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Company registration number: 13527304
| ANNUAL REPORT AND FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 MARCH 2025
| TOTAL DESIGN HOLDINGS LIMITED
TOTAL DESIGN HOLDINGS LIMITED |  |
COMPANY INFORMATION
Director | Mr P D Thorpe
Registered number | 13527304
Registered office | Unit 5, Woodside Industrial Estate
| Woodside Road
| Eastleigh
| Hampshire
| SO50 4ET
Independent auditor | Menzies LLP
| Chartered Accountants & Statutory Auditor
| 3000a Parkway
| Whiteley
| Hampshire
| PO15 7FX
TOTAL DESIGN HOLDINGS LIMITED |  |
CONTENTS
| Page
Group strategic report | 1 - 2
Director's report | 3 - 4
Independent auditor's report | 5 - 8
Consolidated statement of comprehensive income | 9
Consolidated statement of financial position | 10 - 11
Company statement of financial position | 12
Consolidated statement of changes in equity | 13 - 14
Company statement of changes in equity | 15 - 16
Consolidated statement of cash flows | 17 - 18
Consolidated analysis of net debt | 19
Notes to the financial statements | 20 - 37
TOTAL DESIGN HOLDINGS LIMITED |  |
GROUP STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2025
Introduction
The director presents their strategic report of the Group for the year ended 31 March 2025.
Business review
The Total Design Group (TDG) enjoyed an excellent year across all of its trading subsidiaries. Aggregated revenue increased by 21% (£2.5m) as a result of both Total Design Shopfitting Services Limited (TDSS) and TDS Electrical Limited (TDSE) consolidating their positions as approved contractors for a major high street retailer and Shelving Solutions continuing to maximise its distribution network. Gross profits returned margins similar to the previous financial year (21.5% compared to 21.2%), even in the face of continuing inflationary pressures on materials and wage rises as a result of Minimum/Living Wage thresholds rising. While the Group saw Operating Profits almost double, (from 2.2% of revenue to 4.3% of revenue), the Group is determined to drive efficiencies and cost savings to increase this further. During the FY, the Group made excellent progress in securing major decarbonisation projects with a major client as well as introducing the Group’s versatility and high standards of workmanship to the leisure, hospitality, office and childcare sectors. TD Group net assets grew by 21% to £2.5m and whilst debtor days increased as a function of servicing major new clients with protracted payment terms, cash management remained a focus of the business.
Principal risks and uncertainties
Whilst retail ‘shopfitting’ is traditionally associated with the construction industry, it has not historically suffered to the same degree nor at the same frequency as more traditional construction activities. Notwithstanding, the Group continue to market in related spheres in order to dilute its reliance on the retail sector. Cash management and strictly controlled capital expenditure remain as key areas of focus in the next financial period. Other challenges ahead are predominantly external. The Group has a highly structured Pay Policy and rarely faces costs that are not forecast. Its cyber risk management system (and the residual risk insurance associated with cybercrime) has been enhanced. Of significance is the actions of the Treasury with respect to future tax rises. Whilst occurring outside of the 2024-25 FY, it should be noted that changes to National Insurance Contributions (NIC) brought in by the Chancellor in April 2025 had the effect of not only increasing the Group’s NIC bill by around £36k p.a. but also resulted in key clients delaying projects whilst they determined the overall effect of the Chancellor’s actions. It is highly likely that further budgetary measures will affect the Group’s activities, either directly, or as a result of client reactions to the changes.
Financial key performance indicators
The Group achieved its KPI targets with respect to Revenue and Gross Profit and will now focus on streamlining the project management process in order to increase operating profit. Overheads were marginally higher than targeted and the Group is aiming to reduce its overheads as a proportion of revenue through efficiency initiatives, control of wages and the gaining of more competitive pricing (from its suppliers). The main KPI’s for the group are gross profit margin with a target above 20% (2025 actual of 21.5%) (2024 actual of 21.2%) and Overheads margin with a target no less than 15% of revenue (2025 actual of 4.3%) (2024 actual of 2.3%). Page 1
TOTAL DESIGN HOLDINGS LIMITED |  |
GROUP STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 This report was approved by the board and signed on its behalf.
