Company No: 08825320 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	0		113,741
Tangible assets	4	14,369		19,521
Investments	5	2		1
		14,371		133,263
Current assets
Debtors	6	1,385,141		992,366
Cash at bank and in hand		907,787		378,697
		2,292,928		1,371,063
Creditors: amounts falling due within one year	7	( 1,326,246)		( 772,757)
Net current assets		966,682		598,306
Total assets less current liabilities		981,053		731,569
Creditors: amounts falling due after more than one year	8	( 31,988)		( 84,666)
Net assets		949,065		646,903
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		948,965		646,803
Total shareholders' funds		949,065		646,903

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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Assheton Carter Limited (registered number: 08825320) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

Assheton Stewart Carter Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Assheton Carter Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 North Place, Cheltenham, GL50 4DW, United Kingdom. The principal place of business is Avening Park, West End, Avening, Tetbury, Glos, GL8 8NE.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

3 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery	3 years straight line
Vehicles	4 years straight line
Fixtures and fittings	6.67 years straight line
Computer equipment	3 - 4 years straight line

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	22		22

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2024	129,201		129,201
Additions	177,131		177,131
Disposals	( 306,332)		( 306,332)
At 31 December 2024	0		0
Accumulated amortisation
At 01 January 2024	15,460		15,460
Charge for the financial year	47,768		47,768
Disposals	( 63,228)		( 63,228)
At 31 December 2024	0		0
Net book value
At 31 December 2024	0		0
At 31 December 2023	113,741		113,741

4. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 January 2024	8,686		1,918		45,593		46,126		102,323
Additions	0		0		0		7,620		7,620
Disposals	0		0		0		( 1,260)		( 1,260)
At 31 December 2024	8,686		1,918		45,593		52,486		108,683
Accumulated depreciation
At 01 January 2024	8,686		1,918		43,693		28,505		82,802
Charge for the financial year	0		0		311		11,632		11,943
Disposals	0		0		0		( 431)		( 431)
At 31 December 2024	8,686		1,918		44,004		39,706		94,314
Net book value
At 31 December 2024	0		0		1,589		12,780		14,369
At 31 December 2023	0		0		1,900		17,621		19,521

5. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 January 2024	1		1
Additions	1		1
At 31 December 2024	2		2
Carrying value at 31 December 2024	2		2
Carrying value at 31 December 2023	1		1

6. Debtors

	2024		2023
	£		£
Trade debtors	683,798		627,963
Amounts owed by Group undertakings	466,246		0
Amounts owed by directors	0		187,157
Prepayments and accrued income	183,508		120,117
Corporation tax	48,025		48,025
Other debtors	3,564		9,104
	1,385,141		992,366

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	56,623		53,996
Trade creditors	192,440		65,217
Amounts owed to directors	29,114		0
Accruals and deferred income	260,877		388,271
Deferred tax liability	3,588		4,880
Taxation and social security	299,946		138,691
Other creditors	483,658		121,702
	1,326,246		772,757

Other creditors of £483,658 comprise amounts held on behalf of collectives, the funds for which are held in separately designated bank accounts. The cash held at the year-end relating to this arrangement was £369,354, with the balance recognised in debtors.

8. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans (secured)	31,988		84,666

The loan is secured by a mortgage debenture which contains fixed and floating charge over all the property or undertaking of the company.

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

Intangible assets were sold to the subsidiary company, TDI Digital Limited, for its net book value of £243,104, believed to be equal to market value, during the period when that company was a 50% subsidiary.

Transactions with the entity's directors

At the year-end, the company owed the directors £29,114 (2023: £187,157 owed to the company). Interest was charged at 2.25% on overdrawn balances and the loans are repayable on demand. Dividends of £144,000 (2023: £170,000) were declared to the directors in the year.