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Registered number: 06778401










Value Interiors Limited










Financial statements

Information for filing with the registrar

For the Year Ended 30 September 2024

 
Value Interiors Limited
Registered number: 06778401

Balance Sheet
As at 30 September 2024

2024
2024
2023
2023
Note
£
£
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
10,306
4,300

Cash at bank and in hand
 5 
62,720
18,395

  
73,026
22,695

Creditors: amounts falling due within one year
 6 
(29,957)
(5,352)

Net current assets
  
 
 
43,069
 
 
17,343

Total assets less current liabilities
  
43,069
17,343

  

Net assets
  
43,069
17,343


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
43,067
17,341

  
43,069
17,343


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 March 2025.




M Johnston
Director

The notes on pages 2 to 5 form part of these financial statements.
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Page 1

 
Value Interiors Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 September 2024

1.


General information

Value Interiors Limited 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. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of John Hogg & Co Limited as at 30 September 2024 and these financial statements may be obtained from Companies House.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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Page 2

 
Value Interiors Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 3).

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Page 3

 
Value Interiors Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 September 2024

4.


Debtors

2024
2023
£
£


Trade debtors
10,306
4,300

10,306
4,300



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
62,720
18,395

62,720
18,395



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
13,332
1,188

Corporation tax
12,616
4,041

Other taxation and social security
4,009
123

29,957
5,352



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



8.


Related party transactions

The company has taken advantage of the exemption under paragraph 33.1A from the provisions of FRS 102, on the grounds that at 30 September 2024 it was a wholly owned subsidiary. 

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Page 4

 
Value Interiors Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 September 2024

9.


Ultimate parent undertaking and controlling party

The company's immediate parent undertaking is Ulster Weavers Limited, a company incorporated in Northern Ireland.  The company's ultimate parent undertaking is John Hogg & Co, Limited, a company incorporated in Northern Ireland.  Consolidated financial statements are prepared for John Hogg & Co, Limited, copies of the group financial statements are available to the public from Companies House, Second Floor, The Linenhall, 32-38 Linenhall Street, Belfast, BT2 8BG. 
The ultimate controlling parties are the shareholders of John Hogg & Co, Limited.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 6 March 2025 by Brian Clerkin (Senior Statutory Auditor) on behalf of Sumer Auditco NI Limited.


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Page 5