Registered number
10459696
Interior Fittings UK Ltd
Filleted Accounts
30 April 2023
Interior Fittings UK Ltd
Registered number: 10459696
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,891 1,897
Current assets
Debtors 4 50,602 21,410
Cash at bank and in hand 43,098 10,266
93,700 31,676
Creditors: amounts falling due within one year 5 (97,919) (73,197)
Net current liabilities (4,219) (41,521)
Total assets less current liabilities 672 (39,624)
Creditors: amounts falling due after more than one year 6 (41,126) (46,653)
Net liabilities (40,454) (86,277)
Capital and reserves
Called up share capital 1 1
Profit and loss account (40,455) (86,278)
Shareholders' funds (40,454) (86,277)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Andrei Silviu Piciu
Director
Approved by the board on 15 November 2023
Interior Fittings UK Ltd
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 May 2022 7,995
Additions 4,625
At 30 April 2023 12,620
Depreciation
At 1 May 2022 6,098
Charge for the year 1,631
At 30 April 2023 7,729
Net book value
At 30 April 2023 4,891
At 30 April 2022 1,897
4 Debtors 2023 2022
£ £
Trade debtors 11,417 15,299
Subcontractor advances 8,829 5,629
Directors' Account 22,869 482
P.A.Y.E 7,487 -
50,602 21,410
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - (131)
VAT Payable 96,972 59,134
PAYE & NI - 13,247
Pension fund 1,025 1,025
Corporation Tax (78) (78)
97,919 73,197
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 38,797 41,324
Obligations under finance lease and hire purchase contracts 2,329 5,329
41,126 46,653
7 Other information
Interior Fittings UK Ltd is a private company limited by shares and incorporated in England. Its registered office is:
229 Carr Road
Northolt
UB5 4RL
Interior Fittings UK Ltd 10459696 false 2022-05-01 2023-04-30 2023-04-30 VT Final Accounts April 2022 Andrei Silviu Piciu No description of principal activity 10459696 2021-05-01 2022-04-30 10459696 core:WithinOneYear 2022-04-30 10459696 core:AfterOneYear 2022-04-30 10459696 core:ShareCapital 2022-04-30 10459696 core:RetainedEarningsAccumulatedLosses 2022-04-30 10459696 2022-05-01 2023-04-30 10459696 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 10459696 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 10459696 bus:Director40 2022-05-01 2023-04-30 10459696 1 2022-05-01 2023-04-30 10459696 2 2022-05-01 2023-04-30 10459696 core:Vehicles 2022-05-01 2023-04-30 10459696 countries:England 2022-05-01 2023-04-30 10459696 bus:FRS102 2022-05-01 2023-04-30 10459696 bus:FullAccounts 2022-05-01 2023-04-30 10459696 2023-04-30 10459696 core:WithinOneYear 2023-04-30 10459696 core:AfterOneYear 2023-04-30 10459696 core:ShareCapital 2023-04-30 10459696 core:RetainedEarningsAccumulatedLosses 2023-04-30 10459696 core:Vehicles 2023-04-30 10459696 2022-04-30 10459696 core:Vehicles 2022-04-30 iso4217:GBP xbrli:pure