3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 35,200 13,235 48,435 4,780 6,217 10,997 37,438 30,420 xbrli:pure xbrli:shares iso4217:GBP 12708962 2023-01-01 2023-12-31 12708962 2023-12-31 12708962 2022-12-31 12708962 2021-08-01 2022-12-31 12708962 2022-12-31 12708962 2021-07-31 12708962 core:PlantMachinery 2023-01-01 2023-12-31 12708962 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 12708962 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 12708962 bus:OrdinaryShareClass4 2023-01-01 2023-12-31 12708962 bus:Director1 2023-01-01 2023-12-31 12708962 core:PlantMachinery 2022-12-31 12708962 core:PlantMachinery 2023-12-31 12708962 core:WithinOneYear 2023-12-31 12708962 core:WithinOneYear 2022-12-31 12708962 core:ShareCapital 2023-12-31 12708962 core:ShareCapital 2022-12-31 12708962 core:SharePremium 2023-12-31 12708962 core:SharePremium 2022-12-31 12708962 core:RetainedEarningsAccumulatedLosses 2023-12-31 12708962 core:RetainedEarningsAccumulatedLosses 2022-12-31 12708962 core:PlantMachinery 2022-12-31 12708962 bus:SmallEntities 2023-01-01 2023-12-31 12708962 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12708962 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12708962 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12708962 bus:FullAccounts 2023-01-01 2023-12-31 12708962 bus:OrdinaryShareClass2 2023-12-31 12708962 bus:OrdinaryShareClass2 2022-12-31 12708962 bus:OrdinaryShareClass3 2023-12-31 12708962 bus:OrdinaryShareClass3 2022-12-31 12708962 bus:OrdinaryShareClass4 2023-12-31 12708962 bus:OrdinaryShareClass4 2022-12-31 12708962 bus:AllOrdinaryShares 2023-12-31 12708962 bus:AllOrdinaryShares 2022-12-31
COMPANY REGISTRATION NUMBER: 12708962
Design Abled Ltd
Filleted Unaudited Financial Statements
31 December 2023
Design Abled Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
37,438
30,420
Current assets
Stocks
13,824
Debtors
6
28,875
4,682
Cash at bank and in hand
10,136
23,259
-------
-------
52,835
27,941
Creditors: amounts falling due within one year
7
111,297
80,565
--------
-------
Net current liabilities
58,462
52,624
-------
-------
Total assets less current liabilities
( 21,024)
( 22,204)
-------
-------
Net liabilities
( 21,024)
( 22,204)
-------
-------
Capital and reserves
Called up share capital
8
100
100
Share premium account
49,995
49,995
Profit and loss account
( 71,119)
( 72,299)
-------
-------
Shareholders deficit
( 21,024)
( 22,204)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Design Abled Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
D Ezekiel
Director
Company registration number: 12708962
Design Abled Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered and trading in England and Wales. The address of the registered office is 8 Jury Street, Warwick, CV34 4EW. The company's registration number is 12708962 .
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.
Going concern
The continuation of the company's affairs is dependent upon the support of the directors. These accounts have been prepared on a going concern basis which assumes their support for the foreseeable future.
Judgements and key sources of estimation uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 January 2023
35,200
35,200
Additions
13,235
13,235
-------
-------
At 31 December 2023
48,435
48,435
-------
-------
Depreciation
At 1 January 2023
4,780
4,780
Charge for the year
6,217
6,217
-------
-------
At 31 December 2023
10,997
10,997
-------
-------
Carrying amount
At 31 December 2023
37,438
37,438
-------
-------
At 31 December 2022
30,420
30,420
-------
-------
6. Debtors
2023
2022
£
£
Other debtors
28,875
4,682
-------
------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
5,808
892
Social security and other taxes
389
Other creditors
105,489
79,284
--------
-------
111,297
80,565
--------
-------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary A shares of £ 0.01 each
6,650
67
6,650
67
Ordinary B shares of £ 0.01 each
2,850
29
2,850
29
Ordinary C shares of £ 0.01 each
500
5
500
5
-------
----
-------
----
10,000
100
10,000
100
-------
----
-------
----
9. Directors' advances, credits and guarantees
At the reporting date the directors loan account was in credit by £286 (2022: £428). There is no fixed term for repayment and no interest is charged .
10. Related party transactions
The company was under the control of D Ezekiel , J J J Ezekiel and B Inanc during the current and previous period.