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REGISTERED NUMBER: 04120093 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31st December 2023

for

Designbit Limited
Trading as
Roach Bridge Tissues

Designbit Limited (Registered number: 04120093)
Trading as Roach Bridge Tissues

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










Page

Company Information 1

Chartered Certified Accountants' Report 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Designbit Limited
Trading as Roach Bridge Tissues

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Mr CWG Hadcock
Mrs CJ Hadcock



SECRETARY: Mrs CJ Hadcock



REGISTERED OFFICE: Roach Bridge Mill
Roach Road
Samlesbury
Preston
Lancashire
PR5 0UB



REGISTERED NUMBER: 04120093 (England and Wales)



ACCOUNTANTS: Towers + Gornall Ltd
Chartered Certified Accountants
River View
96 High Street
Garstang
Preston
Lancashire
PR3 1WZ



BANKERS: Barclays plc
PO Box 229
Navigation Way
Preston
Lancashire
PR1 3JJ



SOLICITORS: Hill Dickinson
50 Fountain Street
Manchester
M2 2AS

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Designbit Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Designbit Limited for the year ended 31st December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Designbit Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Designbit Limited and state those matters that we have agreed to state to the Board of Directors of Designbit Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Designbit Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Designbit Limited. You consider that Designbit Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Designbit Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to our client and we do not accept responsibility to anyone else.






Towers + Gornall Ltd
Chartered Certified Accountants
River View
96 High Street
Garstang
Preston
Lancashire
PR3 1WZ


4th March 2024

Designbit Limited (Registered number: 04120093)
Trading as Roach Bridge Tissues

Income Statement
for the Year Ended 31st December 2023

2023 2022
Notes £    £   

REVENUE 842,299 799,540

Cost of sales 625,570 575,486
GROSS PROFIT 216,729 224,054

Administrative expenses 159,621 146,533
57,108 77,521

Other operating income 5,000 5,000
OPERATING PROFIT 4 62,108 82,521

Interest receivable and similar income 71 -
62,179 82,521

Interest payable and similar expenses 1,457 1,460
PROFIT BEFORE TAXATION 60,722 81,061

Tax on profit 2,938 15,032
PROFIT FOR THE FINANCIAL YEAR 57,784 66,029

Designbit Limited (Registered number: 04120093)
Trading as Roach Bridge Tissues

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 69,233 58,308

CURRENT ASSETS
Inventories 295,335 316,944
Debtors 6 558,771 572,593
Cash at bank and in hand 77,454 12,891
931,560 902,428
CREDITORS
Amounts falling due within one year 7 73,657 71,326
NET CURRENT ASSETS 857,903 831,102
TOTAL ASSETS LESS CURRENT
LIABILITIES

927,136

889,410

CREDITORS
Amounts falling due after more than one
year

8

(38,567

)

(48,988

)

PROVISIONS FOR LIABILITIES (2,284 ) (9,921 )
NET ASSETS 886,285 830,501

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 876,285 820,501
SHAREHOLDERS' FUNDS 886,285 830,501

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Designbit Limited (Registered number: 04120093)
Trading as Roach Bridge Tissues

Balance Sheet - continued
31st December 2023


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

The financial statements were approved by the Board of Directors and authorised for issue on 4th March 2024 and were signed on its behalf by:




Mr CWG Hadcock - Director



Mrs CJ Hadcock - Director


Designbit Limited (Registered number: 04120093)
Trading as Roach Bridge Tissues

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


1. STATUTORY INFORMATION

Designbit Limited 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on cost and 20% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 12 (2022 - 11 ) .

Designbit Limited (Registered number: 04120093)
Trading as Roach Bridge Tissues

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


4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 17,816 14,929

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1st January 2023 393,895
Additions 28,741
At 31st December 2023 422,636
DEPRECIATION
At 1st January 2023 335,587
Charge for year 17,816
At 31st December 2023 353,403
NET BOOK VALUE
At 31st December 2023 69,233
At 31st December 2022 58,308

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 148,204 124,559
Other debtors 402,097 440,938
Directors' current accounts 3,602 -
Prepayments 4,868 7,096
558,771 572,593

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 23,303 12,150
Corporation tax 10,575 16,383
Social security and other taxes 6,812 4,021
VAT 27,930 27,501
Other creditors 2,993 2,216
Directors' current accounts - 4,311
Accruals and deferred income 2,044 4,744
73,657 71,326

Designbit Limited (Registered number: 04120093)
Trading as Roach Bridge Tissues

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans 22,000 30,181
Hire purchase contracts 16,567 18,807
38,567 48,988

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2023 and 31st December 2022:

2023 2022
£    £   
**UNKNOWN DIRECTOR 1**
Balance outstanding at start of year - -
Amounts advanced 3,601 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,601 -

The Director's Loan Account was overdrawn by £3601.26, including interest at 2%. This will be repaid within 9 months of the year-end.

10. RELATED PARTY DISCLOSURES

Including within other debtors is a loan of £366,938 to Mill Court (Roach Bridge) Limited a company under the control of Mr & Mrs Hadcock and a loan of £35,158.89 to Edenbrace Limited a company which Mr & Mrs Hadcock have a 50% shareholding.