Mr P D Thorpe Director
Date: 14 November 2025
Page 2
TOTAL DESIGN HOLDINGS LIMITED |  |
DIRECTOR'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 The director presents his report and the financial statements for the year ended 31 March 2025.
Director's responsibilities statement
The director is responsible for preparing the Group strategic report, the Director's report and the consolidated financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period. In preparing these financial statements, the director is required to: ∙select suitable accounting policies for the Group's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results and dividends
The profit for the year, after taxation, amounted to £451,820 (2024 - £170,093). The total distribution of dividends can be found in note 7.
Director
The director who served during the year was:
Mr P D Thorpe
Future developments
In order to enhance its financial and operational management, in the last quarter of the FY, the Group introduced a project management system that is envisaged to increase project efficiency, enable reductions in direct costs, make more effective use of resources and install a further layer in accountability at project level. Activities aimed at diversifying the customer base should mitigate many of the effects wrought by the Treasury and continuing retail sector uncertainty. The Group aims to continue to grow operations and therefore revenue. Growth will be strictly controlled and commensurate with the capital assets of the Group. Page 3
TOTAL DESIGN HOLDINGS LIMITED |  |
DIRECTOR'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Disclosure of information to auditor
The director at the time when this Director's report is approved has confirmed that: ∙so far as he is aware, there is no relevant audit information of which the Company and the Group's auditor is unaware, and ∙he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditor is aware of that information.
Post balance sheet events
There have been no significant events affecting the Group since the year end.
Auditor
Under section 487(2) of the Companies Act 2006, Menzies LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier. This report was approved by the board and signed on its behalf.
Mr P D Thorpe Director
Date: 14 November 2025
Page 4
TOTAL DESIGN HOLDINGS LIMITED |  |
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TOTAL DESIGN HOLDINGS LIMITED
Opinion
We have audited the financial statements of Total Design Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated statement of financial position, the Company statement of financial position, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Group's and of the parent Company's affairs as at 31 March 2025 and of the Group's profit for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 5
TOTAL DESIGN HOLDINGS LIMITED |  |
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TOTAL DESIGN HOLDINGS LIMITED (CONTINUED)
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Group strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Group strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or ∙the parent Company financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of director's remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the Director's responsibilities statement set out on page 3, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Group or the parent Company or to cease operations, or has no realistic alternative but to do so. Page 6
TOTAL DESIGN HOLDINGS LIMITED |  |
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TOTAL DESIGN HOLDINGS LIMITED (CONTINUED)
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ∙The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation, and general regulations such as health and safety. There are no industry specific laws and regulations which would be deemed to have a significant impact on the financial statements. We assessed the extent of compliance with the appropriate laws and regulations as part of our procedures on the related financial statement items. ∙We understood how the Company is complying with the legal and regulatory frameworks by, making inquiries to management and those responsible for legal and compliance procedures. We corroborated our inquiries through our review of board minutes. ∙The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognize non-compliance with laws and regulations. The assessment did not identify any issues in this area. ∙We assessed the susceptibility of the Company financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included: °Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud; °Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process; °Challenging assumptions and judgments made by management in its significant accounting estimates; and °Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations. ∙As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: °Posting of unusual journals and complex transactions. °Misappropriation of funds through fraudulent purchase ledger and payroll activity. °Manipulation of amounts subject to significant judgment or estimate. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report. Page 7
TOTAL DESIGN HOLDINGS LIMITED |  |
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TOTAL DESIGN HOLDINGS LIMITED (CONTINUED)
Other matters
Menzies LLP were appointed as auditor for the 31 March 2025 financial statements however the corresponding figures for the prior period were unaudited.
Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Andrew Galliers (FCA) (Senior statutory auditor) for and on behalf of Menzies LLP Chartered Accountants Statutory Auditor 3000a Parkway Whiteley Hampshire PO15 7FX 14 November 2025 Page 8
TOTAL DESIGN HOLDINGS LIMITED |  |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | Unaudited 2024
Note | £ | £
Turnover | 4 | 15,031,151 | 12,455,924
Cost of sales |  | (11,795,721) | (9,814,910)
Gross profit |  | 3,235,430 | 2,641,014
Administrative expenses |  | (2,592,632) | (2,355,191)
Other operating income | 5 | 7,268 | (14,871)
Fair value movements |  | (8,739) | -
Operating profit |  | 641,327 | 270,952
Interest receivable and similar income | 9 | 3,439 | 2,353
Interest payable and similar expenses | 10 | (4,551) | (3,218)
Profit before taxation |  | 640,215 | 270,087
Tax on profit | 11 | (188,395) | (99,994)
Profit for the financial year |  | 451,820 | 170,093
Profit for the year attributable to: |  |  |
Owners of the parent Company |  | 451,820 | 170,093
|  | 451,820 | 170,093
Total comprehensive income for the year attributable to: |  |  |
Owners of the parent Company |  | 451,820 | 170,093
|  | 451,820 | 170,093
There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 20 to 37 form part of these financial statements.
Page 9
TOTAL DESIGN HOLDINGS LIMITED REGISTERED NUMBER:13527304 |  |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025 |  | Unaudited 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets |  |  | 581,974 |  | 685,443
Tangible assets |  |  | 116,193 |  | 75,537
|  |  | 698,167 |  | 760,980
Current assets |  |  |  |  |
Stocks |  | 134,455 |  | 154,083 |
Debtors: amounts falling due within one year |  | 2,979,294 |  | 4,606,935 |
Cash at bank and in hand | 18 | 1,487,909 |  | 42,420 |
|  | 4,601,658 |  | 4,803,438 |
Creditors: amounts falling due within one year | 19 | (2,748,200) |  | (3,484,338) |
Net current assets |  |  | 1,853,458 |  | 1,319,100
Total assets less current liabilities |  |  | 2,551,625 |  | 2,080,080
Creditors: amounts falling due after more than one year |  |  | (24,622) |  | (2,306)
Provisions for liabilities |  |  |  |  |
Deferred taxation |  | (15,354) |  | (17,278) |
Other provisions |  | (15,333) |  | - |
|  |  | (30,687) |  | (17,278)
Net assets |  |  | 2,496,316 |  | 2,060,496
Page 10
TOTAL DESIGN HOLDINGS LIMITED REGISTERED NUMBER:13527304 |  |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2025
|  | 2025 |  | Unaudited 2024
Note |  | £ |  | £
Capital and reserves |  |  |  |  |
Called up share capital | 24 |  | 130 |  | 130
Capital redemption reserve | 25 |  | 20 |  | 20
Profit and loss account | 25 |  | 2,496,166 |  | 2,060,346
|  |  | 2,496,316 |  | 2,060,496
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Mr P D Thorpe
Director
Date: 14 November 2025
The notes on pages 20 to 37 form part of these financial statements. Page 11
TOTAL DESIGN HOLDINGS LIMITED REGISTERED NUMBER:13527304 |  |
COMPANY STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  |  |  | As restated
|  | 2025 |  | Unaudited 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 15 |  | 1,150,000 |  | 1,150,000
|  |  | 1,150,000 |  | 1,150,000
Current assets |  |  |  |  |
Cash at bank and in hand | 18 | 136 |  | 586 |
|  | 136 |  | 586 |
Creditors: amounts falling due within one year | 19 | (522,442) |  | (504,006) |
Net current liabilities |  |  | (522,306) |  | (503,420)
Total assets less current liabilities |  |  | 627,694 |  | 646,580
Net assets |  |  | 627,694 |  | 646,580
Capital and reserves |  |  |  |  |
Called up share capital | 24 |  | 130 |  | 130
Share premium account | 25 |  | 172,350 |  | 172,350
Capital redemption reserve | 25 |  | 20 |  | 20
Profit and loss account brought forward |  | 474,080 |  | 626,776 |
Loss/(profit) for the year |  | (2,886) |  | 199,304 |
Dividends paid |  | (16,000) |  | (352,000) |
Profit and loss account carried forward |  |  | 455,194 |  | 474,080
|  |  | 627,694 |  | 646,580
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Mr P D Thorpe
Director
Date: 14 November 2025
The notes on pages 20 to 37 form part of these financial statements. Page 12
TOTAL DESIGN HOLDINGS LIMITED |  |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025
| Called up share capital | Capital redemption reserve | Profit and loss account | Equity attributable to owners of parent Company | Total equity
| £ | £ | £ | £ | £
At 1 April 2024 | 130 | 20 | 2,060,346 | 2,060,496 | 2,060,496
Comprehensive income for the year |  |  |  |  |
Profit for the year | - | - | 451,820 | 451,820 | 451,820
Total comprehensive income for the year | - | - | 451,820 | 451,820 | 451,820
Contributions by and distributions to owners |  |  |  |  |
Dividends: Equity capital | - | - | (16,000) | (16,000) | (16,000)
Total transactions with owners | - | - | (16,000) | (16,000) | (16,000)
At 31 March 2025 | 130 | 20 | 2,496,166 | 2,496,316 | 2,496,316
| The notes on pages 20 to 37 form part of these financial statements.
