Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30falseSale of lubricants in the motor trade2023-05-01false33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09556290 2023-05-01 2024-04-30 09556290 2022-05-01 2023-04-30 09556290 2024-04-30 09556290 2023-04-30 09556290 c:Director2 2023-05-01 2024-04-30 09556290 d:PlantMachinery 2023-05-01 2024-04-30 09556290 d:PlantMachinery 2024-04-30 09556290 d:PlantMachinery 2023-04-30 09556290 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 09556290 d:OfficeEquipment 2023-05-01 2024-04-30 09556290 d:OfficeEquipment 2024-04-30 09556290 d:OfficeEquipment 2023-04-30 09556290 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 09556290 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 09556290 d:CurrentFinancialInstruments 2024-04-30 09556290 d:CurrentFinancialInstruments 2023-04-30 09556290 d:Non-currentFinancialInstruments 2024-04-30 09556290 d:Non-currentFinancialInstruments 2023-04-30 09556290 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 09556290 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 09556290 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 09556290 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 09556290 d:ShareCapital 2024-04-30 09556290 d:ShareCapital 2023-04-30 09556290 d:RetainedEarningsAccumulatedLosses 2024-04-30 09556290 d:RetainedEarningsAccumulatedLosses 2023-04-30 09556290 c:FRS102 2023-05-01 2024-04-30 09556290 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 09556290 c:FullAccounts 2023-05-01 2024-04-30 09556290 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09556290 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 09556290










FIFTEEN ELEVEN DESIGN LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
FIFTEEN ELEVEN DESIGN LTD
REGISTERED NUMBER: 09556290

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
357
446

Current assets
  

Stocks
  
9,525
11,025

Debtors: amounts falling due within one year
 5 
1,014
320

Creditors: amounts falling due within one year
 6 
(29,792)
(22,778)

Net current liabilities
  
 
 
(19,253)
 
 
(11,433)

Total assets less current liabilities
  
(18,896)
(10,987)

Creditors: amounts falling due after more than one year
 7 
(2,015)
(3,875)

  

Net liabilities
  
(20,911)
(14,862)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(21,011)
(14,962)

  
(20,911)
(14,862)


Page 1

 
FIFTEEN ELEVEN DESIGN LTD
REGISTERED NUMBER: 09556290
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 January 2025.





Christopher John Mellors
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
FIFTEEN ELEVEN DESIGN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Fifteen Eleven Design Ltd is a private Company limited by shares, incorporated in England and Wales (registered number: 09556290). Its registered office is Milford Garage, Milford, Bakewell, Derbyshire, United Kingdom, DE45 1DX. The principal activity of the Company throughout the year was that of the sale of lubricants and oils in the motor trade and the promotion of a vehicle rebuilding project.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the forseeable future.
The validity of this assumption depends on the support of the shareholders and the ability of the company to generate profits in the future. The directors believe this to be well founded, based on current and expected future levels of activity. The financial statements do not include any adjustments that woud result if the company did not receive sufficient financial support or if sufficient profits were not generated.

 
2.3

Revenue

Revenue 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. Revenue 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
FIFTEEN ELEVEN DESIGN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows. 

The depreciation rates used are:

Plant and machinery
-
20%
reducing balance
Office equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings. 

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans
and other accounts receivable and payable, are initially measured at present value of the future cash
flows and subsequently at amortised cost using the effective interest method. Debt instruments that
are payable or receivable within one year, typically trade debtors and creditors, are measured, initially
and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid
or received. However, if the arrangements of a short-term instrument constitute a financing
transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a
rate of interest that is not a market rate or in the case of an out-right short-term loan not at market
rate, the financial asset or liability is measured, initially, at the present value of the future cash flow
discounted at a market rate of interest for a similar debt instrument and subsequently at amortised
cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when
there is an enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.
Page 4

 
FIFTEEN ELEVEN DESIGN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)


Page 5

 
FIFTEEN ELEVEN DESIGN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in the Statement of Income and Related earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. 


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost


At 1 May 2023
781
444
1,225



At 30 April 2024

781
444
1,225



Depreciation


At 1 May 2023
577
202
779


Charge for the year on owned assets
41
48
89



At 30 April 2024

618
250
868



Net book value



At 30 April 2024
163
194
357



At 30 April 2023
204
242
446

Page 6

 
FIFTEEN ELEVEN DESIGN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Trade debtors
694
-

Other debtors
320
320

1,014
320



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
4,417
4,663

Other loans
1,860
1,860

Trade creditors
3,904
628

Other creditors
18,861
14,877

Accruals and deferred income
750
750

29,792
22,778



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
2,015
3,875


 
Page 7