Registered number
12173262
DECOR8 INT LTD
Filleted Accounts
31 August 2024
DECOR8 INT LTD
Registered number: 12173262
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 6,960 10,920
Current assets
Stocks - 2,525
Debtors 4 22,866 2,427
Cash at bank and in hand 31 15,767
22,897 20,719
Creditors: amounts falling due within one year 5 (18,457) (14,111)
Net current assets 4,440 6,608
Total assets less current liabilities 11,400 17,528
Creditors: amounts falling due after more than one year 6 (70,428) (77,783)
Net liabilities (59,028) (60,255)
Capital and reserves
Called up share capital 4 4
Profit and loss account (59,032) (60,259)
Shareholders' funds (59,028) (60,255)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Goran Svilar
Director
Approved by the board on 16 May 2025
DECOR8 INT LTD
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The accounts have been prepared under the going concern basis as the company has continuing support from its shareholders, which will enable the company to continue trading.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Website 5 years straight line
Copyrights & licences 10 years straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Patent and website :
Cost
At 1 September 2023 22,800
At 31 August 2024 22,800
Amortisation
At 1 September 2023 11,880
Provided during the year 3,960
At 31 August 2024 15,840
Net book value
At 31 August 2024 6,960
At 31 August 2023 10,920
Patent is being written off in equal annual instalments over its estimated economic life of 10 years while the website cost is written off over 5 years.
4 Debtors 2024 2023
£ £
Amounts owed by company with similar control 22,862 2,423
Other debtors 4 4
22,866 2,427
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,973 10,716
Accruals 2,660 2,626
Amounts owed to director 5,824 769
18,457 14,111
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 26,679 28,838
Amounts owed to company with similar control 23,779 43,975
Amounts owed to director 19,970 4,970
70,428 77,783
Bank loan relates to Bounce Back Loan scheme set up by the Government to help businesses with Covid-19. It is Government backed unsecured loan with interest at 2.5% . The loan is due for repayment within 5 years.
7 Other information
DECOR8 INT LTD is a private company limited by shares and incorporated in England. Its registered office is:
20 Wenlock Road
London
England
N1 7GU
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