Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01No description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07191566 2022-04-01 2023-03-31 07191566 2021-04-01 2022-03-31 07191566 2023-03-31 07191566 2022-03-31 07191566 c:Director2 2022-04-01 2023-03-31 07191566 d:MotorVehicles 2022-04-01 2023-03-31 07191566 d:MotorVehicles 2023-03-31 07191566 d:MotorVehicles 2022-03-31 07191566 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07191566 d:FurnitureFittings 2022-04-01 2023-03-31 07191566 d:FurnitureFittings 2023-03-31 07191566 d:FurnitureFittings 2022-03-31 07191566 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07191566 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07191566 d:CurrentFinancialInstruments 2023-03-31 07191566 d:CurrentFinancialInstruments 2022-03-31 07191566 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07191566 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07191566 d:ShareCapital 2023-03-31 07191566 d:ShareCapital 2022-03-31 07191566 d:RetainedEarningsAccumulatedLosses 2023-03-31 07191566 d:RetainedEarningsAccumulatedLosses 2022-03-31 07191566 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07191566 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 07191566 c:OrdinaryShareClass1 2022-04-01 2023-03-31 07191566 c:OrdinaryShareClass1 2023-03-31 07191566 c:OrdinaryShareClass1 2022-03-31 07191566 c:FRS102 2022-04-01 2023-03-31 07191566 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07191566 c:FullAccounts 2022-04-01 2023-03-31 07191566 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07191566 d:WithinOneYear 2023-03-31 07191566 d:WithinOneYear 2022-03-31 07191566 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07191566










J S DESIGNS & INTERIORS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
J S DESIGNS & INTERIORS LTD
REGISTERED NUMBER: 07191566

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,686
7,827

Current assets
  

Stocks
  
121,886
102,555

Debtors
 5 
44,690
83,368

Cash at bank and in hand
 6 
111,020
64,914

  
277,596
250,837

Creditors: amounts falling due within one year
 7 
(182,535)
(184,274)

Net current assets
  
 
 
95,061
 
 
66,563

Total assets less current liabilities
  
100,747
74,390

Provisions for liabilities
  

Deferred tax
  
(315)
(593)

Net assets
  
100,432
73,797


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
100,332
73,697

  
100,432
73,797


Page 1

 
J S DESIGNS & INTERIORS LTD
REGISTERED NUMBER: 07191566
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr J H Stammers
Director

Date: 26 September 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
J S DESIGNS & INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

J S Design & Interiors Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 62 High Street, Olney, Bucks, MK46 4BE. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention 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.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
J S DESIGNS & INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
J S DESIGNS & INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Defined benefit pension plan

The Company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.

The liability recognised in the Balance Sheet in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the balance sheet date less the fair value of plan assets at the balance sheet date (if any) out of which the obligations are to be settled.

The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').

The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.

The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:

a) the increase in net pension benefit liability arising from employee service during the period; and

b) the cost of plan introductions, benefit changes, curtailments and settlements.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.

Page 5

 
J S DESIGNS & INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
33%
Straight line & 20% reducing balance

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 
J S DESIGNS & INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 7

 
J S DESIGNS & INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2022
20,395
12,534
32,929


Additions
-
692
692



At 31 March 2023

20,395
13,226
33,621



Depreciation


At 1 April 2022
16,765
8,337
25,102


Charge for the year on owned assets
907
1,926
2,833



At 31 March 2023

17,672
10,263
27,935



Net book value



At 31 March 2023
2,723
2,963
5,686



At 31 March 2022
3,630
4,197
7,827

Page 8

 
J S DESIGNS & INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
12,500
25,099

Other debtors
22
9,683

Prepayments and accrued income
32,168
48,586

44,690
83,368



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
111,020
64,914



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
46,320
40,335

Corporation tax
6,226
-

Other taxation and social security
6,363
3,052

Other creditors
109,488
128,867

Accruals and deferred income
14,138
12,020

182,535
184,274



8.


Deferred taxation




2023


£






At beginning of year
(593)


Charged to profit or loss
278



At end of year
(315)

Page 9

 
J S DESIGNS & INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
8.Deferred taxation (continued)

2023
2022
£
£


Accelerated capital allowances
(315)
(593)

(315)
(593)


9.


Provisions










At 31 March 2023


10.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



100 (2022 - 100) Ordinary  shares of £1.00 each
100
100



11.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
11,750
2,759

11,750
2,759

 
Page 10