Company Registration No. 06939100 (England and Wales)
THIRD SECTOR DESIGN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
THIRD SECTOR DESIGN LIMITED
COMPANY INFORMATION
Directors
Mr M McAndrew
Mrs J M C McAndrew
Company number
06939100
Registered office
2 Bell Meadow
Bickleigh
Tiverton
Devon
EX16 8RE
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
THIRD SECTOR DESIGN LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
THIRD SECTOR DESIGN LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,680
1,952
Current assets
Debtors
4
42,099
28,815
Cash at bank and in hand
88,642
53,318
130,741
82,133
Creditors: amounts falling due within one year
5
(38,109)
(33,228)
Net current assets
92,632
48,905
Total assets less current liabilities
94,312
50,857
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
94,310
50,855
Total equity
94,312
50,857

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the board of directors and authorised for issue on 23 October 2024 and are signed on its behalf by:
Mr M McAndrew
Director
Company Registration No. 06939100
THIRD SECTOR DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Third Sector Design Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Turnover

Turnover represents the total invoice value of sales made during the year.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% Reducing balance
Fixtures, fittings & equipment
25% Reducing balance
Computer equipment
3 Years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.5
Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

THIRD SECTOR DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 5 (2023 - 5).

3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 July 2023
770
1,864
17,231
19,865
Additions
-
0
904
647
1,551
At 30 June 2024
770
2,768
17,878
21,416
Depreciation and impairment
At 1 July 2023
754
1,116
16,043
17,913
Depreciation charged in the year
6
413
1,404
1,823
At 30 June 2024
760
1,529
17,447
19,736
Carrying amount
At 30 June 2024
10
1,239
431
1,680
At 30 June 2023
16
748
1,188
1,952
THIRD SECTOR DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
41,374
28,815
Prepayments and accrued income
725
-
0
42,099
28,815
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
922
1,378
Corporation tax
16,996
17,329
Other taxation and social security
17,376
12,263
Other creditors
1,302
1,045
Accruals and deferred income
1,513
1,213
38,109
33,228
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary share of £1 each
2
2
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