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Registration number: 06826394

J.H.D Interiors Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

J.H.D Interiors Limited

Contents
 


 

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 9

 

J.H.D Interiors Limited

Registration number: 06826394

Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

7,359

8,928

Current assets

 

Stocks

7

74,650

80,915

Debtors

8

19,863

45,690

Cash at bank and in hand

 

408

395

 

94,921

127,000

Creditors: Amounts falling due within one year

9

(169,960)

(141,835)

Net current liabilities

 

(75,039)

(14,835)

Total assets less current liabilities

 

(67,680)

(5,907)

Creditors: Amounts falling due after more than one year

9

(58,000)

(76,000)

Net liabilities

 

(125,680)

(81,907)

Capital and reserves

 

Called up share capital

10

2

2

Retained earnings

(125,682)

(81,909)

Shareholders' deficit

 

(125,680)

(81,907)



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

J.H.D Interiors Limited

Registration number: 06826394

Balance Sheet as at 31 May 2024 (continued)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 February 2025
 

J D Handforth-Doidge
Director

   
     

 

J.H.D Interiors Limited

Notes to the Financial Statements for the Year Ended 31 May 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:
Unit 1, Tilia Court
Wendover Road
Rackheath Industrial Estate
Rackheath
Norfolk
NR13 6LR
United Kingdom

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The continuation of the company's activities is dependant on the continued support of it's director, Mrs J D Handforth-Doidge and the bank. The financial statements have been prepared on the going concern basis on the understanding their support will continue.

 

J.H.D Interiors Limited

Notes to the Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

20% Reducing balance method

Short leasehold property

10% Straight line method

Motor vehicles

25% Reducing balance method

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.

 

J.H.D Interiors Limited

Notes to the Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

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:

Asset class

Amortisation method and rate

Goodwill

10% Straight line method

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 the director) during the year, was 8 (2023 - 9).

 

J.H.D Interiors Limited

Notes to the Financial Statements for the Year Ended 31 May 2024 (continued)

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,569

1,771

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2023

18,000

18,000

At 31 May 2024

18,000

18,000

Amortisation

At 1 June 2023

18,000

18,000

At 31 May 2024

18,000

18,000

Carrying amount

At 31 May 2024

-

-

 

J.H.D Interiors Limited

Notes to the Financial Statements for the Year Ended 31 May 2024 (continued)

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

8,838

36,697

5,400

50,935

At 31 May 2024

8,838

36,697

5,400

50,935

Depreciation

At 1 June 2023

4,652

31,955

5,400

42,007

Charge for the year

549

1,020

-

1,569

At 31 May 2024

5,201

32,975

5,400

43,576

Carrying amount

At 31 May 2024

3,637

3,722

-

7,359

At 31 May 2023

4,186

4,742

-

8,928

Included within the net book value of land and buildings above is £3,637 (2023 - £4,186) in respect of short leasehold land and buildings.
 

7

Stocks

2024
£

2023
£

Other inventories

74,650

80,915

 

J.H.D Interiors Limited

Notes to the Financial Statements for the Year Ended 31 May 2024 (continued)

8

Debtors

Current

2024
£

2023
£

Trade debtors

18,586

40,413

Prepayments

1,277

1,939

Other debtors

-

3,338

 

19,863

45,690

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

57,352

26,371

Trade creditors

 

27,790

35,618

Director's loan account

59,289

55,152

Taxation and social security

 

12,927

21,031

Other creditors

 

12,602

3,663

 

169,960

141,835

Due after one year

 

Loans and borrowings

58,000

76,000


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £18,000 (2023 - £18,000).

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £58,000 (2023 - £76,000).

 

J.H.D Interiors Limited

Notes to the Financial Statements for the Year Ended 31 May 2024 (continued)

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £4,059 (2023 - £8,487).