Registered number
09443531
The Design Studio Limited
Unaudited Filleted Accounts
31 December 2023
The Design Studio Limited
Registered number: 09443531
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 - 6
Current assets
Debtors 4 212,934 24,369
Cash at bank and in hand 1,310,850 933,792
1,523,784 958,161
Creditors: amounts falling due within one year 5 (1,049,116) (508,089)
Net current assets 474,668 450,072
Total assets less current liabilities 474,668 450,078
Creditors: amounts falling due after more than one year 6 (43,376) (48,835)
Net assets 431,292 401,243
Capital and reserves
Called up share capital 100 100
Profit and loss account 431,192 401,143
Shareholders' funds 431,292 401,243
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Dudley O Pitham
Director Director
Approved by the board on 7 August 2024
The Design Studio Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses.
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 7,234
At 31 December 2023 7,234
Depreciation
At 1 January 2023 7,228
Charge for the year 6
At 31 December 2023 7,234
Net book value
At 31 December 2023 -
At 31 December 2022 6
4 Debtors 2023 2022
£ £
Trade debtors 196,934 8,369
Other debtors 16,000 16,000
212,934 24,369
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 507,893 317,994
Corporation tax 116,683 59,158
Other taxes and social security costs 198,544 112,125
Other creditors 225,996 18,812
1,049,116 508,089
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 43,376 48,835
7 Other information
The Design Studio Limited is a private company limited by shares and incorporated in England. Its registered office is:
Hop Yard Studios
72 Borough High Street
London, SE1 1XF
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