2022-05-012023-04-302023-04-30false07078938BDL INTERIORS 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BDL INTERIORS LIMITED

Registered Number
07078938
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2023

BDL INTERIORS LIMITED
Company Information
for the year from 1 May 2022 to 30 April 2023

Director

B De Lisi

Registered Address

65 Battersea Church Road
London
SW11 3LY

Registered Number

07078938 (England and Wales)
BDL INTERIORS LIMITED
Statement of Financial Position
30 April 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets8-4,527
Investment property91,322,0261,322,026
1,322,0261,326,553
Current assets
Debtors129,0665,270
Current asset investments639,268662,707
Cash at bank and on hand342,738417,864
991,0721,085,841
Creditors amounts falling due within one year13(8,616)(24,395)
Net current assets (liabilities)982,4561,061,446
Total assets less current liabilities2,304,4822,387,999
Net assets2,304,4822,387,999
Capital and reserves
Called up share capital11
Profit and loss account2,304,4812,387,998
Shareholders' funds2,304,4822,387,999
The financial statements were approved and authorised for issue by the Director on 27 September 2023, and are signed on its behalf by:
B De Lisi
Director
Registered Company No. 07078938
BDL INTERIORS LIMITED
Notes to the Financial Statements
for the year ended 30 April 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Principal activities
The principal activity of the company is the design of fashion clothing and homeware.
3.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows: Depreciation is provided over the life of the lease on leasehold property improvements at 33.3% Straight Line.
Intangible assets policy
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.
Investment property policy
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Leases policy
Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Investments policy
Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Employee benefits policy
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Valuation of financial instruments policy
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Going concern
The financial statements have been prepared on a going concern basis.
5.Employee information

20232022
Average number of employees during the year22
6.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 May 22100,000100,000
At 30 April 23100,000100,000
Amortisation and impairment
At 01 May 22100,000100,000
At 30 April 23100,000100,000
Net book value
At 30 April 23--
At 30 April 22--
7.Useful life of intangible asset
Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of Goodwill has been set at 3 years and the asset will be amortized on a straight line basis over that period.
8.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 May 221,200,98757,1973,4331,261,617
At 30 April 231,200,98757,1973,4331,261,617
Depreciation and impairment
At 01 May 221,196,46057,1973,4331,257,090
Charge for year4,527--4,527
At 30 April 231,200,98757,1973,4331,261,617
Net book value
At 30 April 23----
At 30 April 224,527--4,527
9.Investment property
It is the opinion of the directors that this valuation has not materiality altered at the Balance Sheet date.

£
Fair value at 01 May 221,322,026
At 30 April 231,322,026
10.Off balance sheet pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £1,321 (2022 - £1,314). Contributions totalling £257 (2022 - £257) were payable to the funds at the reporting date.
11.Description of nature of transactions and balances with related parties
Included within creditors, amounts falling due within one year, is an amount due to B De Lisi of £56 (2022 - £9,317). The balance is interest free and payable on demand.
12.Debtors

2023

2022

££
Trade debtors / trade receivables3,799-
Other debtors564590
Prepayments and accrued income4,7034,680
Total9,0665,270
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
13.Creditors within one year

2023

2022

££
Trade creditors / trade payables-1,020
Taxation and social security1,5276,606
Other creditors3,18513,368
Accrued liabilities and deferred income3,9043,401
Total8,61624,395
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.