Registered number
02816295
Form Design Europe Limited
Filleted Accounts
31 May 2024
Form Design Europe Limited
Registered number: 02816295
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 12,841 15,861
Current assets
Debtors 4 26,574 5,910
Cash at bank and in hand 69,914 71,137
96,488 77,047
Creditors: amounts falling due within one year 5 (23,667) (17,705)
Net current assets 72,821 59,342
Total assets less current liabilities 85,662 75,203
Creditors: amounts falling due after more than one year 6 - (4)
Provisions for liabilities (2,752) (3,013)
Net assets 82,910 72,186
Capital and reserves
Called up share capital 100 100
Profit and loss account 82,810 72,086
Shareholder's funds 82,910 72,186
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Stephen Muller
Director
Approved by the board on 19 February 2025
Form Design Europe Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 20% straight line
Computer Equipment 33.33% straight line
Motor vehicles 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Computer equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 66,395 1,195 22,449 90,039
Additions 489 379 - 868
At 31 May 2024 66,884 1,574 22,449 90,907
Depreciation
At 1 June 2023 65,857 239 8,082 74,178
Charge for the year 700 315 2,873 3,888
At 31 May 2024 66,557 554 10,955 78,066
Net book value
At 31 May 2024 327 1,020 11,494 12,841
At 31 May 2023 538 956 14,367 15,861
4 Debtors 2024 2023
£ £
Trade debtors 2,498 5,910
Director's loan account 23,476 -
Other debtors 600 -
26,574 5,910
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,208 221
Director's loan account - 1,939
Taxation and social security costs 21,459 15,545
23,667 17,705
6 Creditors: amounts falling due after one year 2024 2023
£ £
Non-equity preference shares - 4
7 Other information
Form Design Europe Limited is a private company limited by shares and incorporated in England. Its registered office is:
25 Rectory Road
London
E17 3BG
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