Origins Design Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07573156

Origins Design Limited

Filleted Unaudited Financial Statements

28 March 2025

Origins Design Limited

Statement of Financial Position

28 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		169,390	147,580

Current assets

Stocks		100,554	17,700
Debtors	6	400,966	402,069
Cash at bank and in hand		105,840	67,588
		---------	---------
		607,360	487,357

Creditors: amounts falling due within one year	7	548,463		413,230
		---------		---------
Net current assets			58,897	74,127
			---------	---------
Total assets less current liabilities			228,287	221,707

Creditors: amounts falling due after more than one year	8	2,180	12,477
		---------	---------
Net assets		226,107	209,230
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	226,007	209,130
	---------	---------
Shareholders funds	226,107	209,230
	---------	---------

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 statement of income and retained earnings has not been delivered.

For the year ending 28 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Origins Design Limited

Statement of Financial Position (continued)

28 March 2025

These financial statements were approved by the board of directors and authorised for issue on 4 December 2025 , and are signed on behalf of the board by:

Mr P Moulton Black	Mrs N Moulton Black
Director	Director

Company registration number: 07573156

Origins Design Limited

Notes to the Financial Statements

Year ended 28 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit C5 Sandown Industrial Park, Mill Road, Esher, England, KT10 8BL. The principal activity of the company during the year continued to be that of the design and manufacture of contemporary furniture.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have confirmed availability of working capital such that the company can settle its liabilities as they fall due for at least a further twelve months from the date of approving these accounts. As a result, the going concern basis has been adopted.

Revenue recognition

Turnover comprises the sale of bespoke furniture, exclusive of Value Added Tax, and is recognised in the period in which delivery takes place.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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:

Leasehold property	-	Over the lease term
Plant and machinery	-	20% straight line
Motor vehicles	-	20% straight line
Office equipment	-	20% straight line

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

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 18 (2024: 12 ).

5. Tangible assets

	Leasehold property	Plant and machinery	Motor vehicles	Office equipment	Total
	£	£	£	£	£
Cost
At 29 March 2024	120,023	63,813	23,810	3,833	211,479
Additions	2,203	4,859	33,275	1,874	42,211
	---------	--------	--------	-------	---------
At 28 March 2025	122,226	68,672	57,085	5,707	253,690
	---------	--------	--------	-------	---------
Depreciation
At 29 March 2024	3,793	42,416	15,529	2,161	63,899
Charge for the year	–	11,601	7,521	1,279	20,401
Transfers	4,001	( 4,001)	–	–	–
	---------	--------	--------	-------	---------
At 28 March 2025	7,794	50,016	23,050	3,440	84,300
	---------	--------	--------	-------	---------
Carrying amount
At 28 March 2025	114,432	18,656	34,035	2,267	169,390
	---------	--------	--------	-------	---------
At 28 March 2024	116,230	21,397	8,281	1,672	147,580
	---------	--------	--------	-------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	323,710	288,655
Other debtors	77,256	113,414
	---------	---------
	400,966	402,069
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,320	10,023
Trade creditors	8,104	15,147
Social security and other taxes	60,834	49,598
Other creditors	469,205	338,462
	---------	---------
	548,463	413,230
	---------	---------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	2,180	12,477
	-------	--------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	80,000	80,000
Later than 1 year and not later than 5 years	80,000	160,000
	---------	---------
	160,000	240,000
	---------	---------

10. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
The directors - dividends paid and loans received	25,000	20,000	( 24,429)	( 45,534)
	--------	--------	--------	--------