Design ID Consulting Limited
Unaudited Financial Statements
31 March 2024
Registered number
NI606478
Design ID Consulting Limited
Registered number: NI606478
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 646,751 572,388
Current assets
Work in progress 450,910 468,945
Debtors 5 1,736,433 1,448,891
Cash at bank and in hand 74,137 145,197
2,261,480 2,063,033
Creditors: amounts falling due within one year 6 (663,211) (632,824)
Net current assets 1,598,269 1,430,209
Total assets less current liabilities 2,245,020 2,002,597
Creditors: amounts falling due after more than one year 7 (18,189) (34,477)
Provisions for liabilities (101,636) (98,380)
Net assets 2,125,195 1,869,740
Capital and reserves
Called up share capital 140 140
Profit and loss account 2,125,055 1,869,600
Shareholders' funds 2,125,195 1,869,740
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ian Douglas
Director
Approved by the Board on 27 December 2024
Design ID Consulting Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Long leasehold 10% straight line
Fixtures, fittings & equipment 15% reducing balance
Computer equipment 33% straight line
Motor vehicles 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 64 57
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 319,500
At 31 March 2024 319,500
Amortisation
At 1 April 2023 319,500
At 31 March 2024 319,500
Net book value
At 31 March 2024 -
Goodwill is fully written off having being amortised over an economic life of 5 years.
4 Tangible fixed assets
Long leasehold Fixtures, fittings & equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 400,867 626,078 52,640 1,079,585
Additions 109,801 94,228 - 204,029
At 31 March 2024 510,668 720,306 52,640 1,283,614
Depreciation
At 1 April 2023 118,504 364,653 24,040 507,197
Charge for the year 43,987 75,151 10,528 129,666
At 31 March 2024 162,491 439,804 34,568 636,863
Net book value
At 31 March 2024 348,177 280,502 18,072 646,751
At 31 March 2023 282,363 261,425 28,600 572,388
5 Debtors 2024 2023
£ £
Trade debtors 1,318,771 936,648
Other debtors 417,662 512,243
1,736,433 1,448,891
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 128,802 9,816
Obligations under finance lease and hire purchase contracts 6,224 8,829
Trade creditors 316,538 233,404
Taxation and social security costs 166,351 204,775
Other creditors 45,296 176,000
663,211 632,824
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 18,189 28,253
Obligations under finance lease and hire purchase contracts - 6,224
18,189 34,477
8 Secured Debts
Northern Bank Limited hold an all monies floating charge over the company's assets as security for facilities held.
9 Other information
Design ID Consulting Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
23 Lisburn Road
Hillsborough
County Down
BT26 6AA
Design ID Consulting Limited NI606478 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Ian Douglas No description of principal activity NI606478 2022-04-01 2023-03-31 NI606478 core:WithinOneYear 2023-03-31 NI606478 core:AfterOneYear 2023-03-31 NI606478 core:ShareCapital 2023-03-31 NI606478 core:RetainedEarningsAccumulatedLosses 2023-03-31 NI606478 2023-04-01 2024-03-31 NI606478 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI606478 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 NI606478 bus:Director40 2023-04-01 2024-03-31 NI606478 1 2023-04-01 2024-03-31 NI606478 2 2023-04-01 2024-03-31 NI606478 core:LandBuildings 2023-04-01 2024-03-31 NI606478 core:PlantMachinery 2023-04-01 2024-03-31 NI606478 core:Vehicles 2023-04-01 2024-03-31 NI606478 countries:England 2023-04-01 2024-03-31 NI606478 bus:FRS102 2023-04-01 2024-03-31 NI606478 bus:FilletedAccounts 2023-04-01 2024-03-31 NI606478 2024-03-31 NI606478 core:WithinOneYear 2024-03-31 NI606478 core:AfterOneYear 2024-03-31 NI606478 core:ShareCapital 2024-03-31 NI606478 core:RetainedEarningsAccumulatedLosses 2024-03-31 NI606478 core:Goodwill 2024-03-31 NI606478 core:LandBuildings 2024-03-31 NI606478 core:PlantMachinery 2024-03-31 NI606478 core:Vehicles 2024-03-31 NI606478 2023-03-31 NI606478 core:Goodwill 2023-03-31 NI606478 core:LandBuildings 2023-03-31 NI606478 core:PlantMachinery 2023-03-31 NI606478 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure