Choose Design Limited 05197613 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is marine and turbine engineers. Digita Accounts Production Advanced 6.30.9574.0 true 05197613 2023-09-01 2024-08-31 05197613 2024-08-31 05197613 bus:CompanySecretary1 1 2024-08-31 05197613 bus:Director1 1 2024-08-31 05197613 bus:OrdinaryShareClass1 bus:OtherShareType 2024-08-31 05197613 core:RetainedEarningsAccumulatedLosses 2024-08-31 05197613 core:RevaluationReserve 2024-08-31 05197613 core:ShareCapital 2024-08-31 05197613 core:CurrentFinancialInstruments 2024-08-31 05197613 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 05197613 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 05197613 core:FurnitureFittings 2024-08-31 05197613 core:LandBuildings core:OwnedOrFreeholdAssets 2024-08-31 05197613 core:MotorVehicles 2024-08-31 05197613 core:OfficeEquipment 2024-08-31 05197613 core:PlantMachinery 2024-08-31 05197613 bus:SmallEntities 2023-09-01 2024-08-31 05197613 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 05197613 bus:FilletedAccounts 2023-09-01 2024-08-31 05197613 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05197613 bus:RegisteredOffice 2023-09-01 2024-08-31 05197613 bus:CompanySecretary1 2023-09-01 2024-08-31 05197613 bus:CompanySecretary1 1 2023-09-01 2024-08-31 05197613 bus:Director1 2023-09-01 2024-08-31 05197613 bus:Director1 1 2023-09-01 2024-08-31 05197613 bus:OrdinaryShareClass1 bus:OtherShareType 2023-09-01 2024-08-31 05197613 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05197613 core:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 05197613 core:RevaluationReserve 2023-09-01 2024-08-31 05197613 core:RevaluationReserve core:LandBuildings 2023-09-01 2024-08-31 05197613 core:ShareCapital 2023-09-01 2024-08-31 05197613 core:ComputerEquipment 2023-09-01 2024-08-31 05197613 core:FurnitureFittings 2023-09-01 2024-08-31 05197613 core:LandBuildings 2023-09-01 2024-08-31 05197613 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 05197613 core:MotorVehicles 2023-09-01 2024-08-31 05197613 core:OfficeEquipment 2023-09-01 2024-08-31 05197613 core:PlantMachinery 2023-09-01 2024-08-31 05197613 countries:England 2023-09-01 2024-08-31 05197613 2023-08-31 05197613 bus:CompanySecretary1 1 2023-08-31 05197613 bus:Director1 1 2023-08-31 05197613 core:RetainedEarningsAccumulatedLosses 2023-08-31 05197613 core:RevaluationReserve 2023-08-31 05197613 core:ShareCapital 2023-08-31 05197613 core:FurnitureFittings 2023-08-31 05197613 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-31 05197613 core:MotorVehicles 2023-08-31 05197613 core:OfficeEquipment 2023-08-31 05197613 core:PlantMachinery 2023-08-31 05197613 2022-09-01 2023-08-31 05197613 2023-08-31 05197613 bus:OrdinaryShareClass1 bus:OtherShareType 2023-08-31 05197613 core:RetainedEarningsAccumulatedLosses 2023-08-31 05197613 core:RevaluationReserve 2023-08-31 05197613 core:ShareCapital 2023-08-31 05197613 core:CurrentFinancialInstruments 2023-08-31 05197613 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 05197613 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 05197613 core:FurnitureFittings 2023-08-31 05197613 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-31 05197613 core:MotorVehicles 2023-08-31 05197613 core:OfficeEquipment 2023-08-31 05197613 core:PlantMachinery 2023-08-31 05197613 core:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 05197613 core:RevaluationReserve 2022-09-01 2023-08-31 05197613 core:RevaluationReserve core:LandBuildings 2022-09-01 2023-08-31 05197613 core:ShareCapital 2022-09-01 2023-08-31 05197613 core:LandBuildings 2022-09-01 2023-08-31 05197613 2022-08-31 05197613 core:RetainedEarningsAccumulatedLosses 2022-08-31 05197613 core:RevaluationReserve 2022-08-31 05197613 core:ShareCapital 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05197613

Choose Design Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Choose Design Limited

Contents

Company Information

1

Statement of Comprehensive Income

2

Balance Sheet

3 to 4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 12

 

Choose Design Limited

Company Information

Director

Mr D J H Barr

Company secretary

Mrs J Bisseker-Barr

Registered office

Mountbatten House
Grosvenor Square
Southampton
Hampshire
SO15 2JU

Accountants

Numeric Accounting
Chartered Certified Accountants
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Choose Design Limited

