2022-06-012023-05-312023-05-31false12023971ECONOMICS BY DESIGN 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ECONOMICS BY DESIGN LTD

Registered Number
12023971
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

ECONOMICS BY DESIGN LTD
Company Information
for the year from 1 June 2022 to 31 May 2023

Directors

MALLENDER, Adrian Charles
MALLENDER, Jacqueline Anne
MALLENDER, Joe Alexander

Registered Address

128 City Road
London
EC1V 2NX

Registered Number

12023971 (England and Wales)
ECONOMICS BY DESIGN LTD
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets512,73111,256
12,73111,256
Current assets
Debtors623,5252,826
Cash at bank and on hand78,55379,993
102,07882,819
Creditors amounts falling due within one year7(30,429)(63,946)
Net current assets (liabilities)71,64918,873
Total assets less current liabilities84,38030,129
Provisions for liabilities8(2,419)(1,268)
Net assets81,96128,861
Capital and reserves
Called up share capital22
Profit and loss account81,95928,859
Shareholders' funds81,96128,861
The financial statements were approved and authorised for issue by the Board of Directors on 7 February 2024, and are signed on its behalf by:
MALLENDER, Adrian Charles
Director
Registered Company No. 12023971
ECONOMICS BY DESIGN LTD
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year43
5.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 June 2223,85423,854
Additions7,9607,960
At 31 May 2331,81431,814
Depreciation and impairment
At 01 June 2212,59812,598
Charge for year6,4856,485
At 31 May 2319,08319,083
Net book value
At 31 May 2312,73112,731
At 31 May 2211,25611,256
6.Debtors

2023

2022

££
Trade debtors / trade receivables20,616-
Other debtors2,9092,384
Prepayments and accrued income-442
Total23,5252,826
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables578-
Taxation and social security15,7384,332
Other creditors13,34454,517
Accrued liabilities and deferred income7695,097
Total30,42963,946
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)2,4191,268
Total2,4191,268