Page 13
TOTAL DESIGN HOLDINGS LIMITED |  |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2024
| Unaudited Called up share capital | Unaudited Capital redemption reserve | Unaudited Profit and loss account | Unaudited Equity attributable to owners of parent Company | Unaudited Total equity
| £ | £ | £ | £ | £
At 1 April 2023 | 150 | - | 2,242,253 | 2,242,403 | 2,242,403
Comprehensive income for the year |  |  |  |  |
Profit for the year | - | - | 170,093 | 170,093 | 170,093
Total comprehensive income for the year | - | - | 170,093 | 170,093 | 170,093
Contributions by and distributions to owners |  |  |  |  |
Dividends: Equity capital | - | - | (2,000) | (2,000) | (2,000)
Purchase of own shares | - | 20 | (350,000) | (349,980) | (349,980)
Shares cancelled during the year | (20) | - | - | (20) | (20)
Total transactions with owners | (20) | 20 | (352,000) | (352,000) | (352,000)
At 31 March 2024 | 130 | 20 | 2,060,346 | 2,060,496 | 2,060,496
| The notes on pages 20 to 37 form part of these financial statements.
Page 14
TOTAL DESIGN HOLDINGS LIMITED |  |
COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025
| Called up share capital | Share premium account | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 April 2024 | 130 | 172,350 | 20 | 474,080 | 646,580
Comprehensive income for the year |  |  |  |  |
Loss for the year | - | - | - | (2,886) | (2,886)
Total comprehensive income for the year | - | - | - | (2,886) | (2,886)
Contributions by and distributions to owners |  |  |  |  |
Dividends: Equity capital | - | - | - | (16,000) | (16,000)
Total transactions with owners | - | - | - | (16,000) | (16,000)
At 31 March 2025 | 130 | 172,350 | 20 | 455,194 | 627,694
| The notes on pages 20 to 37 form part of these financial statements.
Page 15
TOTAL DESIGN HOLDINGS LIMITED |  |
COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2024
| Unaudited Called up share capital | Unaudited Share premium account | Unaudited Capital redemption reserve | Unaudited Profit and loss account | Unaudited Total equity
| £ | £ | £ | £ | £
At 1 April 2023 | 150 | 172,350 | - | 626,776 | 799,276
Comprehensive income for the year |  |  |  |  |
Profit for the year | - | - | - | 199,304 | 199,304
Total comprehensive income for the year | - | - | - | 199,304 | 199,304
Contributions by and distributions to owners |  |  |  |  |
Dividends: Equity capital | - | - | - | (2,000) | (2,000)
Purchase of own shares | - | - | 20 | (350,000) | (349,980)
Shares cancelled during the year | (20) | - | - | - | (20)
Total transactions with owners | (20) | - | 20 | (352,000) | (352,000)
At 31 March 2024 | 130 | 172,350 | 20 | 474,080 | 646,580
| The notes on pages 20 to 37 form part of these financial statements.
