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COMPANY REGISTRATION NUMBER: 04702187
N & S Design Solutions Limited
Filleted Unaudited Financial Statements
31 March 2025
N & S Design Solutions Limited
Financial Statements
Year ended 31 March 2025
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
N & S Design Solutions Limited
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
61,873
83,757
Current assets
Debtors
6
37,323
34,973
Cash at bank and in hand
2,702
2,316
--------
--------
40,025
37,289
Creditors: amounts falling due within one year
7
46,118
51,682
--------
--------
Net current liabilities
6,093
14,393
--------
--------
Total assets less current liabilities
55,780
69,364
Creditors: amounts falling due after more than one year
8
7,120
14,887
--------
--------
Net assets
48,660
54,477
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
48,560
54,377
--------
--------
Shareholders funds
48,660
54,477
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
N & S Design Solutions Limited
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 2 May 2025 , and are signed on behalf of the board by:
N J Dynes
Director
Company registration number: 04702187
N & S Design Solutions Limited
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Bridleway Gardens, Broadstairs, Kent, CT10 2LG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2024: 6 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2024
25,268
62,832
39,098
127,198
Additions
615
615
--------
--------
--------
---------
At 31 March 2025
25,268
62,832
39,713
127,813
--------
--------
--------
---------
Depreciation
At 1 April 2024
19,584
1,309
22,548
43,441
Charge for the year
853
15,708
5,938
22,499
--------
--------
--------
---------
At 31 March 2025
20,437
17,017
28,486
65,940
--------
--------
--------
---------
Carrying amount
At 31 March 2025
4,831
45,815
11,227
61,873
--------
--------
--------
---------
At 31 March 2024
5,684
61,523
16,550
83,757
--------
--------
--------
---------
6. Debtors
2025
2024
£
£
Trade debtors
25,440
28,195
Other debtors
11,883
6,778
--------
--------
37,323
34,973
--------
--------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
8,425
16,335
Social security and other taxes
8,868
18,651
Other creditors
28,825
16,696
--------
--------
46,118
51,682
--------
--------
8. Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
7,120
14,887
-------
--------
9. Related party transactions
At the year end the company owed the director £7,592 (2024: £5,512).