Registration number:
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Design Go Limited
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Brebners
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Design Go Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Statement of Income and Retained Earnings |
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Statement of Financial Position |
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Notes to the Financial Statements |
Design Go Limited
Company Information
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Directors |
G M Rogers J Rogers |
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Company secretary |
G M Rogers |
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Registered office |
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Auditor |
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Design Go Limited
Strategic Report for the Year Ended 31 March 2025
The directors present their strategic report for the year ended 31 March 2025.
Principal activity
The principal activity of the company is the design, manufacture and distribution of travel accessories and related products. These products are sold globally with particular emphasis on the duty free and travel retail sectors. The majority of products sold are protected by intellectual property rights owned by the company.
The company's main brand "Go Travel" focuses on designing travel accessories with useful innovation for the everyday commuter, jetsetter, family traveller and even for use in the home. Functional and feature-rich designs that truly benefit each individual. Whether it’s travel adaptors or travel towels, Go Travel has over 150 much-loved accessories. Go Travel’s global operation sees its products distributed in over 110 countries worldwide, across thousands locations, from the high street to airports, spanning multiple channels.
Operational Streamlining and Digital Transformation
A number of key initiatives have been implemented to enhance operational efficiency and strengthen the company’s infrastructure:
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Asia Expansion and Supply Chain Integration
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Advanced Stock Analytics Implementation
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Automated Business Reporting
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AI Impact Assessment and Digital Transformation
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Our commitment to sustainability and responsible business practices continues to evolve across every area of our operations. We are expanding the use of eco-friendly materials in our range, including GRS-certified rPET fabrics for lightweight bags and travel pillow covers, the introduction of product made from recycled plastics known as rPVC and ensuring that all new packaging is FSC-certified to guarantee responsible sourcing from well-managed forests.
Beyond environmental stewardship, we maintain rigorous social and governance standards through our Ethical Code of Conduct, which extends to all suppliers and manufacturing partners. Our Compliance Team conducts regular factory visits to foster transparency, encourage diversity across our workforce and supply chain, and ensure that all partners are members of Sedex or BSCI, audited annually to recognised international social accountability standards
Product Development - Product development innovation continues and a number of new products have been launched into the portfolio. Our USA memory foam facility in Chattanooga continues to provide major cost competitive advantages, mitigating that affects of new USA tariffs and production output has hit an all-time high. We continue to streamline the product portfolio and aggressively pursue favoured pricing from suppliers.
Design Go Limited
Strategic Report for the Year Ended 31 March 2025
Fair review of the business
The directors aim to present a balanced and comprehensive review of the development and performance of the company's business for the year ended 31 March 2025 and its position at that date.
For the year ended 31 March 2025 company turnover has fallen from £21,056,524 to £19,634,207. The gross profit margin rose to 26% despite general price increases globally and the demands from global retailers. The company operates in the travel and leisure industry which is not only recovering from Covid lock downs but continued supply chain disruption. Global conflicts are driving shipping costs and extending delivery lead times from suppliers. The demand for travel products and accessories for both domestic and international travel has returned to pre-pandemic levels and in some areas surpassed it. However, despite this positive passenger number trend, consumer spending is softening as a result of inflation and increased living costs.
The directors have looked to mitigate the impact of the these factors by reducing costs where possible. This has been achieved through continued operational efficiencies, allowing the company to function with a reduced workforce, product consolidation and renegotiations with suppliers. Both income and expenditure continue to be reviewed and measures have been taken to reduce overheads, where possible.
In recent years the company made significant investment in new product design and development in order to ensure the continued growth and success of the Go Travel brand. A number of new products have entered the market Additionally, a major packaging initiative is well under way where products are being moved into environmentally friendly formats as we depart from packaging with plastics. The supply chain is constantly reviewed with particular emphasis on fulfilment, quality and price.
