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REGISTERED NUMBER: 05604871 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

1ST STOP INTERIORS LTD

1ST STOP INTERIORS LTD (REGISTERED NUMBER: 05604871)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


1ST STOP INTERIORS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: S J Penrose





SECRETARY: Mrs T Penrose





REGISTERED OFFICE: Unit 15b Jon Davey Drive
Treleigh Industrial Estate
REDRUTH
Cornwall
TR16 4AX





REGISTERED NUMBER: 05604871 (England and Wales)





ACCOUNTANT: Catherine Bennett Ltd
Chartered Accountant
Wheal Harmony House
Solomon Road
Redruth
Cornwall
TR15 1FD

1ST STOP INTERIORS LTD (REGISTERED NUMBER: 05604871)

BALANCE SHEET
31 DECEMBER 2024

31/12/24 31/12/23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 33,071 44,095
Tangible assets 5 27,608 30,000
60,679 74,095

CURRENT ASSETS
Stocks 10,385 13,818
Debtors 6 195,248 182,205
Cash in hand 95 224
205,728 196,247
CREDITORS
Amounts falling due within one year 7 149,778 182,175
NET CURRENT ASSETS 55,950 14,072
TOTAL ASSETS LESS CURRENT
LIABILITIES

116,629

88,167

CREDITORS
Amounts falling due after more than one
year

8

(5,250

)

(18,891

)

PROVISIONS FOR LIABILITIES (5,246 ) (3,057 )
NET ASSETS 106,133 66,219

CAPITAL AND RESERVES
Called up share capital 125,000 125,000
Retained earnings (18,867 ) (58,781 )
106,133 66,219

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

1ST STOP INTERIORS LTD (REGISTERED NUMBER: 05604871)

BALANCE SHEET - continued
31 DECEMBER 2024


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

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

The financial statements were approved by the director and authorised for issue on 23 May 2025 and were signed by:





S J Penrose - Director


1ST STOP INTERIORS LTD (REGISTERED NUMBER: 05604871)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

1st Stop Interiors Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on reducing balance and 15% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


1ST STOP INTERIORS LTD (REGISTERED NUMBER: 05604871)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Going concern
The company has net liabilities and is reliant upon the continued support of its director(s).

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 220,475
AMORTISATION
At 1 January 2024 176,380
Charge for year 11,024
At 31 December 2024 187,404
NET BOOK VALUE
At 31 December 2024 33,071
At 31 December 2023 44,095

1ST STOP INTERIORS LTD (REGISTERED NUMBER: 05604871)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 60,884 10,453 123,500 3,464 198,301
Additions 500 - 4,836 - 5,336
At 31 December 2024 61,384 10,453 128,336 3,464 203,637
DEPRECIATION
At 1 January 2024 44,672 10,453 109,941 3,235 168,301
Charge for year 2,907 - 4,599 222 7,728
At 31 December 2024 47,579 10,453 114,540 3,457 176,029
NET BOOK VALUE
At 31 December 2024 13,805 - 13,796 7 27,608
At 31 December 2023 16,212 - 13,559 229 30,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 73,638 71,189
Amounts recoverable on contract 65,401 43,638
Other debtors 50,000 51,571
Tax - 10,748
Prepayments 6,209 5,059
195,248 182,205

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Bank loans and overdrafts 25,176 65,718
Other loans 15,000 15,403
Hire purchase contracts 3,244 3,049
Trade creditors 31,513 33,038
Tax 7,339 -
Social security and other taxes 3,716 5,548
VAT 5,097 629
Other creditors 2,750 3,280
Directors' current accounts 53,868 53,535
Accrued expenses 2,075 1,975
149,778 182,175

1ST STOP INTERIORS LTD (REGISTERED NUMBER: 05604871)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/24 31/12/23
£    £   
Bank loans - 1-2 years 4,409 10,397
Bank loans - 2-5 years - 4,409
Hire purchase contracts 841 4,085
5,250 18,891

9. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £3,595
(2023 - £885).