Company Registration No. 04593358 (England and Wales)
The Design Exchange (UK) Limited
Unaudited accounts
for the year ended 31 December 2023
The Design Exchange (UK) Limited
Unaudited accounts
Contents
The Design Exchange (UK) Limited
Company Information
for the year ended 31 December 2023
Company Number
04593358 (England and Wales)
Registered Office
First Floor
35 Brrok Street
Ilkley
LS29 8AG
The Design Exchange (UK) Limited
Statement of financial position
as at 31 December 2023
Tangible assets
35,864
8,141
Cash at bank and in hand
7,650
47,762
Creditors: amounts falling due within one year
29,730
28,269
Net current assets
74,426
124,723
Net assets
110,290
132,864
Called up share capital
1
1
Profit and loss account
110,289
132,863
Shareholders' funds
110,290
132,864
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 July 2024 and were signed on its behalf by
Mr RE Carr
Director
Company Registration No. 04593358
The Design Exchange (UK) Limited
Notes to the Accounts
for the year ended 31 December 2023
The Design Exchange (UK) Limited is a private company, limited by shares, registered in England and Wales, registration number 04593358. The registered office is First Floor, 35 Brrok Street, Ilkley, LS29 8AG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
33% on Cost
The Design Exchange (UK) Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
5,115
30,375
5,489
9,511
50,490
Additions
-
34,232
-
-
34,232
Disposals
-
(30,375)
-
-
(30,375)
At 31 December 2023
5,115
34,232
5,489
9,511
54,347
At 1 January 2023
4,210
27,335
4,179
6,625
42,349
Charge for the year
226
-
357
2,886
3,469
On disposals
-
(27,335)
-
-
(27,335)
At 31 December 2023
4,436
-
4,536
9,511
18,483
At 31 December 2023
679
34,232
953
-
35,864
At 31 December 2022
905
3,040
1,310
2,886
8,141
Amounts falling due within one year
Trade debtors
21,096
32,742
Accrued income and prepayments
15,950
15,950
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
3,783
6,569
Taxes and social security
6,805
42,442
Loans from directors
(40,318)
(77,280)
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).