Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr O N Coles 10/04/2007 Mr J A Stanley 14/02/2003 21 October 2024 The principal activity of the Company during the financial year was that of residential development consultants. 04363098 2024-03-31 04363098 bus:Director1 2024-03-31 04363098 bus:Director2 2024-03-31 04363098 2023-03-31 04363098 core:CurrentFinancialInstruments 2024-03-31 04363098 core:CurrentFinancialInstruments 2023-03-31 04363098 core:Non-currentFinancialInstruments 2024-03-31 04363098 core:Non-currentFinancialInstruments 2023-03-31 04363098 core:ShareCapital 2024-03-31 04363098 core:ShareCapital 2023-03-31 04363098 core:RetainedEarningsAccumulatedLosses 2024-03-31 04363098 core:RetainedEarningsAccumulatedLosses 2023-03-31 04363098 core:Goodwill 2023-03-31 04363098 core:Goodwill 2024-03-31 04363098 core:LeaseholdImprovements 2023-03-31 04363098 core:Vehicles 2023-03-31 04363098 core:FurnitureFittings 2023-03-31 04363098 core:ComputerEquipment 2023-03-31 04363098 core:LeaseholdImprovements 2024-03-31 04363098 core:Vehicles 2024-03-31 04363098 core:FurnitureFittings 2024-03-31 04363098 core:ComputerEquipment 2024-03-31 04363098 bus:OrdinaryShareClass1 2024-03-31 04363098 bus:OrdinaryShareClass2 2024-03-31 04363098 bus:OrdinaryShareClass3 2024-03-31 04363098 bus:OrdinaryShareClass4 2024-03-31 04363098 bus:OrdinaryShareClass5 2024-03-31 04363098 bus:OtherShareClass1 2024-03-31 04363098 bus:OtherShareClass2 2024-03-31 04363098 bus:OtherShareClass3 2024-03-31 04363098 bus:OtherShareClass4 2024-03-31 04363098 core:WithinOneYear 2024-03-31 04363098 core:WithinOneYear 2023-03-31 04363098 core:BetweenOneFiveYears 2024-03-31 04363098 core:BetweenOneFiveYears 2023-03-31 04363098 core:MoreThanFiveYears 2024-03-31 04363098 core:MoreThanFiveYears 2023-03-31 04363098 2023-04-01 2024-03-31 04363098 bus:FilletedAccounts 2023-04-01 2024-03-31 04363098 bus:SmallEntities 2023-04-01 2024-03-31 04363098 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04363098 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04363098 bus:Director1 2023-04-01 2024-03-31 04363098 bus:Director2 2023-04-01 2024-03-31 04363098 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 04363098 core:Goodwill 2023-04-01 2024-03-31 04363098 core:LeaseholdImprovements core:TopRangeValue 2023-04-01 2024-03-31 04363098 core:Vehicles 2023-04-01 2024-03-31 04363098 core:FurnitureFittings 2023-04-01 2024-03-31 04363098 core:ComputerEquipment 2023-04-01 2024-03-31 04363098 2022-04-01 2023-03-31 04363098 core:LeaseholdImprovements 2023-04-01 2024-03-31 04363098 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 04363098 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 04363098 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 04363098 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 04363098 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 04363098 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 04363098 bus:OrdinaryShareClass3 2023-04-01 2024-03-31 04363098 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 04363098 bus:OrdinaryShareClass4 2023-04-01 2024-03-31 04363098 bus:OrdinaryShareClass4 2022-04-01 2023-03-31 04363098 bus:OrdinaryShareClass5 2023-04-01 2024-03-31 04363098 bus:OrdinaryShareClass5 2022-04-01 2023-03-31 04363098 bus:OtherShareClass1 2023-04-01 2024-03-31 04363098 bus:OtherShareClass1 2022-04-01 2023-03-31 04363098 bus:OtherShareClass2 2023-04-01 2024-03-31 04363098 bus:OtherShareClass2 2022-04-01 2023-03-31 04363098 bus:OtherShareClass3 2023-04-01 2024-03-31 04363098 bus:OtherShareClass3 2022-04-01 2023-03-31 04363098 bus:OtherShareClass4 2023-04-01 2024-03-31 04363098 bus:OtherShareClass4 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04363098 (England and Wales)

