Registered number
10297165
Transformation Design Limited
Filleted Accounts
30 June 2024
Transformation Design Limited
Registered number: 10297165
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,797 4,208
Current assets
Stocks 40,563 34,267
Debtors 4 105,493 60,912
Cash at bank and in hand 4,520 29,467
150,576 124,646
Creditors: amounts falling due within one year 5 (148,803) (119,862)
Net current assets 1,773 4,784
Total assets less current liabilities 4,570 8,992
Creditors: amounts falling due after more than one year 6 (2,767) (7,612)
Provisions for liabilities (533) (822)
Net assets 1,270 558
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,170 458
Shareholders' funds 1,270 558
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M A Stala-Kettle
Director
Approved by the board on 2 May 2025
Transformation Design Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor van over 4 years
Tools and equipment over 5 years
Office equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Office equipment Tools and equipment Motor van Total
£ £ £ £
Cost
At 1 July 2023 2,193 6,358 8,683 17,234
Additions 225 154 2,495 2,874
Disposals - - (8,683) (8,683)
At 30 June 2024 2,418 6,512 2,495 11,425
Depreciation
At 1 July 2023 1,893 5,641 5,492 13,026
Charge for the year 146 324 624 1,094
On disposals - - (5,492) (5,492)
At 30 June 2024 2,039 5,965 624 8,628
Net book value
At 30 June 2024 379 547 1,871 2,797
At 30 June 2023 300 717 3,191 4,208
4 Debtors 2024 2023
£ £
Trade debtors 105,374 60,912
Other debtors 119 -
105,493 60,912
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,666 13,154
Trade creditors 32,164 35,756
Taxation and social security costs 106,261 67,550
Directors' current account 1,472 1,264
Accruals 2,240 2,138
148,803 119,862
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,767 7,612
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 2,473 11,806
The above bank loan of £2,473 is secured by a fixed and floating charge over the assets of the company. Directors have also provided personal guarantees for this loan. In addition, there is also a bounce back loan outstanding of £5,962 on 30.6.2024. This is guaranteed by the UK Government.
8 Other information
Transformation Design Limited is a private company limited by shares and incorporated in England. Its registered office is:
49 Bryon Road
West Bridgeford
Nottingham
NG2 6DY
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