DESIGN EXCHANGE (SCOTLAND) CIC

Company Registration Number:
SC487439 (Scotland)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 1 July 2023

End date: 30 June 2024

DESIGN EXCHANGE (SCOTLAND) CIC

Contents of the Financial Statements

for the Period Ended 30 June 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

DESIGN EXCHANGE (SCOTLAND) CIC

Directors' report period ended 30 June 2024

The directors present their report with the financial statements of the company for the period ended 30 June 2024

Principal activities of the company

The principal activity of the company during the year under review was the operating and letting of owned real estate.



Directors

The directors shown below have held office during the whole of the period from
1 July 2023 to 30 June 2024

Lynzi Leroy
Evelyn McDonald
Joe Myles


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
26 June 2025

And signed on behalf of the board by:
Name: Lynzi Leroy
Status: Director

DESIGN EXCHANGE (SCOTLAND) CIC

Balance sheet

As at 30 June 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 27,296 35,018
Total fixed assets: 27,296 35,018
Current assets
Debtors: 4 32,073 49,195
Cash at bank and in hand: 277,879 192,650
Total current assets: 309,952 241,845
Creditors: amounts falling due within one year: 5 ( 240,411 ) ( 176,303 )
Net current assets (liabilities): 69,541 65,542
Total assets less current liabilities: 96,837 100,560
Creditors: amounts falling due after more than one year: 6 ( 39,165 ) ( 60,371 )
Total net assets (liabilities): 57,672 40,189
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 57,670 40,187
Total Shareholders' funds: 57,672 40,189

The notes form part of these financial statements

DESIGN EXCHANGE (SCOTLAND) CIC

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 26 June 2025
and signed on behalf of the board by:

Name: Lynzi Leroy
Status: Director

The notes form part of these financial statements

DESIGN EXCHANGE (SCOTLAND) CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives.

    Other accounting policies

    Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

DESIGN EXCHANGE (SCOTLAND) CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 25 24

DESIGN EXCHANGE (SCOTLAND) CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2023 5,277 63,953 69,230
Additions 17,077 17,077
Disposals
Revaluations
Transfers
At 30 June 2024 5,277 81,030 86,307
Depreciation
At 1 July 2023 5,277 28,935 34,212
Charge for year 24,799 24,799
On disposals
Other adjustments
At 30 June 2024 5,277 53,734 59,011
Net book value
At 30 June 2024 0 27,296 27,296
At 30 June 2023 0 35,018 35,018

DESIGN EXCHANGE (SCOTLAND) CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Debtors

2024 2023
£ £
Trade debtors 12,429 13,695
Prepayments and accrued income 4,644 5,500
Other debtors 15,000 30,000
Total 32,073 49,195

DESIGN EXCHANGE (SCOTLAND) CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 5,555 5,555
Trade creditors 40,654 14,222
Taxation and social security 36,337 22,795
Other creditors 157,865 133,731
Total 240,411 176,303

DESIGN EXCHANGE (SCOTLAND) CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 27,315 32,871
Other creditors 11,850 27,500
Total 39,165 60,371

COMMUNITY INTEREST ANNUAL REPORT

DESIGN EXCHANGE (SCOTLAND) CIC

Company Number: SC487439 (Scotland)

Year Ending: 30 June 2024

Company activities and impact

Support for Artists & Designers in Scotland: We support over 320 artists and designers from our Edinburgh and Glasgow stores. We work with the artists and designers to help develop their products, working on branding, pricing, product sustainability, marketing, and social media. The artist rent a space within our store for an affordable fixed fee, which covers our costs for running the stores with any profits reinvested to support the artists and to run our social & charitable projects. The artists keep 100% of the sale of their products. We have paid out over £20m to the artists we work with since 2015, which not only supports the artists, but also supports the local economy. Support for Charities & Social enterprises: We provide social enterprises and charities with a free space to sell products, to help them raise funds towards their projects. As well as a free space within our store, we provide support and advice on how to develop their products and increase their income. In this financial year we provided a free space in our Edinburgh store, to help and support a wonderful social enterprise business, Abandoned Artists CIC, who work with displaced people. Their particular focus when they set up, was to help and support Ukrainian’s who fled the war, by offering art therapy groups. To help and support this project, we provided art supplies from the Art Bank and gave this group a free space within the store, to sell their products and raise funds. This project supported a group of 8 artists, which helped them gain confidence and improve their English, while being under incredible difficult circumstances, having to leave their homes and sometimes their families, due to the war in Ukraine. Education: Napier University Mentorship Programme: We run a yearly mentorship programme with Product Design Students from Napier University. The students work with our CEO for 3 months to create a new product from design to manufacturing. We meet weekly to discuss the sustainability of the product, the materials to use, the manufacturing and sale price, branding and marketing. Once the product has been made, the students get a free space within the store for one month to sell their product. Free art classes at YMCA Edinburgh: We run free art classes at the YMCA Edinburgh in Leith. The YMCA work within an area of deprivation. Our art classes are currently running for their women’s group every Wednesday. We provide all the materials for the classes and pay an artist to run the classes. Art Bank: We run an Art Bank where we collect art supplies and materials from the 320 artists we work with and from call outs to the public. We donate the supplies to charities, schools, and social enterprise projects to run art classes. As budgets are cut for the arts, schools are finding it difficult to support the arts, with many Teachers using their own money to purchase materials for art projects. We started the Art Bank to collect materials that would have otherwise been likely put into landfill, to help Schools and Charities access good quality art supplies. In this financial year, we have provided art supplies to 12 charities and social enterprises in Scotland, with a number of them now receiving regular supplies to run art classes for groups that help to support a varied section of the community, from kids, adults with learning disabilities, refugee groups, women’s groups and groups that support mental health and homeless. Business Support for Artists: As we come into our 10th Year, we have many artists who rely solely on the income from our stores for their businesses and livelihood. We provide business support to our artists to help them gain confidence in areas such as finance, marketing and branding, which not only allows them to improve their sales in our stores, but to help them create products that sell well online and in other stores, to grow their businesses. This year we are creating a series of online training programmes, specific to artists, to help them look at their costs and how to increase their income. We have also developed an app that will allow our artists to quickly look at their product profitability.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
26 June 2025

And signed on behalf of the board by:
Name: Lynzi Leroy
Status: Director