Company registration number 05818927 (England and Wales)
Combinedesign Limited
UNAUDITED FINANCIAL STATEMENTS
Financial Statements
for the year ended 31 May 2024
PAGES FOR FILING WITH REGISTRAR
Combinedesign Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Combinedesign Limited
Statement Of Financial Position
as at 31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
40,663
16,167
Current assets
Debtors
6
3,419
-
0
Cash at bank and in hand
72,521
101,595
75,940
101,595
Creditors: amounts falling due within one year
7
(32,896)
(30,070)
Net current assets
43,044
71,525
Total assets less current liabilities
83,707
87,692
Provisions for liabilities
8
(1,731)
(3,072)
Net assets
81,976
84,620
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
81,876
84,520
Total equity
81,976
84,620

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These 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 and signed by the director and authorised for issue on 23 July 2024
C G Davis
Director
Company registration number 05818927 (England and Wales)
Combinedesign Limited
Notes to the financial statements
for the year ended 31 May 2024
- 2 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover represents the fair value of the consideration received for goods and services provided in the normal course of business, and is shown net of VAT. Turnover is recognised on the provision of goods and services.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost less of depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Computer Equipment
15% reducing balance basis
Motor vehicles
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is recognised on all timing differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is the settled or the asset realised, based on the tax rates that have been enacted or substantively exacted by the end of the period.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Combinedesign Limited
Notes to the financial statements (continued)
for the year ended 31 May 2024
- 3 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2023 - 2).

2024
2023
Number
Number
Total
2
2
4
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
23,479
21,434
Adjustments in respect of prior periods
13
(9)
Total current tax
23,492
21,425
Deferred tax
Origination and reversal of timing differences
(1,341)
753
Total tax charge
22,151
22,178
5
Tangible fixed assets
Computer Equipment
Motor vehicles
Total
£
£
£
Cost
At 1 June 2023
33,807
-
0
33,807
Additions
-
0
35,895
35,895
At 31 May 2024
33,807
35,895
69,702
Depreciation and impairment
At 1 June 2023
17,640
-
0
17,640
Depreciation charged in the year
2,425
8,974
11,399
At 31 May 2024
20,065
8,974
29,039
Carrying amount
At 31 May 2024
13,742
26,921
40,663
At 31 May 2023
16,167
-
0
16,167
Combinedesign Limited
Notes to the financial statements (continued)
for the year ended 31 May 2024
- 4 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,419
-
0
7
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
23,479
21,434
Other taxation and social security
7,480
5,292
Other creditors
303
1,410
Accruals and deferred income
1,634
1,934
32,896
30,070
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
1,731
3,072
9
Company information

Combinedesign Limited is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.

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