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Registration number: 04733576

Debbi Moore Designs Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Debbi Moore Designs Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Debbi Moore Designs Limited

Company Information

Directors

Mrs D Moore

Mr D Moore

Company secretary

Mrs D Moore

Registered office

Unit 1
Evans Business Centre Yarm Road Business Park
Lingfield Way
Darlington
DL1 4QZ

Accountants

Jacobs Allen Limited
Chartered Accountants & Chartered Tax Advisers59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

 

Debbi Moore Designs Limited

(Registration number: 04733576)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

11,835

13,151

Current assets

 

Stocks

3,590

2,000

Debtors

5

10,645

16,411

Cash at bank and in hand

 

1,952

666

 

16,187

19,077

Creditors: Amounts falling due within one year

6

(182,506)

(198,533)

Net current liabilities

 

(166,319)

(179,456)

Total assets less current liabilities

 

(154,484)

(166,305)

Creditors: Amounts falling due after more than one year

6

(83,283)

(104,176)

Net liabilities

 

(237,767)

(270,481)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(237,769)

(270,483)

Shareholders' deficit

 

(237,767)

(270,481)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 January 2025 and signed on its behalf by:
 

.........................................
Mrs D Moore
Company secretary and director

 

Debbi Moore Designs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Unit 1
Evans Business Centre Yarm Road Business Park
Lingfield Way
Darlington
DL1 4QZ
England

These financial statements were authorised for issue by the Board on 29 January 2025.

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

The company has net liabilities of £237,737 (2023 - £270,481), however it is trading profitably and sales are increasing, The company continues to meet its obligations for loan repayments and with the support of its directors expects to be able to continue to do so. The financial statements have therefore been prepared on a going concern basis.

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.

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.

 

Debbi Moore Designs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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 and equipment

10% reducing balance method

Motor vehicles

10% reducing balance method

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.

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.

 

Debbi Moore Designs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Tangible assets

Motor vehicles
 £

Plant and equipment
£

Total
£

Cost or valuation

At 1 May 2023 as restated

11,278

5,331

16,609

At 30 April 2024

11,278

5,331

16,609

Depreciation

At 1 May 2023 as restated

1,127

2,331

3,458

Charge for the year

1,015

301

1,316

At 30 April 2024

2,142

2,632

4,774

Carrying amount

At 30 April 2024

9,136

2,699

11,835

At 30 April 2023 as restated

10,151

3,000

13,151

 

Debbi Moore Designs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

9,905

15,672

Prepayments

740

739

 

10,645

16,411

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

160,115

176,412

Trade creditors

 

9,025

5,332

Taxation and social security

 

8,232

9,722

Accruals and deferred income

 

2,000

3,000

Other creditors

 

3,134

4,067

 

182,506

198,533

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £32,402 (2023 - £56,202). Loans of £29,326 (2023 - £52,255) are secured by fixed and floating charges against the company. HP loans of £3,076 (2023 - £3,947) are secured by charges on the assets concerned.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

83,283

104,176

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £67,082 (2023 - £77,975). Loans of £63,126 (2023 - £70,943) are secured by fixed and floating charges against the company, HP loans of £3,956 (2023 - £7,032) are secured by charges on the assets concerred.

 

Debbi Moore Designs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

79,327

97,144

Finance lease liabilities

3,956

7,032

83,283

104,176

Current loans and borrowings

2024
£

2023
£

Bank borrowings

39,326

62,255

Bank overdrafts

17,882

15,145

Hire purchase contracts

3,076

3,947

Other borrowings

99,831

95,065

160,115

176,412

9

Related party transactions

Other transactions with directors

The directors have provided an interest free loan to the company of £90,712 (2023 - £95,066) which is repayable on demand.