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REGISTERED NUMBER: 05468342 (England and Wales)















Unaudited Financial Statements

for the Period 1 December 2021 to 31 May 2023

for

Howson Interiors Limited
T/A
Lakeland Kitchens

Howson Interiors Limited (Registered number: 05468342)
T/A Lakeland Kitchens






Contents of the Financial Statements
for the Period 1 December 2021 to 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Howson Interiors Limited
T/A Lakeland Kitchens

Company Information
for the Period 1 December 2021 to 31 May 2023







DIRECTORS: I Bainbridge
M Hudson





SECRETARY: M Hudson





REGISTERED OFFICE: 14 Wainwrights Yard
Kendal
Cumbria
LA9 4DP





REGISTERED NUMBER: 05468342 (England and Wales)






Howson Interiors Limited (Registered number: 05468342)
T/A Lakeland Kitchens

Balance Sheet
31 May 2023

2023 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,442 6,359
Tangible assets 5 88,747 140,113
92,189 146,472

CURRENT ASSETS
Stocks 27,201 50,000
Debtors 6 69,847 65,069
Prepayments and accrued income - 47,788
Cash at bank and in hand 38,915 32,986
135,963 195,843
CREDITORS
Amounts falling due within one year 7 388,998 344,627
NET CURRENT LIABILITIES (253,035 ) (148,784 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(160,846

)

(2,312

)

CREDITORS
Amounts falling due after more than one
year

8

(24,131

)

(35,980

)

PROVISIONS FOR LIABILITIES - (18,663 )
NET LIABILITIES (184,977 ) (56,955 )

CAPITAL AND RESERVES
Called up share capital 1,500 1,500
Share premium 26,500 26,500
Retained earnings (212,977 ) (84,955 )
(184,977 ) (56,955 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 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.

Howson Interiors Limited (Registered number: 05468342)
T/A Lakeland Kitchens

Balance Sheet - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2023 and were signed on its behalf by:





I Bainbridge - Director


Howson Interiors Limited (Registered number: 05468342)
T/A Lakeland Kitchens

Notes to the Financial Statements
for the Period 1 December 2021 to 31 May 2023

1. STATUTORY INFORMATION

Howson Interiors 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Display stock - 20% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 (2021 - 7 ) .

Howson Interiors Limited (Registered number: 05468342)
T/A Lakeland Kitchens

Notes to the Financial Statements - continued
for the Period 1 December 2021 to 31 May 2023

4. INTANGIBLE FIXED ASSETS
Goodwill Website Totals
£    £    £   
COST
At 1 December 2021
and 31 May 2023 21,000 2,684 23,684
AMORTISATION
At 1 December 2021 17,325 - 17,325
Amortisation for period 1,575 1,342 2,917
At 31 May 2023 18,900 1,342 20,242
NET BOOK VALUE
At 31 May 2023 2,100 1,342 3,442
At 30 November 2021 3,675 2,684 6,359

5. TANGIBLE FIXED ASSETS
Short Display Plant and
leasehold stock machinery
£    £    £   
COST
At 1 December 2021 55,355 155,429 47,215
Additions 599 - 363
Disposals - (4,322 ) -
At 31 May 2023 55,954 151,107 47,578
DEPRECIATION
At 1 December 2021 14,117 96,327 11,419
Charge for period 8,393 33,244 7,136
At 31 May 2023 22,510 129,571 18,555
NET BOOK VALUE
At 31 May 2023 33,444 21,536 29,023
At 30 November 2021 41,238 59,102 35,796

Howson Interiors Limited (Registered number: 05468342)
T/A Lakeland Kitchens

Notes to the Financial Statements - continued
for the Period 1 December 2021 to 31 May 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2021 656 12,995 8,992 280,642
Additions 2,656 - - 3,618
Disposals - - - (4,322 )
At 31 May 2023 3,312 12,995 8,992 279,938
DEPRECIATION
At 1 December 2021 391 9,283 8,992 140,529
Charge for period 497 1,392 - 50,662
At 31 May 2023 888 10,675 8,992 191,191
NET BOOK VALUE
At 31 May 2023 2,424 2,320 - 88,747
At 30 November 2021 265 3,712 - 140,113

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade debtors 69,847 64,569
Other debtors - 500
69,847 65,069

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Bank loans and overdrafts 10,000 45,860
Hire purchase contracts - 3,025
Payments on account - 55,098
Trade creditors 134,186 178,393
Tax - 9,486
Social security and other taxes 1,645 (139 )
VAT 13,810 40,029
Pension 308 421
Associated company 200,076 -
Credit card (68 ) 1,854
Accruals and deferred income 29,041 10,600
388,998 344,627

Howson Interiors Limited (Registered number: 05468342)
T/A Lakeland Kitchens

Notes to the Financial Statements - continued
for the Period 1 December 2021 to 31 May 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2021
£    £   
Bank loans - 1-2 years 10,000 35,653
Bank loans - 2-5 years 14,131 -
Hire purchase contracts - 327
24,131 35,980