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REGISTERED NUMBER: 13368202 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30th April 2024

for

Bare Interiors Limited

Bare Interiors Limited (Registered number: 13368202)






Contents of the Financial Statements
for the year ended 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Bare Interiors Limited

Company Information
for the year ended 30th April 2024







DIRECTORS: Mr P Preston
Mr S A Noga





REGISTERED OFFICE: Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE





REGISTERED NUMBER: 13368202 (England and Wales)





ACCOUNTANTS: Robin Oatridge & Co Limited
Chartered Certified Accountants
Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE

Bare Interiors Limited (Registered number: 13368202)

Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,873 17,373

CURRENT ASSETS
Stocks 84,095 85,996
Debtors 5 56,879 47,372
Cash at bank 4,364 7,535
145,338 140,903
CREDITORS
Amounts falling due within one year 6 239,430 168,208
NET CURRENT LIABILITIES (94,092 ) (27,305 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(80,219

)

(9,932

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (80,319 ) (10,032 )
SHAREHOLDERS' FUNDS (80,219 ) (9,932 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st January 2025 and were signed on its behalf by:





Mr P Preston - Director


Bare Interiors Limited (Registered number: 13368202)

Notes to the Financial Statements
for the year ended 30th April 2024

1. STATUTORY INFORMATION

Bare Interiors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Bare Interiors Limited (Registered number: 13368202)

Notes to the Financial Statements - continued
for the year ended 30th April 2024

2. ACCOUNTING POLICIES - continued

Going concern
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for the twelve months from the date of signing these financial accounts.

On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in the preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise.

The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st May 2023 18,527
Additions 652
At 30th April 2024 19,179
DEPRECIATION
At 1st May 2023 1,154
Charge for year 4,152
At 30th April 2024 5,306
NET BOOK VALUE
At 30th April 2024 13,873
At 30th April 2023 17,373

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,682 7,133
Other debtors 52,197 40,239
56,879 47,372

Bare Interiors Limited (Registered number: 13368202)

Notes to the Financial Statements - continued
for the year ended 30th April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 7,363 23,347
Taxation and social security 60,804 27,869
Other creditors 171,263 116,992
239,430 168,208

7. RELATED PARTY DISCLOSURES

On 22nd April 2022 the company became a 100% subsidiary of Bare Capital Ltd, a company controlled by the directors. Mr P Preston is also a director of Bare Capital Ltd.

Bare Estates Ltd also became a 100% subsidiary of Bare Capital Ltd on that date.

As at the year end, the company owed £26,998 in the form of a loan from Bare Estates Ltd, no interest has been charged (2023 - £30,730 and nil).

As at the year end, the company was owed £29,086 in the form of a loan to Bare Capital Ltd, no interest has been charged (2023 - £22,965 and nil).

8. ULTIMATE CONTROLLING PARTY

The ultimate controllers of the company are the directors.