Page 16
TOTAL DESIGN HOLDINGS LIMITED |  |
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025
|  |  | 2025 | Unaudited 2024
|  |  | £ | £
Cash flows from operating activities |  |
Profit for the financial year | 451,820 | 170,093
Adjustments for: |  |
Amortisation of intangible assets | 94,730 | 94,730
Depreciation of tangible assets | 39,349 | 25,020
Loss on disposal of tangible assets | 1,654 | -
Government grants | (7,268) | (3,129)
Interest paid | 4,551 | 3,218
Interest received | (3,440) | (2,352)
Taxation charge | 188,395 | 99,994
Decrease in stocks | 19,628 | 15,731
Decrease/(increase) in debtors | 1,627,641 | (960,607)
(Decrease)/increase in creditors | (464,746) | 271,644
Increase in provisions | 15,333 | -
Net fair value losses recognised in P&L | 8,739 | -
Corporation tax (paid) | (109,154) | (118,557)
Net cash generated from operating activities | 1,867,232 | (404,215)
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (86,076) | (10,470)
Sale of tangible fixed assets | 4,418 | -
Government grants received | 7,268 | 3,129
Interest received | 3,439 | 2,353
HP interest paid | (2,827) | (1,858)
Net cash from investing activities | (73,778) | (6,846)
Page 17
TOTAL DESIGN HOLDINGS LIMITED |  |
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
|  | 2025 | 2024
|  | £ | £
Cash flows from financing activities |  |
Repayment of/new finance leases | 38,046 | (11,753)
Dividends paid | (16,000) | (2,000)
Interest paid | (1,724) | (1,360)
Purchase of own shares | - | (350,000)
Net cash used in financing activities | 20,322 | (365,113)
Net increase/(decrease) in cash and cash equivalents | 1,813,776 | (776,174)
Cash and cash equivalents at beginning of year | (325,867) | 450,307
Cash and cash equivalents at the end of year | 1,487,909 | (325,867)
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 1,487,909 | 42,420
Bank overdrafts | - | (368,287)
| 1,487,909 | (325,867)
The notes on pages 20 to 37 form part of these financial statements.
Page 18
TOTAL DESIGN HOLDINGS LIMITED |  |
CONSOLIDATED ANALYSIS OF NET DEBT FOR THE YEAR ENDED 31 MARCH 2025
| At 1 April 2024 | Cash flows | At 31 March 2025
| £ | £ | £
Cash at bank and in hand | 42,420 | 1,445,489 | 1,487,909
Bank overdrafts | (368,287) | 368,287 | -
Debt due within 1 year | (143) | - | (143)
Finance leases | (7,333) | (38,046) | (45,379)
| (333,343) | 1,775,730 | 1,442,387
The notes on pages 20 to 37 form part of these financial statements.
Page 19
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Total Design Holdings Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is disclosed on the company information page. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The following principal accounting policies have been applied:
| 2.2 | Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full. The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases. In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 23 July 2021.
| 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. Revenue recognition is based upon the contract values agreed with customers, and is solely based off of the percentage completion of budgeted costs of those contracts, compared to the relevant actual costs incurred showing progression throughout the contract.
| 2.4 | Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Consolidated statement of comprehensive income in the same period as the related expenditure.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 20
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.8 | Pensions
Defined contribution pension plan The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Group in independently administered funds.
| 2.9 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. 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 and the Group operate and generate income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and ∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. Page 21
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.10 | Intangible assets
Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life. Other intangible assets Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.11 | 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, straight-line method/ reducing balance. Depreciation is provided on the following basis:
|  |  |  | Short-term leasehold property | - | 10% | Straight line
|  |  |  | Plant and machinery | - | 15% | Reducing balance
|  |  |  | Motor vehicles | - | 25% | Reducing balance
|  |  |  | Fixtures and fittings | - | 15% | Reducing balance
|  |  |  | Computer equipment | - | 33% | Reducing balance
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.
| 2.12 | Impairment of fixed assets and goodwill
Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased. Page 22
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.13 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Group 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 Consolidated statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
| 2.14 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.15 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.16 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.
| 2.17 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.18 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. Page 23
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.19 | Financial instruments
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Group's Statement of financial position when the Group becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic financial liabilities 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 Group after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Page 24
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.19 | Financial instruments (continued)
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.
