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REGISTERED NUMBER: 05468342 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

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 Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Howson Interiors Limited
T/A Lakeland Kitchens

Company Information
for the Year Ended 31 May 2024







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 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 3,442
Tangible assets 5 25,051 88,747
25,051 92,189

CURRENT ASSETS
Stocks - 27,201
Debtors 6 - 69,847
Cash at bank and in hand 1 38,915
1 135,963
CREDITORS
Amounts falling due within one year 7 64,298 388,998
NET CURRENT LIABILITIES (64,297 ) (253,035 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(39,246

)

(160,846

)

CREDITORS
Amounts falling due after more than one
year

8

25,038

24,131
NET LIABILITIES (64,284 ) (184,977 )

CAPITAL AND RESERVES
Called up share capital 1,500 1,500
Share premium 26,500 26,500
Retained earnings (92,284 ) (212,977 )
(64,284 ) (184,977 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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 2024


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 25 September 2024 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 Year Ended 31 May 2024

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 - 15% 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 year was 1 (2023 - 8 ) .

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

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. INTANGIBLE FIXED ASSETS
Goodwill Website Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 21,000 2,684 23,684
AMORTISATION
At 1 June 2023 18,900 1,342 20,242
Amortisation for year 2,100 1,342 3,442
At 31 May 2024 21,000 2,684 23,684
NET BOOK VALUE
At 31 May 2024 - - -
At 31 May 2023 2,100 1,342 3,442

5. TANGIBLE FIXED ASSETS
Short Display Plant and
leasehold stock machinery
£    £    £   
COST
At 1 June 2023 55,954 151,107 47,578
Disposals - (151,107 ) (47,578 )
At 31 May 2024 55,954 - -
DEPRECIATION
At 1 June 2023 22,510 129,571 18,555
Charge for year 8,393 - -
Eliminated on disposal - (129,571 ) (18,555 )
At 31 May 2024 30,903 - -
NET BOOK VALUE
At 31 May 2024 25,051 - -
At 31 May 2023 33,444 21,536 29,023

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

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 3,312 12,995 8,992 279,938
Disposals (3,312 ) (12,995 ) - (214,992 )
At 31 May 2024 - - 8,992 64,946
DEPRECIATION
At 1 June 2023 888 10,675 8,992 191,191
Charge for year - 580 - 8,973
Eliminated on disposal (888 ) (11,255 ) - (160,269 )
At 31 May 2024 - - 8,992 39,895
NET BOOK VALUE
At 31 May 2024 - - - 25,051
At 31 May 2023 2,424 2,320 - 88,747

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 69,847

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,315 10,000
Trade creditors 4,568 134,186
Amounts owed to associates 16,011 -
Tax 29,174 -
Social security and other taxes 2,073 1,645
VAT 2,096 13,810
Pension - 308
Associated company - 200,076
Credit card - (68 )
Accruals and deferred income 61 29,041
64,298 388,998

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 4,550 10,000
Bank loans - 2-5 years 13,650 14,131
Bank loans more 5 yr by instal 6,838 -
25,038 24,131

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

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,838 -