IRIS Accounts Production v24.2.0.383 05031353 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh050313532023-03-31050313532024-03-31050313532023-04-012024-03-31050313532022-03-31050313532022-04-012023-03-31050313532023-03-3105031353ns15:EnglandWales2023-04-012024-03-3105031353ns14:PoundSterling2023-04-012024-03-3105031353ns10:Director12023-04-012024-03-3105031353ns10:Director22023-04-012024-03-3105031353ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3105031353ns10:SmallEntities2023-04-012024-03-3105031353ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3105031353ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3105031353ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3105031353ns10:FullAccounts2023-04-012024-03-3105031353ns10:OrdinaryShareClass12023-04-012024-03-3105031353ns10:RegisteredOffice2023-04-012024-03-3105031353ns5:CurrentFinancialInstruments2024-03-3105031353ns5:CurrentFinancialInstruments2023-03-3105031353ns5:ShareCapital2024-03-3105031353ns5:ShareCapital2023-03-3105031353ns5:RetainedEarningsAccumulatedLosses2024-03-3105031353ns5:RetainedEarningsAccumulatedLosses2023-03-310503135312023-04-012024-03-3105031353ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-04-012024-03-3105031353ns5:PlantMachinery2023-04-012024-03-3105031353ns5:FurnitureFittings2023-04-012024-03-3105031353ns5:MotorVehicles2023-04-012024-03-3105031353ns5:LandBuildings2023-03-3105031353ns5:PlantMachinery2023-03-3105031353ns5:FurnitureFittings2023-03-3105031353ns5:MotorVehicles2023-03-3105031353ns5:LandBuildings2023-04-012024-03-3105031353ns5:LandBuildings2024-03-3105031353ns5:PlantMachinery2024-03-3105031353ns5:FurnitureFittings2024-03-3105031353ns5:MotorVehicles2024-03-3105031353ns5:LandBuildings2023-03-3105031353ns5:PlantMachinery2023-03-3105031353ns5:FurnitureFittings2023-03-3105031353ns5:MotorVehicles2023-03-3105031353ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3105031353ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3105031353ns5:DeferredTaxation2023-03-3105031353ns5:DeferredTaxation2023-04-012024-03-3105031353ns5:DeferredTaxation2024-03-3105031353ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 05031353 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

DESIGNER METALS LIMITED

DESIGNER METALS LIMITED (REGISTERED NUMBER: 05031353)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

DESIGNER METALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M C Hanson
Mrs K L Hanson





REGISTERED OFFICE: The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY





REGISTERED NUMBER: 05031353 (England and Wales)





ACCOUNTANTS: PWH Accountancy Ltd
The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY

DESIGNER METALS LIMITED (REGISTERED NUMBER: 05031353)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 578,631 488,055

CURRENT ASSETS
Stocks 14,020 13,350
Debtors 6 466,204 190,240
Cash at bank 750,171 921,579
1,230,395 1,125,169
CREDITORS
Amounts falling due within one year 7 317,735 241,882
NET CURRENT ASSETS 912,660 883,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,491,291

1,371,342

PROVISIONS FOR LIABILITIES 8 11,211 14,977
NET ASSETS 1,480,080 1,356,365

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,479,980 1,356,265
SHAREHOLDERS' FUNDS 1,480,080 1,356,365

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

DESIGNER METALS LIMITED (REGISTERED NUMBER: 05031353)

BALANCE SHEET - continued
31 MARCH 2024


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 Board of Directors and authorised for issue on 8 November 2024 and were signed on its behalf by:




M C Hanson - Director



Mrs K L Hanson - Director


DESIGNER METALS LIMITED (REGISTERED NUMBER: 05031353)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Designer Metals 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover
Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% 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.

DESIGNER METALS LIMITED (REGISTERED NUMBER: 05031353)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets
Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities
The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

DESIGNER METALS LIMITED (REGISTERED NUMBER: 05031353)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 372,167 643,096 21,907 134,797 1,171,967
Additions 90,980 - - 51,465 142,445
At 31 March 2024 463,147 643,096 21,907 186,262 1,314,412
DEPRECIATION
At 1 April 2023 28,387 576,500 19,351 59,674 683,912
Charge for year 9,263 16,649 639 25,318 51,869
At 31 March 2024 37,650 593,149 19,990 84,992 735,781
NET BOOK VALUE
At 31 March 2024 425,497 49,947 1,917 101,270 578,631
At 31 March 2023 343,780 66,596 2,556 75,123 488,055

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 290,480 182,178
Staff loans - 1,000
Directors' current accounts 169,966 -
Prepayments and accrued income 5,758 7,062
466,204 190,240

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 118,592 90,679
Tax 91,118 84,943
Social security and other taxes 13,095 5,064
Pension control 6,396 1,092
VAT 56,274 40,092
Other creditors 30,960 18,614
Directors' current accounts - 348
Accrued expenses 1,300 1,050
317,735 241,882

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 11,211 14,977

DESIGNER METALS LIMITED (REGISTERED NUMBER: 05031353)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 14,977
Credit to Income Statement during year (3,766 )
Balance at 31 March 2024 11,211

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary 1 100 100

10. RELATED PARTY DISCLOSURES

At 31 March 2024 an amount of £84,983 was due from Mr M Hanson (2023 £174 due to Mr M Hanson) and £84,983 was due from Mrs K L Hanson (2023 £173 due to Mrs K L Hanson) Both balances were repaid in full after the year end.
.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DESIGNER METALS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Designer Metals Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Designer Metals Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Designer Metals Limited and state those matters that we have agreed to state to the Board of Directors of Designer Metals Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Designer Metals Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Designer Metals Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Designer Metals Limited. You consider that Designer Metals Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Designer Metals Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






PWH Accountancy Ltd
The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY


8 November 2024