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REGISTERED NUMBER: 07871848




















Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Madsen Design Ltd

Madsen Design Ltd (Registered number: 07871848)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Madsen Design Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTOR: H T Madsen





REGISTERED OFFICE: Oakley House
Tetbury Road
Cirencester
GL7 1US





REGISTERED NUMBER: 07871848

Madsen Design Ltd (Registered number: 07871848)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,263 1,744

CURRENT ASSETS
Debtors 6 17,818 15,841
Cash at bank 979 -
18,797 15,841
CREDITORS
Amounts falling due within one year 7 17,054 12,827
NET CURRENT ASSETS 1,743 3,014
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,006

4,758

CREDITORS
Amounts falling due after more than one
year

8

(3,335

)

(4,089

)

PROVISIONS FOR LIABILITIES (566 ) (436 )
NET ASSETS 105 233

CAPITAL AND RESERVES
Called up share capital 105 105
Retained earnings - 128
105 233

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 August 2025 and were signed by:





H T Madsen - Director


Madsen Design Ltd (Registered number: 07871848)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Madsen Design Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address on the Company Information Page.

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 preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on straight line basis

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date where material.

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.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Madsen Design Ltd (Registered number: 07871848)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

3. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2023 - 4,528 4,528
Additions 1,353 666 2,019
At 30 November 2024 1,353 5,194 6,547
DEPRECIATION
At 1 December 2023 - 2,784 2,784
Charge for year 451 1,049 1,500
At 30 November 2024 451 3,833 4,284
NET BOOK VALUE
At 30 November 2024 902 1,361 2,263
At 30 November 2023 - 1,744 1,744

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 1,017
Directors' current accounts 17,225 14,384
VAT - 313
Prepayments and accrued income 593 127
17,818 15,841

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 720 925
Trade creditors 1,018 371
Tax 12,510 9,512
Social security and other taxes (291 ) (499 )
VAT 513 -
Other creditors 1,096 833
Accruals and deferred income 1,488 1,685
17,054 12,827

Madsen Design Ltd (Registered number: 07871848)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 3,335 4,089

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

2024 2023
£    £   
H T Madsen
Balance outstanding at start of year 14,384 15,743
Amounts advanced 17,676 14,238
Amounts repaid (14,384 ) (15,597 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,676 14,384