| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| ABI INTERIORS INTERNATIONAL LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| ABI INTERIORS INTERNATIONAL LIMITED |
| ABI INTERIORS INTERNATIONAL LIMITED (REGISTERED NUMBER: 12954559) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ABI INTERIORS INTERNATIONAL LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Herschel House |
| 58 Herschel Street |
| Slough |
| Berkshire |
| SL1 1PG |
| ABI INTERIORS INTERNATIONAL LIMITED (REGISTERED NUMBER: 12954559) |
| BALANCE SHEET |
| 30 JUNE 2024 |
| 30.6.24 | 30.6.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| ABI INTERIORS INTERNATIONAL LIMITED (REGISTERED NUMBER: 12954559) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 1. | STATUTORY INFORMATION |
| ABI Interiors International Limited is a |
| The trading address of the company is 316 Design Centre East, Chelsea Harbour, London, SW10 0XF. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| ABI Interiors Pty Limited, a fellow group company, will continue to provide any financial and operational support which may be necessary in order that the company can continue to trade and meet its liabilities, as they fall due, for the foreseeable future, and in any event for a period in excess of 12 months and 1 day from the date of the signing of the audit report. |
| The director has assessed the ability of ABI Interiors Pty Limited to provide this support, reviewing the fellow group company's cash flow forecasts, its latest results and its financier agreements. As part of this review, the director has noted that the fellow group company is party to a trade finance facility that is due for renewal on 31 December 2025. The director is confident that the facility will be renewed and has no reason to believe that it won't be renewed. This assessment is based on the previous successful annual renewals of this facility, the fact that the fellow group company is profitable, is in a net current assets position and that the facility covenants have not been breached to date. |
| As a result of this commitment the director has continued to adopt the going concern basis in preparing these financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover represents the amount charged on the sale of goods, excluding discounts, rebates, value added tax, and other sales tax. |
| Turnover is recognised when goods are delivered to the customer. |
| Turnover relating to sales made in the final 3 days of the period are deferred, in order to account for the uncertainty over delivery times, leading to goods being received following the year end. |
| Tangible fixed assets |
| Tangible fixed assets are initially measured at cost. After initial recognition, tangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery etc - | 20% to 50% on cost, over remaining term of lease and between 5 and 20 years |
| Stocks |
| Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. |
| ABI INTERIORS INTERNATIONAL LIMITED (REGISTERED NUMBER: 12954559) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| Financial instruments |
| Basic Financial Instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| ABI INTERIORS INTERNATIONAL LIMITED (REGISTERED NUMBER: 12954559) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 July 2023 |
| Additions |
| Disposals | ( |
) |
| At 30 June 2024 |
| DEPRECIATION |
| At 1 July 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 30 June 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.24 | 30.6.23 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.24 | 30.6.23 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors & accruals |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 30.6.24 | 30.6.23 |
| £ | £ |
| Within one year |
| Between one and five years |
| ABI INTERIORS INTERNATIONAL LIMITED (REGISTERED NUMBER: 12954559) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 8. | PROVISIONS FOR LIABILITIES |
| 30.6.24 | 30.6.23 |
| £ | £ |
| Deferred tax | 915 | 915 |
| Sales returns provisions | 19,172 | 9,479 |
| Sales |
| Deferred | returns |
| tax | provisions |
| £ | £ |
| Balance at 1 July 2023 |
| Charge to Income Statement during year |
| Utilised during year | ( |
) |
| Balance at 30 June 2024 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| "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." |
| 11. | ULTIMATE CONTROLLING PARTY |
| There is no ultimate controlling party. |
| 12. | ULTIMATE PARENT COMPANY |
parent company. The registered address of the company is Level 23, 480 Queen Street, Brisbane City, QLD 4000. |
| ABI International Holdings Pty Ltd prepares consolidated financial statements. These financial statements are available upon request in writing to the above registered address. |