| 2.20 | 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.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
Percentage completion on contracts Management assesses the estimated budgeted costs to complete the contracts agreed with customers. The budgeted costs are based upon historical contracts of a similar nature and size, as well as using internal operational expertise. There is then a monthly review of the budgeted costs to ensure no contracts fall within a loss-making position, with most of the contracts remaining profitable. As mentioned in accounting policy 2.3, revenue recognition, revenue is then recognised on a percentage of the costs incurred to date, against expected total budgeted costs for the project. Page 25
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Turnover
| An analysis of turnover by class of business is as follows:
|  |  |  |  | 2025 | Unaudited 2024
|  |  |  |  | £ | £
| Sales | 15,031,151 | 12,455,924
|  | 15,031,151 | 12,455,924
Analysis of turnover by country of destination:
|  |  |  |  | 2025 | Unaudited 2024
|  |  |  |  | £ | £
| United Kingdom | 15,031,151 | 12,455,924
|  | 15,031,151 | 12,455,924
5. | Other operating income
|  |  |  |  | 2025 | Unaudited 2024
|  |  |  |  | £ | £
| Government grants receivable | 7,268 | 3,129
| Sundry income | - | (18,000)
|  | 7,268 | (14,871)
6. | Auditor's remuneration
| During the year, the Group obtained the following services from the Company's auditor:
|  |  |  |  | 2025 | Unaudited 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditor for the audit of the consolidated and parent Company's financial statements | 29,000 | -
Page 26
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
7. | Employees
| Staff costs, including director's remuneration, were as follows:
|  | Group | Group
|  | 2025 | Unaudited 2024
|  | £ | £
| Wages and salaries | 1,956,980 | 1,866,902
| Social security costs | 208,341 | 191,196
| Cost of defined contribution scheme | 65,651 | 62,799
|  | 2,230,972 | 2,120,897
| The average monthly number of employees, including the director, during the year was as follows:
|  |  | Group | Group | Company | Company
|  |  | 2025 | Unaudited 2024 | 2025 | Unaudited 2024
|  |  | No. | No. | No. | No.
|  | Director | 4 | 4 | 1 | 1
|  | Staff | 31 | 30 | - | -
|  |  | 35 | 34 | 1 | 1
8. | Director's remuneration
| During the year retirement benefits were accruing to no directors (2024 - NIL) in respect of defined contribution pension schemes.
| The highest paid director received remuneration of £NIL (2024 - £NIL).
| The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £NIL (2024 - £NIL).
9. | Interest receivable
|  |  |  |  | 2025 | Unaudited 2024
|  |  |  |  | £ | £
| Other interest receivable | 3,439 | 2,353
|  | 3,439 | 2,353
Page 27
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
10. | Interest payable and similar expenses
|  |  |  |  | 2025 | Unaudited 2024
|  |  |  |  | £ | £
| Bank interest payable | 1,499 | 526
| Finance leases and hire purchase contracts | 2,827 | 1,858
| Other interest payable | 225 | 834
|  | 4,551 | 3,218
11. | Taxation
|  |  |  |  | 2025 | Unaudited 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 193,318 | 103,422
| Adjustments in respect of previous periods | (1,404) | 108
|  | 191,914 | 103,530
| Total current tax | 191,914 | 103,530
| Deferred tax |  |
| Origination and reversal of timing differences | (3,519) | (3,536)
| Total deferred tax | (3,519) | (3,536)
| Tax on profit | 188,395 | 99,994
Page 28
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is lower than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | Unaudited 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 640,215 | 270,087
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 160,054 | 67,522
| Effects of: |  |
