Tibbalds Planning and Urban Design Limited

Contents

Company Information	1
Directors' Report	2 to 3
Statement of Financial Position	4
Notes to the Financial Statements	5 to 10

Tibbalds Planning and Urban Design Limited

Company Information

Directors

H A Satchwell K N Stille E N Le Mare

Registered office

30 King's Bench Street London SE1 0QX

Auditor

Brebners Chartered Accountants & Statutory Auditor 130 Shaftesbury Avenue W1D 5AR

Tibbalds Planning and Urban Design Limited

Directors' Report for the Year Ended 31 March 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Directors of the company

The directors who held office during the year were as follows:

H A Satchwell

K N Stille

E N Le Mare

Fair review of the business

Tibbalds Planning and Urban Design is a planning and urban design consultancy based in London mainly conducting business in the United Kingdom. The company is majority owned by an Employee Ownership Trust.

Company performance and development

Trading remained reasonably strong during the financial year and the directors continue to work towards the delivery of a five-year business vision agreed early in 2022. Business strategy targets are reviewed, set and implemented annually.

The company returned a profit in line with set targets as forecast in last year’s financial statements. The overall drop in turnover was attributable to a fall in sub-consultant income, with Tibbalds only income (gross profit) and average staff numbers showing a modest increase on the prior year.

Orders remained steady through the year even in the light of uncertainty in the wider economy and industry wide challenges. We continue to carefully manage costs, project efficiency and have in place an efficient management structure. We continue to invest in new systems to support project and financial efficiency.
 

Key performance indicators

Gross profit for the year ending 31 March 2025 increased by 6.9% on the prior year with administrative expenses remaining similar leading to a profit after tax of £121,933 (2024: £157,668) over the reporting period. Our operating profit was 6.7% (2024: 5.6%) with a 5.2% (2024: 5.3%) profit after tax. Our profit margin excluding sub-consultants was 8.9%.

Working capital at 31 March 2025 was £814,086 (2024: £688,765) with a current ratio of 2.57 (2024: 1.78). Taking business type, operational cycle, growth plans and overhead levels into account, working capital reliably meets the operational needs of the company.

The company meets its day to day working capital requirements through a combination of existing resources and normal trading terms without relying on support from external borrowings or overdraft facilities.
 

Tibbalds Planning and Urban Design Limited

Directors' Report for the Year Ended 31 March 2025

Future outlook

The company has a steady stream of tendering opportunities and direct appointments and the company has continued to win a number of projects across varied sectors and client types as well as extending existing commissions. Costs continue to be tightly managed whilst continuing to invest in the business to enable our strategic objectives.

The directors have prepared forecasts and budgets based on minimum maintainable targets for the year ending 31 March 2026 and consider the financial position of the company for a period of at least 12 months from the approval of the financial statements.
 

Directors' indemnities

As permitted by the Articles of Association, the Directors have the benefit of an indemnity which is a qualifying third party indemnity provision as defined by Section 234 of the Companies Act 2006. The indemnity was in force throughout the last financial year and is currently in force.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 18 September 2025 and signed on its behalf by:




 

.........................................
H A Satchwell
Director

Tibbalds Planning and Urban Design Limited

Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	5	9,405	14,108
Tangible assets	6	21,352	19,629
		30,757	33,737
Current assets
Debtors	7	797,692	854,561
Cash at bank and in hand		534,344	717,530
		1,332,036	1,572,091
Creditors: Amounts falling due within one year	8	(517,950)	(883,326)
Net current assets		814,086	688,765
Total assets less current liabilities		844,843	722,502
Provisions for liabilities		(4,470)	(4,062)
Net assets		840,373	718,440
Capital and reserves
Called up share capital		28,227	28,227
Share premium reserve		93,734	93,734
Other reserves		(27,850)	(27,850)
Retained earnings		746,262	624,329
Shareholders' funds		840,373	718,440

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Tibbalds Planning and Urban Design Limited have elected not to include a copy of the profit and loss account within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the Board on 18 September 2025 and signed on its behalf by:
 

.........................................

H A Satchwell

Director

Company registration number: 04877097

Tibbalds Planning and Urban Design Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
30 King's Bench Street
London
SE1 0QX

The principal activity of the company is that of planning and urban design services.

2	Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 22 September 2025 was Martin Widdowson, who signed for and on behalf of Brebners.

3	Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The statement of financial position at 31 March 2025 showed net assets of £840,373, including cash at bank of £534,334.

The company has appropriate financial resources together with a broad range of contracts with customers across industry sectors. As a consequence, the directors believe that the company is well placed to manage its business risks successfully, despite the current uncertainties in the wider economic outlook.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Tibbalds Planning and Urban Design Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	3 years straight line
Office furniture and equipment	1 - 5 years straight line

Tibbalds Planning and Urban Design Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Intangible assets

Intangible assets acquired separately are initially measured at cost and are subsequently stated at cost less any accumulated amortisation and impairment losses. Intangible assets acquired separately, are recognised if, and only if, all of the following criteria are met:

• It is technically feasible to complete the intangible asset so that it will be available for use or sale;
• There is the intention to complete the intangible asset and use or sell it;
• There is the ability to use or sell the intangible asset;
• The use or sale of the intangible asset will generate probable future economic benefits;
• There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and
• The expenditure attributable to the intangible asset during its development can be measured reliably.

Expenditure that does not meet the above criteria is expensed as incurred.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life, as follows. Amortisation is provided from the point at which the intangible assets are brought into useful economic life and start to generate revenue.

Asset class	Amortisation method and rate
Computer software	3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Finance leases and hire purchase

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

The Tibbalds Employee Ownership Trust (EOT) holds 85% of the company's share capital in trust for the benefit of the employees of Tibbalds (present and future). To date the EOT has waived all rights to dividends to fund an employee bonus distribution. What would have been their share of any dividend is therefore recognised in the income statement as an expense within the period in which it is paid out to eligible employees in the form of bonuses.

Dividend distribution to the company's remaining shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Tibbalds Planning and Urban Design Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities. Amounts recoverable under contracts are recognised based on the stage of completion of the contract at the end of the reporting period. Amounts calculated by reference to time spent are recognised as incurred.

4	Staff numbers

The average number of persons employed by the company during the year, was 28 (2024 - 26).

Tibbalds Planning and Urban Design Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

5	Intangible assets

	Software development  £	Total £
Cost or valuation
At 1 April 2024	14,108	14,108
At 31 March 2025	14,108	14,108
Amortisation
Amortisation charge	4,703	4,703
At 31 March 2025	4,703	4,703
Carrying amount
At 31 March 2025	9,405	9,405
At 31 March 2024	14,108	14,108

6	Tangible assets

	Computer equipment £	Office furniture and equipment £	Total £
Cost or valuation
At 1 April 2024	138,617	21,252	159,869
Additions	18,074	-	18,074
Disposals	(6,301)	-	(6,301)
At 31 March 2025	150,390	21,252	171,642
Depreciation
At 1 April 2024	120,348	19,892	140,240
Charge for the year	15,807	544	16,351
Eliminated on disposal	(6,301)	-	(6,301)
At 31 March 2025	129,854	20,436	150,290
Carrying amount
At 31 March 2025	20,536	816	21,352
At 31 March 2024	18,269	1,360	19,629

Tibbalds Planning and Urban Design Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

7

Debtors

	2025 £	2024 £
Trade debtors	406,967	597,380
Other debtors	390,725	257,181
	797,692	854,561

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Trade creditors	125,213	258,688
Taxation and social security	151,219	169,383
Accruals and deferred income	180,941	251,238
Other creditors	60,577	204,017
	517,950	883,326