REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
KARIN DUNBAR DESIGN LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
KARIN DUNBAR DESIGN LTD |
KARIN DUNBAR DESIGN LTD (REGISTERED NUMBER: 08861363) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KARIN DUNBAR DESIGN LTD |
COMPANY INFORMATION |
For The Year Ended 30 April 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
KARIN DUNBAR DESIGN LTD (REGISTERED NUMBER: 08861363) |
ABRIDGED BALANCE SHEET |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 6 |
Retained earnings | 6 | ( |
) |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
KARIN DUNBAR DESIGN LTD (REGISTERED NUMBER: 08861363) |
ABRIDGED BALANCE SHEET - continued |
30 April 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
KARIN DUNBAR DESIGN LTD (REGISTERED NUMBER: 08861363) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Karin Dunbar Design Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents both the sale of bespoke goods, excluding value added tax, sold during the year and revenue derived from the rental of a residential property, excluding value added tax, provided during the year. |
Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income. |
Tangible fixed assets |
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - | 2% on cost |
Plant and machinery | - | 10% on cost |
Fixtures and fittings | - | 20% on cost |
Computer equipment | - | 20% on cost |
Investments in associates |
Investments in associate undertakings are recognised at cost. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price, less costs to complete and sell. Cost includes all costs of purchase, including costs to bring stock to its present location and condition. Provision is made for damaged, obsolete and slow moving stock where appropriate. |
Financial instruments |
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost, except for investments in shares which are measured at fair value. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss. |
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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. |
Deferred tax represents the future tax consequences of material transactions and events recognised in the financial statements of current and previous periods. |
Current and deferred tax assets and liabilities are not discounted and are 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable are charged to the profit and loss in the period to which they relate. |
KARIN DUNBAR DESIGN LTD (REGISTERED NUMBER: 08861363) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 April 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Totals |
£ |
Freehold property revaluation in 2022 | (50,000 | ) |
Freehold property revaluation in 2018 | 338,393 |
Freehold property cost | 361,607 |
Other asset cost | 40,666 |
690,666 |
If the freehold property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 361,607 | 361,607 |
Aggregate depreciation | (61,212 | ) | (53,979 | ) |
The freehold property was valued on an open market basis on 30 April 2024 by the director. |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 | 50 |
NET BOOK VALUE |
At 30 April 2024 | 50 |
At 30 April 2023 | 50 |
KARIN DUNBAR DESIGN LTD (REGISTERED NUMBER: 08861363) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 April 2024 |
6. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 May 2023 | ( |
) | 241,056 |
Profit for the year |
Deferred tax | - | 1,096 | 1,096 |
Depreciation movement | 5,768 | (5,768 | ) | - |
At 30 April 2024 | 268,091 |
7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
As at 30 April 2024, the director had loaned the company £368,698 (2023 - £418,426) of which £998 (2023 - £726) is repayable upon demand and £367,700 (2023 - £417,700) is repayable in more than one year from the balance sheet date. During the year ended 30 April 2024, there was no interest (2023 - £Nil) charged on the loan. |
8. | RELATED PARTY DISCLOSURES |
As at 30 April 2024, Karin Dunbar Design Ltd entered into the following transactions with an associated company: |
As at 30 April 2024, the balance due from an associated company was £1,960 (2023 - £1,960) and this amount is shown in debtors. |