Registration number: 08256007

Garuda Design Limited

(Registration number: 08256007)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	24,260	30,152
Current assets
Debtors	5	225,036	153,827
Cash at bank and in hand		197,578	371,655
		422,614	525,482
Creditors: due within one year	6	(161,578)	(217,393)
Net current assets		261,036	308,089
Net assets		285,296	338,241
Capital and reserves
Called up share capital	7	50	50
Capital redemption reserve		50	50
Retained earnings		285,196	338,141
Shareholders' funds		285,296	338,241

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Garuda Design Limited

(Registration number: 08256007)
Balance Sheet as at 31 December 2024

Approved and authorised by the director on 24 September 2025
 

......................................... Ms Suzanne Donnelly Director

Garuda Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is: Unit 16 The Mead Business Centre, Mead Lane, Hertford, Hertford, SG13 7BJ.

These financial statements were authorised for issue by the director on 24 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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

Revenue from the sale of goods is recognised at the point of delivery to the end customer at which point the risks and rewards of ownership have been transferred. Revenue from the provision of services is recognised based on the degree of completion of the services performed.

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.

Garuda Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

Current tax is recognised in profit or loss, except that a change 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.

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. The carrying value of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

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
Fixtures and fittings	20% reducing balance basis
Office equipment	25% reducing balance basis

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Work in progress represents the value of services rendered which have not yet been invoiced to the customer. The value of work in progress at the reporting date is calculated through a combination of the expected fee level and the estimated completion percentage. Stock is valued at the lower of cost and net realisable value. Cost includes all directly attributable charges and fees including shipping, handling and delivery. Net realisable value is calculated as the selling price less any anticipated conversion costs and selling fees.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 13 (2023 - 11).

Garuda Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	115,154	115,154
Additions	1,451	1,451
At 31 December 2024	116,605	116,605
Depreciation
At 1 January 2024	85,002	85,002
Charge for the year	7,343	7,343
At 31 December 2024	92,345	92,345
Carrying amount
At 31 December 2024	24,260	24,260
At 31 December 2023	30,152	30,152

5

Debtors

	2024 £	2023 £
Trade debtors	152,871	123,635
Prepayments	14,858	17,807
Other debtors	57,307	12,385
	225,036	153,827

Garuda Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6	Creditors: due within one year

	2024 £	2023 £
Trade creditors	48,772	71,842
Taxation and social security	48,414	56,790
Other creditors	64,392	88,761
	161,578	217,393

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1	50	50	50	50