Go Travel is an established and highly respected brand with a loyal, global customer base. The company plans to continue its’ global expansion through organic growth, new distribution channels and strategic partnerships with other leading retailers in the sector.
The company considers its key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover, gross profit and operating profit and liquidity.
The company's key financial and other performance indicators during the year were as follows:
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Financial KPIs |
Unit |
2025 |
2024 |
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Turnover |
£ |
19,634,207 |
21,056,524 |
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Gross Profit |
£ |
5,172,343 |
4,824,845 |
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Gross Profit Margin |
% |
26.34 |
22.91 |
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Operating Profit\(Loss) |
£ |
144,482 |
449,894 |
The statement of financial position at 31 March 2025 remains positive with net assets of £4,596,531. Net assets have increased by £114,111 and the company had cash held at 31 March 2025 of £1,869,873. Debtors have risen and marginal increase in creditors as the company decreased its trading activities in order to mitigate costs. The directors are hopeful that the 2025/26 year will remain profitable at higher levels than previously incurred in normal trading conditions.
Non-financial Key Performance Indicators
The company seeks to ensure that responsible business practice is fully integrated into the management of all its operations and into the culture of all parts of its business. It believes that the consistent adoption of reasonable business practice is essential for operational excellence, which in turn, ensures the delivery of its core objectives of sustained profitability.
Design Go Limited
Strategic Report for the Year Ended 31 March 2025
Principal risks and uncertainties including Covid-19
The UK government continues the process of negotiating the terms of the UK's future relationship with the EU. The directors remain mindful of the continuing risk to the business from the range of uncertain Brexit developments and outcomes, including volatility in the strength of £ sterling versus the US dollar and EURO, supply chain disruption, trading tariffs imposed by the EU and economic uncertainty leading to reduced consumer spending. The directors will closely monitor ongoing progress, and adapt trading and operational plans accordingly.
The directors are responsible for identifying significant risks to the business and for ensuring that appropriate internal controls and risk management is in place to allow the company to achieve its strategic objectives and determine the level of risk acceptable to the company. This is subject to regular review. The company seeks to mitigate its risks through the application of strict limits, controls and monitoring processes at the operational level.
Operational Risk
Operational risk is caused by failures in business processes, or the systems or physical infrastructure that support them, that have the potential to result in financial loss or reputation damage. This includes errors, omissions, systems failure, lack of resources or physical assets and deliberate acts such as fraud.
The regulated environment in which the company operates imposes reporting requirements and continuing self assessment and appraisal. The company seeks to continually improve its operating efficiencies and standards. Operational risks are also limited by following the working practices required to maintain trading globally.
Credit Risk
Credit risk is the risk of financial loss to the company if a customer fails to meets its contractual obligations and arises principally from its trade debtors.
There is no material concentration of credit risk with any single customer. The company has a credit policy under which new customers are assessed for creditworthiness before credit terms are offered. Larger customers are monitored on a daily basis and accounts are placed on supply hold when appropriate. Sales are made on a proforma basis in circumstances here there is any doubt about the creditworthiness of a customer.
Market Risk and Market Competition
The company operates in competitive markets in the UK and worldwide. The company aims to mitigate these risks through a culture of constant innovation and improvement. Particular importance is given to the design, manufacture and launch of innovative new products. The company also exhibits its products annually at a number of international trade shows which cater principally for the duty free and travel retail sectors. These shows include the International Travel Goods Show in the USA, the TFWA Shows in France and Singapore and the Messe Offenbach Fair in Germany.
Design Go Limited
Strategic Report for the Year Ended 31 March 2025
Foreign Currency Risk
The company is exposed to currency risk on purchases and trade debtors that are denominated in a currency other than sterling.
The majority of the purchases made by the company are denominated in US dollars. The company is therefore subject to exchange risk from the movement in the GBP/USD exchange rate. A significant proportion of the sales of the company are denominated in US dollars and the company therefore benefits from a natural hedge against movements in the GBP/USD exchange rate. Where appropriate the company also mitigates foreign exchange risk through the use of financial instruments such as forward exchange contracts.
