Design & Display Limited 02612800 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is manufacturing and supplying of shopfitting equipment, postforming and laminate fabrication. Digita Accounts Production Advanced 6.30.9574.0 true 02612800 2022-08-01 2023-07-31 02612800 2023-07-31 02612800 core:RetainedEarningsAccumulatedLosses 2023-07-31 02612800 core:ShareCapital 2023-07-31 02612800 core:CurrentFinancialInstruments 2023-07-31 02612800 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 02612800 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 02612800 core:FurnitureFittingsToolsEquipment 2023-07-31 02612800 core:MotorVehicles 2023-07-31 02612800 core:OtherPropertyPlantEquipment 2023-07-31 02612800 bus:SmallEntities 2022-08-01 2023-07-31 02612800 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 02612800 bus:FullAccounts 2022-08-01 2023-07-31 02612800 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 02612800 bus:RegisteredOffice 2022-08-01 2023-07-31 02612800 bus:Director8 2022-08-01 2023-07-31 02612800 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 02612800 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 02612800 core:MotorVehicles 2022-08-01 2023-07-31 02612800 core:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 02612800 core:PlantMachinery 2022-08-01 2023-07-31 02612800 countries:EnglandWales 2022-08-01 2023-07-31 02612800 2022-07-31 02612800 core:FurnitureFittingsToolsEquipment 2022-07-31 02612800 core:MotorVehicles 2022-07-31 02612800 core:OtherPropertyPlantEquipment 2022-07-31 02612800 2021-08-01 2022-07-31 02612800 2022-07-31 02612800 core:RetainedEarningsAccumulatedLosses 2022-07-31 02612800 core:ShareCapital 2022-07-31 02612800 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 02612800 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 02612800 core:FurnitureFittingsToolsEquipment 2022-07-31 02612800 core:MotorVehicles 2022-07-31 02612800 core:OtherPropertyPlantEquipment 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 02612800

Design & Display Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Design & Display Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Design & Display Limited

Balance Sheet

as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

169,579

223,864

Current assets

 

Stocks

1,075,035

1,163,027

Debtors

5

1,506,519

1,268,233

Cash at bank and in hand

 

357,984

416,236

 

2,939,538

2,847,496

Creditors: Amounts falling due within one year

6

(1,315,084)

(1,443,151)

Net current assets

 

1,624,454

1,404,345

Total assets less current liabilities

 

1,794,033

1,628,209

Creditors: Amounts falling due after more than one year

6

(80,718)

(180,492)

Provisions for liabilities

(33,765)

(34,210)

Net assets

 

1,679,550

1,413,507

Capital and reserves

 

Allotted, called up and fully paid share capital

2,000

2,000

Profit and loss account

1,677,550

1,411,507

Shareholders' funds

 

1,679,550

1,413,507

Registration number: 02612800

 

Design & Display Limited

Balance Sheet

as at 31 July 2023 (continued)

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 8 April 2024 and signed on its behalf by:
 

.........................................
Mr J A Worsnop
Director

   
     
 

Design & Display Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 July 2023

1

General information

The company is a private company limited by shares incorporated in England and Wales within the United Kingdom.

The company's registration number is 02612800.

The address of its registered office is:
Lowfields Way
Lowfields Business Park
Elland
West Yorkshire
HX5 9DA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer.

 

Design & Display Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 July 2023 (continued)

2

Accounting policies (continued)

Government grants

Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.”

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Exchange differences are taken into account in arriving at operating profit.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost (or deemed cost), less any accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Design & Display Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 July 2023 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% per annum on a reducing balance basis

Fixtures, fittings and equipment

25% per annum on a reducing balance basis and 33% per annum on a straight line basis

Motor vehicles

25% per annum on a reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Finished goods and work in progress comprise of direct materials, applicable labour costs and overheads that have been incurred in bringing the inventories to their condition. Stocks are assessed for impairment and impaired stock is reduced to its selling price less costs to complete and sell; any impairment loss is recognised immediately in the profit and loss.

Leases

Rentals in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Defined contribution pension obligation

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions are charged to the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 50 (2022 - 51).

 

Design & Display Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 July 2023 (continued)

4

Tangible assets

Fixtures, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost

At 1 August 2022

312,251

28,500

1,941,955

2,282,706

Additions

-

-

2,200

2,200

Disposals

-

(3,400)

(4,500)

(7,900)

At 31 July 2023

312,251

25,100

1,939,655

2,277,006

Depreciation

At 1 August 2022

308,323

22,988

1,727,531

2,058,842

Charge for the year

982

1,378

53,992

56,352

Eliminated on disposal

-

(3,400)

(4,367)

(7,767)

At 31 July 2023

309,305

20,966

1,777,156

2,107,427

Net book value

At 31 July 2023

2,946

4,134

162,499

169,579

At 31 July 2022

3,928

5,512

214,424

223,864

5

Debtors

2023
£

2022
£

Trade debtors

1,382,985

1,166,768

Prepayments

123,534

101,465

 

1,506,519

1,268,233

 

Design & Display Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 July 2023 (continued)

6

Creditors

2023
£

2022
£

Due within one year

Bank loans and overdrafts

10,000

10,000

Trade creditors

946,030

880,022

Directors' loan accounts

33,875

17,024

Taxation and social security

70,830

144,585

Finance lease liabilities

28,749

68,800

Other creditors

38,350

85,566

Accruals and deferred income

55,356

155,939

Corporation tax

131,894

81,215

1,315,084

1,443,151

Due after one year

Bank loans and overdrafts

21,667

31,667

Finance lease liabilities

59,051

148,825

80,718

180,492


The finance lease liabilities are secured on the fixed assets of the company.

7

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £33,894 (2022 - £32,662).

Contributions totalling £9,326 (2022 - £8,968) were payable to the scheme at the end of the year and are included in creditors.