2022-04-012023-03-312023-03-31false04456184ELIZABETH STANHOPE INTERIORS 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ELIZABETH STANHOPE INTERIORS LIMITED

Registered Number
04456184
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

ELIZABETH STANHOPE INTERIORS LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

NEWCOMBE, Elizabeth Rachel

Registered Address

27 Mill Street
Oakham
Rutland
LE15 6EA

Registered Number

04456184 (England and Wales)
ELIZABETH STANHOPE INTERIORS LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets515,17517,853
Tangible assets682,87172,760
98,04690,613
Current assets
Stocks798,850109,046
Debtors8283,597297,515
Cash at bank and on hand173,109126,177
555,556532,738
Creditors amounts falling due within one year9(263,397)(313,030)
Net current assets (liabilities)292,159219,708
Total assets less current liabilities390,205310,321
Creditors amounts falling due after one year10(87,964)(79,314)
Provisions for liabilities12(7,085)(17,336)
Net assets295,156213,671
Capital and reserves
Called up share capital160,100160,100
Profit and loss account135,05653,571
Shareholders' funds295,156213,671
The financial statements were approved and authorised for issue by the Director on 27 September 2023, and are signed on its behalf by:
NEWCOMBE, Elizabeth Rachel
Director
Registered Company No. 04456184
ELIZABETH STANHOPE INTERIORS LIMITED
Notes to the Financial Statements
for the year ended 31 March 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.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Intangible assets policy
The intangible assets are being written off over its useful life on a reducing balance method.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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 profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year88
5.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 22158,615158,615
At 31 March 23158,615158,615
Amortisation and impairment
At 01 April 22140,762140,762
Charge for year2,6782,678
At 31 March 23143,440143,440
Net book value
At 31 March 2315,17515,175
At 31 March 2217,85317,853
6.Property, plant and equipment

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 April 2219,01739,73643,544102,297
Additions-48,490-48,490
Disposals-(39,736)-(39,736)
At 31 March 2319,01748,49043,544111,051
Depreciation and impairment
At 01 April 227,61911,35610,56229,537
Charge for year1,7104,7604,57211,042
On disposals-(14,903)-(14,903)
Other adjustments-2,504-2,504
At 31 March 239,3293,71715,13428,180
Net book value
At 31 March 239,68844,77328,41082,871
At 31 March 2211,39828,38032,98272,760
7.Stocks

2023

2022

££
Work in progress98,850109,046
Total98,850109,046
8.Debtors

2023

2022

££
Trade debtors / trade receivables275,361279,427
Other debtors-8,764
Prepayments and accrued income8,2369,324
Total283,597297,515
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, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables167,657248,371
Taxation and social security53,59732,376
Finance lease and HP contracts6,673-
Other creditors11615
Accrued liabilities and deferred income35,35432,268
Total263,397313,030
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.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts47,48179,314
Other creditors40,483-
Total87,96479,314
11.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts40,483-
12.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)7,08517,336
Total7,08517,336