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REGISTERED NUMBER: 02692834 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

DESIGN RATIONALE LIMITED

DESIGN RATIONALE LIMITED (REGISTERED NUMBER: 02692834)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DESIGN RATIONALE LIMITED

COMPANY INFORMATION
for the Year Ended 31 JANUARY 2024







DIRECTOR: Mr R W Heap





REGISTERED OFFICE: Fiveways
57-59 Hatfield Road
Potters Bar
Hertfordshire
EN6 1HS





REGISTERED NUMBER: 02692834 (England and Wales)





ACCOUNTANTS: SRG Newmans Limited
Five Ways
57-59 Hatfield Road
Potters Bar
Hertfordshire
EN6 1HS

DESIGN RATIONALE LIMITED (REGISTERED NUMBER: 02692834)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,734 69,995

CURRENT ASSETS
Debtors 5 539,559 1,291,326
Cash at bank and in hand 1,627,549 495,237
2,167,108 1,786,563
CREDITORS
Amounts falling due within one year 6 1,720,502 604,633
NET CURRENT ASSETS 446,606 1,181,930
TOTAL ASSETS LESS CURRENT
LIABILITIES

498,340

1,251,925

CREDITORS
Amounts falling due after more than one
year

7

(110,833

)

(198,833

)

PROVISIONS FOR LIABILITIES (6,298 ) (3,578 )
NET ASSETS 381,209 1,049,514

DESIGN RATIONALE LIMITED (REGISTERED NUMBER: 02692834)

BALANCE SHEET - continued
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,122 2,156
Capital redemption reserve 1,034 -
Other reserves 44 44
Retained earnings 379,009 1,047,314
SHAREHOLDERS' FUNDS 381,209 1,049,514

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 29 October 2024 and were signed by:





Mr R W Heap - Director


DESIGN RATIONALE LIMITED (REGISTERED NUMBER: 02692834)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 JANUARY 2024

1. STATUTORY INFORMATION

Design Rationale 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.

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.
Improvements to property - in accordance with the property
Plant and machinery - 15% on reducing balance
Bicycles - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

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.


DESIGN RATIONALE LIMITED (REGISTERED NUMBER: 02692834)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued
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.

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 23 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Bicycles
£    £    £   
COST
At 1 February 2023 85,055 129,158 6,257
Additions - - -
Disposals - - -
At 31 January 2024 85,055 129,158 6,257
DEPRECIATION
At 1 February 2023 85,055 118,653 3,618
Charge for year - 1,576 659
Eliminated on disposal - - -
At 31 January 2024 85,055 120,229 4,277
NET BOOK VALUE
At 31 January 2024 - 8,929 1,980
At 31 January 2023 - 10,505 2,639

DESIGN RATIONALE LIMITED (REGISTERED NUMBER: 02692834)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 56,207 203,695 480,372
Additions 15,750 - 15,750
Disposals (30,000 ) - (30,000 )
At 31 January 2024 41,957 203,695 466,122
DEPRECIATION
At 1 February 2023 31,854 171,197 410,377
Charge for year 9,887 4,875 16,997
Eliminated on disposal (12,986 ) - (12,986 )
At 31 January 2024 28,755 176,072 414,388
NET BOOK VALUE
At 31 January 2024 13,202 27,623 51,734
At 31 January 2023 24,353 32,498 69,995

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 527,511 1,263,251
Prepayments 12,048 28,075
539,559 1,291,326

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 70,000 70,000
Hire purchase contracts - 6,750
Trade creditors 235,449 378,141
Tax 109,024 255,444
Social security and other taxes (105,726 ) (110,171 )
Other creditors 10,116 3,528
Directors' current accounts 1,639 941
Accruals and deferred income 1,400,000 -
1,720,502 604,633

DESIGN RATIONALE LIMITED (REGISTERED NUMBER: 02692834)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 JANUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 110,833 180,833
Hire purchase contracts - 18,000
110,833 198,833

The above Coronavirus Business Interruption Loan is partially guaranteed by the Secretary of State but the company remains liable for all sums payable by way of a fixed and floating charge over the company's assets. The loan term is 6 years from the date of issue (24 August 2020). No repayments or interest are required/charged for the first 12 months. Interest is charged at a rate of 3.34% per annum over base rate.

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R W Heap.