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REGISTERED NUMBER: 04511910 (England and Wales)















Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 30 September 2023

for

INTERIORS WITH ART LIMITED

INTERIORS WITH ART LIMITED (Registered number: 04511910)

Contents of the Financial Statements
for the Year Ended 30 September 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


INTERIORS WITH ART LIMITED

Company Information
for the Year Ended 30 September 2023







DIRECTORS: S D Sharma
Miss S R Vohora
Mrs. S Vohora



SECRETARY: Mr. P C Thomas



REGISTERED OFFICE: 84 Drayton Gardens
London
Greater London
SW10 9SD



REGISTERED NUMBER: 04511910 (England and Wales)



AUDITORS: Ashford Associates UK Limited
Chartered Certified Accountants
& Registered Auditors
74A High Street
Wanstead
London
E11 2RJ



BANKERS: NatWest Bank Plc
PO Box 1357
169 Victoria Street
London
SW1E 5NA

INTERIORS WITH ART LIMITED (Registered number: 04511910)

Strategic Report
for the Year Ended 30 September 2023


The Directors present their strategic report for the year ended 30th September 2023

REVIEW OF BUSINESS

The Company specializes in high-end design and construction services, catering to discerning clients seeking luxury residential excellence. This strategic report outlines our current market position, identifies key opportunities and challenges, and provides actionable recommendations to enhance their competitive advantage and drive sustainable growth. In the last financial year, the company has seen tremendous growth. In particular, increasing their net profit margin to 2.6% (2022: 1.8%)

Industry Overview

The company is experiencing growth, driven by increased demand for bespoke solutions, and a growing appreciation for high-quality craftsmanship. The global luxury market is projected to expand by 5-7% annually over the next five years.

Target Market

Our primary clients include affluent individuals, high-net-worth families, luxury real estate developers.

Competitive Landscape

The luxury construction market is competitive, with key players offering similar services. However, their commitment to quality, innovative design, and personalized service differentiates them. Competitors often lack the same level of attention to detail and customer engagement.

Action Plan

1. Marketing and Branding Strategy
• Digital Presence: Invest in a robust digital marketing strategy, including SEO, social media, and targeted online advertising.
• Networking Events: Host exclusive events and collaborate with luxury brands to enhance brand visibility.
• Client Testimonials: Leverage satisfied clients to share testimonials and case studies.

2. Service Diversification
• Sustainability Initiatives: Develop partnerships with eco-friendly material suppliers and promote sustainable design practices.

3. Geographic Expansion
• Market Research: Conduct thorough market research to identify key emerging luxury markets.
• Local Partnerships: Establish partnerships with local architects and real estate agents to facilitate entry into new markets.

4. Supply Chain Optimization
• Supplier Relationships: Strengthen relationships with suppliers to ensure priority access to materials.

Financial Projections

• Revenue Growth: Target is to increase annual revenue through new client acquisition and exploring new markets.
• Cost Management: Aim to reduce operational costs through supply chain optimization and efficiency improvements.


Principal Risks and Uncertainties

1. Competitive Environment
The luxury design and construction industry is characterized by intense competition. To maintain our market position, we must consistently deliver exceptional quality and service while remaining price-competitive. Failure to do so may result in lost opportunities, especially with repeat clients and referrals.

Mitigation Strategies:
• Regularly assess competitor offerings and pricing structures.
• Enhance customer engagement to ensure loyalty and satisfaction.
• Invest in ongoing training and development for staff to uphold quality standards.

2. Cash Management
Providing credit to clients is a common practice within our industry, but it poses risks to cash flow and liquidity. Delayed payments or defaults could significantly affect our operational capabilities and financial stability.


INTERIORS WITH ART LIMITED (Registered number: 04511910)

Strategic Report
for the Year Ended 30 September 2023

Mitigation Strategies:
• Implement stringent credit checks and limit credit exposure to high-risk clients.
• Develop clear payment terms and enforce them rigorously.
• Monitor cash flow forecasts closely to manage liquidity effectively.

3. Supply Chain Risks
A significant portion of our project delivery depends on external suppliers for materials and services. Disruptions in the supply chain can lead to project delays, increased costs, and diminished client satisfaction.

