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Registration number: 11920466

Design Solution Projects Ltd

trading as Lime Licensing Group South West

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Design Solution Projects Ltd

trading as Lime Licensing Group South West

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Design Solution Projects Ltd

trading as Lime Licensing Group South West

(Registration number: 11920466)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

6,000

9,620

Tangible assets

5

7,147

8,331

 

13,147

17,951

Current assets

 

Stocks

6

-

56,352

Debtors

7

70,353

31,123

Cash at bank and in hand

 

12,083

80,527

 

82,436

168,002

Creditors: Amounts falling due within one year

8

(51,099)

(143,063)

Net current assets

 

31,337

24,939

Total assets less current liabilities

 

44,484

42,890

Creditors: Amounts falling due after more than one year

8

(10,977)

(21,826)

Provisions for liabilities

(2,083)

(2,083)

Net assets

 

31,424

18,981

Capital and reserves

 

Called up share capital

2

2

Retained earnings

31,422

18,979

Shareholders' funds

 

31,424

18,981

 

Design Solution Projects Ltd

trading as Lime Licensing Group South West

(Registration number: 11920466)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 May 2025 and signed on its behalf by:
 

.........................................
Mr B T McHugh
Director

.........................................
Mrs S J E McHugh
Director

 

Design Solution Projects Ltd

trading as Lime Licensing Group South West

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
1 Pavilion Square
Cricketers Way
Westhoughton
Bolton
BL5 3AJ
United Kingdom

These financial statements were authorised for issue by the Board on 2 May 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.

Going concern

The accounts have been prepared on a going concern basis.

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.

 

Design Solution Projects Ltd

trading as Lime Licensing Group South West

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises current 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.

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

Motor vehicles

25% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Design Solution Projects Ltd

trading as Lime Licensing Group South West

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise fee

20% Straight line

Goodwill

20% Straight line

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 4).

 

Design Solution Projects Ltd

trading as Lime Licensing Group South West

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Goodwill
 £

Franchise fee
£

Total
£

Cost or valuation

At 1 May 2023

25,000

23,100

48,100

Additions acquired separately

7,500

-

7,500

At 30 April 2024

32,500

23,100

55,600

Amortisation

At 1 May 2023

20,000

18,480

38,480

Amortisation charge

6,500

4,620

11,120

At 30 April 2024

26,500

23,100

49,600

Carrying amount

At 30 April 2024

6,000

-

6,000

At 30 April 2023

5,000

4,620

9,620

5

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

15,514

15,514

At 30 April 2024

15,514

15,514

Depreciation

At 1 May 2023

7,183

7,183

Charge for the year

1,184

1,184

At 30 April 2024

8,367

8,367

Carrying amount

At 30 April 2024

7,147

7,147

At 30 April 2023

8,331

8,331

 

Design Solution Projects Ltd

trading as Lime Licensing Group South West

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Stocks

2024
£

2023
£

Work in progress

-

56,352

7

Debtors

Current

2024
£

2023
£

Trade debtors

(7,500)

24,200

Prepayments

1,338

1,338

Other debtors

76,515

5,585

 

70,353

31,123

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,648

9,648

Trade creditors

 

2,252

19,517

Taxation and social security

 

5,367

41,978

Accruals and deferred income

 

28,000

71,440

Other creditors

 

4,832

480

 

51,099

143,063

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £9,648 (2022: £9,648)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10,977

21,826

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £21,826 (2022: £31,532)