The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

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

Page 1

Designaweigh Limited

Registration number: 05162817

Balance Sheet as at 30 June 2017 (continued)

For the financial year ending 30 June 2017 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 March 2018 and signed on its behalf by:
 

A S Bartle

Director

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

Page 2

Designaweigh Limited

Notes to the Financial Statements for the Year Ended 30 June 2017

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wymondham Business Centre
1 Town Green
Wymondham
Norfolk
NR18 0PN
England

The principal place of business is:
1 Chestnut Cottage
Bunwell Road Spooner Row
Wymondham
Norfolk
NR18 9LH

2	Accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Page 3

Designaweigh Limited

Notes to the Financial Statements for the Year Ended 30 June 2017 (continued)

2	Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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.

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:

Asset class	Depreciation method and rate
Equipment	20% reducing balance

Page 4

Designaweigh Limited

Notes to the Financial Statements for the Year Ended 30 June 2017 (continued)

2	Accounting policies (continued)

Goodwill

Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. Under FRS 102 the period for writing off goodwill with no definitive useful life is 10 years and this will be applied from 1 April 2016. This is a change from the 20 years previously used under FRS10. No retrospective adjustment has been made in respect of this change to accounting estimate. Provision is made for any impairment.

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:

Asset class	Amortisation method and rate
Goodwill	10% straight line

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2016 - 2).

Page 5

Designaweigh Limited

Notes to the Financial Statements for the Year Ended 30 June 2017 (continued)

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 July 2016	8,000	8,000
At 30 June 2017	8,000	8,000
Amortisation
At 1 July 2016	4,400	4,400
Amortisation charge	800	800
At 30 June 2017	5,200	5,200
Carrying amount
At 30 June 2017	2,800	2,800
At 30 June 2016	3,600	3,600

Page 6

Designaweigh Limited

Notes to the Financial Statements for the Year Ended 30 June 2017 (continued)

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 July 2016	1,991	1,991
Additions	499	499
Disposals	(198)	(198)
At 30 June 2017	2,292	2,292
Depreciation
At 1 July 2016	751	751
Charge for the year	316	316
Eliminated on disposal	(40)	(40)
At 30 June 2017	1,027	1,027
Carrying amount
At 30 June 2017	1,265	1,265
At 30 June 2016	1,241	1,241

6

Debtors

	2017 £	2016 £
Trade debtors	37,584	5,316
Other debtors	12,899	12,078
Total current trade and other debtors	50,483	17,394

Page 7

Designaweigh Limited

Notes to the Financial Statements for the Year Ended 30 June 2017 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Trade creditors		5,391	-
Director's loan account		12,591	386
Taxation and social security		15,878	12,260
Other creditors		1,729	9,781
		35,589	22,427