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REGISTERED NUMBER: 05155976 (England and Wales)















MW DESIGNS LIMITED

Unaudited Financial Statements for the Year Ended 31 July 2024






MW DESIGNS LIMITED (REGISTERED NUMBER: 05155976)






Contents of the Financial Statements
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


MW DESIGNS LIMITED

Company Information
for the year ended 31 July 2024







Directors: M D Whitehead
M E Williams





Registered office: The Pillar
Civic Centre
Queen Elizabeth Drive
Pershore
Worcestershire
WR10 1PT





Registered number: 05155976 (England and Wales)

MW DESIGNS LIMITED (REGISTERED NUMBER: 05155976)

Balance Sheet
31 July 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 79,137 112,058
79,137 112,058

Current assets
Debtors 6 243,613 317,202
Cash at bank - 35,650
243,613 352,852
Creditors
Amounts falling due within one year 7 126,843 145,172
Net current assets 116,770 207,680
Total assets less current liabilities 195,907 319,738

Creditors
Amounts falling due after more than one year 8 (164,263 ) (188,927 )

Provisions for liabilities (19,785 ) (3,064 )
Net assets 11,859 127,747

Capital and reserves
Called up share capital 10 102 102
Retained earnings 11,757 127,645
Shareholders' funds 11,859 127,747

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

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

MW DESIGNS LIMITED (REGISTERED NUMBER: 05155976)

Balance Sheet - continued
31 July 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 23 December 2024 and were signed on its behalf by:




M D Whitehead - Director



M E Williams - Director


MW DESIGNS LIMITED (REGISTERED NUMBER: 05155976)

Notes to the Financial Statements
for the year ended 31 July 2024

1. Statutory information

MW Designs 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.

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.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, has been fully amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MW DESIGNS LIMITED (REGISTERED NUMBER: 05155976)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

2. Accounting policies - continued

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. Employees and directors

The average number of employees during the year was 8 (2023 - 8 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 August 2023
and 31 July 2024 31,000
Amortisation
At 1 August 2023
and 31 July 2024 31,000
Net book value
At 31 July 2024 -
At 31 July 2023 -

5. Tangible fixed assets
Fixtures
Improvements and Motor Computer
to property fittings vehicles equipment Totals
£ £ £ £ £
Cost
At 1 August 2023 36,946 16,654 97,560 85,238 236,398
Disposals (36,946 ) (15,717 ) - (79,026 ) (131,689 )
At 31 July 2024 - 937 97,560 6,212 104,709
Depreciation
At 1 August 2023 28,651 12,678 1,626 81,385 124,340
Charge for year - 97 19,187 2,009 21,293
Eliminated on disposal (28,651 ) (12,385 ) - (79,025 ) (120,061 )
At 31 July 2024 - 390 20,813 4,369 25,572
Net book value
At 31 July 2024 - 547 76,747 1,843 79,137
At 31 July 2023 8,295 3,976 95,934 3,853 112,058

MW DESIGNS LIMITED (REGISTERED NUMBER: 05155976)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 66,965 147,021
Amounts owed by group undertakings 113,346 35,346
Other debtors - 1,500
Amounts owed by connected
company - 133,335
Corporation tax 63,302 -
243,613 317,202

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 64,357 39,809
Hire purchase contracts 17,723 16,425
Corporation tax - 29,002
Social security and other taxes 4,661 6,157
VAT 28,497 47,936
Other creditors 2,700 -
Directors' current accounts 2,583 2,818
Accruals and deferred income 6,322 3,025
126,843 145,172

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans - 1-2 years 49,048 39,809
Bank loans - 2-5 years 55,116 71,296
Hire purchase contracts 60,099 77,822
164,263 188,927

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 77,822 94,247

Hire purchase liabilities are secured against the asset to which they relate.

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary A £1 100 100
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
102 102

MW DESIGNS LIMITED (REGISTERED NUMBER: 05155976)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

11. Related party disclosures

The company has taken advantage of exemption,under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the year end there was a balance owing to (2023: from) MW Designs Consultancy LLP, a connected company, to the company totalling £2,700 (2023: £133,335).

12. Ultimate parent company

The ultimate parent company is MW Design Consultancy Holdings Limited, a company registered in England and Wales.

Ultimate controlling party

The company is ultimately controlled by its directors.