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REGISTERED NUMBER: 03923875 (England and Wales)









DESIGN SPECIFIC LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025






DESIGN SPECIFIC LIMITED (REGISTERED NUMBER: 03923875)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DESIGN SPECIFIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: W D Taylor
C J Fisher





SECRETARY: J M P Dalton





REGISTERED OFFICE: Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY





REGISTERED NUMBER: 03923875 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY

DESIGN SPECIFIC LIMITED (REGISTERED NUMBER: 03923875)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,165 58,738
Investments 5 - -
48,165 58,738

CURRENT ASSETS
Stocks 224,689 218,846
Debtors 6 254,353 388,585
Cash at bank and in hand 109,093 53,035
588,135 660,466
CREDITORS
Amounts falling due within one year 7 159,296 116,059
NET CURRENT ASSETS 428,839 544,407
TOTAL ASSETS LESS CURRENT
LIABILITIES

477,004

603,145

CREDITORS
Amounts falling due after more than one
year

8

(16,732

)

(29,537

)

PROVISIONS FOR LIABILITIES 10 (6,473 ) (7,936 )
NET ASSETS 453,799 565,672

CAPITAL AND RESERVES
Called up share capital 11 200 200
Retained earnings 453,599 565,472
SHAREHOLDERS' FUNDS 453,799 565,672

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

DESIGN SPECIFIC LIMITED (REGISTERED NUMBER: 03923875)

BALANCE SHEET - continued
31 MARCH 2025


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

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 6 August 2025 and were signed on its behalf by:





W D Taylor - Director


DESIGN SPECIFIC LIMITED (REGISTERED NUMBER: 03923875)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

Design Specific 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.

Revenue recognition
Revenue is measured at fair value of the consideration received or receivable net of value added tax. Revenue is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

DESIGN SPECIFIC LIMITED (REGISTERED NUMBER: 03923875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2024 62,764 15,051 -
Additions 2,118 - 171
At 31 March 2025 64,882 15,051 171
DEPRECIATION
At 1 April 2024 30,444 13,340 -
Charge for year 6,453 428 44
At 31 March 2025 36,897 13,768 44
NET BOOK VALUE
At 31 March 2025 27,985 1,283 127
At 31 March 2024 32,320 1,711 -

DESIGN SPECIFIC LIMITED (REGISTERED NUMBER: 03923875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2024 21,150 18,801 117,766
Additions - 883 3,172
At 31 March 2025 21,150 19,684 120,938
DEPRECIATION
At 1 April 2024 1,322 13,922 59,028
Charge for year 4,957 1,863 13,745
At 31 March 2025 6,279 15,785 72,773
NET BOOK VALUE
At 31 March 2025 14,871 3,899 48,165
At 31 March 2024 19,828 4,879 58,738

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2024
and 31 March 2025 3,995 21,150 25,145
DEPRECIATION
At 1 April 2024 3,284 1,322 4,606
Charge for year 178 4,957 5,135
At 31 March 2025 3,462 6,279 9,741
NET BOOK VALUE
At 31 March 2025 533 14,871 15,404
At 31 March 2024 711 19,828 20,539

5. FIXED ASSET INVESTMENTS

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Design Specific US Inc
Registered office: USA
Nature of business: US distribution company
%
Class of shares: holding
Non-assessable (common stock) 100.00





The company owns 200 fully paid non-assessable (common stock) shares, without part value, in the subsidiary. These shares were issued to the company on incorporation of the subsidiary on 17 October 2007.

DESIGN SPECIFIC LIMITED (REGISTERED NUMBER: 03923875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 113,827 189,088
Amounts owed by group undertakings 124,629 188,309
Other debtors 15,897 11,188
254,353 388,585

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 10,462 10,205
Hire purchase contracts (see note 9) 2,353 1,603
Trade creditors 79,598 58,615
Taxation and social security 28,036 8,025
Other creditors 38,847 37,611
159,296 116,059

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 1,753 12,205
Hire purchase contracts (see note 9) 14,979 17,332
16,732 29,537

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2025 2024
£    £   
Gross obligations repayable:
Within one year 4,198 4,198
Between one and five years 16,427 20,625
20,625 24,823

Finance charges repayable:
Within one year 1,845 2,595
Between one and five years 1,448 3,293
3,293 5,888

Net obligations repayable:
Within one year 2,353 1,603
Between one and five years 14,979 17,332
17,332 18,935

DESIGN SPECIFIC LIMITED (REGISTERED NUMBER: 03923875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2025 2024
£    £   
Within one year 30,443 27,307
Between one and five years 12,982 19,472
43,425 46,779

10. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 6,473 7,936

Deferred
tax
£   
Balance at 1 April 2024 7,936
Provided during year (1,463 )
Balance at 31 March 2025 6,473

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
200 Ordinary £1 200 200

12. CONTINGENT LIABILITIES

On 7 June 2019, the company entered in to an agreement, amended by a deed of variation of contract on 1 July 2019, to guarantee the payments of all future amounts due to the sellers on the Design Specific Employee Ownership Trust's acquisition of 160 £1 ordinary shares in the company. At 31 March 2025, the amount remaining due to the sellers under the agreement was £121,552 (2024: £145,000).