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Registered number: 02695620









CONSERVATION BY DESIGN LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 DECEMBER 2023

 
CONSERVATION BY DESIGN LIMITED
REGISTERED NUMBER: 02695620

BALANCE SHEET
AS AT 30 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
70,153
129,174

Investments
 5 
971,304
971,304

  
1,041,457
1,100,478

Current assets
  

Stocks
  
613,278
632,471

Debtors: amounts falling due after more than one year
 6 
265,143
261,381

Debtors: amounts falling due within one year
 6 
283,958
516,280

Cash at bank and in hand
 7 
53,253
29,519

  
1,215,632
1,439,651

Creditors: amounts falling due within one year
 8 
(1,497,422)
(1,704,992)

Net current liabilities
  
 
 
(281,790)
 
 
(265,341)

Total assets less current liabilities
  
759,667
835,137

  

Net assets
  
759,667
835,137


Capital and reserves
  

Called up share capital 
  
916,624
916,624

Capital contributions
  
2,350,616
2,350,616

Profit and loss account
  
(2,507,573)
(2,432,103)

  
759,667
835,137


Page 1

 
CONSERVATION BY DESIGN LIMITED
REGISTERED NUMBER: 02695620
    
BALANCE SHEET (CONTINUED)
AS AT 30 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Duncan Welch
Director

Date: 12 September 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CONSERVATION BY DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023

1.


General information

Conservation by Design Limited is a limited liability Company, incorporated in England & Wales. 
The registered office and principal place of business is 111 High Street, Riseley, Bedford, Bedfordshire, MK44 1DF.
The financial statements have been prepared in round GBP. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that
the company has adequate resources to continue in operational existence for the foreseeable future.
Therefore, the directors have adopted the going concern basis of accounting in preparing the
financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
CONSERVATION BY DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
CONSERVATION BY DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
15%-33% per annum
Motor vehicles
-
50% per annum
Office equipment
-
15%-33% per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
CONSERVATION BY DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the Period was 24 (2022 - 23).

Page 6

 
CONSERVATION BY DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 31 December 2022
245,313
7,417
47,857
300,587


Additions
6,694
-
-
6,694



At 30 December 2023

252,007
7,417
47,857
307,281



Depreciation


At 31 December 2022
119,847
3,709
47,857
171,413


Charge for the Period on owned assets
62,007
3,708
-
65,715



At 30 December 2023

181,854
7,417
47,857
237,128



Net book value



At 30 December 2023
70,153
-
-
70,153



At 30 December 2022
125,466
3,708
-
129,174


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 31 December 2022
971,304



At 30 December 2023
971,304




Page 7

 
CONSERVATION BY DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023

6.


Debtors

2023
2022
£
£

Due after more than one year

Amounts owed by group undertakings
265,143
261,381

265,143
261,381


2023
2022
£
£

Due within one year

Trade debtors
193,359
159,545

Amounts owed by group undertakings
-
23,000

Other debtors
20,277
275,898

Prepayments and accrued income
70,322
57,837

283,958
516,280



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
53,253
29,519

53,253
29,519



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
276,953
248,917

Other taxation and social security
18,069
15,114

Other creditors
1,069,439
1,318,560

Accruals and deferred income
132,961
122,401

1,497,422
1,704,992


Page 8

 
CONSERVATION BY DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023

9.


Deferred taxation


The company currently has tax losses c/f of £1,634,672. No deferred tax asset has been recognised in respect od these losses.


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund.


11.


Related party transactions

CXD France is a subsidiary of this company. At the balance sheet date, the amount owed to the Company by Conservation Design France and included in other debtors was £91,312 (2022: £nil). At the balance sheet date, the amount owed by the Company to Conservation Design France and included in other creditors was £140,539 (2022: £141,067). 
Timecare Limited has directors and shareholders in common with Conservation by Design Limited, making it a related party. At the balance sheet date, the amount owed to the Company by Timecare Limited was £265,143 (2022: £261,381). 

 
Page 9