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Registration number: 10339116

Design & Development Engineering Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Design & Development Engineering Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Financial Statements

9 to 16

iXBRL Detailed Profit and Loss Account

17

 

Design & Development Engineering Limited

Company Information

Director

Mr B Bush

Registered office

The Drying Room Hurst Barns
Hurst Lane
Privett
Hampshire
GU34 3PL

Accountants

Gold Accountants Limited 24 Southfield
Polegate
East Sussex
BN26 5LX

 

Design & Development Engineering Limited

Director's Report for the Year Ended 31 August 2024

The director presents his report and the financial statements for the year ended 31 August 2024.

Director of the company

The director who held office during the year was as follows:

Mr B Bush

Principal activity

The principal activity of the company is specialist design services

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 16 December 2024
 

.........................................
Mr B Bush
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Design & Development Engineering Limited
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Design & Development Engineering Limited for the year ended 31 August 2024 as set out on pages 4 to 16 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Design & Development Engineering Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Design & Development Engineering Limited and state those matters that we have agreed to state to the Board of Directors of Design & Development Engineering Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Design & Development Engineering Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Design & Development Engineering Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Design & Development Engineering Limited. You consider that Design & Development Engineering 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 accounts of Design & Development Engineering 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 accounts.

......................................

Gold Accountants Limited
24 Southfield
Polegate
East Sussex
BN26 5LX

16 December 2024

 

Design & Development Engineering Limited

Profit and Loss Account for the Year Ended 31 August 2024

Note

2024
£

2023
£

Turnover

 

407,488

490,459

Cost of sales

 

(239,053)

(328,543)

Gross profit

 

168,435

161,916

Administrative expenses

 

(130,391)

(82,878)

Operating profit

 

38,044

79,038

Other interest receivable and similar income

 

29

6

Profit before tax

4

38,073

79,044

Tax on profit

 

15,439

(5,203)

Profit for the financial year

 

53,512

73,841

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Design & Development Engineering Limited

Statement of Comprehensive Income for the Year Ended 31 August 2024

2024
£

2023
£

Profit for the year

53,512

73,841

Total comprehensive income for the year

53,512

73,841

 

Design & Development Engineering Limited

(Registration number: 10339116)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

109,139

88,650

Tangible assets

6

22,029

11,057

 

131,168

99,707

Current assets

 

Stocks

7

47,773

38,471

Debtors

8

19,907

11,558

Cash at bank and in hand

 

9,915

49,428

 

77,595

99,457

Creditors: Amounts falling due within one year

9

(18,084)

(23,596)

Net current assets

 

59,511

75,861

Total assets less current liabilities

 

190,679

175,568

Creditors: Amounts falling due after more than one year

9

(2,762)

(2,017)

Provisions for liabilities

-

(5,896)

Net assets

 

187,917

167,655

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

187,817

167,555

Shareholders' funds

 

187,917

167,655

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 16 December 2024
 

 

Design & Development Engineering Limited

(Registration number: 10339116)
Balance Sheet as at 31 August 2024

.........................................
Mr B Bush
Director

 

Design & Development Engineering Limited

Statement of Changes in Equity for the Year Ended 31 August 2024

Share capital
£

Retained earnings
£

Total
£

At 1 September 2023

100

167,555

167,655

Profit for the year

-

53,512

53,512

Dividends

-

(33,250)

(33,250)

At 31 August 2024

100

187,817

187,917

Share capital
£

Retained earnings
£

Total
£

At 1 September 2022

100

130,714

130,814

Profit for the year

-

73,841

73,841

Dividends

-

(37,000)

(37,000)

At 31 August 2023

100

167,555

167,655

 

Design & Development Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Drying Room Hurst Barns
Hurst Lane
Privett
Hampshire
GU34 3PL

These financial statements were authorised for issue by the director on 16 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Design & Development Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% reducing balance

Office equipment

25% straight line

Motor Vehicles

25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development costs

Revalued every 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Design & Development Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

7,450

3,434

 

Design & Development Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 September 2023

88,650

88,650

Additions acquired separately

20,489

20,489

At 31 August 2024

109,139

109,139

Amortisation

Carrying amount

At 31 August 2024

109,139

109,139

At 31 August 2023

88,650

88,650

6

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

20,830

2,675

-

23,505

Additions

916

1,664

15,843

18,423

At 31 August 2024

21,746

4,339

15,843

41,928

Depreciation

At 1 September 2023

10,690

1,758

-

12,448

Charge for the year

2,764

726

3,961

7,451

At 31 August 2024

13,454

2,484

3,961

19,899

Carrying amount

At 31 August 2024

8,292

1,855

11,882

22,029

At 31 August 2023

10,140

917

-

11,057

7

Stocks

2024
£

2023
£

Finished goods and goods for resale

47,773

38,471

 

Design & Development Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Debtors

Current

2024
£

2023
£

Trade debtors

19,653

11,558

Other debtors

254

-

 

19,907

11,558

 

Design & Development Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

8,576

-

Taxation and social security

 

9,508

23,490

Other creditors

 

-

106

 

18,084

23,596

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

2,762

2,017

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

51

51

51

51

Ordinary B of £1 each

49

49

49

49

100

100

100

100

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

2,762

2,017

Current loans and borrowings

2024
£

2023
£

Other borrowings

8,576

-

12

Dividends

Interim dividends paid

 

Design & Development Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

2024
£

2023
£

Interim dividend of £332.50 (2023 - £370.00) per each Ordinary A

16,958

18,870

Interim dividend of £332.50 (2023 - £370.00) per each Ordinary B

16,293

18,130

33,250

37,000

13

Related party transactions

 

Design & Development Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,570

 

Design & Development Engineering Limited

iXBRL Detailed Profit and Loss Account for the Year Ended 31 August 2024

2024
£

2023
£

Turnover/revenue

407,488

490,459

Cost of sales

Opening finished goods

(38,471)

(45,964)

Purchase of raw materials and consumables

(248,355)

(321,050)

Closing finished goods

47,773

38,471

Gross profit

168,435

161,916

Distribution costs

Administrative expenses

Audit and accountancy other services

(1,300)

(998)

Advertising, promotions and marketing costs

(1,872)

(319)

Rent, rates and services costs

(12,000)

(7,267)

Utilities costs

(2,079)

(666)

Other repairs and maintenance costs

(38,822)

-

Depreciation of fixed assets

(7,450)

(3,434)

Wages and salaries excluding directors

(5,216)

(4,482)

Salaries and fees, directors

(12,570)

(12,570)

Travel and subsistence

(11,741)

(11,180)

Legal and professional costs

(1,600)

(2,981)

Bank charges

(3,894)

(976)

IT and computing

(957)

(942)

Telecommunications

(2,127)

(1,914)

Printing, postage and stationery

(21,264)

(25,332)

Other costs

(7,499)

(9,817)

Other operating income

Other items

Profit on ordinary activities before finance charges and interest

38,044

79,038

Bank interest and similar income receivable

29

6

Profit on ordinary activities before taxation

38,073

79,044

Tax on profit or loss on ordinary activities

15,439

(5,203)

Profit for the financial year

53,512

73,841