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REGISTERED NUMBER: 09884179 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

STATUS DESIGN ASSOCIATES LIMITED

STATUS DESIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 09884179)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STATUS DESIGN ASSOCIATES LIMITED

Company Information
for the year ended 31 December 2023







Directors: N P Maguire
W J Lawler





Registered office: 8 Holgate Court
Western Road
Romford
Essex
RM1 3JS





Registered number: 09884179 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

STATUS DESIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 09884179)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 9,805 13,249
9,805 13,249

Current assets
Stocks 17,141 27,550
Debtors 6 157,339 169,148
Cash at bank 162,730 240,907
337,210 437,605
Creditors
Amounts falling due within one year 7 99,414 138,016
Net current assets 237,796 299,589
Total assets less current liabilities 247,601 312,838

Creditors
Amounts falling due after more than one
year

8

(9,000

)

(15,000

)

Provisions for liabilities 9 (1,850 ) (2,500 )
Net assets 236,751 295,338

Capital and reserves
Called up share capital 10 1 1
Retained earnings 11 236,750 295,337
Shareholders' funds 236,751 295,338

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

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

STATUS DESIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 09884179)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





N P Maguire - Director


STATUS DESIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 09884179)

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


1. Statutory information

Status Design Associates 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

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 2016, is being amortised evenly over its estimated useful life of five 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

STATUS DESIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 09884179)

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


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. Employees and directors

The average number of employees during the year was 6 (2022 - 6 ) .

STATUS DESIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 09884179)

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


4. Intangible fixed assets
Goodwill
£   
Cost
At 1 January 2023
and 31 December 2023 20,000
Amortisation
At 1 January 2023
and 31 December 2023 20,000
Net book value
At 31 December 2023 -
At 31 December 2022 -

5. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 January 2023 12,271 9,727 7,723 29,721
Additions 499 - - 499
At 31 December 2023 12,770 9,727 7,723 30,220
Depreciation
At 1 January 2023 9,010 4,373 3,089 16,472
Charge for year 940 1,459 1,544 3,943
At 31 December 2023 9,950 5,832 4,633 20,415
Net book value
At 31 December 2023 2,820 3,895 3,090 9,805
At 31 December 2022 3,261 5,354 4,634 13,249

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 107,328 161,571
Other debtors 50,011 7,577
157,339 169,148

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 24,219 28,943
Trade creditors 6,715 7,597
Taxation and social security 60,613 98,189
Other creditors 7,867 3,287
99,414 138,016

STATUS DESIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 09884179)

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


8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 9,000 15,000

9. Provisions for liabilities
2023 2022
£    £   
Deferred tax 1,850 2,500

Deferred
tax
£   
Balance at 1 January 2023 2,500
Provided during year (650 )
Balance at 31 December 2023 1,850

10. Called up share capital

The company's share capital consists of:

50 ordinary A £0.01 shares and 50 ordinary B £0.01 shares.

11. Reserves
Retained
earnings
£   

At 1 January 2023 295,337
Profit for the year 75,413
Dividends (134,000 )
At 31 December 2023 236,750

12. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
W J Lawler
Balance outstanding at start of year - -
Amounts advanced 20,965 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,965 -

STATUS DESIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 09884179)

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


12. Directors' advances, credits and guarantees - continued

N P Maguire
Balance outstanding at start of year - -
Amounts advanced 20,978 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,978 -