Registered number
04593109
David High Interiors Ltd
Unaudited Filleted Accounts
30 April 2024
David High Interiors Ltd
Registered number: 04593109
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 30,318 11,789
Current assets
Stocks 500 500
Debtors 4 7,412 8,732
Cash at bank and in hand 3,269 32,062
11,181 41,294
Creditors: amounts falling due within one year 5 (47,158) (57,481)
Net current liabilities (35,977) (16,187)
Total assets less current liabilities (5,659) (4,398)
Creditors: amounts falling due after more than one year 6 (15,369) (17,999)
Net liabilities (21,028) (22,397)
Capital and reserves
Called up share capital 1 1
Profit and loss account (21,029) (22,398)
Shareholder's funds (21,028) (22,397)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D High
Director
Approved by the board on 16 January 2025
David High Interiors Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). These accounts have been prepared on the going concern basis as the director has expressed his willingness to provide continued support as disclosed in note 7.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance basis
Fixtures, fittings, tools and equipment 20% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 23,259 22,043 45,302
Additions 1,338 26,667 28,005
Disposals - (12,758) (12,758)
At 30 April 2024 24,597 35,952 60,549
Depreciation
At 1 May 2023 16,000 17,513 33,513
Charge for the year 1,592 5,057 6,649
On disposals - (9,931) (9,931)
At 30 April 2024 17,592 12,639 30,231
Net book value
At 30 April 2024 7,005 23,313 30,318
At 30 April 2023 7,259 4,530 11,789
4 Debtors 2024 2023
£ £
Trade debtors 75 -
Other debtors 7,337 8,732
7,412 8,732
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,000 3,000
Taxation and social security costs 235 268
Other creditors 43,923 54,213
47,158 57,481
Included in other creditors is an amount owed to the director of £52,468 (2022 - £56,868).
No interest is charged by the director nor are there any terms of repayment in place.
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,369 17,999
7 Other information
David High Interiors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
48 Bankside Close
Ryhope
Sunderland
Tyne & Wear
SR2 0AN
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