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Caseware UK (AP4) 2016.0.208 2016.0.208 2018-01-312018-01-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueshopfitting and designfalse2017-02-01 01242374 2017-02-01 2018-01-31 01242374 2018-01-31 01242374 2017-01-31 01242374 c:CompanySecretary1 2017-02-01 2018-01-31 01242374 c:Director1 2017-02-01 2018-01-31 01242374 c:RegisteredOffice 2017-02-01 2018-01-31 01242374 d:OfficeEquipment 2017-02-01 2018-01-31 01242374 d:OfficeEquipment 2018-01-31 01242374 d:OfficeEquipment 2017-01-31 01242374 d:OfficeEquipment d:OwnedOrFreeholdAssets 2017-02-01 2018-01-31 01242374 d:OtherPropertyPlantEquipment 2017-02-01 2018-01-31 01242374 d:OtherPropertyPlantEquipment 2018-01-31 01242374 d:OtherPropertyPlantEquipment 2017-01-31 01242374 d:OwnedOrFreeholdAssets 2017-02-01 2018-01-31 01242374 d:CurrentFinancialInstruments 2018-01-31 01242374 d:CurrentFinancialInstruments 2017-01-31 01242374 d:CurrentFinancialInstruments d:WithinOneYear 2018-01-31 01242374 d:CurrentFinancialInstruments d:WithinOneYear 2017-01-31 01242374 d:ShareCapital 2018-01-31 01242374 d:ShareCapital 2017-01-31 01242374 d:RetainedEarningsAccumulatedLosses 2018-01-31 01242374 d:RetainedEarningsAccumulatedLosses 2017-01-31 01242374 d:AcceleratedTaxDepreciationDeferredTax 2018-01-31 01242374 d:AcceleratedTaxDepreciationDeferredTax 2017-01-31 01242374 c:OrdinaryShareClass1 2017-02-01 2018-01-31 01242374 c:OrdinaryShareClass1 2018-01-31 01242374 c:FRS102 2017-02-01 2018-01-31 01242374 c:AuditExempt-NoAccountantsReport 2017-02-01 2018-01-31 01242374 c:FullAccounts 2017-02-01 2018-01-31 01242374 c:PrivateLimitedCompanyLtd 2017-02-01 2018-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01242374










DESIGNRITE SHOPFITTERS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

 
DESIGNRITE SHOPFITTERS LIMITED
 
 
COMPANY INFORMATION


Director
D J English 




Company secretary
Mrs L Smith



Registered number
01242374



Registered office
71 New Dover Road

Canterbury

Kent

CT1 3DZ




Principal place of business 
DRS House
HIgh Street

St Margaret's-at-cliffe

Dover

Kent

CT15 6AX






Accountants
MHA MacIntyre Hudson
Chartered Accountants

71 New Dover Road

Canterbury

Kent

CT1 3DZ





 
DESIGNRITE SHOPFITTERS LIMITED
 

CONTENTS



Page
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 8


 
DESIGNRITE SHOPFITTERS LIMITED
REGISTERED NUMBER: 01242374

BALANCE SHEET
AS AT 31 JANUARY 2018

2018
2017
Note
£
£

Fixed assets
  

Tangible assets
 4 
767
1,151

  
767
1,151

Current assets
  

Debtors: amounts falling due within one year
 5 
985
65,155

Cash at bank and in hand
  
46,341
31,128

  
47,326
96,283

Creditors: amounts falling due within one year
 6 
(13,959)
(12,012)

Net current assets
  
 
 
33,367
 
 
84,271

Total assets less current liabilities
  
34,134
85,422

Provisions for liabilities
  

Deferred tax
 7 
(146)
(230)

  
 
 
(146)
 
 
(230)

Net assets
  
33,988
85,192


Capital and reserves
  

Called up share capital 
 8 
2
2

Profit and loss account
 9 
33,986
85,190

  
33,988
85,192


The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 July 2018.


Page 1

 
DESIGNRITE SHOPFITTERS LIMITED
REGISTERED NUMBER: 01242374
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2018


D J English
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
DESIGNRITE SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018

1.


General information

Designrite Shopfitters Limited is a private limited company incorporated in England and Wales in the United Kingdom, registration number 01242374. The address of the registered office and principal place of business is provided in the company information page of these financial statements. 
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company accounting policies (see note 3).



The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

Page 3

 
DESIGNRITE SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
DESIGNRITE SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25% Straight Line
Improvements To Property
-
7.5% Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.7

Debtors

Short term debtors are measured at transaction price, less and impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 5

 
DESIGNRITE SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

No signifcant judgements have been made by management in preparing these financial statements.


4.


Tangible fixed assets





Office equipment
Other Fixed Assets
Total

£
£
£



Cost or valuation


At 1 February 2017
1,535
5,163
6,698



At 31 January 2018

1,535
5,163
6,698



Depreciation


At 1 February 2017
384
5,163
5,547


Charge for the year on owned assets
384
-
384



At 31 January 2018

768
5,163
5,931



Net book value



At 31 January 2018
767
-
767



At 31 January 2017
1,151
-
1,151

Page 6

 
DESIGNRITE SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018

5.


Debtors

2018
2017
£
£


Trade debtors
-
63,811

Other debtors
-
493

Prepayments and accrued income
985
851

985
65,155



6.


Creditors: Amounts falling due within one year

2018
2017
£
£

Payments received on account
2,000
2,000

Trade creditors
1,269
634

Corporation tax
3,325
2,690

Other taxation and social security
4,457
-

Other creditors
508
4,288

Accruals and deferred income
2,400
2,400

13,959
12,012



7.


Deferred taxation




2018


£






At beginning of year
(230)


Charged to profit or loss
84



At end of year
(146)

The provision for deferred taxation is made up as follows:

2018
2017
£
£


Accelerated capital allowances
(146)
(230)

(146)
(230)

Page 7

 
DESIGNRITE SHOPFITTERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018

8.


Share capital

2018
2017
£
£
Allotted, called up and fully paid



2 Ordinary shares of £1 each
2
2


9.


Reserves

Profit and loss account

This represents accumulated historic profits available for distribution. 


10.


Related party transactions

During the year the company paid rent to the director of £12,000 (2017:£12,000)
The following loans and repayments to the director, D.J English, subsisted during the year:-


2018
2016
£
£

Balance owed to company at start of year
(4,288)
2,238
Loan to director
12,030
6,607
Repayments to company
(8,250)
(13,183)
Interest on outstanding amounts
-
50
(508)
(4,288)


11.


Controlling party

The ultimate controlling party is D.J English. 

 
Page 8