Statement of Comprehensive Income for the Year Ended 31 August 2024

2024
£

2023
£

Profit for the year

117,365

32,352

Surplus/(deficit) on property, plant and equipment revaluation

42,154

(3,030)

Total comprehensive income for the year

159,519

29,322

 

Choose Design Limited

(Registration number: 05197613)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

102,627

78,992

Current assets

 

Stocks

5

6,000

6,000

Debtors

6

48,877

47,400

Investments

7

394,690

370,503

Cash at bank and in hand

 

57,303

57,302

 

506,870

481,205

Creditors: Amounts falling due within one year

8

(169,181)

(167,937)

Net current assets

 

337,689

313,268

Total assets less current liabilities

 

440,316

392,260

Creditors: Amounts falling due after more than one year

8

(4,000)

(4,000)

Provisions for liabilities

(13,377)

(8,687)

Net assets

 

422,939

379,573

Capital and reserves

 

Called up share capital

9

4

4

Revaluation reserve

62,657

20,503

Retained earnings

360,278

359,066

Shareholders' funds

 

422,939

379,573

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Choose Design Limited

(Registration number: 05197613)
Balance Sheet as at 31 August 2024 (continued)

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 March 2025
 

.........................................
Mr D J H Barr
Director

 

Choose Design Limited

Statement of Changes in Equity for the Year Ended 31 August 2024

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 September 2023

4

20,503

359,066

379,573

Profit for the year

-

-

117,365

117,365

Other comprehensive income

-

42,154

-

42,154

Total comprehensive income

-

42,154

117,365

159,519

Dividends

-

-

(73,999)

(73,999)

Transfers

-

-

(42,154)

(42,154)

At 31 August 2024

4

62,657

360,278

422,939

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 September 2022

4

23,533

406,685

430,222

Profit for the year

-

-

32,352

32,352

Other comprehensive income

-

(3,030)

-

(3,030)

Total comprehensive income

-

(3,030)

32,352

29,322

Dividends

-

-

(83,000)

(83,000)

Transfers

-

-

3,029

3,029

At 31 August 2023

4

20,503

359,066

379,573

 

Choose Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Mountbatten House
Grosvenor Square
Southampton
Hampshire
SO15 2JU

These financial statements were authorised for issue by the director on 23 March 2025.

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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Choose Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible 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

Land and Buildings

0% Reducing Balance

Plant and Machinery

10% Reducing Balance

Motor Vehicles

25% Reducing Balance

Fixtures and Fittings

10% Reducing Balance

Computer Equipment

25% Reducing Balance

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Choose Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.

Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Choose Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 September 2023

27,557

2,859

123,411

22,137

25,391

Additions

-

-

-

551

32,995

Disposals

-

-

-

-

(25,391)

At 31 August 2024

27,557

2,859

123,411

22,688

32,995

Depreciation

At 1 September 2023

-

1,628

80,957

16,929

22,849

Charge for the year

-

123

4,245

1,626

1,905

Eliminated on disposal

-

-

-

-

(23,379)

At 31 August 2024

-

1,751

85,202

18,555

1,375

Carrying amount

At 31 August 2024

27,557

1,108

38,209

4,133

31,620

At 31 August 2023

27,557

1,231

42,454

5,208

2,542

 

Choose Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

4

Tangible assets (continued)

Total
£

Cost or valuation

At 1 September 2023

201,355

Additions

33,546

Disposals

(25,391)

At 31 August 2024

209,510

Depreciation

At 1 September 2023

122,363

Charge for the year

7,899

Eliminated on disposal

(23,379)

At 31 August 2024

106,883

Carrying amount

At 31 August 2024

102,627

At 31 August 2023

78,992

Included within the net book value of land and buildings above is £27,557 (2023 - £27,557) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

6,000

6,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

31,080

33,188

Prepayments

13,476

12,542

Other debtors

4,321

1,670

 

48,877

47,400

 

Choose Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

7

Current asset investments

2024
£

2023
£

Other investments

394,690

370,503

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

5,604

13,886

Other creditors

163,577

154,051

169,181

167,937

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

4,000

4,000

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

4

4

4

4

       

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

 

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Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

10

Reserves (continued)

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

42,154

42,154

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(3,030)

(3,030)

11

Dividends

2024

2023

£

£

Interim dividend of £18,500.00 (2023 - £20,750.00) per ordinary share

73,999

83,000

 

 

12

Related party transactions

Transactions with the director

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

Mr D J H Barr

The loan is interest free with no fixed date of repayment.

(105,050)

4,885

(14,412)

(114,577)

Mrs J Bisseker-Barr

The loan is interest free with no fixed date of repayment.

(49,000)

-

-

(49,000)