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REGISTERED NUMBER: 04746586 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MY DESIGN COMPANY (UK) LIMITED

MY DESIGN COMPANY (UK) LIMITED (REGISTERED NUMBER: 04746586)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MY DESIGN COMPANY (UK) LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: Ms G E Gain
Mr J Merdassi





SECRETARY: Ms G E Gain





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 04746586 (England and Wales)





ACCOUNTANTS: Raffingers Holdings Limited
Chartered Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

MY DESIGN COMPANY (UK) LIMITED (REGISTERED NUMBER: 04746586)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 12,607 18,487
Tangible assets 5 4,596 5,407
17,203 23,894

CURRENT ASSETS
Debtors 48,070 90,211
Cash at bank 36,501 20,391
84,571 110,602
CREDITORS
Amounts falling due within one year 150,986 267,838
NET CURRENT LIABILITIES (66,415 ) (157,236 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(49,212

)

(133,342

)

CREDITORS
Amounts falling due after more than one
year

6

93,772

89,411
NET LIABILITIES (142,984 ) (222,753 )

CAPITAL AND RESERVES
Called up share capital 13 13
Share premium 199,999 199,999
Retained earnings (342,996 ) (422,765 )
(142,984 ) (222,753 )

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

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

The directors acknowledge their 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.

MY DESIGN COMPANY (UK) LIMITED (REGISTERED NUMBER: 04746586)

ABRIDGED BALANCE SHEET - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2025 and were signed on its behalf by:





Mr J Merdassi - Director


MY DESIGN COMPANY (UK) LIMITED (REGISTERED NUMBER: 04746586)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

My Design Company (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the directors.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with business acquisitions is being amortised evenly over their estimated useful life of 10 years.

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 - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MY DESIGN COMPANY (UK) LIMITED (REGISTERED NUMBER: 04746586)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

Management charges
A proportion of administrative expenses are recharged as management charges to My Design Collections Limited, a company under common control.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 58,796
AMORTISATION
At 1 April 2023 40,309
Amortisation for year 5,880
At 31 March 2024 46,189
NET BOOK VALUE

At 31 March 2024 12,607
At 31 March 2023 18,487

MY DESIGN COMPANY (UK) LIMITED (REGISTERED NUMBER: 04746586)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 73,219
DEPRECIATION
At 1 April 2023 67,812
Charge for year 811
At 31 March 2024 68,623
NET BOOK VALUE
At 31 March 2024 4,596
At 31 March 2023 5,407

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans 63,912 59,551

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 60,976 52,992

Loans include Funding Circle which is secured by way of a personal guarantee by the directors.

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year the company paid management fees to My Design Collections Limited of £24,000 (2023: £18,000), a company under common control.