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Registration number: 08843400

Haus Design Retail Ltd

Unaudited Filleted Financial Statements

for the Period from 29 January 2023 to 27 January 2024

 

Haus Design Retail Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Haus Design Retail Ltd

Company Information

Directors

Mr A Tye

Mrs L Tye

Registered office

39 Morpeth Road
London
E9 7LD

Accountants

Perk Accounting Ltd
Office, 31 Cattle Market Street
Norwich
Norfolk
NR1 3DY

 

Haus Design Retail Ltd

(Registration number: 08843400)
Balance Sheet as at 27 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

24,558

29,091

Tangible assets

5

22,509

8,400

 

47,067

37,491

Current assets

 

Stocks

6

26,252

28,632

Debtors

7

115,844

182,251

Cash at bank and in hand

 

178,427

249,450

 

320,523

460,333

Creditors: Amounts falling due within one year

8

(255,092)

(316,692)

Net current assets

 

65,431

143,641

Total assets less current liabilities

 

112,498

181,132

Provisions for liabilities

(1,596)

(1,596)

Net assets

 

110,902

179,536

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

110,900

179,534

Shareholders' funds

 

110,902

179,536

For the financial period ending 27 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.

Approved and authorised by the Board on 23 January 2025 and signed on its behalf by:
 

 

Haus Design Retail Ltd

(Registration number: 08843400)
Balance Sheet as at 27 January 2024

.........................................
Mr A Tye
Director

 

Haus Design Retail Ltd

Notes to the Unaudited Financial Statements for the Period from 29 January 2023 to 27 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:
39 Morpeth Road
London
E9 7LD

These financial statements were authorised for issue by the Board on 23 January 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Haus Design Retail Ltd

Notes to the Unaudited Financial Statements for the Period from 29 January 2023 to 27 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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:

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:

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.

 

Haus Design Retail Ltd

Notes to the Unaudited Financial Statements for the Period from 29 January 2023 to 27 January 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 4 (2023 - 4).

 

Haus Design Retail Ltd

Notes to the Unaudited Financial Statements for the Period from 29 January 2023 to 27 January 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 29 January 2023

68,000

68,000

At 27 January 2024

68,000

68,000

Amortisation

At 29 January 2023

38,909

38,909

Amortisation charge

4,533

4,533

At 27 January 2024

43,442

43,442

Carrying amount

At 27 January 2024

24,558

24,558

At 28 January 2023

29,091

29,091

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 29 January 2023

24,574

20,552

45,126

Additions

889

25,499

26,388

Disposals

(2,114)

(20,272)

(22,386)

At 27 January 2024

23,349

25,779

49,128

Depreciation

At 29 January 2023

19,143

17,584

36,727

Charge for the period

2,143

5,853

7,996

Eliminated on disposal

(763)

(17,341)

(18,104)

At 27 January 2024

20,523

6,096

26,619

Carrying amount

At 27 January 2024

2,826

19,683

22,509

At 28 January 2023

5,432

2,968

8,400

 

Haus Design Retail Ltd

Notes to the Unaudited Financial Statements for the Period from 29 January 2023 to 27 January 2024

6

Stocks

2024
£

2023
£

Other inventories

26,252

28,632

7

Debtors

Current

2024
£

2023
£

Trade debtors

14,491

62,865

Other debtors

101,353

119,386

 

115,844

182,251

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

97,970

272,489

Taxation and social security

115,802

43,780

Other creditors

41,320

423

255,092

316,692

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2