Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseInterior design51falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06775114 2022-03-01 2023-02-28 06775114 2021-03-01 2022-02-28 06775114 2023-02-28 06775114 2022-02-28 06775114 c:Director1 2022-03-01 2023-02-28 06775114 d:PlantMachinery 2022-03-01 2023-02-28 06775114 d:PlantMachinery 2022-02-28 06775114 d:MotorVehicles 2022-03-01 2023-02-28 06775114 d:MotorVehicles 2022-02-28 06775114 d:OfficeEquipment 2022-03-01 2023-02-28 06775114 d:OfficeEquipment 2022-02-28 06775114 d:CurrentFinancialInstruments 2023-02-28 06775114 d:CurrentFinancialInstruments 2022-02-28 06775114 d:Non-currentFinancialInstruments 2023-02-28 06775114 d:Non-currentFinancialInstruments 2022-02-28 06775114 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 06775114 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 06775114 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 06775114 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 06775114 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 06775114 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 06775114 c:FRS102 2022-03-01 2023-02-28 06775114 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 06775114 c:FullAccounts 2022-03-01 2023-02-28 06775114 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 06775114









INTERIOR HUB LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
INTERIOR HUB LIMITED
REGISTERED NUMBER: 06775114

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

  

Fixed assets
  

Tangible assets
 3 
23,154
26,481

  
23,154
26,481

Current assets
  

Stocks
  
67,689
67,689

Debtors
 4 
33,757
70,815

Cash at bank and in hand
 5 
5,655
57,671

  
107,101
196,175

Creditors: amounts falling due within one year
 6 
(152,178)
(183,028)

Net current (liabilities)/assets
  
 
 
(45,077)
 
 
13,147

Total assets less current liabilities
  
(21,923)
39,628

  

Creditors: amounts falling due after more than one year
 7 
(20,717)
(31,365)

  
(42,640)
8,263

Provisions for liabilities
  

Deferred taxation
  
(4,943)
(8,126)

  
 
 
(4,943)
 
 
(8,126)

  

Net assets excluding pension asset
  
(47,583)
137

Net (liabilities)/assets
  
(47,583)
137


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(47,683)
37

  
(47,583)
137


The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
Page 1

 
INTERIOR HUB LIMITED
REGISTERED NUMBER: 06775114
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023


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 on 17 October 2023.




Daniel Healey
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.ACCOUNTING POLICIES

 
1.1

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:

 
1.2

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.

 
1.3

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.

 
1.4

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.

 
1.5

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.ACCOUNTING POLICIES (CONTINUED)

 
1.6

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.

 
1.7

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.

 
1.8

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.

Page 4

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.ACCOUNTING POLICIES (CONTINUED)


1.8
TANGIBLE FIXED ASSETS (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
15% Reducing balance
Motor vehicles
-
25% Reducing balance
Office equipment
-
33.33% 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.

 
1.9

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.

 
1.10

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.11

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.

 
1.12

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.ACCOUNTING POLICIES (CONTINUED)

 
1.13

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.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 5 (2022 - 1).


3.


TANGIBLE FIXED ASSETS





Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2022
34,503
35,701
1,162
71,366


Additions
-
6,399
-
6,399


Disposals
-
(13,800)
-
(13,800)



At 28 February 2023
34,503
28,300
1,162
63,965



Depreciation


At 1 March 2022
25,400
18,511
973
44,884


Charge for the year on owned assets
1,365
4,574
96
6,035


Disposals
-
(10,107)
-
(10,107)



At 28 February 2023
26,765
12,978
1,069
40,812



Net book value



At 28 February 2023
7,738
15,322
93
23,153



At 28 February 2022
9,103
17,190
189
26,482

Page 6

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


DEBTORS

2023
2022
£
£



Trade debtors
32,440
70,815

Other debtors
1,317
-

33,757
70,815



5.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
5,655
57,671

5,655
57,671



6.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,649
10,648

Trade creditors
18,513
22,188

Other taxation and social security
2,010
14,216

Other creditors
116,403
134,325

Accruals and deferred income
4,603
1,651

152,178
183,028



7.


CREDITORS: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
20,717
31,365

20,717
31,365


Page 7

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

8.


LOANS


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,649
10,648


10,649
10,648

Amounts falling due 1-2 years

Bank loans
10,648
10,648


10,648
10,648

Amounts falling due 2-5 years

Bank loans
10,068
20,717


10,068
20,717


31,365
42,013


Page 8

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


FIRST TIME ADOPTION OF FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

Page 9