South Liverpool Interiors Ltd 14575606 false 2023-01-06 2024-01-31 2024-01-31 The principal activity of the company is Other building completion and finishing. Digita Accounts Production Advanced 6.30.9574.0 true 14575606 2023-01-06 2024-01-31 14575606 2024-01-31 14575606 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-01-31 14575606 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-01-31 14575606 core:CurrentFinancialInstruments 2024-01-31 14575606 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 14575606 core:Non-currentFinancialInstruments 2024-01-31 14575606 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 14575606 core:Goodwill 2024-01-31 14575606 core:FurnitureFittingsToolsEquipment 2024-01-31 14575606 core:MotorVehicles 2024-01-31 14575606 bus:SmallEntities 2023-01-06 2024-01-31 14575606 bus:AuditExemptWithAccountantsReport 2023-01-06 2024-01-31 14575606 bus:FullAccounts 2023-01-06 2024-01-31 14575606 bus:SmallCompaniesRegimeForAccounts 2023-01-06 2024-01-31 14575606 bus:RegisteredOffice 2023-01-06 2024-01-31 14575606 bus:Director1 2023-01-06 2024-01-31 14575606 bus:Director2 2023-01-06 2024-01-31 14575606 bus:PrivateLimitedCompanyLtd 2023-01-06 2024-01-31 14575606 core:Goodwill 2023-01-06 2024-01-31 14575606 core:LicencesFranchises 2023-01-06 2024-01-31 14575606 core:FurnitureFittingsToolsEquipment 2023-01-06 2024-01-31 14575606 core:MotorVehicles 2023-01-06 2024-01-31 14575606 core:OfficeEquipment 2023-01-06 2024-01-31 14575606 countries:EnglandWales 2023-01-06 2024-01-31 iso4217:GBP xbrli:pure

Registration number: 14575606

South Liverpool Interiors Ltd

Annual Report and Unaudited Financial Statements

for the Period from 6 January 2023 to 31 January 2024

 

South Liverpool Interiors Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

South Liverpool Interiors Ltd

(Registration number: 14575606)
Balance Sheet as at 31 January 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

18,480

Tangible assets

5

11,890

 

30,370

Current assets

 

Debtors

6

13,528

Cash at bank and in hand

 

14,361

 

27,889

Creditors: Amounts falling due within one year

7

(63,949)

Net current liabilities

 

(36,060)

Total assets less current liabilities

 

(5,690)

Creditors: Amounts falling due after more than one year

7

(60,320)

Net liabilities

 

(66,010)

Capital and reserves

 

Called up share capital

2

Retained earnings

(66,012)

Shareholders' deficit

 

(66,010)

For the financial period ending 31 January 2024 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

South Liverpool Interiors Ltd

(Registration number: 14575606)
Balance Sheet as at 31 January 2024

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

.........................................
Mr Dominic Luke McGuinness
Director

.........................................
Miss Jill Avis
Director

 
     
 

South Liverpool Interiors Ltd

Notes to the Unaudited Financial Statements for the Period from 6 January 2023 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
64 Allerton Road
Liverpool
L18 1LW
England

These financial statements were authorised for issue by the Board on 24 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

 

South Liverpool Interiors Ltd

Notes to the Unaudited Financial Statements for the Period from 6 January 2023 to 31 January 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise Fee

20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

South Liverpool Interiors Ltd

Notes to the Unaudited Financial Statements for the Period from 6 January 2023 to 31 January 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

South Liverpool Interiors Ltd

Notes to the Unaudited Financial Statements for the Period from 6 January 2023 to 31 January 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

23,100

23,100

At 31 January 2024

23,100

23,100

Amortisation

Amortisation charge

4,620

4,620

At 31 January 2024

4,620

4,620

Carrying amount

At 31 January 2024

18,480

18,480

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

1,271

14,583

15,854

At 31 January 2024

1,271

14,583

15,854

Depreciation

Charge for the period

318

3,646

3,964

At 31 January 2024

318

3,646

3,964

Carrying amount

At 31 January 2024

953

10,937

11,890

6

Debtors

Current

2024
£

Trade debtors

4,008

Prepayments

9,520

 

13,528

 

South Liverpool Interiors Ltd

Notes to the Unaudited Financial Statements for the Period from 6 January 2023 to 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

8

6,090

Trade creditors

 

6,376

Taxation and social security

 

2,485

Accruals and deferred income

 

955

Other creditors

 

48,043

 

63,949

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £6,090.

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

8

60,320

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £60,320.

8

Loans and borrowings

2024
£

Non-current loans and borrowings

Bank borrowings

48,620

Hire purchase contracts

11,700

60,320

2024
£

Current loans and borrowings

Bank borrowings

3,190

Hire purchase contracts

2,900

6,090