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REGISTERED NUMBER: 02532025 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

INTERIOR PROJECTS (SOUTHERN) LIMITED

INTERIOR PROJECTS (SOUTHERN) LIMITED (REGISTERED NUMBER: 02532025)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


INTERIOR PROJECTS (SOUTHERN) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: Mr C Storer





REGISTERED OFFICE: Unit 1 Burstow Park Business Centre
Antlands Lane
Horley
Surrey
RH6 9TF





REGISTERED NUMBER: 02532025 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

INTERIOR PROJECTS (SOUTHERN) LIMITED (REGISTERED NUMBER: 02532025)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 21,225 28,087
21,226 28,088

CURRENT ASSETS
Stocks 6 875 875
Debtors 7 32,831 8,053
Cash at bank 38,162 1,278
71,868 10,206
CREDITORS
Amounts falling due within one year 8 42,473 22,585
NET CURRENT ASSETS/(LIABILITIES) 29,395 (12,379 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,621

15,709

PROVISIONS FOR LIABILITIES 9 5,306 5,337
NET ASSETS 45,315 10,372

CAPITAL AND RESERVES
Called up share capital 10 500 400
Retained earnings 44,815 9,972
SHAREHOLDERS' FUNDS 45,315 10,372

INTERIOR PROJECTS (SOUTHERN) LIMITED (REGISTERED NUMBER: 02532025)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2023


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

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

The director acknowledges his 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 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 director and authorised for issue on 26 August 2024 and were signed by:





Mr C Storer - Director


INTERIOR PROJECTS (SOUTHERN) LIMITED (REGISTERED NUMBER: 02532025)

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


1. STATUTORY INFORMATION

Interior Projects (Southern) 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 represents net invoiced sales of goods excluding value added tax.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 1990, is being amortised evenly over its estimated useful life of five years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

INTERIOR PROJECTS (SOUTHERN) LIMITED (REGISTERED NUMBER: 02532025)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 December 2022
and 30 November 2023 3,400
Amortisation
At 1 December 2022
and 30 November 2023 3,399
Net book value
At 30 November 2023 1
At 30 November 2022 1

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 December 2022 1,124 8,458 48,966 - 58,548
Additions - - - 141 141
At 30 November 2023 1,124 8,458 48,966 141 58,689
Depreciation
At 1 December 2022 1,013 8,309 21,139 - 30,461
Charge for year 17 22 6,957 7 7,003
At 30 November 2023 1,030 8,331 28,096 7 37,464
Net book value
At 30 November 2023 94 127 20,870 134 21,225
At 30 November 2022 111 149 27,827 - 28,087

6. STOCKS
30.11.23 30.11.22
£    £   
Finished goods 875 875

INTERIOR PROJECTS (SOUTHERN) LIMITED (REGISTERED NUMBER: 02532025)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 31,560 7,148
Other debtors 1,271 905
32,831 8,053

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 644 1,179
Taxation and social security 19,426 1,109
Other creditors 22,403 20,297
42,473 22,585

9. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 5,306 5,337

Deferred
tax
£   
Balance at 1 December 2022 5,337
Utilised during year (31 )
provision for the year
Balance at 30 November 2023 5,306

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
400 Ordinary £1 400 400
50 Ordinary A £1 50 -
50 Ordinary A £1 50 -
500 400

The following shares were allotted and fully paid for cash at par during the year:

50 Ordinary A shares of £1 each
50 Ordinary A shares of £1 each