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REGISTERED NUMBER: 11716662 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Simply Design Group Limited

Simply Design Group Limited (Registered number: 11716662)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Simply Design Group Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P Stevens
C Stevens





REGISTERED OFFICE: Reedham House
31 King Street West
Manchester
Greater Manchester
M3 2PJ





REGISTERED NUMBER: 11716662 (England and Wales)





ACCOUNTANTS: Freedman Frankl & Taylor
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

Simply Design Group Limited (Registered number: 11716662)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 681,193 -
Tangible assets 5 27,177 31,871
708,370 31,871

CURRENT ASSETS
Stocks 389,967 676,515
Debtors 6 247,219 107,350
Cash at bank and in hand 476,081 430,536
1,113,267 1,214,401
CREDITORS
Amounts falling due within one year 7 3,907,690 2,553,930
NET CURRENT LIABILITIES (2,794,423 ) (1,339,529 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,086,053

)

(1,307,658

)

CREDITORS
Amounts falling due after more than one
year

8

(80,000

)

(80,000

)

PROVISIONS FOR LIABILITIES (7,504 ) (7,504 )
NET LIABILITIES (2,173,557 ) (1,395,162 )

CAPITAL AND RESERVES
Called up share capital 205 205
Retained earnings (2,173,762 ) (1,395,367 )
SHAREHOLDERS' FUNDS (2,173,557 ) (1,395,162 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Simply Design Group Limited (Registered number: 11716662)

Balance Sheet - continued
31 December 2023


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 24 March 2025 and were signed on its behalf by:





P Stevens - Director


Simply Design Group Limited (Registered number: 11716662)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Simply Design Group 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.

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.

Brand development is being amortised evenly over their estimated useful life of five years.
Website development is being amortised evenly over their estimated useful life of five years.
Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Tangible fixed assets are initially recorded at cost less any tax, discounts and rebates. Subsequently they are recorded at cost less accumulated depreciation and impairment.

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.

Simply Design Group Limited (Registered number: 11716662)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

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.

Going concern
The company's financial statements for the year ended 31 December 2023 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Grants
Grants received are credited to the profit and loss account as the related expenditure is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Brand Website Computer
development development software Totals
£    £    £    £   
COST
Additions 717,170 83,446 28,280 828,896
At 31 December 2023 717,170 83,446 28,280 828,896
AMORTISATION
Amortisation for year 143,434 1,441 2,828 147,703
At 31 December 2023 143,434 1,441 2,828 147,703
NET BOOK VALUE
At 31 December 2023 573,736 82,005 25,452 681,193

Simply Design Group Limited (Registered number: 11716662)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 54,287 2,756 57,043
Additions - 1,832 1,832
At 31 December 2023 54,287 4,588 58,875
DEPRECIATION
At 1 January 2023 23,905 1,267 25,172
Charge for year 6,076 450 6,526
At 31 December 2023 29,981 1,717 31,698
NET BOOK VALUE
At 31 December 2023 24,306 2,871 27,177
At 31 December 2022 30,382 1,489 31,871

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 139,659 -
Other debtors 107,560 107,350
247,219 107,350

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,267,486 1,662,229
Taxation and social security 158,120 81,150
Other creditors 1,482,084 810,551
3,907,690 2,553,930

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 80,000 80,000

9. RELATED PARTY DISCLOSURES

Included within other creditors is a directors' current balance of £327,738 (2022: £327,975). There are no fixed repayment terms and no interest is chargeable to the company in respect of this balance.