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REGISTERED NUMBER: 07861739 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

DESIGN REALISED (KENT) LIMITED

DESIGN REALISED (KENT) LIMITED (REGISTERED NUMBER: 07861739)

Contents of the Financial Statements
for the year ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DESIGN REALISED (KENT) LIMITED

Company Information
for the year ended 30 June 2023







Directors: B Depascalis
Mrs M Depascalis





Registered office: C/O Cooper Parry
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 07861739 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA

DESIGN REALISED (KENT) LIMITED (REGISTERED NUMBER: 07861739)

Balance Sheet
30 June 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 83,286 111,048

Current assets
Stocks 1,200,000 2,400,000
Debtors 5 3,145,138 -
Cash at bank 62,249 1,611,037
4,407,387 4,011,037
Creditors
Amounts falling due within one year 6 1,060,365 740,691
Net current assets 3,347,022 3,270,346
Total assets less current liabilities 3,430,308 3,381,394

Creditors
Amounts falling due after more than one
year

7

1,380,551

2,384,747
Net assets 2,049,757 996,647

Capital and reserves
Called up share capital 8 1 1
Retained earnings 9 2,049,756 996,646
Shareholders' funds 2,049,757 996,647

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

DESIGN REALISED (KENT) LIMITED (REGISTERED NUMBER: 07861739)

Balance Sheet - continued
30 June 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





B Depascalis - Director


DESIGN REALISED (KENT) LIMITED (REGISTERED NUMBER: 07861739)

Notes to the Financial Statements
for the year ended 30 June 2023


1. Statutory information

Design Realised (Kent) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

DESIGN REALISED (KENT) LIMITED (REGISTERED NUMBER: 07861739)

Notes to the Financial Statements - continued
for the year ended 30 June 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

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 NIL (2022 - 2 ).

4. Tangible fixed assets
Motor
vehicles
£
Cost
At 1 July 2022
and 30 June 2023 146,960
Depreciation
At 1 July 2022 35,913
Charge for year 27,761
At 30 June 2023 63,674
Net book value
At 30 June 2023 83,286
At 30 June 2022 111,047

DESIGN REALISED (KENT) LIMITED (REGISTERED NUMBER: 07861739)

Notes to the Financial Statements - continued
for the year ended 30 June 2023


4. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
Cost
At 1 July 2022
and 30 June 2023 55,338
Depreciation
At 1 July 2022 5,135
Charge for year 13,212
At 30 June 2023 18,347
Net book value
At 30 June 2023 36,991
At 30 June 2022 50,203

5. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors 3,145,138 -

6. Creditors: amounts falling due within one year
2023 2022
£ £
Hire purchase contracts 19,813 19,813
Trade creditors 100,635 60,998
Amounts owed to associates 433,833 474,687
Taxation and social security 440,806 126,357
Other creditors 65,278 58,836
1,060,365 740,691

7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans 1,350,662 1,425,154
Hire purchase contracts 29,889 47,921
Other creditors - 911,672
1,380,551 2,384,747

DESIGN REALISED (KENT) LIMITED (REGISTERED NUMBER: 07861739)

Notes to the Financial Statements - continued
for the year ended 30 June 2023


8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1 Ordinary Shares £1 1 1

9. Reserves
Retained
earnings
£

At 1 July 2022 996,646
Profit for the year 1,083,110
Dividends (30,000 )
At 30 June 2023 2,049,756

10. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the year ended 30 June 2023 and the period ended 30 June 2022:

2023 2022
£ £
B Depascalis and Mrs M Depascalis
Balance outstanding at start of year - -
Amounts advanced 3,145,138 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,145,138 -

The Directors expect to repay the overdrawn balance in the near future from the sale of personal assets.