Registered number
NI612022
Make Interiors Ltd
Filleted Accounts
30 April 2024
Make Interiors Ltd
Registered number: NI612022
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,138 1,925
Tangible assets 4 345,571 364,593
346,709 366,518
Current assets
Stocks 70,250 70,250
Debtors 5 597,040 708,520
Cash at bank and in hand 403,379 211,469
1,070,669 990,239
Creditors: amounts falling due within one year 6 (340,987) (327,134)
Net current assets 729,682 663,105
Total assets less current liabilities 1,076,391 1,029,623
Creditors: amounts falling due after more than one year 7 (18,698) (32,140)
Provisions for liabilities (34,947) (34,947)
Net assets 1,022,746 962,536
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,022,744 962,534
Shareholders' funds 1,022,746 962,536
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
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.
Brendan McAlister
Director
Approved by the board on 31 January 2025
Make 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).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 over 5 years
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.
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 23 23
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 108,197
At 30 April 2024 108,197
Amortisation
At 1 May 2023 106,272
Provided during the year 787
At 30 April 2024 107,059
Net book value
At 30 April 2024 1,138
At 30 April 2023 1,925
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 246,712 434,749 133,455 814,916
Additions - 745 21,993 22,738
Disposals - - (1,000) (1,000)
At 30 April 2024 246,712 435,494 154,448 836,654
Depreciation
At 1 May 2023 23,421 331,631 95,271 450,323
Charge for the year - 25,966 14,794 40,760
At 30 April 2024 23,421 357,597 110,065 491,083
Net book value
At 30 April 2024 223,291 77,897 44,383 345,571
At 30 April 2023 223,291 103,118 38,184 364,593
5 Debtors 2024 2023
£ £
Trade debtors 91,775 204,325
Other debtors 505,265 504,195
597,040 708,520
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 20,275
Trade creditors 257,620 244,358
Taxation and social security costs 73,317 62,459
Other creditors 50 42
340,987 327,134
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 18,698 32,140
8 Other information
Make Interiors Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
93 Boucher Road
Belfast
BT12 6HR
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