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REGISTERED NUMBER: 05175712 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

UNDERWILD DESIGN & DEVELOPMENT LTD

UNDERWILD DESIGN & DEVELOPMENT LTD (REGISTERED NUMBER: 05175712)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


UNDERWILD DESIGN & DEVELOPMENT LTD (REGISTERED NUMBER: 05175712)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 153,971 166,431
Investment property 5 1,058,457 529,750
1,212,428 696,181

CURRENT ASSETS
Stocks 716,677 435,384
Debtors 6 278,265 357,505
Cash at bank 157 523
995,099 793,412
CREDITORS
Amounts falling due within one year 7 1,419,876 742,311
NET CURRENT (LIABILITIES)/ASSETS (424,777 ) 51,101
TOTAL ASSETS LESS CURRENT
LIABILITIES

787,651

747,282

CREDITORS
Amounts falling due after more than one
year

8

(128,781

)

(160,778

)

PROVISIONS FOR LIABILITIES (28,951 ) (8,645 )
NET ASSETS 629,919 577,859

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 629,817 577,757
SHAREHOLDERS' FUNDS 629,919 577,859

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

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.

UNDERWILD DESIGN & DEVELOPMENT LTD (REGISTERED NUMBER: 05175712)

BALANCE SHEET - continued
31 JULY 2024


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 director and authorised for issue on 25 April 2025 and were signed by:





D G Potter - Director


UNDERWILD DESIGN & DEVELOPMENT LTD (REGISTERED NUMBER: 05175712)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Underwild Design & Development Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05175712

Registered office: The Old School
The Stennack
St Ives
Cornwall
TR26 1QU

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 10% on reducing balance and Straight line over 3 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


UNDERWILD DESIGN & DEVELOPMENT LTD (REGISTERED NUMBER: 05175712)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued
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.

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 3 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 350,508
Additions 24,179
At 31 July 2024 374,687
DEPRECIATION
At 1 August 2023 184,077
Charge for year 36,639
At 31 July 2024 220,716
NET BOOK VALUE
At 31 July 2024 153,971
At 31 July 2023 166,431

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 529,750
Additions 528,707
At 31 July 2024 1,058,457
NET BOOK VALUE
At 31 July 2024 1,058,457
At 31 July 2023 529,750

UNDERWILD DESIGN & DEVELOPMENT LTD (REGISTERED NUMBER: 05175712)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 45,505 108,517
Other debtors 232,760 248,988
278,265 357,505

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 62,061 31,537
Hire purchase contracts 32,168 31,846
Trade creditors 133,039 122,480
Taxation and social security 42,671 54,787
Other creditors 1,149,937 501,661
1,419,876 742,311

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,229 19,312
Hire purchase contracts 20,552 41,466
Other creditors 100,000 100,000
128,781 160,778

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D G Potter.