REGISTERED NUMBER: 03848891 (England and Wales)

DESIGN & SOURCE DIRECT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs M Hancock

Mrs E C Hutchison

REGISTERED OFFICE:

3 Ecclesbourne Avenue

Duffield

Derbyshire

DE56 4GE

REGISTERED NUMBER:

03848891 (England and Wales)

ACCOUNTANTS:

Duncan and Toplis Limited

Pinnacle House

1 Pinnacle Way,

Derby

Derbyshire

DE24 8ZS

FIXED ASSETS

Tangible assets

4

1,188

261

CURRENT ASSETS

Debtors

5

100,017

181,002

Cash at bank and in hand

102,949

128,069

202,966

309,071

CREDITORS

Amounts falling due within one year

6

74,225

126,906

NET CURRENT ASSETS

128,741

182,165

TOTAL ASSETS LESS CURRENT LIABILITIES

129,929

182,426

PROVISIONS FOR LIABILITIES

226

50

NET ASSETS

129,703

182,376

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

129,603

182,276

SHAREHOLDERS' FUNDS

129,703

182,376

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

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

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 Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mrs E C Hutchison - Director

1.	STATUTORY INFORMATION

Design & Source Direct 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.

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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings and equipment

-

33% on cost, 20% on cost and 20% on reducing balance

Taxation

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

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

and

equipment

£

COST

At 1 January 2024

2,254

Additions

1,139

At 31 December 2024

3,393

DEPRECIATION

At 1 January 2024

1,993

Charge for year

212

At 31 December 2024

2,205

NET BOOK VALUE

At 31 December 2024

1,188

At 31 December 2023

261

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

85,447

134,919

Other debtors

-

29,902

Directors' current accounts

13,173

15,178

VAT

404

300

Prepayments and accrued income

993

703

100,017

181,002

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

70,377

86,890

Tax

-

13,805

Social security and other taxes

40

40

Other creditors

-

20

Directors' current accounts

887

594

Accruals and deferred income

2,921

25,557

74,225

126,906

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1

100

100

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

Mrs E C Hutchison

Balance outstanding at start of year

15,178

(626

)

Amounts advanced

38,095

54,915

Amounts repaid

(40,100

)

(39,111

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

13,173

15,178

During the year interest was charged on the overdrawn directors loan account at the HMRC official rate of 2.25%.

The loan was repaid within 9 months of the year end.