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Company No: 02213467 (England and Wales)

NICOLA O'MARA INTERIOR DESIGN LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

NICOLA O'MARA INTERIOR DESIGN LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

NICOLA O'MARA INTERIOR DESIGN LIMITED

BALANCE SHEET

As at 31 August 2024
NICOLA O'MARA INTERIOR DESIGN LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 31,520 16,589
31,520 16,589
Current assets
Debtors 4 486,102 352,649
Cash at bank and in hand 142,131 424,210
628,233 776,859
Creditors: amounts falling due within one year 5 ( 232,683) ( 390,905)
Net current assets 395,550 385,954
Total assets less current liabilities 427,070 402,543
Creditors: amounts falling due after more than one year 6 ( 14,036) ( 56,715)
Net assets 413,034 345,828
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 413,032 345,826
Total shareholders' funds 413,034 345,828

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Nicola O'Mara Interior Design Limited (registered number: 02213467) were approved and authorised for issue by the Board of Directors on 21 August 2025. They were signed on its behalf by:

N J O'Mara
Director
NICOLA O'MARA INTERIOR DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
NICOLA O'MARA INTERIOR DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Nicola O'Mara Interior Design Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery Vehicles Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 September 2023 0 23,270 5,059 5,172 33,501
Additions 3,238 17,511 0 3,580 24,329
At 31 August 2024 3,238 40,781 5,059 8,752 57,830
Accumulated depreciation
At 01 September 2023 0 11,544 3,584 1,784 16,912
Charge for the financial year 712 6,944 369 1,373 9,398
At 31 August 2024 712 18,488 3,953 3,157 26,310
Net book value
At 31 August 2024 2,526 22,293 1,106 5,595 31,520
At 31 August 2023 0 11,726 1,475 3,388 16,589

4. Debtors

2024 2023
£ £
Trade debtors 24,569 26,680
Amounts owed by related parties 394,400 320,455
Other debtors 67,133 5,514
486,102 352,649

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,108 10,442
Trade creditors 58,679 34,387
Taxation and social security 39,057 105,406
Obligations under finance leases and hire purchase contracts 3,000 4,500
Other creditors 121,839 236,170
232,683 390,905

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 14,036 23,715
Obligations under finance leases and hire purchase contracts 0 3,000
Other creditors 0 30,000
14,036 56,715

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2