Registered number
14145924
DesignPad Ltd
Unaudited Filleted Accounts
30 June 2024
DesignPad Ltd
Company Information
Director
Mr A R Oakes
Accountants
Keith Graham
Chartered Accountants
Suite 2 Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
Registered office
7 Burnside
Fleet
Hampshire
GU51 3RE
Registered number
14145924
DesignPad Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of DesignPad Ltd for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DesignPad Ltd for the year ended 30 June 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/ members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of DesignPad Ltd, as a body, in accordance with the terms of our engagement letter dated 7 February 2023. Our work has been undertaken solely to prepare for your approval the accounts of DesignPad Ltd and state those matters that we have agreed to state to the Board of Directors of DesignPad Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DesignPad Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that DesignPad Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of DesignPad Ltd. You consider that DesignPad Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of DesignPad Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Keith Graham
Chartered Accountants
Suite 2 Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
15 October 2024
DesignPad Ltd
Registered number: 14145924
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 915 1,220
Current assets
Debtors 4 1,977 1,436
Cash at bank and in hand 3,616 7,209
5,593 8,645
Creditors: amounts falling due within one year 5 (6,230) (8,658)
Net current liabilities (637) (13)
Total assets less current liabilities 278 1,207
Provisions for liabilities (229) (232)
Net assets 49 975
Capital and reserves
Called up share capital 1 1
Profit and loss account 48 974
Shareholder's funds 49 975
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A R Oakes
Director
Approved by the board on 14 October 2024
DesignPad Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of design services. Turnover from the rendering of design 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% Straight Line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 1,525
At 30 June 2024 1,525
Depreciation
At 1 July 2023 305
Charge for the year 305
At 30 June 2024 610
Net book value
At 30 June 2024 915
At 30 June 2023 1,220
4 Debtors 2024 2023
£ £
Trade debtors 1,851 1,314
Other debtors 126 122
1,977 1,436
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 2,806 1,461
Other creditors 3,424 7,197
6,230 8,658
6 Other information
DesignPad Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7 Burnside
Fleet
GU51 3RE
The functional currency for these accounts is Sterling.
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