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Registered Number: 14136446
England and Wales

 

 

 

USEFUL INTERIORS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Director Daniel Rusha
Registered Number 14136446
Registered Office Unit 10 Clayfield Mews
Newcomen Road
Tunbridge Wells
Kent
TN4 9PA
Accountants OMB Tax Limited
Unit 10, Clayfield Mews
Newcomen Road
Tunbridge Wells
TN4 9PA
1
Director's report and financial statements
The director presents his annual report and the financial statements for the year ended 31 May 2024.
Principal activities
The principal activity of the Company during the financial year was the sourcing of used office furniture, its restoration and resale.
Director
The director who served throughout the year was as follows:
Daniel Rusha
Statement of director's responsibilities
The director is responsible for preparing his report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.  Company law requires the director to prepare financial statements for each financial year.  Under that law he has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102).  He must not approve the financial statements unless satisfied that they give a true and fair view of the state of affairs of the Company and the profit or loss of the Company for that period.

In preparing these financial statements, the director is required to:

- Select suitable accounting policies and then apply them consistently;
- Make judgements and accounting estimates that are reasonable and prudent;
- State whether applicable UK Accounting Standards have been followed (subject to any material departures disclosed); and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume continuation.

The director is also responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable him to ensure that the financial statements comply with the Companies Act 2006.  He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.  The director is also responsible for the maintenance and integrity of the corporate and financial information included on the Company's website.

Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Daniel Rusha
Director

Date approved: 06 January 2025
2
You consider that the Company is exempt from an audit for the year ended 31 May 2024.

You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the Company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the accounting records of the Company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently, we do not express any opinion on these accounts.



OMB Tax Limited

Unit 10, Clayfield Mews
Newcomen Road
Tunbridge Wells
TN4 9PA
06 January 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 5,479   
5,479   
Current assets      
Stocks 4 4,270   
Debtors 5 20,718    51,275 
Cash at bank and in hand 5,628   
30,616    51,275 
Creditors: amount falling due within one year 6 (35,025)   (58,407)
Net current assets (4,409)   (7,132)
 
Total assets less current liabilities 1,070    (7,132)
Net assets 1,070    (7,132)
 

Capital and reserves
     
Called up share capital 7 1   
Profit and loss account 1,069    (7,132)
Shareholders' funds 1,070    (7,132)
 


For the year ended 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 06 January 2025 and were signed by:


-------------------------------
Daniel Rusha
Director
4
General Information
Useful Interiors Limited is a private company, limited by shares, registered in England and Wales, under 14136446, at Unit 10 Clayfield Mews, Newcomen Road, Tunbridge Wells, Kent, TN4 9PA.  
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland specifically section 1A 'Smaller Entities', and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared on the going concern basis and under the historical cost convention in accordance with the accounting policies. The presentation currency is £ sterling, which is also the operational currency of the Company.
Going concern basis
The director believes the Company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully.  Accordingly, he has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.  Thus, he continues to adopt the going concern basis of accounting in preparing these financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the Company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable recognised in the Profit and Loss account. No provision is made for deferred tax.  The Company's liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.  Current tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment.  Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Van 18% Reducing Balance
Computer equipment 18% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Van   Computer equipment   Total
  £   £   £
At 01 June 2023    
Additions 5,250    1,431    6,681 
Disposals    
At 31 May 2024 5,250    1,431    6,681 
Depreciation
At 01 June 2023    
Charge for year 945    257    1,202 
On disposals    
At 31 May 2024 945    257    1,202 
Net book values
Closing balance as at 31 May 2024 4,305    1,174    5,479 
Opening balance as at 01 June 2023    


4.

Stocks

2024
£
  2023
£
Stocks 4,270   
4,270   

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade debtors 20,718    51,275 
20,718    51,275 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Other Creditors 35,025    58,407 
35,025    58,407 

7.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Ordinary share of £1.00 each  
 

5