REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
D B Designs Southern Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
D B Designs Southern Limited |
D B Designs Southern Limited (Registered number: 04088330) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
D B Designs Southern Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Coveham House |
Downside Bridge Road |
Cobham |
Surrey |
KT11 3EP |
D B Designs Southern Limited (Registered number: 04088330) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
D B Designs Southern Limited (Registered number: 04088330) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
D B Designs Southern Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery - 25% Straight line |
Motor vehicles - 25% Straight line |
Furniture, fittings and equipment - 25% Straight line |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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. |
D B Designs Southern Limited (Registered number: 04088330) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Notes to the accounts |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using |
the effective interest method, less impairment losses for bad and doubtful debts. |
Trade and other 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. |
Foreign currencies |
The functional and presentational currency of the company is Sterling. The accounts are rounded to the |
nearest pound. |
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate |
of exchange on the date the transaction occurred. Monetary items denominated in other currencies are |
translated at the rate prevailing at the end of the reporting period.All differences are taken to the profit |
and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not |
retranslated. |
Intangible fixed assets |
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses. |
Freehold investment property |
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit |
and loss account. |
No depreciation is provided in respect of investment properties. |
Investments |
Unlisted investments are recognised initially at fair value less attributable transaction costs. Subsequent |
to initial recognition, any changes in fair value are recognised in profit and loss. |
Leased assets |
Where the company enters into a lease which entails taking substantially all the risks and rewards of |
ownership of an asset, the lease is treated as a finance lease. |
Leases which do not transfer substantially all the risks and rewards of ownership to the Company are |
classified as operating leases. |
Assets held under finance leases are initially recognised as assets of the Company at their fair value at the |
inception of the lease or, if lower, at the present value of the minimum lease payments. The |
corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. |
Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to |
achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are |
recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which |
case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting |
policy above). |
Assets held under finance leases are depreciated in the same way as owned assets. |
D B Designs Southern Limited (Registered number: 04088330) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. |
In the event that lease incentives are received to enter into operating leases, such incentives are |
recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense |
on a straight-line basis. |
Provisions |
Provisions are made where an event has taken place that gives the Company a legal or constructive |
obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate |
can be made of the amount of the obligation. |
Provisions are charged as an expense to the profit and loss account in the year that the Company |
becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the |
expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
When payments are eventually made, they are charged to the provision carried in the balance sheet. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Other debtors |
D B Designs Southern Limited (Registered number: 04088330) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |