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Company registration number: 01470699
Sachelle Interior Designs Ltd
Unaudited filleted financial statements
30 September 2023
Sachelle Interior Designs Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Sachelle Interior Designs Ltd
Directors and other information
Directors S Ezekiel
R Ezekiel
Secretary R Ezekiel
Company number 01470699
Registered office Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Sachelle Interior Designs Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Sachelle Interior Designs Ltd
Year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sachelle Interior Designs Ltd for the year ended 30 September 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Sachelle Interior Designs Ltd, as a body, in accordance with the terms of our engagement letter dated 9 June 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Sachelle Interior Designs Ltd and state those matters that we have agreed to state to the board of directors of Sachelle Interior Designs Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sachelle Interior Designs Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Sachelle Interior Designs Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sachelle Interior Designs Ltd. You consider that Sachelle Interior Designs Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Sachelle Interior Designs Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
5 August 2024
Sachelle Interior Designs Ltd
Statement of financial position
30 September 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 11,892 15,856
_______ _______
11,892 15,856
Current assets
Debtors 6 40,691 8,539
Cash at bank and in hand 218,862 285,288
_______ _______
259,553 293,827
Creditors: amounts falling due
within one year 7 ( 141,983) ( 159,761)
_______ _______
Net current assets 117,570 134,066
_______ _______
Total assets less current liabilities 129,462 149,922
Provisions for liabilities ( 2,300) -
_______ _______
Net assets 127,162 149,922
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 127,062 149,822
_______ _______
Shareholders funds 127,162 149,922
_______ _______
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 August 2024 , and are signed on behalf of the board by:
S Ezekiel
Director
Company registration number: 01470699
Sachelle Interior Designs Ltd
Notes to the financial statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, Hertfordshire, AL5 4EE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
Computer equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised retrospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Computer equipment Total
£ £ £ £ £
Cost
At 1 October 2022 and 30 September 2023 14,091 2,562 22,889 5,098 44,640
_______ _______ _______ _______ _______
Depreciation
At 1 October 2022 14,042 1,121 10,014 3,607 28,784
Charge for the year 12 360 3,219 373 3,964
_______ _______ _______ _______ _______
At 30 September 2023 14,054 1,481 13,233 3,980 32,748
_______ _______ _______ _______ _______
Carrying amount
At 30 September 2023 37 1,081 9,656 1,118 11,892
_______ _______ _______ _______ _______
At 30 September 2022 49 1,441 12,875 1,491 15,856
_______ _______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 40,691 8,539
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 33,334 72,675
Corporation tax 8,315 15,546
Social security and other taxes 9,529 10,465
Other creditors 90,805 61,075
_______ _______
141,983 159,761
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
S Ezekiel ( 59,575) ( 29,730) ( 89,305)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
S Ezekiel ( 37,730) ( 21,845) ( 59,575)
_______ _______ _______