Company registration number 09475302 (England and Wales)
DESIGNPM (INTERNATIONAL) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
DESIGNPM (INTERNATIONAL) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
DESIGNPM (INTERNATIONAL) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
4,323,867
2,706,620
Cash at bank and in hand
501,282
3,162,970
4,825,149
5,869,590
Creditors: amounts falling due within one year
4
(2,106,604)
(2,757,470)
Net current assets
2,718,545
3,112,120
Creditors: amounts falling due after more than one year
5
(922,953)
(1,266,759)
Net assets
1,795,592
1,845,361
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
1,795,392
1,845,161
Total equity
1,795,592
1,845,361

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

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

The financial statements were approved by the board of directors and authorised for issue on 19 September 2024 and are signed on its behalf by:
Mr V Larnicol
Director
Company registration number 09475302 (England and Wales)
DESIGNPM (INTERNATIONAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

DesignPM (International) Limited is a private company limited by shares incorporated in England and Wales. The registered office is India House, 45 Curlew Street, London, SE1 2ND.

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 project management services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
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.

 

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.

DESIGNPM (INTERNATIONAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.4
Taxation

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

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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
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.

2
Employees

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

2023
2022
Number
Number
Total
-
0
24

All employees were transferred to an associated company as part of the business transfer agreement in August 2022.

DESIGNPM (INTERNATIONAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
339,137
1,749,146
Amounts owed by group undertakings
3,072,833
-
0
Other debtors
911,897
957,474
4,323,867
2,706,620

Amounts owed by companies under common control (included in other debtors) are interest free, with no security and no fixed repayment terms.

4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
33,623
84,596
Amounts owed to group undertakings
1,711
3,600
Other creditors
2,071,270
2,669,274
2,106,604
2,757,470

Amounts owed to group undertakings and companies under common control (included in other creditors) are interest free, with no security and no fixed repayment terms.

5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
922,953
1,266,759

Included in other creditors, both within 1 year and after 1 year, is the balance for the advance payment received at the start of the largest contract. The initial payment was 10% of the contract value which is subsequently released each time an invoice is raised.

 

6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Mary Gregori FCA, FCCA
Statutory Auditor:
Goldblatts
Date of audit report:
19 September 2024
DESIGNPM (INTERNATIONAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
7
Related party transactions

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
1,711
3,600

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
3,072,833
-
8
Parent company

The ultimate controlling entity is Chargeurs SA, the smallest and largest group which produces consolidated financial statements in which the company is included, incorporated in France. The financial statements for Chargeurs SA are publicly available from 7 Rue Kepler, 75116, Paris, France.

2023-12-312023-01-01false19 September 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedMr R RochfordMr J AlexanderMr V Larnicolfalsefalse094753022023-01-012023-12-31094753022023-12-31094753022022-12-3109475302core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3109475302core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3109475302core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3109475302core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3109475302core:CurrentFinancialInstruments2023-12-3109475302core:CurrentFinancialInstruments2022-12-3109475302core:ShareCapital2023-12-3109475302core:ShareCapital2022-12-3109475302core:RetainedEarningsAccumulatedLosses2023-12-3109475302core:RetainedEarningsAccumulatedLosses2022-12-3109475302bus:Director32023-01-012023-12-31094753022022-01-012022-12-3109475302core:WithinOneYear2023-12-3109475302core:WithinOneYear2022-12-3109475302core:Non-currentFinancialInstruments2023-12-3109475302core:Non-currentFinancialInstruments2022-12-3109475302core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity2023-12-3109475302bus:PrivateLimitedCompanyLtd2023-01-012023-12-3109475302bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109475302bus:FRS1022023-01-012023-12-3109475302bus:Audited2023-01-012023-12-3109475302bus:Director12023-01-012023-12-3109475302bus:Director22023-01-012023-12-3109475302bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP