Company Registration No. 00977923 (England and Wales)
DESIGN HOUSE CONSULTANTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
PAGES FOR FILING WITH REGISTRAR
DESIGN HOUSE CONSULTANTS LIMITED
COMPANY INFORMATION
Director
Mrs L Culverhouse
Secretary
Mr P T Dobie
Company number
00977923
Registered office
7-15 Roseberry Avenue
London
EC1R 4SP
Accountants
Kirk Rice LLP
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
DESIGN HOUSE CONSULTANTS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
DESIGN HOUSE CONSULTANTS LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DESIGN HOUSE CONSULTANTS LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Design House Consultants Limited for the year ended 30 September 2019 which comprise the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Design House Consultants Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Design House Consultants Limited
and state those matters that we have agreed to state to the Board of Directors of Design House Consultants Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Design House Consultants Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Design House Consultants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and profit
of Design House Consultants Limited. You consider that Design House Consultants Limited is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Design House Consultants Limited. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kirk Rice LLP
30 September 2020
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
DESIGN HOUSE CONSULTANTS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2019
30 September 2019
- 2 -
2019
2018
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
3
108,879
14,406
Tangible assets
4
2,071
1,631
110,950
16,037
Current assets
Debtors
5
369,859
420,464
Cash at bank and in hand
-
2,648
369,859
423,112
Creditors: amounts falling due within one year
6
(279,314)
(217,172)
Net current assets
90,545
205,940
Total assets less current liabilities
201,495
221,977
Creditors: amounts falling due after more than one year
7
(14,072)
-
Net assets
187,423
221,977
Capital and reserves
Called up share capital
8
10,000
9,048
Share premium account
17,312
17,312
Capital redemption reserve
822
822
Profit and loss reserves
159,289
194,795
Total equity
187,423
221,977
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
DESIGN HOUSE CONSULTANTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2019
30 September 2019
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 30 September 2020
Mrs L Culverhouse
Director
Company Registration No. 00977923
DESIGN HOUSE CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 4 -
1
Accounting policies
Company information
Design House Consultants Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
7-15 Roseberry Avenue, London, EC1R 4SP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Turnover
Turnover represents the amounts recoverable for the services provided to clients under their contractual obligations.
Turnover is recognised by using the percentage of completion method of accounting for ongoing contracts. The percentage of completion used to determine the level of turnover recognised is based on the lower of two metrics applied to each individual contact; the direct labour cost to date as a percentage of total expected direct labour cost, or the weighted average percentage complete, calculated as the direct labour costs to date as a percentage of total expected direct labour cost by work stage.
Amounts invoiced in excess of income recognised are included within deferred income. Income recognised in excess of amounts invoiced is included within amounts recoverable on contracts.
When the contractual fee is agreed on an hourly rate basis, where fees earned are directly attributed to expended hours, turnover is recognised hen the service is provided.
1.3
Research and development expenditure
Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated
in the generation of core software.
1.4
Intangible fixed assets other than goodwill
Intangible assets
are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Development costs are recognised as an intangible asset when it can be demonstrated that the costs are incurred in generating software that can be utilised to generate future income.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Development costs
20% on cost
1.5
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
DESIGN HOUSE CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
1
Accounting policies
(Continued)
- 5 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on cost
Computers
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.6
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.7
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
1.9
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 11 (2018 - 9).
DESIGN HOUSE CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 6 -
3
Intangible fixed assets
Development costs
£
Cost
At 1 October 2018
18,007
Additions - separately acquired
122,593
At 30 September 2019
140,600
Amortisation and impairment
At 1 October 2018
3,601
Amortisation charged for the year
28,120
At 30 September 2019
31,721
Carrying amount
At 30 September 2019
108,879
At 30 September 2018
14,406
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 October 2018
127,565
196,977
324,542
Additions
-
1,312
1,312
At 30 September 2019
127,565
198,289
325,854
Depreciation and impairment
At 1 October 2018
127,565
195,346
322,911
Depreciation charged in the year
-
872
872
At 30 September 2019
127,565
196,218
323,783
Carrying amount
At 30 September 2019
-
2,071
2,071
At 30 September 2018
-
1,631
1,631
DESIGN HOUSE CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 7 -
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
186,386
142,457
Other debtors
183,473
278,007
369,859
420,464
6
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
12,877
39,998
Trade creditors
92,731
36,419
Corporation tax
37,733
81,685
Other taxation and social security
97,732
31,745
Other creditors
38,241
27,325
279,314
217,172
7
Creditors: amounts falling due after more than one year
2019
2018
£
£
Bank loans and overdrafts
14,072
-
8
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
10,000 (2018: 9,048) of £1 each
10,000
9,048
Reconciliation of movements during the year:
Ordinary
Number
At 1 October 2018
9,048
Bonus issue
952
At 30 September 2019
10,000
DESIGN HOUSE CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 8 -
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2019
2018
£
£
170,000
251,950
10
Directors' transactions
The loan is repayable on demand.
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mrs L Culverhouse -
3.00
145,074
154,416
(234,548)
64,942
145,074
154,416
(234,548)
64,942
11
Prior period adjustment
Reconciliation of changes in equity
30 September
2018
£
Adjustments to prior year
Total changes
20,437
Equity as previously reported
201,540
Equity as adjusted
221,977
Notes to reconciliation
Prior year adjustment
The directors have decided to change the accounting policy relating to capitalisation of research and development costs, which has resulted in the need for a prior year adjustment.
The adjustment resulted in a capitalisation of costs of £18,007 together with associated amortisation of £3,601 and the resulting adjustment to tax.of £6,031.
The net effect on shareholders' reserves as at 30 September 2018 is an increase of £20,437.
2019-09-30
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false
30 September 2020
CCH Software
CCH Accounts Production 2020.200
No description of principal activity
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