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REGISTERED NUMBER: 12964507 (England and Wales)











































Tweedside Design Co. Ltd

Unaudited Financial Statements

for the period

1st November 2022 to 30th October 2023






Tweedside Design Co. Ltd (Registered number: 12964507)






Contents of the Financial Statements
for the period 1st November 2022 to 30th October 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3 to 5


Tweedside Design Co. Ltd

Company Information
for the period 1st November 2022 to 30th October 2023







Director: L H Robinson





Registered office: Chapel House
Haggerston
Berwick upon Tweed
TD15 2NZ





Registered number: 12964507 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Tweedside Design Co. Ltd (Registered number: 12964507)

Balance Sheet
30th October 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 12,793 13,217

Current assets
Stocks 38,475 30,000
Debtors 5 7,919 5,262
Cash at bank 6,978 17,094
53,372 52,356
Creditors
Amounts falling due within one year 6 81,681 69,932
Net current liabilities (28,309 ) (17,576 )
Total assets less current liabilities (15,516 ) (4,359 )

Capital and reserves
Called up share capital 1 1
Retained earnings (15,517 ) (4,360 )
(15,516 ) (4,359 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th October 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23rd October 2024 and were signed by:





L H Robinson - Director


Tweedside Design Co. Ltd (Registered number: 12964507)

Notes to the Financial Statements
for the period 1st November 2022 to 30th October 2023

1. Statutory information

Tweedside Design Co. Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Office equipment - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade creditors, directors loans and accruals.

Trade creditors, directors loans and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Tweedside Design Co. Ltd (Registered number: 12964507)

Notes to the Financial Statements - continued
for the period 1st November 2022 to 30th October 2023

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The company has a deficit on the balance sheet and relies on the support of its shareholder and also being able to come to an agreement with its creditors. Shareholder support has been confirmed for a period of at least twelve months from the approval of the financial statements. The director is currently taking advice on certain liabilities and plans to make a final decision on the future of the company in the early part of 2025, once the busy festive period is over. The director also continues to restructure company operations, with a view to reducing costs. Accordingly the director has prepared the financial statements on the going concern basis.

3. Employees and directors

The average number of employees during the period was 4 (2022 - 5 ) .

4. Tangible fixed assets
Plant and Office
machinery equipment Totals
£    £    £   
Cost
At 1st November 2022 16,240 1,380 17,620
Additions 2,290 1,382 3,672
At 30th October 2023 18,530 2,762 21,292
Depreciation
At 1st November 2022 4,059 344 4,403
Charge for period 3,617 479 4,096
At 30th October 2023 7,676 823 8,499
Net book value
At 30th October 2023 10,854 1,939 12,793
At 31st October 2022 12,181 1,036 13,217

Tweedside Design Co. Ltd (Registered number: 12964507)

Notes to the Financial Statements - continued
for the period 1st November 2022 to 30th October 2023

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 7,919 5,262

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 2,160 -
Taxation and social security 75,639 64,250
Other creditors 3,882 5,682
81,681 69,932

7. Director's advances, credits and guarantees

The following advances and credits to directors subsisted during the year ended 31 October 2022 and 30 October 2023:

20232022
££
Director 1
Balance outstanding at start of year--
Amounts advanced2,657-
Amounts repaid--
Balance outstanding at end of year2,657-

This loan is unsecured and repayable on demand. No interest has
been charged as the loans are below the HMRC reporting level.