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Registration number: 08437246

CNR Interiors Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2023

CNR Interiors Ltd

(Registration number: 08437246)
Balance Sheet as at 31 March 2023

| Note | 2023 £ | 2022 £
Fixed assets |  |  |
Tangible assets | 4 | 24,573 | 14,555
Current assets |  |  |
Debtors | 5 | 31,572 | 19,898
Cash at bank and in hand |  | 672 | 3,296
|  | 32,244 | 23,194
Creditors: Amounts falling due within one year | 6 | (12,316) | (14,992)
Net current assets |  | 19,928 | 8,202
Total assets less current liabilities |  | 44,501 | 22,757
Creditors: Amounts falling due after more than one year | 6 | (21,050) | (14,797)
Provisions for liabilities |  | (4,669) | (2,911)
Net assets |  | 18,782 | 5,049
Capital and reserves |  |  |
Called up share capital | 8 | 2 | 2
Retained earnings |  | 18,780 | 5,047
Shareholders' funds |  | 18,782 | 5,049

For the financial year ending 31 March 2023 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 his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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.

Approved and authorised by the director on 4 October 2023

......................................... Clint M Fowles Director

CNR Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1 | General information

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

The address of its registered office is:
16 Little Oak Avenue
Annesley
Kirkby in Ashfield
Nottingham
NG17 9BG

These financial statements were authorised for issue by the director on 4 October 2023.

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 sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. 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 in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

CNR Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Asset class | Depreciation method and rate
Motor vehicles | 20% reducing balance
Plant and machinery | 20% reducing balance

Cash and cash equivalents

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 3).

CNR Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2022 | 27,867 | 15,021 | 42,888
Additions | 4,714 | 13,190 | 17,904
Disposals | - | (13,734) | (13,734)
At 31 March 2023 | 32,581 | 14,477 | 47,058
Depreciation
At 1 April 2022 | 15,714 | 12,619 | 28,333
Charge for the year | 3,373 | 2,770 | 6,143
Eliminated on disposal | - | (11,991) | (11,991)
At 31 March 2023 | 19,087 | 3,398 | 22,485
Carrying amount
At 31 March 2023 | 13,494 | 11,079 | 24,573
At 31 March 2022 | 12,153 | 2,402 | 14,555

5 | Debtors

Current | 2023 £ | 2022 £
Trade debtors | 4,940 | 585
Other debtors | 26,632 | 19,313
| 31,572 | 19,898

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2023 £ | 2022 £
Due within one year |  |  |
Loans and borrowings | 7 | 6,415 | 3,710
Taxation and social security |  | 5,888 | 7,402
Other creditors |  | 13 | 3,880
|  | 12,316 | 14,992

Creditors: amounts falling due after more than one year

CNR Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

| Note | 2023 £ | 2022 £
Due after one year |  |  |
Loans and borrowings | 7 | 21,050 | 14,797

7 | Loans and borrowings

| 2023 £ | 2022 £
Non-current loans and borrowings
Bank borrowings | 11,090 | 14,797
Hire purchase contracts | 9,960 | -
| 21,050 | 14,797

| 2023 £ | 2022 £
Current loans and borrowings
Bank borrowings | 3,782 | 3,710
Hire purchase contracts | 2,633 | -
| 6,415 | 3,710

8 | Share capital

Allotted, called up and fully paid shares

| 2023 | 2022
| No. | £ | No. | £
Ordinary of £1 each | 2 | 2 | 2 | 2