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REGISTERED NUMBER: 08643335 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

DSIGNS DEVON LIMITED

DSIGNS DEVON LIMITED (REGISTERED NUMBER: 08643335)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DSIGNS DEVON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr R Such
Mr S Davies



REGISTERED OFFICE: 1 Battle Road
Heathfield Industrial Estate
Newton Abbot
Devon
TQ12 6RY



REGISTERED NUMBER: 08643335 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: HSBC Bank Plc
7 Palace Avenue
Paignton
Devon
TQ3 3ED

DSIGNS DEVON LIMITED (REGISTERED NUMBER: 08643335)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 3,167
Tangible assets 5 70,270 76,305
70,270 79,472

CURRENT ASSETS
Stocks 6 9,000 8,000
Debtors 7 114,692 72,825
Cash at bank and in hand 75,829 39,097
199,521 119,922
CREDITORS
Amounts falling due within one year 8 124,691 80,703
NET CURRENT ASSETS 74,830 39,219
TOTAL ASSETS LESS CURRENT LIABILITIES 145,100 118,691

CREDITORS
Amounts falling due after more than one
year

9

(9,849

)

(20,229

)

PROVISIONS FOR LIABILITIES (5,115 ) (4,762 )
NET ASSETS 130,136 93,700

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 129,936 93,500
SHAREHOLDERS' FUNDS 130,136 93,700

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

DSIGNS DEVON LIMITED (REGISTERED NUMBER: 08643335)

BALANCE SHEET - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2024 and were signed on its behalf by:




Mr R Such - Director



Mr S Davies - Director


DSIGNS DEVON LIMITED (REGISTERED NUMBER: 08643335)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Dsigns Devon Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over the life of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

DSIGNS DEVON LIMITED (REGISTERED NUMBER: 08643335)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 80,000
AMORTISATION
At 1 July 2023 76,833
Amortisation for year 3,167
At 30 June 2024 80,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 3,167

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 51,243 42,398 18,198 2,585 114,424
Additions 6,678 - - 2,665 9,343
Disposals - (1,426 ) (14,426 ) - (15,852 )
At 30 June 2024 57,921 40,972 3,772 5,250 107,915
DEPRECIATION
At 1 July 2023 - 22,587 14,263 1,269 38,119
Charge for year 8,109 3,906 383 1,313 13,711
Eliminated on disposal - (1,145 ) (13,040 ) - (14,185 )
At 30 June 2024 8,109 25,348 1,606 2,582 37,645
NET BOOK VALUE
At 30 June 2024 49,812 15,624 2,166 2,668 70,270
At 30 June 2023 51,243 19,811 3,935 1,316 76,305

DSIGNS DEVON LIMITED (REGISTERED NUMBER: 08643335)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


6. STOCKS
2024 2023
£    £   
Stocks 9,000 8,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 98,787 62,020
Other debtors 547 -
Directors' current accounts 12,387 8,196
Prepayments 2,971 2,609
114,692 72,825

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,990 9,600
Trade creditors 23,383 22,367
Tax 46,168 26,731
VAT 21,715 16,005
Other creditors 21,411 -
Deferred income 500 6,000
Accrued expenses 1,524 -
124,691 80,703

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 9,849 20,229

10. OTHER FINANCIAL COMMITMENTS

At 30 June 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £89,286 (2023: £78,268).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Mr R Such
Balance outstanding at start of year 4,540 (553 )
Amounts advanced 51,932 59,993
Amounts repaid (49,335 ) (54,900 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,137 4,540

DSIGNS DEVON LIMITED (REGISTERED NUMBER: 08643335)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr S Davies
Balance outstanding at start of year 3,656 (699 )
Amounts advanced 51,327 59,344
Amounts repaid (49,733 ) (54,989 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,250 3,656

Loans are unsecured, interest free and repayable on demand.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £48,000 (2023 - £38,600) were paid to the directors .

13. GOVERNMENT GUARANTEED LOAN

The bank loan of £19,839 (2023: £29,829) is a COVID-19 bounce back loan, guaranteed by the government. Term runs until May 2026.