REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MAY 2024 |
FOR |
DAVID RANDERSON DESIGN ASSOCIATES |
LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MAY 2024 |
FOR |
DAVID RANDERSON DESIGN ASSOCIATES |
LIMITED |
DAVID RANDERSON DESIGN ASSOCIATES |
LIMITED (REGISTERED NUMBER: 02454735) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31ST MAY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
DAVID RANDERSON DESIGN ASSOCIATES |
LIMITED |
COMPANY INFORMATION |
for the Year Ended 31ST MAY 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
327 Clifton Drive South |
Lytham St Annes |
Lancashire |
FY8 1HN |
BANKERS: |
26 St Annes Road West |
Lytham St Annes |
Lancashire |
FY8 1RN |
DAVID RANDERSON DESIGN ASSOCIATES |
LIMITED (REGISTERED NUMBER: 02454735) |
BALANCE SHEET |
31ST MAY 2024 |
31/5/24 | 31/5/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | 11 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their 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. |
DAVID RANDERSON DESIGN ASSOCIATES |
LIMITED (REGISTERED NUMBER: 02454735) |
BALANCE SHEET - continued |
31ST MAY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
DAVID RANDERSON DESIGN ASSOCIATES |
LIMITED (REGISTERED NUMBER: 02454735) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31ST MAY 2024 |
1. | STATUTORY INFORMATION |
David Randerson Design Associates Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
The turnover shown in the profit and loss account represents the value of all goods sold and services provided during the year, less returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product and service have been transfered to the customer. |
Tangible fixed assets |
Leasehold alterations | - |
Office equipment | - |
Computer equipment | - |
Tangible fixed assets are stated at cost less accumulated depreciation. |
Stocks |
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 items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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 or deferred taxation assets and liabilities are not discounted. |
Current tax is 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
DAVID RANDERSON DESIGN ASSOCIATES |
LIMITED (REGISTERED NUMBER: 02454735) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31ST MAY 2024 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Going concern |
The financial statements have been prepared on a going concern basis. At the balance sheet date, liabilities exceeded assets by £10,655 after the inclusion directors' loans amounting to £13,345. In the directors' opinion the company will continue in existence for the forseable future with the directors' continued support. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Leasehold | Office | Computer |
alterations | equipment | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st June 2023 |
Disposals | ( |
) | ( |
) |
At 31st May 2024 |
DEPRECIATION |
At 1st June 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31st May 2024 |
NET BOOK VALUE |
At 31st May 2024 |
At 31st May 2023 |
DAVID RANDERSON DESIGN ASSOCIATES |
LIMITED (REGISTERED NUMBER: 02454735) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31ST MAY 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
Office |
equipment |
£ |
COST |
At 1st June 2023 |
Disposals | ( |
) |
At 31st May 2024 |
DEPRECIATION |
At 1st June 2023 |
Eliminated on disposal | ( |
) |
At 31st May 2024 |
NET BOOK VALUE |
At 31st May 2024 |
At 31st May 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/5/24 | 31/5/23 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/5/24 | 31/5/23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' loan accounts | 13,348 | 20,683 |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/5/24 | 31/5/23 |
£ | £ |
Bank loans |
DAVID RANDERSON DESIGN ASSOCIATES |
LIMITED (REGISTERED NUMBER: 02454735) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31ST MAY 2024 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31/5/24 | 31/5/23 |
£ | £ |
Within one year |
Between one and five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31/5/24 | 31/5/23 |
£ | £ |
Bank loans |
Borrowing is secured by way of a fixed and floating charge over the undertaking and all property and assets present and future including goodwill bookdebts uncalled capital buildings fixtures fixed plant and machinery. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/5/24 | 31/5/23 |
value: | £ | £ |
Ordinary | £10 | 20 | 20 |
11. | RESERVES |
Retained |
earnings |
£ |
At 1st June 2023 | ( |
) |
Profit for the year |
At 31st May 2024 | ( |
) |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31st May 2024 and 31st May 2023: |
31/5/24 | 31/5/23 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
DAVID RANDERSON DESIGN ASSOCIATES |
LIMITED (REGISTERED NUMBER: 02454735) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31ST MAY 2024 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
13. | CONTROLLING PARTY |
In the opinion of the directors the company is controlled by the director shareholders who own 100% of the issued share capital. |