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REGISTERED NUMBER: 03497585 (England and Wales)













Unaudited Financial Statements

for the Year Ended 29 February 2024

for

DA Design Automation Ltd

DA Design Automation Ltd (Registered number: 03497585)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


DA Design Automation Ltd

Company Information
for the year ended 29 February 2024







DIRECTORS: T Walton
J Morris





REGISTERED OFFICE: Plot 3B
Huyton Road
Adlington
Chorley
Lancashire
PR7 4HD





REGISTERED NUMBER: 03497585 (England and Wales)





ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

DA Design Automation Ltd (Registered number: 03497585)

Abridged Balance Sheet
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 299,231 350,278

CURRENT ASSETS
Stocks 5,269 2,000
Debtors 139,277 137,510
Cash at bank and in hand 26,160 -
170,706 139,510
CREDITORS
Amounts falling due within one year 227,924 229,968
NET CURRENT LIABILITIES (57,218 ) (90,458 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

242,013

259,820

CREDITORS
Amounts falling due after more than one
year

(105,640

)

(210,753

)

PROVISIONS FOR LIABILITIES (32,263 ) (8,724 )
NET ASSETS 104,110 40,343

CAPITAL AND RESERVES
Called up share capital 7 40,000 40,000
Retained earnings 64,110 343
SHAREHOLDERS' FUNDS 104,110 40,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

DA Design Automation Ltd (Registered number: 03497585)

Abridged Balance Sheet - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





T Walton - Director


DA Design Automation Ltd (Registered number: 03497585)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

DA Design Automation Ltd 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.

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.

The financial statements have been prepared on a going concern basis. The company has net current liabilities in the current year. The company is reliant on the continued support of the director. The directors are of the opinion that trading performance will improve over the next financial year and that the relevant support will be maintained. No adjustments have been made that may have been found necessary if any other basis of preparation had been used.

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

The company sells light engineering services to other manufacturers. Revenue is recognised in the accounting period in which the services are rendered when the outcome of contract can be estimated reliably. The company uses the percentage of completion method based on the actual service performed as a percentage of the total services to be provided.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

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

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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.


DA Design Automation Ltd (Registered number: 03497585)

Notes to the Financial Statements - continued
for the year ended 29 February 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.

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 9 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 667,244
Additions 3,479
Disposals (11,365 )
At 29 February 2024 659,358
DEPRECIATION
At 1 March 2023 316,966
Charge for year 53,059
Eliminated on disposal (9,898 )
At 29 February 2024 360,127
NET BOOK VALUE
At 29 February 2024 299,231
At 28 February 2023 350,278

DA Design Automation Ltd (Registered number: 03497585)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 March 2023
and 29 February 2024 445,698
DEPRECIATION
At 1 March 2023 136,686
Charge for year 46,352
At 29 February 2024 183,038
NET BOOK VALUE
At 29 February 2024 262,660
At 28 February 2023 309,012

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
29/2/24 28/2/23
£    £   
Net obligations repayable:
Within one year 80,864 78,406
Between one and five years 91,587 172,451
172,451 250,857

Non-cancellable operating leases
29/2/24 28/2/23
£    £   
Between one and five years 112,000 -
In more than five years - 136,000
112,000 136,000

6. SECURED DEBTS

The following secured debts are included within creditors:

29/2/24 28/2/23
£    £   
Hire purchase contracts 172,451 250,857

DA Design Automation Ltd (Registered number: 03497585)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29/2/24 28/2/23
value: £    £   
40,000 Ordinary £1 40,000 40,000

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

29/2/24 28/2/23
£    £   
J Morris
Balance outstanding at start of year - (26 )
Amounts advanced - 26
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

T Walton
Balance outstanding at start of year - (7,009 )
Amounts advanced - 7,009
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -