Silverfin false 31/03/2023 01/04/2022 31/03/2023 C Smith 05/12/2018 18 October 2023 The principal activity of the Company during the financial year was interior design. 11711974 2023-03-31 11711974 bus:Director1 2023-03-31 11711974 2022-03-31 11711974 core:CurrentFinancialInstruments 2023-03-31 11711974 core:CurrentFinancialInstruments 2022-03-31 11711974 core:Non-currentFinancialInstruments 2023-03-31 11711974 core:Non-currentFinancialInstruments 2022-03-31 11711974 core:ShareCapital 2023-03-31 11711974 core:ShareCapital 2022-03-31 11711974 core:RetainedEarningsAccumulatedLosses 2023-03-31 11711974 core:RetainedEarningsAccumulatedLosses 2022-03-31 11711974 core:Goodwill 2022-03-31 11711974 core:Goodwill 2023-03-31 11711974 core:FurnitureFittings 2022-03-31 11711974 core:OfficeEquipment 2022-03-31 11711974 core:FurnitureFittings 2023-03-31 11711974 core:OfficeEquipment 2023-03-31 11711974 2022-04-01 2023-03-31 11711974 bus:FullAccounts 2022-04-01 2023-03-31 11711974 bus:SmallEntities 2022-04-01 2023-03-31 11711974 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11711974 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11711974 bus:Director1 2022-04-01 2023-03-31 11711974 core:Goodwill core:TopRangeValue 2022-04-01 2023-03-31 11711974 core:Goodwill 2022-04-01 2023-03-31 11711974 core:FurnitureFittings core:TopRangeValue 2022-04-01 2023-03-31 11711974 core:OfficeEquipment core:TopRangeValue 2022-04-01 2023-03-31 11711974 2021-04-01 2022-03-31 11711974 core:FurnitureFittings 2022-04-01 2023-03-31 11711974 core:OfficeEquipment 2022-04-01 2023-03-31 11711974 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 11711974 (England and Wales)

WISH INTERIOR ARCHITECTURE LTD

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

WISH INTERIOR ARCHITECTURE LTD

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

WISH INTERIOR ARCHITECTURE LTD

BALANCE SHEET

As at 31 March 2023
WISH INTERIOR ARCHITECTURE LTD

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 4 98,669 114,669
Tangible assets 5 30,744 32,780
129,413 147,449
Current assets
Debtors 6 42,344 49,419
Cash at bank and in hand 96,889 80,620
139,233 130,039
Creditors: amounts falling due within one year 7 ( 163,343) ( 168,765)
Net current liabilities (24,110) (38,726)
Total assets less current liabilities 105,303 108,723
Creditors: amounts falling due after more than one year 8 ( 25,780) ( 35,650)
Provision for liabilities ( 8,254) ( 6,796)
Net assets 71,269 66,277
Capital and reserves
Called-up share capital 100 100
Profit and loss account 71,169 66,177
Total shareholder's funds 71,269 66,277

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 financial statements of Wish Interior Architecture Ltd (registered number: 11711974) were approved and authorised for issue by the Director on 18 October 2023. They were signed on its behalf by:

C Smith
Director
WISH INTERIOR ARCHITECTURE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
WISH INTERIOR ARCHITECTURE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
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

Wish Interior Architecture Ltd (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 4 Scout Lane, Clapham Old Town, London, SW4 0LA, United Kingdom.

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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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.

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 Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account 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 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.

Interest income

Interest income on debt securities where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Taxation

Current tax
The tax expense for the period comprises current 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
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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:

Goodwill 1 years straight line
Goodwill

Goodwill arising on the acquisition of subsidiary undertakings and business, representing any excess of the fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, is capitalised and written off on a straight line basis over its useful economic life, which is 10 years. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 1 years straight line
Office equipment 1 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months are the reporting date they are represented as non-current liabilities.

Trade and other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. 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 are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating to revenue which are recognised in income over the period in which the related costs are recognised.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 6 6

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2022 160,000 160,000
At 31 March 2023 160,000 160,000
Accumulated amortisation
At 01 April 2022 45,331 45,331
Charge for the financial year 16,000 16,000
At 31 March 2023 61,331 61,331
Net book value
At 31 March 2023 98,669 98,669
At 31 March 2022 114,669 114,669

5. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 April 2022 25,081 19,011 44,092
Additions 0 2,408 2,408
At 31 March 2023 25,081 21,419 46,500
Accumulated depreciation
At 01 April 2022 6,484 4,828 11,312
Charge for the financial year 2,509 1,935 4,444
At 31 March 2023 8,993 6,763 15,756
Net book value
At 31 March 2023 16,088 14,656 30,744
At 31 March 2022 18,597 14,183 32,780

6. Debtors

2023 2022
£ £
Trade debtors 29,473 21,107
Other debtors 12,871 28,312
42,344 49,419

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 9,870 14,065
Trade creditors 36,967 9,778
Taxation and social security 34,811 ( 8,338)
Other creditors 81,695 153,260
163,343 168,765

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

2023 2022
£ £
Bank loans 25,780 35,650

There are no amounts included above in respect of which any security has been given by the small entity.

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Director's Loan Account 11,620 23,105

During the year the company made advances of £52,196 and repayments of £63,681. The loan from the director to the company is unsecured, interest free and repayable on demand.