1 June 2023 false No description of principal activity Taxfiler 2024.6 true NI624860business:PrivateLimitedCompanyLtd2023-06-012024-05-31 NI6248602023-05-31 NI6248602023-06-012024-05-31 NI624860business:AuditExemptWithAccountantsReport2023-06-012024-05-31 NI624860business:FilletedAccounts2023-06-012024-05-31 NI6248602024-05-31 NI6248602023-05-31 NI624860core:WithinOneYear2024-05-31 NI624860core:WithinOneYear2023-05-31 NI624860core:AfterOneYear2024-05-31 NI624860core:AfterOneYear2023-05-31 NI624860core:ShareCapitalcore:PreviouslyStatedAmount2024-05-31 NI624860core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 NI624860core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-05-31 NI624860core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 NI624860core:PreviouslyStatedAmount2024-05-31 NI624860core:PreviouslyStatedAmount2023-05-31 NI624860business:SmallEntities2023-06-012024-05-31 NI624860business:Director22023-06-012024-05-31 NI624860countries:NorthernIreland2023-06-012024-05-31 NI624860business:RegisteredOffice2023-06-012024-05-31 NI624860core:PlantMachinery2023-06-012024-05-31 NI624860core:MotorVehicles2023-06-012024-05-31 NI624860core:FurnitureFittings2023-06-012024-05-31 NI624860core:PlantMachinery2023-05-31 NI624860core:MotorVehicles2023-05-31 NI624860core:FurnitureFittings2023-05-31 NI624860core:PlantMachinery2024-05-31 NI624860core:MotorVehicles2024-05-31 NI624860core:FurnitureFittings2024-05-31 NI624860business:OrdinaryShareClass12023-06-012024-05-31 NI624860business:OrdinaryShareClass12022-06-012023-05-31 NI6248602022-06-012023-05-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. NI624860 (Northern Ireland)
Interior 360 Design Limited Unaudited accounts for the year ended 31 May 2024
Interior 360 Design Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
99,877 
130,040 
Current assets
Inventories
20,544 
33,399 
Debtors
290,284 
181,850 
Cash at bank and in hand
29,160 
13,620 
339,988 
228,869 
Creditors: amounts falling due within one year
(380,152)
(246,248)
Net current liabilities
(40,164)
(17,379)
Total assets less current liabilities
59,713 
112,661 
Creditors: amounts falling due after more than one year
(36,791)
(50,185)
Net assets
22,922 
62,476 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
22,822 
62,376 
Shareholders' funds
22,922 
62,476 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by
Philip Millar Director Company Registration No. NI624860
- 2 -
Interior 360 Design Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Interior 360 Design Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI624860. The registered office is Unit 2 Channel Wharf, 21 Old Channel Road, Belfast , BT3 9DE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
Having reviewed the resources available, the directors of Interior 360 Design Ltd believe that the company has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, Interior 360 Design Ltd continues to adopt the going concern basis in preparation of its financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of retail furniture & lighting is recognised when goods have been installed for customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
- 3 -
Interior 360 Design Limited Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2023
61,266 
146,917 
76,195 
284,378 
At 31 May 2024
61,266 
146,917 
76,195 
284,378 
Depreciation
At 1 June 2023
33,544 
63,839 
56,955 
154,338 
Charge for the year
5,545 
20,770 
3,848 
30,163 
At 31 May 2024
39,089 
84,609 
60,803 
184,501 
Net book value
At 31 May 2024
22,177 
62,308 
15,392 
99,877 
At 31 May 2023
27,722 
83,078 
19,240 
130,040 
5
Inventories
2024 
2023 
£ 
£ 
Finished goods
20,544 
33,399 
20,544 
33,399 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
7,993 
Trade debtors
52,794 
3,071 
Accrued income and prepayments
14,934 
- 
Other debtors
222,556 
170,786 
290,284 
181,850 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
9,994 
9,994 
VAT
10,851 
- 
Obligations under finance leases and hire purchase contracts
3,399 
3,399 
Trade creditors
59,768 
54,711 
Taxes and social security
16,571 
18,341 
Other creditors
154,325 
65,454 
Loans from directors
120,644 
90,450 
Accruals
4,600 
3,899 
380,152 
246,248 
- 4 -
Interior 360 Design Limited Notes to the Accounts for the year ended 31 May 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
10,758 
20,752 
Obligations under finance leases and hire purchase contracts
26,033 
29,433 
36,791 
50,185 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 4 (2023: 4).
- 5 -