Mitigation Strategies:
• Establish strong relationships with multiple suppliers to diversify sources and reduce dependency.
• Conduct regular assessments of supplier performance and financial health.
• Maintain an inventory buffer for critical materials to mitigate supply disruptions.

4. Health and Safety Compliance
Health and safety regulations are paramount in the construction industry. Non-compliance not only poses legal risks but can also impact our reputation and employee morale. Any incidents can lead to financial liabilities and project delays.

Mitigation Strategies:
• Implement a robust health and safety management system, including regular training and audits.
• Foster a safety-first culture among all employees and subcontractors.
• Stay updated on regulatory changes and ensure compliance across all projects.

5. Labour Market Challenges
Access to skilled labour is crucial for the timely delivery of projects. The current labour market is competitive, and shortages can hinder our ability to meet project deadlines and maintain quality.

Mitigation Strategies:
• Develop a comprehensive recruitment strategy to attract and retain skilled labour.
• Offer competitive compensation packages and benefits to enhance employee satisfaction.
• Invest in training and development programs to upskill existing employees and fill labour gaps.

The directors are satisfied that the firm is preforming well in each of these key areas and continue to focus theorganization in improvements in these areas.

POSITION OF THE COMPANY’S BUSINESS AT YEAR END
The company has a high level of client satisfaction and continues to deliver exceptional projects. The company has net
assets of £5.9m (2022: £5.2m) at the balance sheet date.

KEY PERFORMANCE INDICATORS ("KPIS")
The key performance indicator is the net profit margin after tax, which is 2.6%. (2022: 1.8%) for the year.

ON BEHALF OF THE BOARD:





S D Sharma - Director


7 April 2025

INTERIORS WITH ART LIMITED (Registered number: 04511910)

Report of the Directors
for the Year Ended 30 September 2023


The directors present their report with the financial statements of the company for the year ended 30 September 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of interior design and construction.

DIVIDENDS
No dividends will be distributed for the year ended 30 September 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2022 to the date of this report.

S D Sharma
Miss S R Vohora
Mrs. S Vohora

CHARITABLE DONATIONS
During the year company made charitable donations of £7,294.81 (2022: £7,615).

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





S D Sharma - Director


7 April 2025

Report of the Independent Auditors to the Members of
INTERIORS WITH ART LIMITED


Opinion
We have audited the financial statements of INTERIORS WITH ART LIMITED (the 'company') for the year ended 30 September 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 September 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
INTERIORS WITH ART LIMITED


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible
for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the directors determine necessary to enable the preparation of financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic
alternative but to do so.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kunal Vyas (Senior Statutory Auditor)
for and on behalf of Ashford Associates UK Limited
Chartered Certified Accountants
& Registered Auditors
74A High Street
Wanstead
London
E11 2RJ

8 April 2025

INTERIORS WITH ART LIMITED (Registered number: 04511910)

Income Statement
for the Year Ended 30 September 2023

2023 2022
Notes £    £   

TURNOVER 27,694,365 15,720,939

Cost of sales 24,758,199 12,533,531
GROSS PROFIT 2,936,166 3,187,408

Administrative expenses 2,038,553 3,079,813
897,613 107,595

Other operating income - 75,693
OPERATING PROFIT 4 897,613 183,288

Interest receivable and similar income 10,276 -
907,889 183,288

Interest payable and similar expenses 5 3,643 28,455
PROFIT BEFORE TAXATION 904,246 154,833

Tax on profit 6 192,258 (122,623 )
PROFIT FOR THE FINANCIAL YEAR 711,988 277,456

INTERIORS WITH ART LIMITED (Registered number: 04511910)

Other Comprehensive Income
for the Year Ended 30 September 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 711,988 277,456


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

711,988

277,456

INTERIORS WITH ART LIMITED (Registered number: 04511910)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 138,023 158,192

CURRENT ASSETS
Debtors 8 12,433,117 7,058,854
Cash at bank and in hand 857,720 1,474,821
13,290,837 8,533,675
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR (INCLUDING
CONVERTIBLE DEBT)


