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COMPANY REGISTRATION NUMBER: 02841224
D. MILLAR DESIGN LTD.
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 August 2023
D. MILLAR DESIGN LTD.
FINANCIAL STATEMENTS
YEAR ENDED 31st AUGUST 2023
CONTENTS
PAGES
Statement of financial position
1
Notes to the financial statements
2 to 3
D. MILLAR DESIGN LTD.
STATEMENT OF FINANCIAL POSITION
31 August 2023
2023
2022
Note
£
£
£
£
CURRENT ASSETS
Cash at bank and in hand
391,567
451,207
CREDITORS: amounts falling due within one year
5
59,862
66,632
----------
----------
NET CURRENT ASSETS
331,705
384,575
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
331,705
384,575
----------
----------
NET ASSETS
331,705
384,575
----------
----------
CAPITAL AND RESERVES
Called up share capital
6
2
2
Profit and loss account
331,703
384,573
----------
----------
SHAREHOLDERS FUNDS
331,705
384,575
----------
----------
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 31st August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 26 February 2024 , and are signed on behalf of the board by:
D. Millar
Director
Company registration number: 02841224
D. MILLAR DESIGN LTD.
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st AUGUST 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Post Office, 63 Saville Street, North Shields, Tyne and Wear, NE30 1AY.
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. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The financial statements have been prepared on the going concern basis. The directors consider that this basis is appropriate following due consideration of the present financial position, the expected prospects of the company during the twelve months from the date of approval of these financial statements and the continued support of the company's directors, bankers and other lending agents during this time.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
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.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. CREDITORS: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
600
600
Director loan accounts
59,262
66,032
---------
---------
59,862
66,632
---------
---------
6. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
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7. RELATED PARTY TRANSACTIONS
No transactions with related parties were undertaken such as are required to be disclosed under the FRS 102 Section 1A small entities.