4
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2023-06-01
Sage Accounts Production Advanced 2024 - FRS102_2024
130,000
130,000
xbrli:pure
xbrli:shares
iso4217:GBP
07649189
2023-06-01
2024-05-31
07649189
2024-05-31
07649189
2023-05-31
07649189
2022-06-01
2023-05-31
07649189
2023-05-31
07649189
2022-05-31
07649189
core:NetGoodwill
2023-06-01
2024-05-31
07649189
core:FurnitureFittings
2023-06-01
2024-05-31
07649189
bus:LeadAgentIfApplicable
2023-06-01
2024-05-31
07649189
bus:Director1
2023-06-01
2024-05-31
07649189
core:NetGoodwill
2024-05-31
07649189
core:FurnitureFittings
2024-05-31
07649189
core:WithinOneYear
2024-05-31
07649189
core:WithinOneYear
2023-05-31
07649189
core:AfterOneYear
2024-05-31
07649189
core:AfterOneYear
2023-05-31
07649189
core:ShareCapital
2024-05-31
07649189
core:ShareCapital
2023-05-31
07649189
core:RetainedEarningsAccumulatedLosses
2024-05-31
07649189
core:RetainedEarningsAccumulatedLosses
2023-05-31
07649189
bus:SmallEntities
2023-06-01
2024-05-31
07649189
bus:AuditExemptWithAccountantsReport
2023-06-01
2024-05-31
07649189
bus:SmallCompaniesRegimeForAccounts
2023-06-01
2024-05-31
07649189
bus:PrivateLimitedCompanyLtd
2023-06-01
2024-05-31
07649189
bus:FullAccounts
2023-06-01
2024-05-31
07649189
core:OfficeEquipment
2023-06-01
2024-05-31
07649189
core:OfficeEquipment
2024-05-31
COMPANY REGISTRATION NUMBER:
07649189
|
Filleted Unaudited Financial Statements |
|
|
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
H & B Designers Limited |
|
Year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of H & B Designers Limited for the year ended 31 May 2024, which comprise the balance sheet and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of H & B Designers Limited, as a body, in accordance with the terms of our engagement letter dated 9 March 2022. Our work has been undertaken solely to prepare for your approval the financial statements of H & B Designers Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than H & B Designers Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that H & B Designers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of H & B Designers Limited. You consider that H & B Designers Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of H & B Designers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
MILLER DAVIES LLP
Chartered accountants
A3 Broomsleigh Business Park
Worsley Bridge Road
London
SE26 5BN
29 May 2025
31 May 2024
Current assets
|
Stocks |
5,000 |
|
35,429 |
|
Debtors |
7 |
71,245 |
|
88,087 |
|
Cash at bank and in hand |
46,374 |
|
31,195 |
|
--------- |
|
--------- |
|
122,619 |
|
154,711 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
111,606 |
|
133,489 |
|
--------- |
|
--------- |
|
Net current assets |
|
11,013 |
21,222 |
|
|
-------- |
-------- |
|
Total assets less current liabilities |
|
11,013 |
21,222 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
10,765 |
21,001 |
|
|
-------- |
-------- |
|
Net assets |
|
248 |
221 |
|
|
-------- |
-------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
104 |
104 |
|
Profit and loss account |
|
144 |
117 |
|
|
---- |
---- |
|
Shareholders funds |
|
248 |
221 |
|
|
---- |
---- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Balance Sheet (continued) |
|
31 May 2024
These financial statements were approved by the
board of directors
and authorised for issue on
29 May 2025
, and are signed on behalf of the board by:
Company registration number:
07649189
|
Notes to the Financial Statements |
|
Year ended 31 May 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is A3 Broomsleigh Business Park, Worsley Bridge Road, London, SE26 5BN.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
20% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Furniture and fittings |
- |
20% straight line |
|
Office equipment |
- |
25% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2023:
5
).
5.
Intangible assets
|
Goodwill |
|
£ |
|
Cost |
|
|
At 1 June 2023 and 31 May 2024 |
130,000 |
|
--------- |
|
Amortisation |
|
|
At 1 June 2023 and 31 May 2024 |
130,000 |
|
--------- |
|
Carrying amount |
|
|
At 31 May 2024 |
– |
|
--------- |
|
At 31 May 2023 |
– |
|
--------- |
|
|
6.
Tangible assets
|
Fixtures and fittings |
Office equipment |
Total |
|
£ |
£ |
£ |
|
Cost |
|
|
|
|
At 1 June 2023 and 31 May 2024 |
7,955 |
6,000 |
13,955 |
|
------- |
------- |
-------- |
|
Depreciation |
|
|
|
|
At 1 June 2023 and 31 May 2024 |
7,955 |
6,000 |
13,955 |
|
------- |
------- |
-------- |
|
Carrying amount |
|
|
|
|
At 31 May 2024 |
– |
– |
– |
|
------- |
------- |
-------- |
|
At 31 May 2023 |
– |
– |
– |
|
------- |
------- |
-------- |
|
|
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
66,926 |
49,370 |
|
Other debtors |
4,319 |
38,717 |
|
-------- |
-------- |
|
71,245 |
88,087 |
|
-------- |
-------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
9,991 |
9,746 |
|
Trade creditors |
16,970 |
28,657 |
|
Corporation tax |
64,892 |
77,329 |
|
Social security and other taxes |
16,610 |
13,920 |
|
Other creditors |
3,143 |
3,837 |
|
--------- |
--------- |
|
111,606 |
133,489 |
|
--------- |
--------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
10,765 |
21,001 |
|
-------- |
-------- |
|
|
|
10.
Financial instruments
The carrying amount for each category of financial instrument is as follows:
Financial assets measured at fair value through profit or loss
|
Financial assets measured at fair value through profit or loss |
117,618 |
119,282 |
|
--------- |
--------- |
|
|
|
Financial liabilities measured at fair value through profit or loss
|
Financial liabilities measured at fair value through profit or loss |
40,973 |
63,345 |
|
-------- |
-------- |
|
|
|