Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falsedesign consultants3122truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05070606 2023-01-01 2023-12-31 05070606 2022-01-01 2022-12-31 05070606 2023-12-31 05070606 2022-12-31 05070606 2022-01-01 05070606 1 2023-01-01 2023-12-31 05070606 d:Director1 2023-01-01 2023-12-31 05070606 e:Buildings e:ShortLeaseholdAssets 2023-01-01 2023-12-31 05070606 e:Buildings e:ShortLeaseholdAssets 2023-12-31 05070606 e:Buildings e:ShortLeaseholdAssets 2022-12-31 05070606 e:LandBuildings 2023-12-31 05070606 e:LandBuildings 2022-12-31 05070606 e:FurnitureFittings 2023-01-01 2023-12-31 05070606 e:FurnitureFittings 2023-12-31 05070606 e:FurnitureFittings 2022-12-31 05070606 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05070606 e:OfficeEquipment 2023-01-01 2023-12-31 05070606 e:OfficeEquipment 2023-12-31 05070606 e:OfficeEquipment 2022-12-31 05070606 e:OfficeEquipment e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05070606 e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05070606 e:ComputerSoftware 2023-12-31 05070606 e:ComputerSoftware 2022-12-31 05070606 e:CurrentFinancialInstruments 2023-12-31 05070606 e:CurrentFinancialInstruments 2022-12-31 05070606 e:Non-currentFinancialInstruments 2023-12-31 05070606 e:Non-currentFinancialInstruments 2022-12-31 05070606 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 05070606 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 05070606 e:ShareCapital 2023-12-31 05070606 e:ShareCapital 2022-12-31 05070606 e:ShareCapital 2022-01-01 05070606 e:SharePremium 2023-12-31 05070606 e:SharePremium 1 2023-01-01 2023-12-31 05070606 e:SharePremium 2022-12-31 05070606 e:SharePremium 2022-01-01 05070606 e:CapitalRedemptionReserve 2023-12-31 05070606 e:CapitalRedemptionReserve 1 2023-01-01 2023-12-31 05070606 e:CapitalRedemptionReserve 2022-12-31 05070606 e:CapitalRedemptionReserve 2022-01-01 05070606 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 05070606 e:RetainedEarningsAccumulatedLosses 2023-12-31 05070606 e:RetainedEarningsAccumulatedLosses 1 2023-01-01 2023-12-31 05070606 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 05070606 e:RetainedEarningsAccumulatedLosses 2022-12-31 05070606 e:RetainedEarningsAccumulatedLosses 2022-01-01 05070606 d:OrdinaryShareClass1 2023-01-01 2023-12-31 05070606 d:OrdinaryShareClass1 2022-12-31 05070606 d:OrdinaryShareClass2 2023-01-01 2023-12-31 05070606 d:OrdinaryShareClass2 2022-12-31 05070606 d:OrdinaryShareClass3 2023-01-01 2023-12-31 05070606 d:OrdinaryShareClass3 2022-12-31 05070606 d:OrdinaryShareClass4 2023-01-01 2023-12-31 05070606 d:OrdinaryShareClass4 2023-12-31 05070606 d:OrdinaryShareClass5 2023-01-01 2023-12-31 05070606 d:OrdinaryShareClass5 2023-12-31 05070606 d:FRS102 2023-01-01 2023-12-31 05070606 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05070606 d:FullAccounts 2023-01-01 2023-12-31 05070606 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05070606 e:WithinOneYear 2023-12-31 05070606 e:WithinOneYear 2022-12-31 05070606 e:BetweenOneFiveYears 2023-12-31 05070606 e:BetweenOneFiveYears 2022-12-31 05070606 2 2023-01-01 2023-12-31 05070606 6 2023-01-01 2023-12-31 05070606 f:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05070606










HOUSEHOLD DESIGN LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HOUSEHOLD DESIGN LIMITED
REGISTERED NUMBER:05070606

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
100,667
91,847

Fixed asset investments
 6 
1,000
1,000

  
101,667
92,847

Current assets
  

Debtors due after more than 1 year
 7 
-
39,724

Debtors: amounts falling due within one year
 7 
1,637,091
896,946

Cash at bank and in hand
 8 
646,758
959,428

  
2,283,849
1,896,098

Creditors: amounts falling due within one year
 9 
(498,640)
(189,278)

Net current assets
  
 
 
1,785,209
 
 
1,706,820

Total assets less current liabilities
  
1,886,876
1,799,667

  

Net assets
  
1,886,876
1,799,667


Capital and reserves
  

Called up share capital 
 10 
838
839

Share premium account
  
6,950
6,950

Capital redemption reserve
  
217
217

Profit and loss account
  
1,878,871
1,791,661

  
1,886,876
1,799,667


Page 1

 
HOUSEHOLD DESIGN LIMITED
REGISTERED NUMBER:05070606
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 comprehensive income 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 by: 




A Revell
Director

Date: 30 January 2025

The notes on pages 4 to 13 form part of these financial statements.

