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Registered number: 07222191
The Design Collective (London) Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Rectory Accounting Ltd
Rectory House
Main Street
Beckley
East Sussex
TN316RS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07222191
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 40,384 36,788
40,384 36,788
CURRENT ASSETS
Debtors 5 315,550 170,776
Cash at bank and in hand 147,061 725,218
462,611 895,994
Creditors: Amounts Falling Due Within One Year 6 (293,509 ) (140,755 )
NET CURRENT ASSETS (LIABILITIES) 169,102 755,239
TOTAL ASSETS LESS CURRENT LIABILITIES 209,486 792,027
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,670 ) (6,239 )
NET ASSETS 201,816 785,788
CAPITAL AND RESERVES
Called up share capital 7 4 10
Capital redemption reserve 6 -
Profit and Loss Account 201,806 785,778
SHAREHOLDERS' FUNDS 201,816 785,788
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Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Wadey
Director
30th December 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Design Collective (London) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07222191 . The registered office is Somerset House, Ground Floor West, 47-49 London Road, Redhill, Surrey, RH1 1LU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 25% straight line
Motor Vehicles 25% reducing balance
Computer Equipment 25% straight line
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2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2024: 11)
13 11
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 26,165 31,916 37,308 95,389
Additions - 23,238 1,082 24,320
As at 31 March 2025 26,165 55,154 38,390 119,709
Depreciation
As at 1 April 2024 13,867 22,331 22,403 58,601
Provided during the period 5,232 7,469 8,023 20,724
As at 31 March 2025 19,099 29,800 30,426 79,325
...CONTINUED
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Net Book Value
As at 31 March 2025 7,066 25,354 7,964 40,384
As at 1 April 2024 12,298 9,585 14,905 36,788
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 268,154 139,711
Other debtors 47,396 31,065
315,550 170,776
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 4,499 -
Other creditors 51,541 3,952
Taxation and social security 237,469 136,803
293,509 140,755
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 4 10
On 17 February 2025 the company purchased 6 Ordinary shares out of distributable profits. An amount equivalent to the nominal value of the shares was transferred to the Capital Redemption Reserve and the shares were subsequently cancelled.
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