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REGISTERED NUMBER: 08268312












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Turkington Design Studio Limited

Turkington Design Studio Limited (Registered number: 08268312)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Turkington Design Studio Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M A Martin
I. Turkington
T P Spain





REGISTERED OFFICE: 2 Castle Business Village
Station Road
Hampton
Middlesex
TW12 2BX





REGISTERED NUMBER: 08268312





ACCOUNTANTS: PB Associates
Chartered Accountants and Chartered Tax Advisers
2 Castle Business Village
Station Road
Hampton
Middlesex
TW12 2BX

Turkington Design Studio Limited (Registered number: 08268312)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 12,066 10,740

CURRENT ASSETS
Debtors 4 379,485 313,208
Cash at bank 213,819 308,595
593,304 621,803
CREDITORS
Amounts falling due within one year 5 221,664 247,782
NET CURRENT ASSETS 371,640 374,021
TOTAL ASSETS LESS CURRENT
LIABILITIES

383,706

384,761

CREDITORS
Amounts falling due after more than one
year

6

10,816

42,904
NET ASSETS 372,890 341,857

CAPITAL AND RESERVES
Called up share capital 7 300 300
Share premium 8 3,566 3,566
Retained earnings 8 369,024 337,991
SHAREHOLDERS' FUNDS 372,890 341,857

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Turkington Design Studio Limited (Registered number: 08268312)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:





I. Turkington - Director


Turkington Design Studio Limited (Registered number: 08268312)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

Turkington Design Studio Limited (Registered number: 08268312)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 105,784
Additions 5,348
At 31 December 2023 111,132
DEPRECIATION
At 1 January 2023 95,044
Charge for year 4,022
At 31 December 2023 99,066
NET BOOK VALUE
At 31 December 2023 12,066
At 31 December 2022 10,740

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 374,125 310,419
Other debtors 5,360 2,789
379,485 313,208

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 44,118 37,367
Taxation and social security 169,484 196,249
Other creditors 8,062 14,166
221,664 247,782

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 10,813 42,901
Other creditors 3 3
10,816 42,904

Other creditors includes three £1 redeemable preference shares that were issued on 8 April 2020.

Turkington Design Studio Limited (Registered number: 08268312)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
30,000 Ordinary 0.01 300 300

8. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2023 337,991 3,566 341,557
Profit for the year 182,199 182,199
Payments to employee share
trust (151,166 ) - (151,166 )
At 31 December 2023 369,024 3,566 372,590

9. RELATED PARTY DISCLOSURES

The company was under the control of The Turkington Martin Employee Share Ownership Trust.

During the year payments to the Employee Share Ownership Trust amounted to £151,166.

10. EMPLOYEE SHARE OWNERSHIP

The entire share capital of the company is owned by Turkington Martin Trustees Limited on behalf of The Turkington Martin Share Ownership Trust.The trust holds the shares in perpetuity for the benefit of current and future employees of the company. No individual employee owns or will own directly any shares in the company.

The Company funds the trust out of future distributable profits (taking account of working capital
requirements) to enable the trust to discharge its liability in respect of the acquisition of the company.

It is considered that the company does not have de facto control of the trust and therefore the assets and liabilities of the trust are not included in the company's financial statements. The payments to the trust are therefore considered to be immediate expenses and are written off to retained profits.