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REGISTERED NUMBER: 00842539 (England and Wales)






Headingley Design Services Limited

Financial Statements

for the Year Ended 31 March 2024






Headingley Design Services Limited (Registered number: 00842539)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Headingley Design Services Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr D A Young BSc Hons. AMICE
Mr J S Young





REGISTERED OFFICE: Sandal Business Centre
Asdale Road
Wakefield
West Yorkshire
WF2 7JE





REGISTERED NUMBER: 00842539 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Headingley Design Services Limited (Registered number: 00842539)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment property 4 365,000 365,000

CURRENT ASSETS
Stocks - 200,000
Debtors 5 7,269 273
Cash at bank 572,155 685,752
579,424 886,025
CREDITORS
Amounts falling due within one year 6 1,508 307,132
NET CURRENT ASSETS 577,916 578,893
TOTAL ASSETS LESS CURRENT
LIABILITIES

942,916

943,893

PROVISIONS FOR LIABILITIES 12,134 12,134
NET ASSETS 930,782 931,759

Headingley Design Services Limited (Registered number: 00842539)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 7 321,540 321,540
Share premium 8 19,460 19,460
Retained earnings 8 589,782 590,759
SHAREHOLDERS' FUNDS 930,782 931,759

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 14 August 2024 and were signed on its behalf by:





Mr D A Young BSc Hons. AMICE - Director


Headingley Design Services Limited (Registered number: 00842539)

Notes to the Financial Statements
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Headingley Design Services 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.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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.

Turnover in respect of rents and service charges receivable is recognised on an accruals basis.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Fair value has been determined by the directors having taken the appropriate professional advice and based on similar properties in the local area.

Stocks
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


Headingley Design Services Limited (Registered number: 00842539)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2023
and 31 March 2024 365,000
NET BOOK VALUE
At 31 March 2024 365,000
At 31 March 2023 365,000

The investment property has been stated at its fair value as determined by the directors.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed by related undertakings 7,200 -
VAT - 208
Prepayments 69 65
7,269 273

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed to related undertakings - 10,800
Corporation tax - 22,970
Other creditors - 72,000
Directors' current accounts - 198,000
Accruals and deferred income 1,508 3,362
1,508 307,132

Headingley Design Services Limited (Registered number: 00842539)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £ £
321,540 Ordinary £1 321,540 321,540

8. RESERVES

Included within retained earnings is an amount of £225,489 (2023: £225,489) which relates to the cumulative fair value gains on the investment properties, net of deferred tax. This amount is non-distributable.