REGISTERED NUMBER: |
Report of the Director and |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
DESIGNWERK UK LTD |
REGISTERED NUMBER: |
Report of the Director and |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
DESIGNWERK UK LTD |
DESIGNWERK UK LTD (REGISTERED NUMBER: 06665233) |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Statement of Comprehensive Income | 3 |
Balance Sheet | 4 |
Statement of Changes in Equity | 6 |
Notes to the Financial Statements | 7 |
DESIGNWERK UK LTD |
Company Information |
for the Year Ended 31 July 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
19 North Street |
Ashford |
Kent |
TN24 8LF |
DESIGNWERK UK LTD (REGISTERED NUMBER: 06665233) |
Report of the Director |
for the Year Ended 31 July 2024 |
The director presents his report with the financial statements of the company for the year ended 31 July 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of creative design. |
REVIEW OF BUSINESS |
The directors are pleased to report that they have diversified the client base to include non-sports related new clients in blue-chip companies. |
DIRECTOR |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
DESIGNWERK UK LTD (REGISTERED NUMBER: 06665233) |
Statement of Comprehensive Income |
for the Year Ended 31 July 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
231,996 | 116,575 |
Interest payable and similar expenses |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL YEAR |
OTHER COMPREHENSIVE INCOME |
Cancellation of B Class Shares |
Income tax relating to other comprehensive income |
OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
DESIGNWERK UK LTD (REGISTERED NUMBER: 06665233) |
Balance Sheet |
31 July 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 6 |
Tangible assets | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium | 11 |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
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. |
DESIGNWERK UK LTD (REGISTERED NUMBER: 06665233) |
Balance Sheet - continued |
31 July 2024 |
The financial statements were approved by the director and authorised for issue on |
DESIGNWERK UK LTD (REGISTERED NUMBER: 06665233) |
Statement of Changes in Equity |
for the Year Ended 31 July 2024 |
Called up |
share | Retained | Share | Total |
capital | earnings | premium | equity |
£ | £ | £ | £ |
Balance at 1 August 2022 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - | - |
Balance at 31 July 2023 |
Changes in equity |
Issue of share capital | ( |
) | - | ( |
) | ( |
) |
Total comprehensive income | - | - |
Balance at 31 July 2024 |
DESIGNWERK UK LTD (REGISTERED NUMBER: 06665233) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Designwerk UK Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
DESIGNWERK UK LTD (REGISTERED NUMBER: 06665233) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 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. | OPERATING PROFIT |
The operating profit is stated after charging: |
31.7.24 | 31.7.23 |
£ | £ |
Depreciation - owned assets |
5. | DIVIDENDS |
31.7.24 | 31.7.23 |
£ | £ |
Ordinary shares of £1.00 each |
Interim |
6. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 August 2023 |
and 31 July 2024 |
AMORTISATION |
At 1 August 2023 |
and 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
DESIGNWERK UK LTD (REGISTERED NUMBER: 06665233) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
7. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2023 |
Additions |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
Amounts owed by participating interests | 39,700 | 39,700 |
Other debtors |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
Pension Fund Payable | (1,579 | ) | 1,961 |
VAT | 23,496 | 75,931 |
Other creditors |
Directors' current accounts | 15,731 | 1,448 |
Accrued expenses |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Other loans - 1-2 years |
DESIGNWERK UK LTD (REGISTERED NUMBER: 06665233) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
11. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 August 2023 | 218,677 |
Profit for the year |
Purchase of own shares | 147 | - | 147 |
Cash share issue | - | (133,800 | ) | (133,800 | ) |
At 31 July 2024 | 250,883 |
During the year the company cancelled 147 B Class shares issued to staff that have now left and under the terms of the shares they are cancelled on leaving employment. |
The company has also repaid share premium to the ordinary shareholder, after filing a solvency statement. |