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Registered Number: 10378377
England and Wales

 

 

 

THEON DESIGN LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 06 October 2022

End date: 05 October 2023
Directors Adam Hawley
Lucinda Hawley
Registered Number 10378377
Registered Office Becket House
Spring Terrace
Abingdon
Oxfordshire
OX14 1AP
Accountants Cypher
Monkswell
Little Baldon
Oxford
OX44 9PU
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 32,285    51,076 
32,285    51,076 
Current assets      
Stocks 5 228,315    157,520 
Debtors 6 269,441    511,779 
Cash at bank and in hand 5,540    3,961 
503,296    673,260 
Creditors: amount falling due within one year 7 (205,392)   (295,254)
Net current assets 297,904    378,006 
 
Total assets less current liabilities 330,189    429,082 
Creditors: amount falling due after more than one year 8 (17,375)   (27,460)
Accruals and deferred income (270,003)   (339,502)
Provisions for liabilities 9   (47)
Net assets 42,811    62,073 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 42,809    62,071 
Shareholders' funds 42,811    62,073 
 


For the year ended 05 October 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 04 October 2024 and were signed on its behalf by:


-------------------------------
Adam Hawley
Director
2
General Information
Theon Design Limited is a private company, limited by shares, registered in England and Wales, registration number 10378377, registration address Becket House, Spring Terrace, Abingdon, Oxfordshire, OX14 1AP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
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
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.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
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 5 Years Straight Line
Fixtures and Fittings 3 Years Straight Line
Computer Equipment 3 Years Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
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.

Average number of employees

Average number of employees during the year was 6 (2022 : 6).
3.

Intangible fixed assets

Cost Research and Development   Total
  £   £
At 06 October 2022 32,106    32,106 
Additions  
Disposals  
At 05 October 2023 32,106    32,106 
Amortisation
At 06 October 2022 32,106    32,106 
Charge for year  
On disposals  
At 05 October 2023 32,106    32,106 
Net book values
At 05 October 2023  
At 05 October 2022  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 06 October 2022 103,862    3,937    1,892    109,691 
Additions   4,143      4,143 
Disposals      
At 05 October 2023 103,862    8,080    1,892    113,834 
Depreciation
At 06 October 2022 54,347    2,376    1,892    58,615 
Charge for year 20,773    2,161      22,934 
On disposals      
At 05 October 2023 75,120    4,537    1,892    81,549 
Net book values
Closing balance as at 05 October 2023 28,742    3,543      32,285 
Opening balance as at 06 October 2022 49,515    1,561      51,076 


5.

Stocks

2023
£
  2022
£
Work in Progress 106,315    84,520 
Stocks 122,000    73,000 
228,315    157,520 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 254,183    482,575 
Prepayments & Accrued Income 12,258    3,404 
Accrued Income   20,000 
Other Debtors 3,000    5,800 
269,441    511,779 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 76,465    142,484 
Bank Loans & Overdrafts 10,085    9,830 
Corporation Tax 29,838    56,620 
PAYE & Social Security 7,981    4,170 
Accrued Expenses 18,418    745 
Other Creditors 1   
Directors' Current Accounts 944    7,339 
VAT 61,660    74,066 
205,392    295,254 

8.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 17,375    27,460 
17,375    27,460 

9.

Provisions for liabilities

2023
£
  2022
£
Pension Provisions   47 
  47 

3