Risk Summary
The directors continuously monitor and respond to changes in the company's risk environment, so ensuring that the company remains well placed to address operational, reputational, financial and business risks in a timely and appropriate manner.
Future developments and going concern
It is clear there are still global issues following the 2020 Covid-19 lockdowns. National debt, interest rates have spiked, the war in Ukraine is ongoing and many western economies are showing signs of economic distress.
The directors are confident that despite the predicted general expected downturn in the global economy coupled with high inflation, the company has come out of the pandemic much stronger and sales are expect to continue to grow from the previous fiscal year.
Not only has the company returned to profitability, it has done so with a reduced workforce, lower cost base and a healthy stock position going forward. Furthermore, its strategic focus and quality proposition continues to resonate with the market - The company has secured several distributors, restructured its USA operation with new senior management, new 3rd Party warehouse leading to considerable savings and the US pillow production facility is on target for record output.
The company continues to conduct a review of all elements of its operations and the potential impact of the UK’s withdrawal from the European Union and new visa restrictions entering the Schengen area. That said, better stock management, range consolidation, new products, refreshed packaging along with securing major retail contracts well into 2026, sales growth with improved margins are expected.
The directors intend to continue to make investments in the business to ensure the company maintains its reputation in the travel industry and will continue to be investigating ways to increase turnover through global opportunities as they arise, whilst managing working capital through its obvious recovery.
Approved by the
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Director
Design Go Limited
Directors' Report for the Year Ended 31 March 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
Directors of the company
The directors who held office during the year were as follows:
Dividends
No interim dividends were paid during the year (2024: £Nil). No final dividend is proposed.
Information included in the Strategic Report
The company has chosen in accordance with Section 414C(11) Companies Act 2006 to set out in the company's strategic report information required by Schedule 7 of the large and medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report.
Directors' liabilities
As permitted by the Articles of Association, the Directors have the benefit of an indemnity which is a qualifying third party indemnity provision as defined by Section 234 of the Companies Act 2006. The indemnity was in force throughout the last financial year and is currently in force.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved by the director on
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G M Rogers
Director
Design Go Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Design Go Limited
Independent Auditor's Report to the Members of Design Go Limited
for the Year Ended 31 March 2025
Opinion
We have audited the financial statements of Design Go Limited (the 'company') for the year ended 31 March 2025, which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Design Go Limited
Independent Auditor's Report to the Members of Design Go Limited
for the Year Ended 31 March 2025
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities (set out on page 7), the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Design Go Limited
Independent Auditor's Report to the Members of Design Go Limited
for the Year Ended 31 March 2025
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the company and the industry in which it operates, we determined that the principal risks of non-compliance with laws and regulations related to the reporting framework (FRS 102 and the Companies Act 2006) and UK corporate taxation laws and e.g. environmental legislation, health and safety legislation, anti-bribery legislation, data protection legislation and general product safety regulations. These risks were communicated to our audit team and we remained alert to any indications of non-compliance throughout our audit.
We understood how the company is complying with relevant legislation by making enquiries of management and those responsible for legal and compliance procedures. We also considered the results of our audit procedures and to what extent these corroborate this understanding and assessed the susceptibility of the company’s financial statements to material misstatement. This included consideration of how fraud might occur and evaluation of management’s incentives and opportunities for fraudulent manipulation of the financial statements.
We designed our audit procedures to identify any non-compliance with laws and regulations. Such procedures included, but were not limited to, inspection of any regulatory or legal correspondence; challenging assumptions and judgements made by management; identifying and testing journal entries with a focus on large or unusual transactions as determined based on our understanding of the business; and identifying and assessing the effectiveness of controls in place to prevent and detect fraud.
