ACCOUNTS - Final Accounts preparation



	21st Century Design Management Ltd












	Unaudited
	Financial statements

	For the year ended 31 December 2024

	Registered number: 10490495


21st Century Design Management Ltd - Registered number: 10490495

Statement of financial position

As at 31 December 2024

	2024	2024	2023	2023
Note	£	£	£	£

Fixed assets
Tangible assets			1,941		2,220
Investments			248,261		316,500
			250,202		318,720
Current assets
Debtors: amounts falling due within one year	6	60,802		338,212
Cash at bank and in hand		96,702		639,064
		157,504		977,276
Creditors: amounts falling due within one year	7	(231,993)		(1,085,643)
Net current liabilities			(74,489)		(108,367)
Total assets less current liabilities			175,713		210,353

Net assets			175,713		210,353

Capital and reserves
Share capital	100	100
Profit and loss account	175,613	210,253
	175,713	210,353

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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21st Century Design Management Ltd - Registered number: 10490495

Statement of financial position (continued)

As at 31 December 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P M Sheehan

Director

Date: 12 September 2025

The notes on pages 3 to 7 form part of these financial statements.

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21st Century Design Management Ltd

Notes to the financial statements

For the year ended 31 December 2024

1.	General information

21st Century Design Management Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business is 78 York Street, London, United Kingdom, W1H 1DP. The company registration number is 10490495.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS102') and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

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21st Century Design Management Ltd

Notes to the financial statements

For the year ended 31 December 2024

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

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21st Century Design Management Ltd

Notes to the financial statements

For the year ended 31 December 2024

2.Accounting policies (continued)

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery

4 years.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

Valuation of investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.11

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third
parties, loans to related parties and investments in ordinary shares.

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21st Century Design Management Ltd

Notes to the financial statements

For the year ended 31 December 2024

2.Accounting policies (continued)

2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 -2).

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 January 2024	11,821
	At 31 December 2024	11,821
	Depreciation
	At 1 January 2024	9,601
	Charge for the year on owned assets	279
	At 31 December 2024	9,880
	Net book value
	At 31 December 2024	1,941
	At 31 December 2023	2,220

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21st Century Design Management Ltd

Notes to the financial statements

For the year ended 31 December 2024

5.	Fixed asset investments

		Investments
		£
	Cost or valuation
	At 1 January 2024	316,500
	Additions	3,857
	Disposals	(66,643)
	Revaluations	(5,453)
	At 31 December 2024	248,261

Debtors

					2024	2023
					£	£


Trade debtors	60,802	338,212
	60,802	338,212

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Corporation tax	47,950	177,866
Other taxation and social security	65,957	113,184
Other creditors	111,486	788,268
Accruals and deferred income	6,600	6,325
	231,993	1,085,643

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