debtors 16,904 1,430
292,577 401,626

Design 360 Ltd (Registered number: 05485789)

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

7. CURRENT ASSET INVESTMENTS
31.7.23 31.7.22
£    £   
Listed investments 781,815 750,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 133,939 138,970
Taxation and social security 82,166 36,830
Other creditors 4,380 10,000
220,485 185,800