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Logo On Report
Registered Number: 04025105
England and Wales

 

 

 


Unaudited Filleted Financial Statements

for the year ended 31 July 2024

for

DESIGNS FOR LIFE LTD.

Directors R N Williams
P Richards
Registered Number 04025105
Registered Office RUTLAND MOUNT
12 ELMORE ROAD SHEFFIELD
S10 1BY
Accountants Holdsworth Accountants Ltd
Omega Court
350 Cemetery Road
Sheffield
S11 8FT
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 July 2024
Principal activities
The companys principal activity during the year was that of development and sourcing of household and commercial products.
Directors
The directors who served the company throughout the year were as follows:
R N Williams
P Richards
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
R N Williams
Director

Date approved: 24 April 2025
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 July 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Holdsworth Accountants Ltd
31 July 2024



....................................................

Holdsworth Accountants Ltd

Omega Court
350 Cemetery Road
Sheffield
S11 8FT
24 April 2025
3
 
 
Notes
 
2024
£
  2023
£
Current assets      
Stocks 3   10,019 
Debtors 4 268,194    45,225 
Cash at bank and in hand 270,412    248,223 
538,606    303,467 
Creditors: amount falling due within one year 5 (236,997)   (78,157)
Net current assets 301,609    225,310 
 
Total assets less current liabilities 301,609    225,310 
Net assets 301,609    225,310 
 

Capital and reserves
     
Called up share capital 6 3    3 
Profit and loss account 301,606    225,307 
Shareholders' funds 301,609    225,310 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 24 April 2025 and were signed on its behalf by:


-------------------------------
R N Williams
Director
4
General Information
DESIGNS FOR LIFE LTD. is a private company, limited by shares, registered in England and Wales, registration number 04025105, registration address RUTLAND MOUNT, 12 ELMORE ROAD SHEFFIELD, S10 1BY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Stocks

2024
£
  2023
£
Work in Progress   10,019 
  10,019 

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 254,194    31,225 
Prepayments & Accrued Income 500    500 
Other Debtors 13,500    13,500 
268,194    45,225 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 189,187    25,416 
Corporation Tax 24,832    11,342 
Accrued Expenses 880    880 
Other Creditors 300    300 
VAT 21,798    40,219 
236,997    78,157 

6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
3 Class A shares of £1.00 each  
 

5