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GUESS 1 DESIGN LIMITED

Registered Number
05424447
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

GUESS 1 DESIGN LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

OLDFIELD, Richard David

Company Secretary

OLDFIELD, Janette

Registered Address

9 Willett Close
Petts Wood
Orpington
BR5 1QH

Registered Number

05424447 (England and Wales)
GUESS 1 DESIGN LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets34,2902,580
4,2902,580
Current assets
Debtors46,8131,819
Cash at bank and on hand103,372109,700
110,185111,519
Creditors amounts falling due within one year5(4,306)(2,257)
Net current assets (liabilities)105,879109,262
Total assets less current liabilities110,169111,842
Net assets110,169111,842
Capital and reserves
Called up share capital100100
Profit and loss account110,069111,742
Shareholders' funds110,169111,842
The financial statements were approved and authorised for issue by the Director on 6 January 2025, and are signed on its behalf by:
OLDFIELD, Richard David
Director
Registered Company No. 05424447
GUESS 1 DESIGN LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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 policy
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.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 May 2318311,52911,712
Additions-2,7572,757
At 30 April 2418314,28614,469
Depreciation and impairment
At 01 May 231578,9759,132
Charge for year71,0401,047
At 30 April 2416410,01510,179
Net book value
At 30 April 24194,2714,290
At 30 April 23262,5542,580
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables2,2951,620
Prepayments and accrued income4,518199
Total6,8131,819
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2141
Taxation and social security3,0851,016
Other creditors1,2001,200
Total4,3062,257
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.