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Company Registration No. 07223554 (England and Wales)
Design House Interiors Limited Unaudited accounts for the year ended 31 December 2022
Design House Interiors Limited Unaudited accounts Contents
Page
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Design House Interiors Limited Company Information for the year ended 31 December 2022
Directors
D Scott J Dunn
Company Number
07223554 (England and Wales)
Registered Office
14 Sandbeck Park Sandbeck Industrial Estate Wetherby LS22 7TW
Accountants
Tidal Accounting Madison Offices Richardshaw Road Leeds West Yorkshire LS28 6LE
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Design House Interiors Limited Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
123,124 
94,476 
Current assets
Inventories
529,027 
605,346 
Debtors
275,360 
220,644 
Cash at bank and in hand
284,158 
227,103 
1,088,545 
1,053,093 
Creditors: amounts falling due within one year
(587,421)
(474,262)
Net current assets
501,124 
578,831 
Total assets less current liabilities
624,248 
673,307 
Creditors: amounts falling due after more than one year
(234,603)
(277,355)
Provisions for liabilities
Deferred tax
(15,000)
(18,000)
Net assets
374,645 
377,952 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
374,545 
377,852 
Shareholders' funds
374,645 
377,952 
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by
D Scott Director Company Registration No. 07223554
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Design House Interiors Limited Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
Design House Interiors Limited is a private company, limited by shares, registered in England and Wales, registration number 07223554. The registered office is 14 Sandbeck Park, Sandbeck Industrial Estate, Wetherby, LS22 7TW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
25% Straight Line
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Straight Line
Computer equipment
25% Reducing Balance
Stocks
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Design House Interiors Limited Notes to the Accounts for the year ended 31 December 2022
Leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred taxation
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 accounts. 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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Going concern
The directors have considered all factors, including in the wider economy, as part of their assessment of going concern. The directors believe they have sufficient resources to enable trading to continue for a period of at least one year from the date of approval of the financial statements, on the basis of information currently available to them as at the point of approving these. Accordingly, these financial statement have been prepared on the going concern basis.
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2022
32,010 
119,345 
48,680 
21,911 
221,946 
Additions
56,032 
- 
255 
3,292 
59,579 
At 31 December 2022
88,042 
119,345 
48,935 
25,203 
281,525 
Depreciation
At 1 January 2022
32,010 
34,590 
47,788 
13,082 
127,470 
Charge for the year
- 
27,064 
430 
3,437 
30,931 
At 31 December 2022
32,010 
61,654 
48,218 
16,519 
158,401 
Net book value
At 31 December 2022
56,032 
57,691 
717 
8,684 
123,124 
At 31 December 2021
- 
84,755 
892 
8,829 
94,476 
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Design House Interiors Limited Notes to the Accounts for the year ended 31 December 2022
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
15,251 
- 
Accrued income and prepayments
- 
80,228 
Other debtors
260,109 
140,416 
275,360 
220,644 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
35,777 
35,777 
VAT
- 
150,218 
Obligations under finance leases and hire purchase contracts
- 
20,669 
Trade creditors
135,369 
95,738 
Taxes and social security
127,910 
159,614 
Other creditors
288,365 
8,247 
Accruals
- 
3,999 
587,421 
474,262 
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
163,446 
199,223 
Obligations under finance leases and hire purchase contracts
71,157 
78,132 
234,603 
277,355 
8
Operating lease commitments
2022 
2021 
£ 
£ 
At 31 December 2022 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
- 
5,135 
Later than one year and not later than five years
- 
2,568 
- 
7,703 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
D Scott
Interest free loan repayable on demand
73,490 
- 
- 
73,490 
J Dunn
Interest free loan repayable on demand
78,255 
- 
- 
78,255 
151,745 
- 
- 
151,745 
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Design House Interiors Limited Notes to the Accounts for the year ended 31 December 2022
10
Average number of employees
During the year the average number of employees was 12 (2021: 12).
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