| Non-tax deductible amortisation of goodwill and impairment | 25,867 | 23,683
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 6,655 | 8,898
| Adjustments to tax charge in respect of prior periods | (3,016) | -
| Adjustments to tax charge in respect of prior periods - deferred tax | (1,595) | -
| Unrecognised deferred tax charges | 430 | (109)
| Total tax charge for the year | 188,395 | 99,994
12. | Dividends
|  |  |  |  | 2025 | Unaudited 2024
|  |  |  |  | £ | £
| Dividends | 16,000 | 2,000
|  | 16,000 | 2,000
Page 29
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
13. | Intangible assets
| Group and Company
|  | Patents | Goodwill | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 April 2024 | 1 | 947,304 | 947,305
| At 31 March 2025 | 1 | 947,304 | 947,305
| Amortisation |  |  |
| At 1 April 2024 | - | 261,862 | 261,862
| Charge for the year on owned assets | - | 94,730 | 94,730
| Impairment charge | - | 8,739 | 8,739
| At 31 March 2025 | - | 365,331 | 365,331
| Net book value |  |  |
| At 31 March 2025 | 1 | 581,973 | 581,974
| At 31 March 2024 | 1 | 685,442 | 685,443
Page 30

TOTAL DESIGN HOLDINGS LIMITED |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| 14. | Tangible fixed assets
|  | Group
|  | Short-term leasehold property | Plant and machinery | Motor vehicles | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |  |
| At 1 April 2024 | 214,652 | 9,776 | 151,586 | 36,292 | 53,299 | 465,605
| Additions | - | - | 71,286 | 2,719 | 12,071 | 86,076
| Disposals | - | (2,200) | (29,890) | - | (3,373) | (35,463)
| At 31 March 2025 | 214,652 | 7,576 | 192,982 | 39,011 | 61,997 | 516,218
| Depreciation |  |  |  |  |  |
| At 1 April 2024 | 214,652 | 7,124 | 104,216 | 26,132 | 37,944 | 390,068
| Charge for the year on owned assets | - | 190 | 28,888 | 1,394 | 8,876 | 39,348
| Disposals | - | (817) | (25,535) | - | (3,039) | (29,391)
| At 31 March 2025 | 214,652 | 6,497 | 107,569 | 27,526 | 43,781 | 400,025
| Net book value |  |  |  |  |  |
| At 31 March 2025 | - | 1,079 | 85,413 | 11,485 | 18,216 | 116,193
| At 31 March 2024 | - | 2,652 | 47,370 | 10,160 | 15,355 | 75,537
Page 31

TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
15. | Fixed asset investments
| Company
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 April 2024 (as previously stated) | 977,650
| Prior Year Adjustment | 172,350
| At 1 April 2024 (as restated) | 1,150,000
| At 31 March 2025 | 1,150,000
| Subsidiary undertakings
| The following were subsidiary undertakings of the Company:
| Name | Registered office | Class of shares | Holding
| Total Design Group Limited | Unit 5, Woodside Industrial Estate, Woodside Road, Eastleigh, Hampshire, United Kingdom, SO50 4ET | Ordinary | 100%
| Total Design Shopfitting Services Limited | Unit 5, Woodside Industrial Estate, Woodside Road, Eastleigh, Hampshire, United Kingdom, SO50 4ET | Ordinary | 100%
| TDS Electrical Limited | Unit 5, Woodside Industrial Estate, Woodside Road, Eastleigh, Hampshire, United Kingdom, SO50 4ET | Ordinary | 100%
| Total Design Joinery Limited | Unit 5, Woodside Industrial Estate, Woodside Road, Eastleigh, Hampshire, United Kingdom, SO50 4ET | Ordinary | 100%
| Shelving Solutions Limited | Unit 5, Woodside Industrial Estate, Woodside Road, Eastleigh, Hampshire, United Kingdom, SO50 4ET | Ordinary | 100%
| Total Design Passive Fire Solutions Limited | Unit 5, Woodside Industrial Estate, Woodside Road, Eastleigh, Hampshire, United Kingdom, SO50 4ET | Ordinary | 100%
Page 32
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
16. | Stocks
|  | Group | Group
|  | 2025 | Unaudited 2024
|  | £ | £
| Work in progress (goods to be sold) | 5,930 | 13,379
| Finished goods and goods for resale | 128,525 | 140,704
|  | 134,455 | 154,083
| The difference between purchase price or production cost of stocks and their replacement cost is not material.
