Turkington Design Studio Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08268312

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Turkington Design Studio Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Tangible assets

3

21,271

12,066

CURRENT ASSETS

Debtors

4

317,355

379,485

Cash at bank and in hand

200,508

213,819

517,863

593,304

CREDITORS

Amounts falling due within one year

5

185,759

221,664

NET CURRENT ASSETS

332,104

371,640

TOTAL ASSETS LESS CURRENT
LIABILITIES

353,375

383,706

CREDITORS

Amounts falling due after more than one
year

6

8,891

10,816

NET ASSETS

344,484

372,890

CAPITAL AND RESERVES

Called up share capital

7

300

Share premium

8

3,566

Retained earnings

8

340,618

369,024

SHAREHOLDERS' FUNDS

344,484

372,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 9 September 2025 and were signed on its behalf by:

I. Turkington - Director

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 18 (2023 - 15 ) .

3.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

111,132

Additions

16,295

At 31 December 2024

127,427

DEPRECIATION

At 1 January 2024

99,066

Charge for year

7,090

At 31 December 2024

106,156

NET BOOK VALUE

At 31 December 2024

21,271

At 31 December 2023

12,066

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

295,663

374,125

Other debtors

21,692

5,360

317,355

379,485

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

19,590

44,118

Taxation and social security

145,082

169,484

Other creditors

21,087

8,062

185,759

221,664

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31.12.24

31.12.23

£

Bank loans

8,888

10,813

Other creditors

3

8,891

10,816

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

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

30,000

Ordinary

0.01

300

8.

RESERVES

Retained

Share

earnings

premium

Totals

£

At 1 January 2024

369,024

3,566

372,590

Profit for the year

594

Payments to employee share

trust

(29,000

)

-

(29,000

)

At 31 December 2024

340,618

3,566

344,184

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 £29,000.

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.