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Registered number: 06401438
Base Design Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
C&H Stedman
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06401438
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 14,370 22,442
14,370 22,442
CURRENT ASSETS
Stocks 69,167 122,615
Debtors 6 142,825 63,848
211,992 186,463
Creditors: Amounts Falling Due Within One Year 7 (136,961 ) (84,499 )
NET CURRENT ASSETS (LIABILITIES) 75,031 101,964
TOTAL ASSETS LESS CURRENT LIABILITIES 89,401 124,406
Creditors: Amounts Falling Due After More Than One Year 8 (17,641 ) (32,411 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (905 ) (933 )
NET ASSETS 70,855 91,062
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 70,755 90,962
SHAREHOLDERS' FUNDS 70,855 91,062
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Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J Tapp
Director
4 February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Base Design Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06401438 . The registered office is Bigods Hall, Bigods Lane, Dunmow, Essex, CM6 3BE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of ten years.
2.4. Research and Development
Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured.  Any expenditure carried forward is amortised in line with the expected future sales from the related project.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 33% straight line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
The average number of employees during the year was 4 (2023: 4)
4 4
4. Intangible Assets
Goodwill Development Costs Total
£ £ £
Cost
As at 1 June 2023 5,768 33,362 39,130
As at 31 May 2024 5,768 33,362 39,130
Amortisation
As at 1 June 2023 5,768 33,362 39,130
As at 31 May 2024 5,768 33,362 39,130
Net Book Value
As at 31 May 2024 - - -
As at 1 June 2023 - - -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 850 50,968 1,943 1,428 55,189
Disposals - - - (714 ) (714 )
As at 31 May 2024 850 50,968 1,943 714 54,475
...CONTINUED
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Depreciation
As at 1 June 2023 850 28,526 1,943 1,428 32,747
Provided during the period - 8,072 - - 8,072
Disposals - - - (714 ) (714 )
As at 31 May 2024 850 36,598 1,943 714 40,105
Net Book Value
As at 31 May 2024 - 14,370 - - 14,370
As at 1 June 2023 - 22,442 - - 22,442
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 54,275 48,937
Other debtors 88,550 14,911
142,825 63,848
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,769 6,769
Trade creditors 108,778 55,498
Bank loans and overdrafts 19,297 20,382
Other creditors 2,117 1,850
136,961 84,499
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,641 12,411
Bank loans 12,000 20,000
17,641 32,411
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,769 6,769
Later than one year and not later than five years 5,641 12,411
12,410 19,180
12,410 19,180
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