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REGISTERED NUMBER: 05155976 (England and Wales)















MW DESIGNS LIMITED

Unaudited Financial Statements for the Year Ended 31 July 2023






MW DESIGNS LIMITED (REGISTERED NUMBER: 05155976)






Contents of the Financial Statements
for the year ended 31 July 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


MW DESIGNS LIMITED

Company Information
for the year ended 31 July 2023







Directors: M D Whitehead
M E Williams





Registered office: The Pillar
Civic Centre
Queen Elizabeth Drive
Pershore
Worcestershire
WR10 1PT





Registered number: 05155976 (England and Wales)

MW DESIGNS LIMITED (REGISTERED NUMBER: 05155976)

Balance Sheet
31 July 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 112,058 17,062
112,058 17,062

Current assets
Debtors 6 317,202 318,314
Cash at bank 35,650 4,237
352,852 322,551
Creditors
Amounts falling due within one year 7 145,172 100,583
Net current assets 207,680 221,968
Total assets less current liabilities 319,738 239,030

Creditors
Amounts falling due after more than one
year

8

(188,927

)

(144,032

)

Provisions for liabilities (3,064 ) (3,242 )
Net assets 127,747 91,756

Capital and reserves
Called up share capital 10 102 102
Retained earnings 127,645 91,654
Shareholders' funds 127,747 91,756

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

MW DESIGNS LIMITED (REGISTERED NUMBER: 05155976)

Balance Sheet - continued
31 July 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2024 and were signed on its behalf by:




M D Whitehead - Director



M E Williams - Director


MW DESIGNS LIMITED (REGISTERED NUMBER: 05155976)

Notes to the Financial Statements
for the year ended 31 July 2023

1. Statutory information

MW Designs 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, has been fully amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

MW DESIGNS LIMITED (REGISTERED NUMBER: 05155976)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

3. Employees and directors

The average number of employees during the year was 8 (2022 - 8 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 August 2022
and 31 July 2023 31,000
Amortisation
At 1 August 2022
and 31 July 2023 31,000
Net book value
At 31 July 2023 -
At 31 July 2022 -

5. Tangible fixed assets
Fixtures
Improvements and Motor Computer
to property fittings vehicles equipment Totals
£ £ £ £ £
Cost
At 1 August 2022 36,946 16,654 - 79,709 133,309
Additions - - 162,505 5,529 168,034
Disposals - - (64,945 ) - (64,945 )
At 31 July 2023 36,946 16,654 97,560 85,238 236,398
Depreciation
At 1 August 2022 24,956 11,976 - 79,315 116,247
Charge for year 3,695 702 9,203 2,070 15,670
Eliminated on disposal - - (7,577 ) - (7,577 )
At 31 July 2023 28,651 12,678 1,626 81,385 124,340
Net book value
At 31 July 2023 8,295 3,976 95,934 3,853 112,058
At 31 July 2022 11,990 4,678 - 394 17,062

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 147,021 134,838
Amounts owed by group undertakings 35,346 34,667
Other debtors 1,500 1,000
Amounts owed by connected
company 133,335 96,835
Corporation tax - 50,974
317,202 318,314

MW DESIGNS LIMITED (REGISTERED NUMBER: 05155976)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 39,809 54,000
Hire purchase contracts 16,425 -
Corporation tax 29,002 -
Social security and other taxes 6,157 6,658
VAT 47,936 36,900
Directors' current accounts 2,818 -
Accruals and deferred income 3,025 3,025
145,172 100,583

8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans - 1-2 years 39,809 40,667
Bank loans - 2-5 years 71,296 103,365
Hire purchase contracts 77,822 -
188,927 144,032

9. Secured debts

The following secured debts are included within creditors:

2023 2022
£ £
Hire purchase contracts 94,247 -

Hire purchase liabilities are secured against the asset to which they relate.

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary A £1 100 100
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
102 102

11. Related party disclosures

The company has taken advantage of exemption,under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the year end there was a balance owing from MW Designs Consultancy LLP, a connected company, to the company totalling £133,335 (2022: £96,835).

12. Ultimate parent company

The ultimate parent company is MW Design Consultancy Holdings Limited, a company registered in England and Wales.

Ultimate controlling party

The company is ultimately controlled by its directors.