9


7,451,208


2,676,532
NET CURRENT ASSETS 5,839,629 5,857,143
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,977,652

6,015,335

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR
(INCLUDING CONVERTIBLE DEBT)


10


-


(766,667


)

PROVISIONS FOR LIABILITIES 13 (28,592 ) (11,596 )
NET ASSETS 5,949,060 5,237,072

CAPITAL AND RESERVES
Called up share capital 14 500 500
Retained earnings 15 5,948,560 5,236,572
SHAREHOLDERS' FUNDS 5,949,060 5,237,072

INTERIORS WITH ART LIMITED (Registered number: 04511910)

Balance Sheet - continued
30 September 2023


The financial statements were approved by the Board of Directors and authorised for issue on 7 April 2025 and were signed on its behalf by:





S D Sharma - Director


INTERIORS WITH ART LIMITED (Registered number: 04511910)

Statement of Changes in Equity
for the Year Ended 30 September 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 October 2021 500 4,959,116 4,959,616
Total comprehensive income - 277,456 277,456
Balance at 30 September 2022 500 5,236,572 5,237,072
Total comprehensive income - 711,988 711,988
Balance at 30 September 2023 500 5,948,560 5,949,060

INTERIORS WITH ART LIMITED (Registered number: 04511910)

Cash Flow Statement
for the Year Ended 30 September 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 360,988 369,033
Interest paid (3,643 ) (28,455 )
Tax paid (2,561 ) 163,541
Net cash from operating activities 354,784 504,119

Cash flows from investing activities
Purchase of tangible fixed assets (25,841 ) (46,381 )
Interest received 10,276 -
Net cash from investing activities (15,565 ) (46,381 )

Cash flows from financing activities
Loan repayments in year (752,530 ) (385,252 )
Amount introduced by directors - 36,621
Amount withdrawn by directors (203,790 ) (73,173 )
Net cash from financing activities (956,320 ) (421,804 )

(Decrease)/increase in cash and cash equivalents (617,101 ) 35,934
Cash and cash equivalents at beginning of year 2 1,474,821 1,438,887

Cash and cash equivalents at end of year 2 857,720 1,474,821

INTERIORS WITH ART LIMITED (Registered number: 04511910)

Notes to the Cash Flow Statement
for the Year Ended 30 September 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit before taxation 904,246 154,833
Depreciation charges 46,007 52,731
Finance costs 3,643 28,455
Finance income (10,276 ) -
943,620 236,019
(Increase)/decrease in trade and other debtors (5,294,459 ) 1,534,192
Increase/(decrease) in trade and other creditors 4,711,827 (1,401,178 )
Cash generated from operations 360,988 369,033

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 857,720 1,474,821
Year ended 30 September 2022
30.9.22 1.10.21
£    £   
Cash and cash equivalents 1,474,821 1,438,887


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.22 Cash flow At 30.9.23
£    £    £   
Net cash
Cash at bank and in hand 1,474,821 (617,101 ) 857,720
1,474,821 (617,101 ) 857,720
Debt
Debts falling due within 1 year (232,178 ) (14,134 ) (246,312 )
Debts falling due after 1 year (766,667 ) 766,667 -
(998,845 ) 752,533 (246,312 )
Total 475,976 135,432 611,408

INTERIORS WITH ART LIMITED (Registered number: 04511910)

Notes to the Financial Statements
for the Year Ended 30 September 2023


1. STATUTORY INFORMATION

INTERIORS WITH ART 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Revenue recognition

Revenue from the interior design and building project is recognised in stages from the commencement of the project to completion based on valuations of work completed and agreed with client / client's surveyors.

Revenue from the sale of design is recognised in different design stages (start of the project, Design Development, FF&E Presentation, Final Delivery to site) and revenue from sale of fixtures and furnishing is recognised once the goods have been delivered and the risks and rewards have been passed to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

INTERIORS WITH ART LIMITED (Registered number: 04511910)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


2. ACCOUNTING POLICIES - continued

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.

Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. Debtors receivable after 1 year have been shown at their Present Value with difference being accounted in the Statement of Income.

