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COMPANY REGISTRATION NUMBER: SC218833
Designshop (Edinburgh) Ltd
Filleted Unaudited Financial Statements
30 April 2024
Designshop (Edinburgh) Ltd
Officers and Professional Advisers
Director
P Haddad
Registered office
40 Woodside Drive
Penicuik
Scotland
EH26 8BH
Accountants
Warners
Chartered Accountants
3a The Wenta Business Centre
Colne Way
Watford
WD24 7ND
Designshop (Edinburgh) Ltd
Balance Sheet
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
179,733
184,521
Current assets
Stocks
3,926
3,926
Debtors
5
549
549
-------
-------
4,475
4,475
Creditors: amounts falling due within one year
6
1,013,656
1,013,536
------------
------------
Net current liabilities
1,009,181
1,009,061
------------
------------
Total assets less current liabilities
( 829,448)
( 824,540)
---------
---------
Net liabilities
( 829,448)
( 824,540)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 829,449)
( 824,541)
---------
---------
Shareholder deficit
( 829,448)
( 824,540)
---------
---------
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 profit and loss account has not been delivered.
For the 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.
Director's responsibilities:
- The member has 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 .
These financial statements were approved by the board of directors and authorised for issue on 2 August 2025 , and are signed on behalf of the board by:
PATRICK HADDAD _______________ Director
Company registration number: SC218833
Designshop (Edinburgh) Ltd
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 40 Woodside Drive, Penicuik, EH26 8BH, Scotland.
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. The financial statements are prepared in sterling, which is the functional currency of the entity. The company continues to be supported by the director who, despite the losses incurred, considers it appropriate for the accounts to be prepared on a going concern basis.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Property
-
2.50% straight line
Computers
-
30% straight line
Equipment
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
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 entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Tangible assets
Land and buildings
Computer equipment
Equipment
Total
£
£
£
£
Cost
At 1 May 2023
246,671
13,961
48,529
309,161
Disposals
( 13,961)
( 48,529)
( 62,490)
---------
--------
--------
---------
At 30 April 2024
246,671
246,671
---------
--------
--------
---------
Depreciation
At 1 May 2023
62,409
13,959
48,272
124,640
Charge for the year
4,529
2
257
4,788
Disposals
( 13,961)
( 48,529)
( 62,490)
---------
--------
--------
---------
At 30 April 2024
66,938
66,938
---------
--------
--------
---------
Carrying amount
At 30 April 2024
179,733
179,733
---------
--------
--------
---------
At 30 April 2023
184,262
2
257
184,521
---------
--------
--------
---------
5. Debtors
2024
2023
£
£
Other debtors
549
549
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
120
3,650
Corporation tax
7
7
Social security and other taxes
3,879
3,879
Director loan accounts
1,009,650
1,006,000
------------
------------
1,013,656
1,013,536
------------
------------