Company registration number 11971281 (England and Wales)
DELUXE HOME DESIGNS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
Ridehalgh Limited
Chartered Accountants
Guardian House
42 Preston New Road
Blackburn
Lancashire
BB2 6AH
DELUXE HOME DESIGNS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
DELUXE HOME DESIGNS LTD
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,304
3,990
Current assets
Stocks
40,000
51,000
Debtors
1,880
Cash at bank and in hand
241
7
42,121
51,007
Creditors: amounts falling due within one year
(63,504)
(42,932)
Net current (liabilities)/assets
(21,383)
8,075
Total assets less current liabilities
(17,079)
12,065
Creditors: amounts falling due after more than one year
(14,353)
(17,131)
Net liabilities
(31,432)
(5,066)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(31,433)
(5,067)
Total equity
(31,432)
(5,066)
DELUXE HOME DESIGNS LTD
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 30 January 2025 and are signed on its behalf by:
Mr S Khan
Director
Company registration number 11971281 (England and Wales)
DELUXE HOME DESIGNS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
Deluxe Home Designs Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Guardian House, 42 Preston New Road, Blackburn, Lancashire, BB2 6AH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company currently reports negative equity due to accumulated losses. However, the director htrueas provided assurances of continued financial support, ensuring the company remains a going concern.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% per annum reducing balance
Motor vehicles
25% per annum reducing balance
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.6
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are recognised at amortised cost..
Basic financial liabilities
Basic financial liabilities, including creditorsand bank loans, are recognised at amortised cost
DELUXE HOME DESIGNS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Total
£
Cost
At 1 May 2023
5,000
Additions
1,234
At 30 April 2024
6,234
Depreciation and impairment
At 1 May 2023
1,010
Depreciation charged in the year
920
At 30 April 2024
1,930
Carrying amount
At 30 April 2024
4,304
At 30 April 2023
3,990
DELUXE HOME DESIGNS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
4
Related party transactions
Transactions with related parties
Within Other Creditors is an amount of £30,429 (2023: £37,000) owed to Sling UK Limited, a company in which the Director, Mr Salam Khan, has a controlling interest. No interest has been charged and there are no specific terms for repayment.