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REGISTERED NUMBER: 12417611 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

INTERIOR 55 LIMITED

INTERIOR 55 LIMITED (REGISTERED NUMBER: 12417611)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INTERIOR 55 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: A V Wright
Miss L O'Hare





REGISTERED OFFICE: 47 Bolton Road
Darwen
Lancashire
BB3 1DF





REGISTERED NUMBER: 12417611 (England and Wales)





ACCOUNTANTS: Ainsworths Limited
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

INTERIOR 55 LIMITED (REGISTERED NUMBER: 12417611)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,200 9,600
Tangible assets 5 33,385 43,719
40,585 53,319

CURRENT ASSETS
Stocks 89,000 126,250
Debtors 6 30,908 25,280
Cash at bank and in hand 2,364 12,034
122,272 163,564
CREDITORS
Amounts falling due within one year 7 134,610 142,868
NET CURRENT (LIABILITIES)/ASSETS (12,338 ) 20,696
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,247

74,015

CREDITORS
Amounts falling due after more than one
year

8

(20,066

)

(27,947

)

PROVISIONS FOR LIABILITIES (6,343 ) (6,255 )
NET ASSETS 1,838 39,813

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,738 39,713
1,838 39,813

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

INTERIOR 55 LIMITED (REGISTERED NUMBER: 12417611)

BALANCE SHEET - continued
31ST MARCH 2024


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 23rd January 2025 and were signed on its behalf by:





A V Wright - Director


INTERIOR 55 LIMITED (REGISTERED NUMBER: 12417611)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Interior 55 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 33% on cost, 25% on reducing balance and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

INTERIOR 55 LIMITED (REGISTERED NUMBER: 12417611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 12,000
AMORTISATION
At 1st April 2023 2,400
Charge for year 2,400
At 31st March 2024 4,800
NET BOOK VALUE
At 31st March 2024 7,200
At 31st March 2023 9,600

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 49,359
Additions 3,432
At 31st March 2024 52,791
DEPRECIATION
At 1st April 2023 5,640
Charge for year 13,766
At 31st March 2024 19,406
NET BOOK VALUE
At 31st March 2024 33,385
At 31st March 2023 43,719

INTERIOR 55 LIMITED (REGISTERED NUMBER: 12417611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 30,408 25,280
Other debtors 500 -
30,908 25,280

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 1
Hire purchase contracts and finance leases 8,784 14,770
Trade creditors 45,391 52,650
Taxation and social security 47,049 26,516
Other creditors 33,386 48,931
134,610 142,868

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts and finance leases 20,066 27,947

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts and finance leases 28,850 42,717

Hire purchase contracts and finance lease liabilities are secured on the assets to which they relate.