Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01falseInterior design51falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06775114 2023-03-01 2024-02-29 06775114 2022-03-01 2023-02-28 06775114 2024-02-29 06775114 2023-02-28 06775114 c:Director1 2023-03-01 2024-02-29 06775114 d:PlantMachinery 2023-03-01 2024-02-29 06775114 d:PlantMachinery 2023-02-28 06775114 d:MotorVehicles 2023-03-01 2024-02-29 06775114 d:MotorVehicles 2023-02-28 06775114 d:OfficeEquipment 2023-03-01 2024-02-29 06775114 d:OfficeEquipment 2023-02-28 06775114 d:CurrentFinancialInstruments 2024-02-29 06775114 d:CurrentFinancialInstruments 2023-02-28 06775114 d:Non-currentFinancialInstruments 2024-02-29 06775114 d:Non-currentFinancialInstruments 2023-02-28 06775114 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 06775114 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 06775114 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 06775114 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 06775114 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 06775114 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 06775114 c:FRS102 2023-03-01 2024-02-29 06775114 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 06775114 c:FullAccounts 2023-03-01 2024-02-29 06775114 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06775114 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 06775114









INTERIOR HUB LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
INTERIOR HUB LIMITED
REGISTERED NUMBER: 06775114

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

  

Fixed assets
  

Tangible assets
 3 
18,420
23,152

  
18,420
23,152

Current assets
  

Stocks
  
67,689
67,689

Debtors
 4 
53,212
33,757

Cash at bank and in hand
 5 
7,372
5,655

  
128,273
107,101

Creditors: amounts falling due within one year
 6 
(201,929)
(152,180)

Net current liabilities
  
 
 
(73,656)
 
 
(45,079)

Total assets less current liabilities
  
(55,236)
(21,927)

  

Creditors: amounts falling due after more than one year
 7 
-
(20,714)

  
(55,236)
(42,641)

Provisions for liabilities
  

Deferred taxation
  
(3,500)
(4,942)

  
 
 
(3,500)
 
 
(4,942)

  

Net assets excluding pension asset
  
(58,736)
(47,583)

Net liabilities
  
(58,736)
(47,583)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(58,836)
(47,683)

  
(58,736)
(47,583)

Page 1

 
INTERIOR HUB LIMITED
REGISTERED NUMBER: 06775114
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 August 2024.




Daniel Healey
Director

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.ACCOUNTING POLICIES

 
1.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
1.3

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
1.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.5

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.ACCOUNTING POLICIES (CONTINUED)

 
1.6

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
1.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
1.8

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.ACCOUNTING POLICIES (CONTINUED)


1.8
TANGIBLE FIXED ASSETS (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
15% Reducing balance
Motor vehicles
-
25% Reducing balance
Office equipment
-
33.33% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.9

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
1.10

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.11

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.12

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.ACCOUNTING POLICIES (CONTINUED)

 
1.13

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


2.


EMPLOYEES

2024
2023
£
£

Wages and salaries
74,190
67,303

Cost of defined contribution scheme
2,513
5,630

76,703
72,933


The average monthly number of employees, including directors, during the year was 5 (2023 - 1).

Page 6

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.


TANGIBLE FIXED ASSETS







Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2023
34,503
28,300
1,162
63,965


Additions
5,156
-
-
5,156


Disposals
-
(6,400)
-
(6,400)



At 29 February 2024
39,659
21,900
1,162
62,721



Depreciation


At 1 March 2023
26,765
12,978
1,069
40,812


Charge for the year on owned assets
1,161
3,497
32
4,690


Disposals
-
(1,200)
-
(1,200)



At 29 February 2024
27,926
15,275
1,101
44,302



Net book value



At 29 February 2024
11,733
6,625
61
18,419



At 28 February 2023
7,738
15,322
93
23,153

Page 7

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


DEBTORS

29 February
28 February
2024
2023
£
£



Trade debtors
51,055
32,440

Other debtors
2,157
1,317

53,212
33,757



5.


CASH AND CASH EQUIVALENTS

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
7,372
5,655

7,372
5,655



6.


CREDITORS: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
27,816
10,649

Trade creditors
26,644
18,517

Amounts owed to group undertakings
14,725
-

Other taxation and social security
2,698
2,010

Other creditors
125,859
116,403

Accruals and deferred income
4,187
4,601

201,929
152,180


Page 8

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


CREDITORS: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
-
20,714

-
20,714



8.


LOANS


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
27,816
10,649


27,816
10,649

Amounts falling due 1-2 years

Bank loans
-
10,648


-
10,648

Amounts falling due 2-5 years

Bank loans
-
10,068


-
10,068


27,816
31,365


Page 9

 
INTERIOR HUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


FIRST TIME ADOPTION OF FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

Page 10