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Company Registration No. 06911268 (England and Wales)
Interiors by Design Limited Unaudited accounts for the year ended 30 April 2023
Interiors by Design Limited Unaudited accounts Contents
Page
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Interiors by Design Limited Company Information for the year ended 30 April 2023
Directors
Mohammed Esssajee Simon Colebourne
Company Number
06911268 (England and Wales)
Registered Office
96 Leicester Road Wigston Leicestershire LE18 1DR
Accountants
Embee Oak Cardinal Point Park Road Rickmansworth Herts WD3 1RE
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Interiors by Design Limited Statement of financial position as at 30 April 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
50,852 
67,253 
Current assets
Inventories
10,100 
15,170 
Debtors
16,334 
90,265 
Cash at bank and in hand
33,982 
54,055 
60,416 
159,490 
Creditors: amounts falling due within one year
(55,683)
(156,027)
Net current assets
4,733 
3,463 
Total assets less current liabilities
55,585 
70,716 
Provisions for liabilities
Deferred tax
(12,713)
(12,162)
Net assets
42,872 
58,554 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
42,772 
58,454 
Shareholders' funds
42,872 
58,554 
For the year ending 30 April 2023 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 30 October 2023 and were signed on its behalf by
Mohammed Esssajee Director Company Registration No. 06911268
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Interiors by Design Limited Notes to the Accounts for the year ended 30 April 2023
1
Statutory information
Interiors by Design Limited is a private company, limited by shares, registered in England and Wales, registration number 06911268. The registered office is 96 Leicester Road, Wigston, Leicestershire, LE18 1DR.
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.
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.
Presentation currency
The accounts are presented in £ sterling.
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:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Inventories
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.
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.
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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Interiors by Design Limited Notes to the Accounts for the year ended 30 April 2023
Leased assets
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.
Pension costs
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.
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.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 May 2022
92,483 
5,450 
44,770 
142,703 
Additions
951 
- 
- 
951 
At 30 April 2023
93,434 
5,450 
44,770 
143,654 
Depreciation
At 1 May 2022
32,630 
4,905 
37,915 
75,450 
Charge for the year
15,201 
136 
2,015 
17,352 
At 30 April 2023
47,831 
5,041 
39,930 
92,802 
Net book value
At 30 April 2023
45,603 
409 
4,840 
50,852 
At 30 April 2022
59,853 
545 
6,855 
67,253 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
8,263 
82,194 
Amounts due from group undertakings etc.
4,000 
4,000 
Accrued income and prepayments
2,333 
2,333 
Other debtors
1,738 
1,738 
16,334 
90,265 
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Interiors by Design Limited Notes to the Accounts for the year ended 30 April 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
10,426 
18,896 
Trade creditors
31,402 
73,612 
Taxes and social security
8,601 
22,875 
Other creditors
- 
32,613 
Loans from directors
3,065 
5,602 
Accruals
2,189 
2,429 
55,683 
156,027 
7
Operating lease commitments
2023 
2022 
£ 
£ 
At 30 April 2023 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
- 
671 
8
Average number of employees
During the year the average number of employees was 7 (2022: 7).
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