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Registered Number: 04768672


 

 

 

TRANSFORM DESIGNS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 June 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Positive Payroll Limited
30 June 2023



....................................................
Positive Payroll Limited
Suite 10 Old Marsh Farm Barns
Welsh Road
Deeside
Flintshire
20 October 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 569    1,365 
569    1,365 
Current assets      
Stocks 16,708    7,016 
Debtors: amounts falling due within one year 26,429    35,533 
Cash at bank and in hand 114,471    120,756 
157,608    163,305 
Creditors: amount falling due within one year (53,653)   (93,936)
Net current assets 103,955    69,369 
 
Total assets less current liabilities 104,524    70,734 
Creditors: amount falling due after more than one year (30,663)   (40,366)
Provisions for liabilities (195)   (259)
Net assets 73,666    30,109 
 

Capital and reserves
     
Called up share capital 5 4    4 
Profit and loss account 73,662    30,105 
Shareholder's funds 73,666    30,109 
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 20 October 2023 and were signed on its behalf by:


-------------------------------
Jonathan Milton
Director
2
General Information
TRANSFORM DESIGNS LIMITED is a private company, limited by shares, registered in , registration number 04768672, registration address 46 Colwyn Road, Bramhall Stockport, SK7 2JQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred. 
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Staff Costs

2023
£
  2022
£
Wages and salaries 23,079    21,936 
Social security costs 10    475 
Pension costs, defined contribution plan 50,500    6,000 
Other staff costs 567   
74,156    28,411 
 
Average number of employees during the year Number   Number
Administration 1    1 
Sales 1    1 
 

3.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 July 2022 3,034    7,518    10,552 
Additions    
Disposals    
At 30 June 2023 3,034    7,518    10,552 
Depreciation
At 01 July 2022 2,270    6,917    9,187 
Charge for year 445    351    796 
On disposals    
At 30 June 2023 2,715    7,268    9,983 
Net book values
Closing balance as at 30 June 2023 319    250    569 
Opening balance as at 01 July 2022 764    601    1,365 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
4 Class A shares of £1.00 each  
 

3