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Registered number: 06887242
Indesign Furniture Limited
Financial Statements
For The Year Ended 31 December 2023
Clairwood Accounting LLP
19 Napier House
Elva Way
Bexhill-on-Sea
East Sussex
TN39 5BF
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06887242
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,739 12,023
8,739 12,023
CURRENT ASSETS
Stocks 5 3,550 3,550
Debtors 6 312,883 162,702
Cash at bank and in hand 50,035 130,380
366,468 296,632
Creditors: Amounts Falling Due Within One Year 7 (450,732 ) (278,475 )
NET CURRENT ASSETS (LIABILITIES) (84,264 ) 18,157
TOTAL ASSETS LESS CURRENT LIABILITIES (75,525 ) 30,180
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,185 ) (2,285 )
NET (LIABILITIES)/ASSETS (77,710 ) 27,895
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (77,810 ) 27,795
SHAREHOLDERS' FUNDS (77,710) 27,895
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
N D Buckley-Jensen
Director
26 September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Indesign Furniture Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06887242 . The registered office is 19 Napier House, Elva Way, Bexhill-on-Sea, East Sussex, TN39 5BF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% of the written down value
Motor Vehicles 25% of the written down value
Computer Equipment 33% of the original cost
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 4 3
Sales, marketing and distribution 5 3
9 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 39,123 24,661 28,781 92,565
Additions 769 - 1,955 2,724
As at 31 December 2023 39,892 24,661 30,736 95,289
Depreciation
As at 1 January 2023 35,718 21,003 23,821 80,542
Provided during the period 1,377 915 3,716 6,008
As at 31 December 2023 37,095 21,918 27,537 86,550
Net Book Value
As at 31 December 2023 2,797 2,743 3,199 8,739
As at 1 January 2023 3,405 3,658 4,960 12,023
5. Stocks
2023 2022
£ £
Stock - furniture 3,550 3,550
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 251,807 72,723
Prepayments and accrued income 10,455 8,631
Other debtors 36,665 76,003
RDC Rent deposit 915 915
VAT 12,041 4,430
311,883 162,702
Due after more than one year
Corporation tax recoverable assets 1,000 -
1,000 -
312,883 162,702
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 190,483 81,046
Corporation tax - 1,000
Other taxes and social security 4,694 6,423
Net wages - 1,319
Other creditors - under one year 357 103,358
Accruals 89,734 32,093
Director's loan account 165,464 53,236
450,732 278,475
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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