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REGISTERED NUMBER: 04258576















Financial Statements for the Year Ended 31 July 2024

for

Initial Interiors Limited

Initial Interiors Limited (Registered number: 04258576)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Initial Interiors Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: T J Griffiths
Mrs L Mcandrew





REGISTERED OFFICE: 31 Whittington Court
Aylmer Road
London
N2 0BT





REGISTERED NUMBER: 04258576





ACCOUNTANTS: ASE Accountancy Ltd
160 City Road
London
EC1V 2NX

Initial Interiors Limited (Registered number: 04258576)

Abridged Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,626 6,353

CURRENT ASSETS
Stocks 8,325 16,082
Debtors 18,348 111,846
Cash at bank 107,343 36,596
134,016 164,524
CREDITORS
Amounts falling due within one year 83,015 115,729
NET CURRENT ASSETS 51,001 48,795
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,627

55,148

CREDITORS
Amounts falling due after more than one year (7,381 ) (17,282 )

PROVISIONS FOR LIABILITIES (1,037 ) (1,037 )
NET ASSETS 45,209 36,829

CAPITAL AND RESERVES
Called up share capital 5 500 500
Retained earnings 44,709 36,329
SHAREHOLDERS' FUNDS 45,209 36,829

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

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

Initial Interiors Limited (Registered number: 04258576)

Abridged Balance Sheet - continued
31 July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:





T J Griffiths - Director


Initial Interiors Limited (Registered number: 04258576)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Initial Interiors Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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 - 25% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Initial Interiors Limited (Registered number: 04258576)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023
and 31 July 2024 31,038
DEPRECIATION
At 1 August 2023 24,685
Charge for year 3,727
At 31 July 2024 28,412
NET BOOK VALUE
At 31 July 2024 2,626
At 31 July 2023 6,353

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
500 Ordinary £1 500 500