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DESIGN SQUARED LTD

Registered Number
07343612
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

DESIGN SQUARED LTD
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

STOCKLEY, Nicholas Mark

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

07343612 (England and Wales)
DESIGN SQUARED LTD
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets47,27210,458
7,27210,458
Current assets
Debtors588,64061,666
Cash at bank and on hand132,875109,452
221,515171,118
Creditors amounts falling due within one year6(157,629)(138,358)
Net current assets (liabilities)63,88632,760
Total assets less current liabilities71,15843,218
Provisions for liabilities7(1,818)(2,101)
Net assets69,34041,117
Capital and reserves
Called up share capital200200
Profit and loss account69,14040,917
Shareholders' funds69,34041,117
The financial statements were approved and authorised for issue by the Director on 14 February 2025, and are signed on its behalf by:
STOCKLEY, Nicholas Mark
Director
Registered Company No. 07343612
DESIGN SQUARED LTD
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined benefit pension plan
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Reducing balance (%)Straight line (years)
Land and buildings-5
Fixtures and fittings25-
Office Equipment33-
Finance leases and hire purchase contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.Average number of employees

20242023
Average number of employees during the year79
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realized.
4.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 August 236,33713,80740,85260,996
Additions--1,1581,158
At 31 July 246,33713,80742,01062,154
Depreciation and impairment
At 01 August 235,06911,33434,13550,538
Charge for year1,2676192,4584,344
At 31 July 246,33611,95336,59354,882
Net book value
At 31 July 2411,8545,4177,272
At 31 July 231,2682,4736,71710,458
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables37,82411,931
Other debtors46,96546,964
Prepayments and accrued income3,8512,771
Total88,64061,666
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables25,89762,050
Taxation and social security121,45873,438
Other creditors8,4591,055
Accrued liabilities and deferred income1,8151,815
Total157,629138,358
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,8182,101
Total1,8182,101
8.Operating lease commitments
At 31.07.2024 (Company year end), the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £61,800 (2023 – £47,400)
9.Controlling party
The company is controlled by the director, N Stockley, by virtue of his ownership of 99% of the issued share capital.