REGISTERED NUMBER: |
Do Something Different Ltd |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
REGISTERED NUMBER: |
Do Something Different Ltd |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
Do Something Different Ltd (Registered number: 07334205) |
Contents of the Financial Statements |
for the Year Ended 31 August 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Do Something Different Ltd |
Company Information |
for the Year Ended 31 August 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Do Something Different Ltd (Registered number: 07334205) |
Balance Sheet |
31 August 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
Do Something Different Ltd (Registered number: 07334205) |
Balance Sheet - continued |
31 August 2024 |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
Do Something Different Ltd (Registered number: 07334205) |
Notes to the Financial Statements |
for the Year Ended 31 August 2024 |
1. | STATUTORY INFORMATION |
The company is a private company limited by share capital, incorporated in England & Wales. |
The address of its registered office is: |
Station House |
Station Road |
Whalley |
Lancashire |
BB7 9RT |
United Kingdom |
The principal place of business is: |
31 Montefiore Road |
Hove |
Sussex |
BN3 1RD |
2. | ACCOUNTING POLICIES |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES |
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. |
STATEMENT OF COMPLIANCE |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime). |
BASIS OF PREPARATION |
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. |
GOING CONCERN |
The directors have agreed to contine to support the Company for a minimum period of 12 months from the date of the accounts signing. They have agreed to only take repayment of the monies owed to them as and when the Company can afford to do so having regard to all other amounts owed by the Company |
REVENUE RECOGNITION |
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. |
The company recognises revenue when: |
The amount of revenue can be reliably measured; |
it is probable that future economic benefits will flow to the entity; |
and specific criteria have been met for each of the company's activities. |
CASH AND CASH EQUIVALENTS |
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. |
Do Something Different Ltd (Registered number: 07334205) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
2. | ACCOUNTING POLICIES - continued |
TANGIBLE FIXED ASSETS |
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. |
DEPRECIATION |
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: |
Asset class | Depreciation method and rate |
Fixtures and fittings | 25% reducing balance |
AMORTISATION |
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: |
Asset class | Amortisation method and rate |
Website and development costs | 33% straight line |
TRADE DEBTORS |
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. |
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. |
TRADE CREDITORS |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. |
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. |
BORROWINGS |
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. |
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. |
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. |
Do Something Different Ltd (Registered number: 07334205) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
2. | ACCOUNTING POLICIES - continued |
SHARE CAPITAL |
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Website |
and |
developme |
costs |
£ |
COST |
At 1 September 2023 |
and 31 August 2024 |
AMORTISATION |
At 1 September 2023 |
and 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
5. | TANGIBLE FIXED ASSETS |
Furniture, |
fittings |
and |
equipment |
£ |
COST |
At 1 September 2023 |
and 31 August 2024 |
DEPRECIATION |
At 1 September 2023 |
Charge for year |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
Do Something Different Ltd (Registered number: 07334205) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Unpaid share capital |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Loans and borrowings (see note 9) |
Trade creditors |
VAT | 3,831 | 3,894 |
Directors' current accounts | 3,691 | 23,399 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Loans and borrowings (see note 9) |
9. | LOANS AND BORROWINGS |
An analysis of the maturity of loans and borrowings is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank borrowings |
Amounts falling due between two and five years: |
Bank borrowings |