2022-09-012023-08-312023-08-31false09723888TIM RUNDLE STUDIO 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TIM RUNDLE STUDIO LIMITED

Registered Number
09723888
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

TIM RUNDLE STUDIO LIMITED
Company Information
for the year from 1 September 2022 to 31 August 2023

Director

Timothy Graham Rundle

Registered Address

86-90 Paul Street
London
EC2A 4NE

Registered Number

09723888 (England and Wales)
TIM RUNDLE STUDIO LIMITED
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets7-8,469
-8,469
Current assets
Debtors2052,969
Cash at bank and on hand6,39966,259
6,60469,228
Creditors amounts falling due within one year9(6,442)(23,643)
Net current assets (liabilities)16245,585
Total assets less current liabilities16254,054
Net assets16254,054
Capital and reserves
Called up share capital11
Profit and loss account16154,053
Shareholders' funds16254,054
The financial statements were approved and authorised for issue by the Director on 13 October 2023, and are signed on its behalf by:
Timothy Graham Rundle
Director
Registered Company No. 09723888
TIM RUNDLE STUDIO LIMITED
Notes to the Financial Statements
for the year ended 31 August 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principle activity of the company is the provision of industrial design consultancy services.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
6.Employee information

20232022
Average number of employees during the year11
7.Property, plant and equipment

Total

£
Cost or valuation
At 01 September 2213,335
Additions3,258
Disposals(16,593)
Depreciation and impairment
At 01 September 224,867
Charge for year475
On disposals(5,342)
Net book value
At 31 August 23-
At 31 August 228,469
8.Description of nature of transactions and balances with related parties
Director's loan balance owed by the company to the director was £3,930, this is on a non-fixed repayment period at 0% interest.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables120-
Bank borrowings and overdrafts39-
Taxation and social security4,84421,913
Accrued liabilities and deferred income1,4391,730
Total6,44223,643
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.