Owing to the inherent limitations of an audit, there remains a risk that a material misstatement may not have been detected, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance with laws and regulations and cannot be expected to detect all instances of non-compliance.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
The primary responsibility for the detection and prevention of fraud rests with those responsible for governance and management. The further removed non-compliance with laws and regulations is from the events reflected in the financial statements, the less likely the auditor will become aware of it.
The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission, misrepresentation or forgery.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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For and on behalf of
130 Shaftesbury Avenue
W1D 5AR
Design Go Limited
Statement of Income and Retained Earnings for the Year Ended 31 March 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Distribution costs |
( |
( |
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Administrative expenses |
( |
( |
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Operating profit |
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Other interest receivable and similar income |
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Interest payable and similar charges |
( |
( |
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(30,371) |
(156,638) |
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Profit before tax |
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Profit for the financial year |
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Retained earnings brought forward |
4,472,420 |
4,179,164 |
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Retained earnings carried forward |
4,586,531 |
4,472,420 |
Design Go Limited
Statement of Financial Position as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
10,000 |
10,000 |
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Profit and loss account |
4,586,531 |
4,472,420 |
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Shareholders' funds |
4,596,531 |
4,482,420 |
Approved and authorised by the
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G M Rogers
Director
Company registration number: 01477762
Design Go Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of the design, manufacture and distribution of travel accessories and related products.
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Accounting policies |
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Summary of disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of D G International Holdings Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
(a) No cash flow statement has been presented for the company.
(b) No disclosure has been made of financial instruments measured at fair value through profit or loss.
(c) No disclosure has been given for the aggregate remuneration of key management personnel.
Going concern
The statement of financial position showed the company had net current assets at 31 March 2025 amounting to £3,519,829 and net assets amounting to £4,596,531, including cash at bank of £1,869,873.
The directors have considered the potential effect of the ongoing economic uncertainty in the United Kingdom and the directors' view is that there will be no significant effects. The company's management accounts for the period ended 30 September 2025 show continued profitability and the cashflow forecasts demonstrate that the company has sufficient working capital for a period of at least 12 months from the date of approval of the financial statements.
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Design Go Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. Key assumptions and other estimation uncertainties provide a risk of causing a material adjustment to the carrying values of assets and liabilities. |
Judgements and estimates that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: |
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. |
The company makes an estimate of the recoverable value of trade debtors. When assessing any potential impairment of trade debtors, management considers factors including the ageing profile of debtors and historical experience. |
The company makes an estimate of the valuation to the provision of slow moving stock lines. When assessing the possible provision for a stock line is considered, management assess the volume of that line recently sold, the advertising and promotion of said line, and whether the stock line is considered obsolete due to technological advancements. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.
Turnover is recognised when products are delivered to customers.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Design Go Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
15% to 33% reducing balance |
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Fixtures and fittings |
20% reducing balance |
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Computer equipment |
33% straight line |
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Motor vehicles |
25% reducing balance |
Intangible assets
Separately acquired trademarks and patents are shown at historical cost.
Trademarks, patents, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, patents, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Trademarks, patents and licences |
10 years straight line |
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Software Development |
3 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods comprises the cost of freight, duty and anciliary costs incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Design Go Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when, in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party and in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.