17. | Debtors
|  | Group | Group
|  | 2025 | Unaudited 2024
|  | £ | £
| Trade debtors | 2,377,842 | 4,343,755
| Amounts owed by group undertakings | 1 | 1
| Other debtors | 7,943 | 49,269
| Prepayments and accrued income | 228,477 | 125,863
| Amounts recoverable on long-term contracts | 365,031 | 88,047
|  | 2,979,294 | 4,606,935
18. | Cash and cash equivalents
|  | Group | Group | Company | Company
|  | 2025 | Unaudited 2024 | 2025 | Unaudited 2024
|  | £ | £ | £ | £
| Cash at bank and in hand | 1,487,909 | 42,420 | 136 | 586
| Less: bank overdrafts | - | (368,287) | - | -
|  | 1,487,909 | (325,867) | 136 | 586
Page 33
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
19. | Creditors: Amounts falling due within one year
|  | Group | Group | Company | Company
|  | 2025 | Unaudited 2024 | 2025 | Unaudited 2024
|  | £ | £ | £ | £
| Bank overdrafts | - | 368,287 | - | -
| Trade creditors | 955,447 | 834,755 | - | -
| Amounts owed to group undertakings | - | - | 522,442 | 504,006
| Corporation tax | 149,771 | 68,606 | - | -
| Other taxation and social security | 629,089 | 676,894 | - | -
| Obligations under finance lease and hire purchase contracts | 20,757 | 5,027 | - | -
| Other creditors | 84,686 | 82,209 | - | -
| Accruals and deferred income | 908,450 | 1,448,560 | - | -
|  | 2,748,200 | 3,484,338 | 522,442 | 504,006
| Bank overdrafts are secured against the total assets of the entity. Obligations under finance leases and hire purchase contracts are secured against the asset in which they relate.
20. | Creditors: Amounts falling due after more than one year
|  | Group | Group
|  | 2025 | Unaudited 2024
|  | £ | £
| Net obligations under finance leases and hire purchase contracts | 24,622 | 2,306
|  | 24,622 | 2,306
| Obligations under finance leases and hire purchase contracts are secured against the asset in which they relate.
21. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  | Group | Group
|  | 2025 | Unaudited 2024
|  | £ | £
| Within one year | 20,757 | 5,027
| Between 1-5 years | 24,622 | 2,306
|  | 45,379 | 7,333
Page 34
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
22. | Deferred taxation
| Group
|  | 2025
|  | £
| At beginning of year | 17,278
| Charged to profit or loss | (1,924)
| At end of year | 15,354
|  | Group | Group
|  | 2025 | Unaudited 2024
|  | £ | £
| Accelerated capital allowances | 15,354 | 17,278
|  | (15,354) | (17,278)
23. | Provisions
| Group
|  | Dilapidations
|  | £
| Charged to profit or loss | 15,333
| At 31 March 2025 | 15,333
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TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 23.Provisions (continued)
24. | Share capital
|  |  |  |  | 2025 | Unaudited 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 130 (2024 - 130) Ordinary shares of £1.00 each | 130 | 130
| All shares have attached to them full voting and capital distribution (including winding up) rights; they do not conferany rights of redemption.
25. | Reserves
Capital redemption reserve This reserve records the nomial value of shares repurchased by the Company. Profit and loss account The profit and loss account represents all accumulated net gains and losses which are distributable.
26. | Prior year adjustment
A prior year adjustment has been made causing an impact on the investment value brought forwards, being an uplift of £172,350 and to include a share premium of £172,350 for the value paid over and above the nominal value of the share capital.
27. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £56,603 (2024 - £62,799) . Contributions totalling £Nil (2024 - £Nil) were payable to the fund at the reporting date and are included in creditors. Page 36
TOTAL DESIGN HOLDINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
28. | Commitments under operating leases
| At 31 March 2025 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  | Group | Group
|  | 2025 | Unaudited 2024
|  | £ | £
| Not later than 1 year | 4,537 | -
| Later than 1 year and not later than 5 years | 4,058 | -
|  | 8,595 | -
| Expenses recorded within the profit and loss for the year, relating to operating lease charges amoutns to £4,184 (2024 - £Nil).
29. | Post balance sheet events
After the Balance Sheet date, it was decided that a subsidiary, Total Design Joinery Limited was to be closed down and no longer trade.
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