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Registration number: 12613600

Dartington Service Design Lab Limited

Filleted Financial Statements

for the Year Ended 31 March 2024

 

Dartington Service Design Lab Limited

Contents

Statement of Financial Position

1

Notes to the Financial Statements

2 to 7

 

Dartington Service Design Lab Limited

(Registration number: 12613600)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

10,619

20,088

Current assets

 

Debtors

6

562,589

779,209

Cash at bank and in hand

 

240,800

152,237

 

803,389

931,446

Creditors: Amounts falling due within one year

7

(416,719)

(454,138)

Net current assets

 

386,670

477,308

Total assets less current liabilities

 

397,289

497,396

Creditors: Amounts falling due after more than one year

7

(551,528)

(440,254)

Provisions for liabilities

(2,018)

(3,817)

Net (liabilities)/assets

 

(156,257)

53,325

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(156,258)

53,324

Shareholders' (deficit)/funds

 

(156,257)

53,325

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 19 September 2024 and signed on its behalf by:
 


R M Dobson
Director

 

Dartington Service Design Lab Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lower Ground Floor
Higher Mills
Buckfast Abbey
Buckfastleigh
Devon
TQ11 0EE
England and Wales

Principal activity

The principal activity of the company is Research and experimental development on social sciences and humanities

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities- 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (as applicable to companies subject to the small companies' regime).

Basis of preparation

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Turnover

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

Services contracts are recognised based on the stage of completion, which is measured by the amount of staff hours put against the contract.

Grants, donations and investment income are recognised when receivable,where such amounts have terms or conditions which must be met for specific activities, the relevant income is not recognised in the year but deferred and shown on the balance sheet within current liabilities.

 

Dartington Service Design Lab Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 9 October 2024 was Adam Croney ACA, who signed for and on behalf of Westcotts (SW) LLP of Plym House, 3 Longbridge Road, Plymouth, Devon, United Kingdom, PL6 8LT.

.........................................

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Fixed assets held at cost but are only capitalised when the value exceeds £1,000. The company applies a short life policy of 3 years straight line.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

33% at cost


Taxation
Taxation for the year comprises current. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rated 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 between taxable profits and profits reported in the financial statements.

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 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.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

Dartington Service Design Lab Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 21 (2023 - 24).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

11,716

10,832

 

Dartington Service Design Lab Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

34,004

34,004

Additions

2,247

2,247

At 31 March 2024

36,251

36,251

Depreciation

At 1 April 2023

13,916

13,916

Charge for the year

11,716

11,716

At 31 March 2024

25,632

25,632

Carrying amount

At 31 March 2024

10,619

10,619

At 31 March 2023

20,088

20,088

6

Debtors

2024
£

2023
£

Trade debtors

238,824

391,296

Other debtors

23,881

-

Prepayments

2,511

6,502

Accrued income

297,373

381,411

562,589

779,209

 

Dartington Service Design Lab Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

120,044

-

Trade creditors

23,550

109,383

Amounts owed to group undertakings and undertakings in which the company has a participating interest

145,902

175,236

Taxation and social security

20,783

87,102

Accruals and deferred income

103,299

77,550

Other creditors

3,141

4,867

416,719

454,138

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

551,528

440,254

8

Secured debts

The following secured debts are included within creditors:

2024

2023

£

£

Warren House Group Dartington

671,572

543,038

Loans are secured by a fixed and floating charge over the company's assets.

9

Related party transactions

Sales were made to Warren House Group at Dartington totalling £318,495 (2023 - £258,153), in respect of service contracts undertaken. Expenses totalling £125,247 (2023 - £245,006) were cross charged from Warren House Group at Dartington for shared office costs and management time, a closing debtor of £nil (2023 - £189,165) and a closing creditor is owed to Warren House Group at Dartington at the year-end of £817,473 (2023 - £687,661). The loan from Warren House Group at Dartington is secured and interest is charged at 3% above base, interest was payable in the year of £39,778 on this loan. In addition, a donation was made of £53,324 to Warren House at Dartington during the year.

 

Dartington Service Design Lab Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

10

Parent and ultimate parent undertaking

The parent of the largest group in which these financial statements are consolidated is Warren House Group At Dartington.

The address of Warren House Group At Dartington is:
Lower Ground Floor, Higher Mills, Buckfast Abbey, Buckfastleigh, Devon, England, TQ11 0EE