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Revenue |
The analysis of the company's turnover for the year from continuing operations is as follows:
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2025 |
2024 |
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Sale of goods |
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The analysis of the company's turnover for the year by market is as follows:
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2025 |
2024 |
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UK |
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Europe |
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Rest of world |
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Operating profit |
Arrived at after charging/(crediting)
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2025 |
2024 |
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Bad debts |
104,359 |
(106,968) |
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Depreciation expense |
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Amortisation expense |
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|
|
Foreign exchange losses/(gains) |
|
( |
|
Loss on disposal of property, plant and equipment |
- |
|
Design Go Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the company during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
Sales, marketing and distribution |
|
|
|
Senior management |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
168,000 |
168,375 |
Design Go Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Auditor's remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
|
Other fees to auditors |
||
|
Taxation compliance services |
|
|
|
All other non-audit services |
|
|
|
|
|
|
Taxation |
The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2024 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax decrease from effect of capital allowances and depreciation |
( |
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
( |
|
|
Effect of tax losses |
( |
( |
|
Total tax charge/(credit) |
- |
- |
Design Go Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Intangible assets |
|
Trademarks, patents and licenses |
Software development |
Total |
|
|
Cost or valuation |
|||
|
At 1 April 2024 |
|
|
|
|
Additions |
|
|
|
|
At 31 March 2025 |
|
|
|
|
Amortisation |
|||
|
At 1 April 2024 |
|
|
|
|
Amortisation charge |
|
|
|
|
At 31 March 2025 |
|
|
|
|
Carrying amount |
|||
|
At 31 March 2025 |
|
|
|
|
At 31 March 2024 |
|
- |
|
|
Tangible assets |
|
Fixtures and fittings |
Plant and Machinery |
Total |
|
|
Cost or valuation |
|||
|
At 1 April 2024 |
|
|
|
|
Additions |
|
|
|
|
At 31 March 2025 |
|
|
|
|
Depreciation |
|||
|
At 1 April 2024 |
|
|
|
|
Charge for the year |
|
|
|
|
At 31 March 2025 |
|
|
|
|
Carrying amount |
|||
|
At 31 March 2025 |
|
|
|
|
At 31 March 2024 |
|
|
|
Design Go Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Stocks |
|
2025 |
2024 |
|
|
Other inventories |
|
|
Stock is stated net of a provision for obsolescence and diminution in value of £6,249 (2024: £61,123).
|
Debtors |
|
2025 |
2024 |
|
|
Trade debtors |
|
|
|
Amounts owed by group undertakings |
|
|
|
Other debtors |
|
|
|
Prepayments |
|
|
|
Corporation tax asset |
|
|
|
Total current trade and other debtors |
|
|
Trade debtors are stated net of a provision for non recovery of £665,046 (2024: £595,707).
Other debtors includes an amount of £110,833 (2024: £38,930) recoverable in greater than one year.
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash at bank |
|
|
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Loans and borrowings |
- |
|
|
|
Trade creditors |
|
|
|
|
Amounts owed to group undertakings |
|
|
|
|
Social security and other taxes |
|
|
|
|
Accrued expenses |
|
|
|
|
|
|
||
|
Due after one year |
|||
|
Loans and borrowings |
- |
|
Design Go Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
10,000 |
|
10,000 |
There are no restrictions on the repayment of capital or the declaration of dividends.
|
Loans and borrowings |
Non-current loans and borrowings
|
2025 |
2024 |
|
|
Bank loans |
- |
|
Current loans and borrowings
|
2025 |
2024 |
|
|
Bank loans |
- |
|
|
Commitments, guarantees and contingencies |
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
- |
|
|
|
|
Design Go Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
The company has guaranteed the bank loan of a group undertaking. The guarantee is secured by a fixed and floating charge over the assets undertakings of the company. No liability is expected to arise from this guarantee.
The bank have issued a deferment bond to H M Customs & Excise for £92,500 and the company has a derivatives facility of £1,500,000. These facilities are also secured by a fixed and floating charge over the assets and undertakings of the company.
|
Related party transactions |
Exemption has been taken under FRS 102, paragraph 33.1A not to disclose transactions or amounts due with companies that are wholly owned within the group.
|
Parent and ultimate parent undertaking |
The company's immediate and ultimate parent is D G International Holdings Limited.
The registered office of D G International Holdings Limited is: Unit 1 Mill Hill Industrial Estate, Flower Lane, Mill Hill, London, NW7 2HU.
The smallest and largest group preparing group accounts including the results of the company are headed by D G International Holdings Limited.
|
Control |
Ultimate control vests with J Rogers.