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REGISTERED NUMBER: 02611560 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

THE IN-HOUSE DESIGN COMPANY LIMITED

THE IN-HOUSE DESIGN COMPANY LIMITED (REGISTERED NUMBER: 02611560)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE IN-HOUSE DESIGN COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: A J Knight
Mrs J M Eager





SECRETARY: Mrs J M Eager





REGISTERED OFFICE: 11 Holland Business Park
Holland Way
Blandford
Dorset
DT11 7BJ





REGISTERED NUMBER: 02611560 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St Ann Street
Salisbury
SP1 2DR

THE IN-HOUSE DESIGN COMPANY LIMITED (REGISTERED NUMBER: 02611560)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 338,362 233,103

CURRENT ASSETS
Stocks 2,377 904
Debtors 5 84,239 63,455
Cash at bank 27,580 95,380
114,196 159,739
CREDITORS
Amounts falling due within one year 6 139,169 76,459
NET CURRENT (LIABILITIES)/ASSETS (24,973 ) 83,280
TOTAL ASSETS LESS CURRENT LIABILITIES 313,389 316,383

CREDITORS
Amounts falling due after more than one
year

7

29,831

29,961
NET ASSETS 283,558 286,422

CAPITAL AND RESERVES
Called up share capital 8 5,000 5,000
Retained earnings 278,558 281,422
SHAREHOLDERS' FUNDS 283,558 286,422

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THE IN-HOUSE DESIGN COMPANY LIMITED (REGISTERED NUMBER: 02611560)

BALANCE SHEET - continued
30 JUNE 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2023 and were signed on its behalf by:





Mrs J M Eager - Director


THE IN-HOUSE DESIGN COMPANY LIMITED (REGISTERED NUMBER: 02611560)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

The In-House Design Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis which is thought to be appropriate because the directors intend to provide additional funds to meet the company's liabilities as they fall due. The financial statements do not contain any adjustments that might be necessary if the additional funds were not available.

The financial statements are presented in Sterling (£) which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents net invoiced sales of goods and services including rentals receivable under operating leases, excluding value added tax.

Rental income from operating leases is recognised on a straight-line basis over the period of the lease.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture leased to clients - 33% on cost
Furniture, fixtures and equipment - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. Repair, renovation and replacement expenditure is written off as expenditure in the profit and loss account. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition.

Assets held for use in operating leases are recorded as fixed assets and depreciated over their useful lives.

Stocks
Stocks of furnishings and accessories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress is valued at the cost of furnishings and accessories used on contracts.


THE IN-HOUSE DESIGN COMPANY LIMITED (REGISTERED NUMBER: 02611560)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Debtors
Debtors are measured at their recoverable amount.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

THE IN-HOUSE DESIGN COMPANY LIMITED (REGISTERED NUMBER: 02611560)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 505,836
Additions 199,673
Disposals (77,982 )
At 30 June 2023 627,527
DEPRECIATION
At 1 July 2022 272,733
Charge for year 80,111
Eliminated on disposal (63,679 )
At 30 June 2023 289,165
NET BOOK VALUE
At 30 June 2023 338,362
At 30 June 2022 233,103

Included within motor vehicles are assets with a total net book value of £11,280 (2022: £14,100) that are held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 40,391 13,560
Other debtors 43,848 49,895
84,239 63,455

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 4,955 4,955
Trade creditors 43,732 25,795
Taxation and social security 35,908 33,639
Other creditors 54,574 12,070
139,169 76,459

THE IN-HOUSE DESIGN COMPANY LIMITED (REGISTERED NUMBER: 02611560)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 4,965 9,919
Other creditors 24,866 20,042
29,831 29,961

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,000 Ordinary £1 5,000 5,000

9. RELATED PARTY DISCLOSURES

Creditors due within one year include £24,866 (2022 - £20,042) which is owed to the directors of the company.