FOCUS DESIGN PARTNERSHIP LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

FOCUS DESIGN PARTNERSHIP LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

FOCUS DESIGN PARTNERSHIP LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
FOCUS DESIGN PARTNERSHIP LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 0 2,168
Tangible assets 4 187,207 162,659
187,207 164,827
Current assets
Debtors 5 343,417 438,612
Cash at bank and in hand 823,803 731,595
1,167,220 1,170,207
Creditors: amounts falling due within one year 6 ( 442,565) ( 445,291)
Net current assets 724,655 724,916
Total assets less current liabilities 911,862 889,743
Creditors: amounts falling due after more than one year 7 ( 38,840) ( 38,186)
Provision for liabilities ( 17,425) ( 23,013)
Net assets 855,597 828,544
Capital and reserves
Called-up share capital 8 110 110
Profit and loss account 855,487 828,434
Total shareholders' funds 855,597 828,544

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Focus Design Partnership Limited (registered number: 04363098) were approved and authorised for issue by the Board of Directors on 21 October 2024. They were signed on its behalf by:

Mr J A Stanley
Director
FOCUS DESIGN PARTNERSHIP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
FOCUS DESIGN PARTNERSHIP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Focus Design Partnership Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom. The principal place of business is The Distillery, The Old Brewery Office Park, 7-11 Lodway, Pill, Bristol, BS20 0DH.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life of 20 years.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Leasehold improvements 4 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 50 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 19 20

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 250,000 250,000
At 31 March 2024 250,000 250,000
Accumulated amortisation
At 01 April 2023 247,832 247,832
Charge for the financial year 2,168 2,168
At 31 March 2024 250,000 250,000
Net book value
At 31 March 2024 0 0
At 31 March 2023 2,168 2,168

4. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2023 51,842 185,342 96,140 127,552 460,876
Additions 0 113,706 0 11,971 125,677
Disposals 0 ( 68,100) 0 0 ( 68,100)
At 31 March 2024 51,842 230,948 96,140 139,523 518,453
Accumulated depreciation
At 01 April 2023 45,571 101,495 60,094 91,057 298,217
Charge for the financial year 4,795 31,750 9,012 21,123 66,680
Disposals 0 ( 33,651) 0 0 ( 33,651)
At 31 March 2024 50,366 99,594 69,106 112,180 331,246
Net book value
At 31 March 2024 1,476 131,354 27,034 27,343 187,207
At 31 March 2023 6,271 83,847 36,046 36,495 162,659

5. Debtors

2024 2023
£ £
Trade debtors 256,926 352,310
Prepayments 86,489 86,300
Other debtors 2 2
343,417 438,612

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 75,445 72,962
Amounts owed to directors 29,603 29,603
Accruals and deferred income 10,443 13,219
Corporation tax 212,052 194,808
Other taxation and social security 60,574 81,912
Obligations under finance leases and hire purchase contracts (secured) 44,311 42,410
Other creditors 10,137 10,377
442,565 445,291

Obligations under finance leases and hire purchase contracts due within one year are secured on the assets under finance.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 38,840 38,186

Obligations under finance leases and hire purchase contracts due after more than one year are secured on the assets under finance.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
102 A ordinary shares of £ 1.00 each 102 102
1 B ordinary share of £ 1.00 1 1
1 C ordinary share of £ 1.00 1 1
1 D ordinary share of £ 1.00 1 1
1 E ordinary share of £ 1.00 1 1
1 F ordinary share of £ 1.00 1 1
1 G ordinary share of £ 1.00 1 1
1 H ordinary share of £ 1.00 1 1
1 I ordinary share of £ 1.00 1 1
110 110

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 45,000 45,000
between one and five years 180,000 180,000
after five years 45,000 90,000
270,000 315,000

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 3,287 3,428

10. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 29,603 29,603
Dividends paid to directors 527,019 434,209

The directors loans are interest free and have no fixed date for repayment.