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Registration number: 08309874

Tessellate Design Studio Ltd

trading as Tessellate Design Studio

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Tessellate Design Studio Ltd
trading as Tessellate Design Studio

Contents


 

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Tessellate Design Studio Ltd
trading as Tessellate Design Studio

Registration number: 08309874

Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

1,774

4,037

 

1,775

4,038

Current assets

 

Debtors

6

98,128

68,491

Cash at bank and in hand

 

111,916

143,328

 

210,044

211,819

Creditors: Amounts falling due within one year

7

(62,760)

(58,435)

Net current assets

 

147,284

153,384

Total assets less current liabilities

 

149,059

157,422

Provisions for liabilities

(444)

(767)

Net assets

 

148,615

156,655

Capital and reserves

 

Called up share capital

8

300

300

Retained earnings

148,315

156,355

Shareholders' funds

 

148,615

156,655



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

 

Tessellate Design Studio Ltd
trading as Tessellate Design Studio

Registration number: 08309874

Balance Sheet as at 30 November 2023 (continued)

For the financial year ending 30 November 2023 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 August 2024 and signed on its behalf by:
 

D M Hills
Director

   
     

 

Tessellate Design Studio Ltd
trading as Tessellate Design Studio

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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:
18 Bellomonte Crescent
Drayton
Norwich
Norfolk
NR8 6EJ

The principal place of business is:
13-15 St Georges St
Norwich
Norfolk
NR3 1AB
England

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 £.

 

Tessellate Design Studio Ltd
trading as Tessellate Design Studio

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (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.

Government grants

Government grants in relation to tangible fixed assets are credit to profit and loss account over the useful lives of the related assets, Government grants in relation to expenditure are are credited when the expenditure is charged to profit and loss.

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 balance sheet 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.

 

Tessellate Design Studio Ltd
trading as Tessellate Design Studio

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

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

Fixtures, fittings and equipment

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

 

Tessellate Design Studio Ltd
trading as Tessellate Design Studio

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2022

10,000

10,000

At 30 November 2023

10,000

10,000

Amortisation

At 1 December 2022

9,999

9,999

At 30 November 2023

9,999

9,999

Carrying amount

At 30 November 2023

1

1

At 30 November 2022

1

1

 

Tessellate Design Studio Ltd
trading as Tessellate Design Studio

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

5,484

31,588

37,072

Additions

-

437

437

Disposals

-

(332)

(332)

At 30 November 2023

5,484

31,693

37,177

Depreciation

At 1 December 2022

4,388

28,647

33,035

Charge for the year

1,096

1,421

2,517

Eliminated on disposal

-

(149)

(149)

At 30 November 2023

5,484

29,919

35,403

Carrying amount

At 30 November 2023

-

1,774

1,774

At 30 November 2022

1,096

2,941

4,037

Included within the net book value of land and buildings above is nil (2022 - £1,096) in respect of freehold land and buildings.
 

6

Debtors

 

Tessellate Design Studio Ltd
trading as Tessellate Design Studio

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

6

Debtors (continued)

Current

2023
£

2022
£

Trade debtors

94,286

64,965

Prepayments

631

315

Other debtors

3,211

3,211

 

98,128

68,491

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

954

318

Directors loan account

31,315

25,422

Taxation and social security

 

26,284

29,092

Other creditors

 

4,207

3,603

 

62,760

58,435

 

Tessellate Design Studio Ltd
trading as Tessellate Design Studio

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

300

300

300

300