Right Interiors Limited 01953080 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is the letting of own property. Digita Accounts Production Advanced 6.30.9574.0 true true 01953080 2023-11-01 2024-10-31 01953080 2024-10-31 01953080 bus:OrdinaryShareClass1 2024-10-31 01953080 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 01953080 core:FurnitureFittingsToolsEquipment 2024-10-31 01953080 core:OtherPropertyPlantEquipment 2024-10-31 01953080 bus:SmallEntities 2023-11-01 2024-10-31 01953080 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 01953080 bus:FilletedAccounts 2023-11-01 2024-10-31 01953080 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 01953080 bus:RegisteredOffice 2023-11-01 2024-10-31 01953080 bus:CompanySecretaryDirector2 2023-11-01 2024-10-31 01953080 bus:Director1 2023-11-01 2024-10-31 01953080 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 01953080 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 01953080 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 01953080 core:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 01953080 countries:EnglandWales 2023-11-01 2024-10-31 01953080 2023-10-31 01953080 core:FurnitureFittingsToolsEquipment 2023-10-31 01953080 core:OtherPropertyPlantEquipment 2023-10-31 01953080 2022-11-01 2023-10-31 01953080 2023-10-31 01953080 bus:OrdinaryShareClass1 2023-10-31 01953080 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 01953080 core:FurnitureFittingsToolsEquipment 2023-10-31 01953080 core:OtherPropertyPlantEquipment 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01953080

Right Interiors Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Right Interiors Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Right Interiors Limited

Company Information

Directors

Mr Robert William Hollington

Mrs Heather Sandra Hollington

Company secretary

Mrs Heather Sandra Hollington

Registered office

37 Market Square
Witney
Oxon
OX28 6RE

Accountants

ReesRussell LLP
37 Market Square
Witney
Oxfordshire
OX28 6RE

 

Right Interiors Limited

(Registration number: 01953080)
Balance Sheet as at 31 October 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

4

105

89

Investment property

5

550,000

550,000

 

550,105

550,089

Current assets

 

Cash at bank and in hand

 

61,549

48,709

Creditors: Amounts falling due within one year

6

(12,656)

(11,750)

Net current assets

 

48,893

36,959

Net assets

 

598,998

587,048

Capital and reserves

 

Called up share capital

7

1,000

1,000

Revaluation reserve

345,671

345,671

Retained earnings

252,327

240,377

Shareholders' funds

 

598,998

587,048

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

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 April 2025 and signed on its behalf by:
 

.........................................
Mr Robert William Hollington
Director

 

Right Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
37 Market Square
Witney
Oxon
OX28 6RE

These financial statements were authorised for issue by the Board on 15 April 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Right Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Right Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

1,736

3,430

5,166

Additions

-

73

73

Disposals

(1,229)

(634)

(1,863)

At 31 October 2024

507

2,869

3,376

Depreciation

At 1 November 2023

1,736

3,341

5,077

Charge for the year

-

44

44

Eliminated on disposal

(1,229)

(621)

(1,850)

At 31 October 2024

507

2,764

3,271

Carrying amount

At 31 October 2024

-

105

105

At 31 October 2023

-

89

89

5

Investment properties

2024
£

At 1 November

550,000

At 31 October

550,000

Whilst there has been no valuation of investment property by an independent valuer this year, the directors are satisfied that the value remains unchanged.

 

Right Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

8,292

7,695

Accruals and deferred income

2,614

2,941

Other creditors

1,750

1,114

12,656

11,750

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000