Holiday accrual
There is no holiday accrual for the current year and previous year.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 1,135,307 1,070,878
Social security costs 116,085 130,461
Other pension costs 17,536 16,405
1,268,928 1,217,744

The average number of employees during the year was as follows:
2023 2022

Management, production and design 26 21

2023 2022
£    £   
Directors' remuneration 210,000 214,167

Information regarding the highest paid director is as follows:
2023 2022
£    £   
Emoluments etc 90,000 100,000

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Hire of plant and machinery 19,755 -
Depreciation - owned assets 46,010 52,730
Auditors' remuneration 9,000 14,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 3,643 28,455

INTERIORS WITH ART LIMITED (Registered number: 04511910)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


6. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 51,276 -
Tax adjustment - prior years - (154,726 )
Total current tax 51,276 (154,726 )

Deferred tax 140,982 32,103
Tax on profit 192,258 (122,623 )

7. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2022 158,553 252,708 21,010
Additions - 13,799 -
At 30 September 2023 158,553 266,507 21,010
DEPRECIATION
At 1 October 2022 90,570 219,690 15,865
Charge for year 16,996 11,705 1,286
At 30 September 2023 107,566 231,395 17,151
NET BOOK VALUE
At 30 September 2023 50,987 35,112 3,859
At 30 September 2022 67,983 33,018 5,145

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2022 39,421 138,621 610,313
Additions - 12,042 25,841
At 30 September 2023 39,421 150,663 636,154
DEPRECIATION
At 1 October 2022 11,087 114,909 452,121
Charge for year 7,084 8,939 46,010
At 30 September 2023 18,171 123,848 498,131
NET BOOK VALUE
At 30 September 2023 21,250 26,815 138,023
At 30 September 2022 28,334 23,712 158,192

INTERIORS WITH ART LIMITED (Registered number: 04511910)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,101,428 2,286,833
Other debtors 1,765,668 1,828,566
Directors' loan accounts 630,638 426,848
VAT 240,938 -
Deferred tax asset - 123,986
Prepayments and accrued income 5,530,530 2,392,621
Supplier prepayments 1,947,622 -
ACT recoverable 216,293 -
12,433,117 7,058,854

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans (see note 11) 246,312 232,178
Trade creditors 2,176,466 1,026,924
Retention Liability 103,512 -
Tax 48,715 -
Social security and other taxes 56,185 45,575
VAT - 504,129
Other creditors 3,431 177,209
Commercial credit card 14,326 -
Accruals 1,831,836 483,765
Payment on account 2,970,425 206,752
7,451,208 2,676,532

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 11) - 766,667

11. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Other loans 232,178 232,178
Hire Purchase Loan 14,134 -
246,312 232,178

Amounts falling due between two and five years:
Bank loans - 2-5 years - 766,667

12. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   

INTERIORS WITH ART LIMITED (Registered number: 04511910)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


13. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 16,996 -
Other provisions 11,596 11,596
28,592 11,596

Deferred Other
tax provisions
£    £   
Balance at 1 October 2022 (123,986 ) (123,986 )
Provided during year 140,982 140,982
Balance at 30 September 2023 16,996 16,996

Provision for taxation amount pertains to tax charge on director's loan account as per section 455 of Corporation Tax Act 2010. The outstanding liability attracts 2% interest till the same is paid off.

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
500 Ordinary 1 500 500

15. RESERVES
Retained
earnings
£   

At 1 October 2022 5,236,572
Profit for the year 711,988
At 30 September 2023 5,948,560

16. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the net amount owed by the directors is £630,638 (2022: £426,848)

17. RELATED PARTY DISCLOSURES

Included within debtors falling due within one year are:
Advance of £1,723,063.58 (2022: £1,677,864) to Jeunessee International Ltd, a company in which Mr S Sharma and Mrs S Vohora have a beneficial interest.

Advances of £35953.55 (2022: £6,582) to IWA Solutions Ltd, company in which Mr S Sharma is a director. Advances of £3,418 (2022: £3,193) to IWA Developments Ltd and £3,233 (2022: £3,008) to Shailja Interiors Ltd, companies in which Mr S Sharma and Mrs S Vohora are directors.

These loans are interest free and repayable on demand.

18. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are Sanjay Sharma & Shailja Vohora.