Silverfin false false 31/10/2024 01/11/2023 31/10/2024 E McNeill 05/10/2010 29 April 2025 The principal activity of the Company during the financial year was that of interior designers. SC386505 2024-10-31 SC386505 bus:Director1 2024-10-31 SC386505 2023-10-31 SC386505 core:CurrentFinancialInstruments 2024-10-31 SC386505 core:CurrentFinancialInstruments 2023-10-31 SC386505 core:ShareCapital 2024-10-31 SC386505 core:ShareCapital 2023-10-31 SC386505 core:CapitalRedemptionReserve 2024-10-31 SC386505 core:CapitalRedemptionReserve 2023-10-31 SC386505 core:RetainedEarningsAccumulatedLosses 2024-10-31 SC386505 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC386505 core:OtherPropertyPlantEquipment 2023-10-31 SC386505 core:OtherPropertyPlantEquipment 2024-10-31 SC386505 bus:OrdinaryShareClass1 2024-10-31 SC386505 2023-11-01 2024-10-31 SC386505 bus:FilletedAccounts 2023-11-01 2024-10-31 SC386505 bus:SmallEntities 2023-11-01 2024-10-31 SC386505 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 SC386505 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC386505 bus:Director1 2023-11-01 2024-10-31 SC386505 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-11-01 2024-10-31 SC386505 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-11-01 2024-10-31 SC386505 2022-11-01 2023-10-31 SC386505 core:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 SC386505 core:CurrentFinancialInstruments 2023-11-01 2024-10-31 SC386505 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 SC386505 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC386505 (Scotland)

10 DESIGN LTD.

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH THE REGISTRAR

10 DESIGN LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024

Contents

10 DESIGN LTD.

BALANCE SHEET

AS AT 31 OCTOBER 2024
10 DESIGN LTD.

BALANCE SHEET (continued)

AS AT 31 OCTOBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 704 1,203
704 1,203
Current assets
Stocks 12,060 3,350
Debtors 4 25,868 81,212
Cash at bank and in hand 260,090 247,105
298,018 331,667
Creditors: amounts falling due within one year 5 ( 25,552) ( 51,776)
Net current assets 272,466 279,891
Total assets less current liabilities 273,170 281,094
Provision for liabilities 6 ( 102) ( 247)
Net assets 273,068 280,847
Capital and reserves
Called-up share capital 7 1 1
Capital redemption reserve 1 1
Profit and loss account 273,066 280,845
Total shareholder's funds 273,068 280,847

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of 10 Design Ltd. (registered number: SC386505) were approved and authorised for issue by the Director on 29 April 2025. They were signed on its behalf by:

E McNeill
Director
10 DESIGN LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
10 DESIGN LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

10 Design Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Titan Enterprise 1 Aurora Avenue, Queens Quay, Clydebank, G81 1BF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss for the period.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 - 5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans that are classified as debt, are initially recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 5

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2023 43,499 43,499
Disposals ( 36,298) ( 36,298)
At 31 October 2024 7,201 7,201
Accumulated depreciation
At 01 November 2023 42,296 42,296
Charge for the financial year 492 492
Disposals ( 36,291) ( 36,291)
At 31 October 2024 6,497 6,497
Net book value
At 31 October 2024 704 704
At 31 October 2023 1,203 1,203

4. Debtors

2024 2023
£ £
Trade debtors 24,197 79,438
Other debtors 1,671 1,774
25,868 81,212

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors ( 48) 12,660
Corporation tax 8,802 10,242
Other taxation and social security 11,584 17,276
Other creditors 5,214 11,598
25,552 51,776

There are no amounts included above in respect of which any security has been given by the small entity.

6. Provision for liabilities

2024 2023
£ £
Deferred tax 102 247

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts due to key management personnel 153 8,617