Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue15152022-05-01No description of principal activitytrue 01894019 2022-05-01 2023-04-30 01894019 2021-05-01 2022-04-30 01894019 2023-04-30 01894019 2022-04-30 01894019 c:Director2 2022-05-01 2023-04-30 01894019 d:MotorVehicles 2022-05-01 2023-04-30 01894019 d:MotorVehicles 2023-04-30 01894019 d:MotorVehicles 2022-04-30 01894019 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01894019 d:FurnitureFittings 2022-05-01 2023-04-30 01894019 d:FurnitureFittings 2023-04-30 01894019 d:FurnitureFittings 2022-04-30 01894019 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01894019 d:OfficeEquipment 2022-05-01 2023-04-30 01894019 d:OfficeEquipment 2023-04-30 01894019 d:OfficeEquipment 2022-04-30 01894019 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01894019 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01894019 d:CurrentFinancialInstruments 2023-04-30 01894019 d:CurrentFinancialInstruments 2022-04-30 01894019 d:Non-currentFinancialInstruments 2023-04-30 01894019 d:Non-currentFinancialInstruments 2022-04-30 01894019 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 01894019 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 01894019 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 01894019 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 01894019 d:ShareCapital 2023-04-30 01894019 d:ShareCapital 2022-04-30 01894019 d:RetainedEarningsAccumulatedLosses 2023-04-30 01894019 d:RetainedEarningsAccumulatedLosses 2022-04-30 01894019 c:OrdinaryShareClass1 2022-05-01 2023-04-30 01894019 c:OrdinaryShareClass1 2023-04-30 01894019 c:OrdinaryShareClass1 2022-04-30 01894019 c:FRS102 2022-05-01 2023-04-30 01894019 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 01894019 c:FullAccounts 2022-05-01 2023-04-30 01894019 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 01894019 2 2022-05-01 2023-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01894019









TERENCE DISDALE DESIGN LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023



 
TERENCE DISDALE DESIGN LIMITED
REGISTERED NUMBER: 01894019

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
189,592
145,205

  
189,592
145,205

Current assets
  

Stocks
  
275,149
954,863

Debtors: amounts falling due within one year
 5 
3,958,501
9,055,437

Cash at bank and in hand
  
2,140,180
8,336,161

  
6,373,830
18,346,461

Creditors: amounts falling due within one year
 6 
(2,855,715)
(15,631,735)

Net current assets
  
 
 
3,518,115
 
 
2,714,726

Total assets less current liabilities
  
3,707,707
2,859,931

Creditors: amounts falling due after more than one year
 7 
(68,326)
-

  

Net assets
  
3,639,381
2,859,931


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
3,639,281
2,859,831

  
3,639,381
2,859,931


Page 1

 
TERENCE DISDALE DESIGN LIMITED
REGISTERED NUMBER: 01894019
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2023

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 December 2023.




................................................
D Zulli
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
TERENCE DISDALE DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Terence Disdale Design Limited is a private Company limited by shares and incorporated in England and Wales. The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH. 
The principal activity of the Company is that of yacht design and ancillary services. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
TERENCE DISDALE DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
TERENCE DISDALE DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance method
Fixtures and fittings
-
25%
reducing balance method
Office equipment
-
25%
reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
TERENCE DISDALE DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2022 - 15).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2022
39,000
331,811
429,753
800,564


Additions
106,133
-
-
106,133


Disposals
(39,000)
-
-
(39,000)



At 30 April 2023

106,133
331,811
429,753
867,697



Depreciation


At 1 May 2022
10,969
253,711
390,679
655,359


Charge for the year on owned assets
4,422
19,525
9,768
33,715


Disposals
(10,969)
-
-
(10,969)



At 30 April 2023

4,422
273,236
400,447
678,105



Net book value



At 30 April 2023
101,711
58,575
29,306
189,592



At 30 April 2022
28,031
78,100
39,074
145,205


5.


Debtors

2023
2022
£
£


Trade debtors
531,608
4,582,596

Amounts owed by group undertakings
2,601,334
1,982,880

Other debtors
708,748
2,261,996

Prepayments and accrued income
116,811
227,965

3,958,501
9,055,437


Page 6

 
TERENCE DISDALE DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
387,474
799,442

Amounts owed to group undertakings
1,238,104
1,224,849

Corporation tax
163,678
301,863

Other taxation and social security
43,405
48,557

Obligations under finance lease and hire purchase contracts
12,871
-

Other creditors
83,513
92,758

Accruals and deferred income
926,670
13,164,266

2,855,715
15,631,735



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
68,326
-

68,326
-



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



9.


Pension commitments

The Company operates a defined contribution pension scheme for the employees. During the year
premiums paid by the Company amounted to £5,491 : £11,222. There were no premiums
outstanding at the balance sheet date. Contributions totaling £nil (2022: £2,209) were payable to the fund at the reporting date and are included in creditors.

Page 7

 
TERENCE DISDALE DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

10.


Ultimate controlling party and Related party transactions

The Company is under the immediate control of Disdale Holdings Limited and the ultimate controlling party is T. Disdale, a director of this company.
As the Company is a wholly owned subsidiary of Disdale Holdings Limited, the company has taken advantage of the exemption contained in FRS102.33 and has therefore not disclosed transactions on balances with entities which form part of the group. 

 
Page 8