Company registration number 04090624 (England and Wales)
BUSINESS DESIGN SOLUTIONS LIMITED
TRADING AS BDS ARCHITECTURE & INTERIOR DESIGN
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BUSINESS DESIGN SOLUTIONS LIMITED
TRADING AS BDS ARCHITECTURE & INTERIOR DESIGN
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
BUSINESS DESIGN SOLUTIONS LIMITED
TRADING AS BDS ARCHITECTURE & INTERIOR DESIGN
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
8,026
9,762
Current assets
Stocks
27,000
37,235
Debtors
5
256,043
182,177
Cash at bank and in hand
838
1
283,881
219,413
Creditors: amounts falling due within one year
6
(272,336)
(195,447)
Net current assets
11,545
23,966
Total assets less current liabilities
19,571
33,728
Creditors: amounts falling due after more than one year
7
(17,500)
(30,312)
Net assets
2,071
3,416
Capital and reserves
Called up share capital
8
2,004
2,004
Profit and loss reserves
67
1,412
Total equity
2,071
3,416

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 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.

BUSINESS DESIGN SOLUTIONS LIMITED
TRADING AS BDS ARCHITECTURE & INTERIOR DESIGN
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023
30 September 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 September 2024 and are signed on its behalf by:
Mr P  Rowlands
Director
Company Registration No. 04090624
BUSINESS DESIGN SOLUTIONS LIMITED
TRADING AS BDS ARCHITECTURE & INTERIOR DESIGN
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information

Business Design Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1-4, Kings Parade, Lower Coombe Street, Croydon, Surrey, CR0 1AA.

1.1
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

Plant and machinery
33% Straight Line Basis
Fixtures, fittings & equipment
15% Straight Line Basis
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
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 of its financial instruments.

BUSINESS DESIGN SOLUTIONS LIMITED
TRADING AS BDS ARCHITECTURE & INTERIOR DESIGN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

BUSINESS DESIGN SOLUTIONS LIMITED
TRADING AS BDS ARCHITECTURE & INTERIOR DESIGN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.10
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
7
3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 1 October 2022 and 30 September 2023
30,000
300
30,300
Amortisation and impairment
At 1 October 2022 and 30 September 2023
30,000
300
30,300
Carrying amount
At 30 September 2023
-
0
-
0
-
0
At 30 September 2022
-
0
-
0
-
0
BUSINESS DESIGN SOLUTIONS LIMITED
TRADING AS BDS ARCHITECTURE & INTERIOR DESIGN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022
85,364
Additions
2,485
At 30 September 2023
87,849
Depreciation and impairment
At 1 October 2022
75,602
Depreciation charged in the year
4,221
At 30 September 2023
79,823
Carrying amount
At 30 September 2023
8,026
At 30 September 2022
9,762
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
123,835
95,941
Corporation tax recoverable
18,890
14,867
Other debtors
113,318
71,369
256,043
182,177

 

6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
50,628
18,826
Trade creditors
23,578
25,211
Corporation tax
91,175
63,654
Other taxation and social security
95,061
68,014
Other creditors
11,894
19,742
272,336
195,447

 

BUSINESS DESIGN SOLUTIONS LIMITED
TRADING AS BDS ARCHITECTURE & INTERIOR DESIGN
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
17,500
30,312

 

8
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
2,000 Ordinary shares of £1 each
2,000
2,000
1 Ordinary A share of £1 each
1
1
1 Ordinary B share of £1 each
1
1
1 Ordinary C share of £1 each
1
1
1 Ordinary D share of £1 each
1
1
2,004
2,004
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
51,889
36,876
10
Directors' transactions

At the year end, included within other debtors is an amount of £103,405 (2022: £66,922) owed by the directors of the company.

 

 

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