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REGISTERED NUMBER: 05137435 (England and Wales)








Unaudited Financial Statements

For The Year Ended 31 May 2024

for

Services Design Solution Ltd

Services Design Solution Ltd (Registered number: 05137435)






Contents of the Financial Statements
For The Year Ended 31 May 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Services Design Solution Ltd (Registered number: 05137435)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 243,032 236,712

CURRENT ASSETS
Stocks 679,681 500,919
Debtors 5 1,995,313 1,929,968
Cash at bank 2,164,896 1,653,875
4,839,890 4,084,762
CREDITORS
Amounts falling due within one year 6 1,720,420 1,474,076
NET CURRENT ASSETS 3,119,470 2,610,686
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,362,502

2,847,398

CREDITORS
Amounts falling due after more than one
year

7

(24,460

)

(24,937

)

PROVISIONS FOR LIABILITIES (45,221 ) (35,878 )
NET ASSETS 3,292,821 2,786,583

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 3,292,721 2,786,483
SHAREHOLDERS' FUNDS 3,292,821 2,786,583

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 August 2024 and were signed by:





S Hoppins - Director


Services Design Solution Ltd (Registered number: 05137435)

Notes to the Financial Statements
For The Year Ended 31 May 2024

1. STATUTORY INFORMATION

Services Design Solution Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05137435

Registered office: 20-23 Mary Seacole Road
The Millfields
Plymouth
Devon
PL1 3JY

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services excluding value added tax. Turnover is recognised when services are provided to the customer. Amounts received in advance of services being provided are adjusted within the work in progress computation.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - in accordance with the property
Plant and machinery etc - 33% on cost, 20% on reducing balance and 10% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Services Design Solution Ltd (Registered number: 05137435)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 89 (2023 - 76 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 1,271 938,349 939,620
Additions - 116,312 116,312
At 31 May 2024 1,271 1,054,661 1,055,932
DEPRECIATION
At 1 June 2023 - 702,908 702,908
Charge for year 1,271 108,721 109,992
At 31 May 2024 1,271 811,629 812,900
NET BOOK VALUE
At 31 May 2024 - 243,032 243,032
At 31 May 2023 1,271 235,441 236,712

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023 167,032
Additions 13,077
At 31 May 2024 180,109
DEPRECIATION
At 1 June 2023 91,506
Charge for year 41,292
At 31 May 2024 132,798
NET BOOK VALUE
At 31 May 2024 47,311
At 31 May 2023 75,526

Services Design Solution Ltd (Registered number: 05137435)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024

5. DEBTORS
31.5.24 31.5.23
£    £   
Amounts falling due within one year:
Trade debtors 1,714,439 1,785,424
Other debtors 280,041 144,544
1,994,480 1,929,968

Amounts falling due after more than one year:
Other debtors 833 -

Aggregate amounts 1,995,313 1,929,968

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Finance leases (see note 8) 26,247 50,725
Trade creditors 210,550 112,582
Taxation and social security 787,870 644,238
Other creditors 695,753 666,531
1,720,420 1,474,076

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Finance leases (see note 8) 24,460 24,937

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 26,247 50,725
Between one and five years 24,460 24,937
50,707 75,662

Non-cancellable operating leases
31.5.24 31.5.23
£    £   
Within one year 80,918 55,864
Between one and five years 39,462 25,075
120,380 80,939