Design & Display Limited 02612800 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is manufacturing and supplying of shopfitting equipment, postforming and laminate fabrication. Digita Accounts Production Advanced 6.30.9574.0 true 02612800 2023-08-01 2024-07-31 02612800 2024-07-31 02612800 core:RetainedEarningsAccumulatedLosses 2024-07-31 02612800 core:ShareCapital 2024-07-31 02612800 core:CurrentFinancialInstruments 2024-07-31 02612800 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 02612800 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 02612800 core:FurnitureFittingsToolsEquipment 2024-07-31 02612800 core:MotorVehicles 2024-07-31 02612800 core:OtherPropertyPlantEquipment 2024-07-31 02612800 bus:SmallEntities 2023-08-01 2024-07-31 02612800 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 02612800 bus:FilletedAccounts 2023-08-01 2024-07-31 02612800 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 02612800 bus:RegisteredOffice 2023-08-01 2024-07-31 02612800 bus:Director8 2023-08-01 2024-07-31 02612800 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 02612800 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 02612800 core:MotorVehicles 2023-08-01 2024-07-31 02612800 core:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 02612800 core:PlantMachinery 2023-08-01 2024-07-31 02612800 countries:EnglandWales 2023-08-01 2024-07-31 02612800 2023-07-31 02612800 core:FurnitureFittingsToolsEquipment 2023-07-31 02612800 core:MotorVehicles 2023-07-31 02612800 core:OtherPropertyPlantEquipment 2023-07-31 02612800 2022-08-01 2023-07-31 02612800 2023-07-31 02612800 core:RetainedEarningsAccumulatedLosses 2023-07-31 02612800 core:ShareCapital 2023-07-31 02612800 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 02612800 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 02612800 core:FurnitureFittingsToolsEquipment 2023-07-31 02612800 core:MotorVehicles 2023-07-31 02612800 core:OtherPropertyPlantEquipment 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 02612800

Design & Display Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Design & Display Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Design & Display Limited

Balance Sheet

as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

209,610

169,579

Current assets

 

Stocks

1,036,119

1,075,035

Debtors

5

2,231,334

1,506,519

Cash at bank and in hand

 

546,291

357,984

 

3,813,744

2,939,538

Creditors: Amounts falling due within one year

6

(1,543,317)

(1,315,084)

Net current assets

 

2,270,427

1,624,454

Total assets less current liabilities

 

2,480,037

1,794,033

Creditors: Amounts falling due after more than one year

6

(89,353)

(80,718)

Provisions for liabilities

(45,196)

(33,765)

Net assets

 

2,345,488

1,679,550

Capital and reserves

 

Allotted, called up and fully paid share capital

2,000

2,000

Profit and loss account

2,343,488

1,677,550

Shareholders' funds

 

2,345,488

1,679,550

Registration number: 02612800

 

Design & Display Limited

Balance Sheet

as at 31 July 2024 (continued)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

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.

Approved and authorised by the Board on 18 October 2024 and signed on its behalf by:
 

.........................................
Mr J A Worsnop
Director

   
     
 

Design & Display Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 July 2024

1

General information

The company is a private company limited by shares incorporated in England and Wales within the United Kingdom.

The company's registration number is 02612800.

The address of its registered office is:
Lowfields Way
Lowfields Business Park
Elland
West Yorkshire
HX5 9DA

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 United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer.

 

Design & Display Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Government grants

Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.”

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost (or deemed cost), less any accumulated depreciation and accumulated impairment losses.

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

 

Design & Display Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% per annum on a reducing balance basis

Fixtures, fittings and equipment

25% per annum on a reducing balance basis and 33% per annum on a straight line basis

Motor vehicles

25% per annum on a reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Finished goods and work in progress comprise of direct materials, applicable labour costs and overheads that have been incurred in bringing the inventories to their condition. Stocks are assessed for impairment and impaired stock is reduced to its selling price less costs to complete and sell; any impairment loss is recognised immediately in the profit and loss.

Leases

Hire purchase agreements are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are capitalised and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Defined contribution pension obligation

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions are charged to the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 51 (2023 - 50).

 

Design & Display Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 July 2024 (continued)

4

Tangible assets

Fixtures, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost

At 1 August 2023

312,251

25,100

1,939,655

2,277,006

Additions

-

-

96,500

96,500

At 31 July 2024

312,251

25,100

2,036,155

2,373,506

Depreciation

At 1 August 2023

309,305

20,966

1,777,156

2,107,427

Charge for the year

737

1,034

54,698

56,469

At 31 July 2024

310,042

22,000

1,831,854

2,163,896

Net book value

At 31 July 2024

2,209

3,100

204,301

209,610

At 31 July 2023

2,946

4,134

162,499

169,579

5

Debtors

2024
£

2023
£

Trade debtors

1,378,976

1,382,985

Prepayments

130,945

123,534

Other debtors

721,413

-

 

2,231,334

1,506,519

Debtors falling due after more than 1 year

£918 (2023 -£Nil) of Other debtors is classified as non current.

 

Design & Display Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 July 2024 (continued)

6

Creditors

2024
£

2023
£

Due within one year

Bank loans and overdrafts

10,000

10,000

Trade creditors

715,034

946,030

Directors' loan accounts

43,129

33,875

Taxation and social security

296,207

70,830

Finance lease liabilities

59,405

28,749

Other creditors

8,534

38,350

Accruals and deferred income

87,623

55,356

Corporation tax

323,385

131,894

1,543,317

1,315,084

Due after one year

Bank loans and overdrafts

11,667

21,667

Finance lease liabilities

77,686

59,051

89,353

80,718


The finance lease liabilities are secured on the fixed assets of the company.

7

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £35,264 (2023 - £33,894).

Contributions totalling £8,534 (2023 - £9,326) were payable to the scheme at the end of the year and are included in creditors.

 

Design & Display Limited

Notes to the Unaudited Financial Statements

for the Year Ended 31 July 2024 (continued)

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £50,950 (2023 - £Nil).