DESIGNATECH (B'HAM) LIMITED

Company Registration Number:
02470015 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

DESIGNATECH (B'HAM) LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

DESIGNATECH (B'HAM) LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 29,237 24,392
Total fixed assets: 29,237 24,392
Current assets
Stocks: 1,500 1,200
Debtors:   162,343 159,103
Cash at bank and in hand: 96,909 76,400
Total current assets: 260,752 236,703
Creditors: amounts falling due within one year:   (213,018) (183,939)
Net current assets (liabilities): 47,734 52,764
Total assets less current liabilities: 76,971 77,156
Creditors: amounts falling due after more than one year:   (27,054) (41,284)
Total net assets (liabilities): 49,917 35,872
Capital and reserves
Called up share capital: 110 110
Other reserves: 10 10
Profit and loss account: 49,797 35,752
Shareholders funds: 49,917 35,872

The notes form part of these financial statements

DESIGNATECH (B'HAM) LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 18 September 2024
and signed on behalf of the board by:

Name: P. Riches
Status: Director

The notes form part of these financial statements

DESIGNATECH (B'HAM) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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.

Tangible fixed assets and depreciation policy

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 equipment - 20% reducing balance Motor vehicle - 25% reducing balance Office furniture and equipment - 25% reducing balance

Other accounting policies

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. 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. Finance leases and hire purchase contracts Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability. 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.

DESIGNATECH (B'HAM) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 14 15

DESIGNATECH (B'HAM) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 93,225
Additions 12,511
At 31 December 2023 105,736
Depreciation
At 01 January 2023 68,833
Charge for year 7,666
At 31 December 2023 76,499
Net book value
At 31 December 2023 29,237
At 31 December 2022 24,392

DESIGNATECH (B'HAM) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Related party transactions

Name of the related party: APR Holdings
Relationship:
Supplier
Description of the Transaction: The directors had a material interest in the trading contract with APR Holdings by virtue of their being partners in that business also. The aggregate value of transactions during the year was as follows: Purchases £10,800 (2022 £10,800)
£
Balance at 01 January 2023 2,160
Balance at 31 December 2023 2,160