Company registration number 13715435 (England and Wales)
DES BAINS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
DES BAINS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
DES BAINS LTD (REGISTERED NUMBER: 13715435)
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
70,382
8,426
Cash at bank and in hand
1,275
10,575
71,657
19,001
Creditors: amounts falling due within one year
4
(245,545)
(127,831)
Net current liabilities
(173,888)
(108,830)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(173,988)
(108,930)
Total equity
(173,888)
(108,830)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her 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.
The financial statements were approved and signed by the director and authorised for issue on 4 September 2024
Maria Biondo
Director
DES BAINS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information
Des Bains Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 20 Great Portland Street, First Floor, London, England, W1W 8RQ.
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 £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received for artwork provided in the normal course of business.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
6,210
8,360
Other debtors
64,172
66
70,382
8,426
DES BAINS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,409
Taxation and social security
9,423
5,331
Other creditors
236,122
120,091
245,545
127,831
5
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
£
£
148,500
162,000
6
Related party transactions
At the balance sheet date, a shareholder owed the company £12,861 (2022: £Nil).
At the balance sheet date, a shareholder of the company was owed £30,000 (2022: £30,000).
Included within other creditors is a directors loan account amounting to £203,503 (2022: £83,378).