Page 2

 
HOUSEHOLD DESIGN LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 January 2022
839
6,950
217
1,951,561
1,959,567


Comprehensive income for the year

Loss for the year
-
-
-
(159,900)
(159,900)



At 1 January 2023
839
6,950
217
1,791,661
1,799,667


Comprehensive income for the year

Profit for the year
-
-
-
87,210
87,210

Consolidation and subdivision of share capital
(1)
-
-
-
(1)


At 31 December 2023
838
6,950
217
1,878,871
1,886,876


The notes on pages 4 to 13 form part of these financial statements.



Page 3

 
HOUSEHOLD DESIGN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Household Design Limited is a private company limited by shares, registered in England and Wales within the UK. The company's principal place of business is 135 Curtain Road, London, EC2A 3BX. The principal activity continued to be that of design consultants.

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 following principal accounting policies have been applied:

 
2.2

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:

Rendering of services

Revenue 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 revenue 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.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
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.

Page 4

 
HOUSEHOLD DESIGN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
10%
straight line
Fixtures and fittings
-
25%
straight line
Office equipment
-
33%
straight line

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 profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
HOUSEHOLD DESIGN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due within the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

 

Page 6

 
HOUSEHOLD DESIGN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
 
Page 7

 
HOUSEHOLD DESIGN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP rounded to the nearest £1.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.11

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 8

 
HOUSEHOLD DESIGN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

Interest income

Interest income is recognised in profit or loss using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 31 (2022 - 22).


4.


Intangible assets




Computer software

£



Cost


At 1 January 2023
27,180



At 31 December 2023

27,180



Amortisation


At 1 January 2023
27,180



At 31 December 2023

27,180



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 9

 
HOUSEHOLD DESIGN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





S/Term Leasehold Property
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
170,434
118,224
446,476
735,134


Additions
-
-
45,279
45,279


Disposals
-
-
(1,091)
(1,091)



At 31 December 2023

170,434
118,224
490,664
779,322



Depreciation


At 1 January 2023
111,205
116,604
415,478
643,287


Charge for the year on owned assets
11,614
535
23,219
35,368



At 31 December 2023

122,819
117,139
438,697
678,655



Net book value



At 31 December 2023
47,615
1,085
51,967
100,667



At 31 December 2022
59,229
1,620
30,998
91,847




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Short leasehold
47,615
59,229

47,615
59,229


Page 10

 
HOUSEHOLD DESIGN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
1,000



At 31 December 2023
1,000





7.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
-
39,724


2023
2022
£
£

Due within one year

Trade debtors
836,510
257,919

Amounts owed by group undertakings
306,163
398,447

Other debtors
45,523
1,908

Prepayments and accrued income
448,895
238,672

1,637,091
896,946



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
646,758
959,428


Page 11

 
HOUSEHOLD DESIGN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
214,289
28,733

Other taxation and social security
209,846
77,139

Other creditors
41,654
29,646

Accruals and deferred income
32,851
53,760

498,640
189,278



10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



(2022 - 403) Ordinary shares of £1.000 each
-
403
(2022 - 359) Ordinary-A shares of £1.000 each
-
359
(2022 - 77,000) Growth shares of £0.001 each
-
77
65,890 (2022 - nil) Ordinary A shares of £0.010 each
659
-
17,930 (2022 - nil) Ordinary B shares of £0.010 each
179
-

838

839

On 27 February 2023, there was a share consolidation and subdivision. This resulted in the 403 Ordinary shares of £1 each, 359 Ordinary A shares of £1 each and 77,000 Growth shares of £0.001 each being converted into 65,890 Ordinary A Shares of £0.01 each and 17,930 Ordinary B shares of £0.01 each.  



11.


Share Options

The company has an EMI scheme in operation since June 2023. As at 31 December 2023 there were four employees participating in the scheme with a maximum of 64,431 share options granted. The options can only be exercised upon a relevant exit event. The share options will lapse if an employee leaves the company or on the 10th anniversary of the grant date. At 31 December 2023, there were 64,431 unexercised options as part of this EMI scheme.

Page 12

 
HOUSEHOLD DESIGN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
118,594
230,000

Later than 1 year and not later than 5 years
-
210,833

118,594
440,833


13.


Related party transactions

At the balance sheet date, a director, Ms J Oxberry was owed £324 by the company (2022: £324).
The above balance is interest free and repayable on demand.

 
Page 13