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Registration number: 13572804

KDS Interiors Ltd

trading as Dream Doors North Somerset

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

KDS Interiors Ltd

trading as Dream Doors North Somerset

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

KDS Interiors Ltd

trading as Dream Doors North Somerset

(Registration number: 13572804)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

35,240

52,860

Tangible assets

5

9,647

12,863

 

44,887

65,723

Current assets

 

Stocks

6

31,527

-

Debtors

7

20,693

19,990

Cash at bank and in hand

 

73,831

32,168

 

126,051

52,158

Creditors: Amounts falling due within one year

8

(200,768)

(92,593)

Net current liabilities

 

(74,717)

(40,435)

Total assets less current liabilities

 

(29,830)

25,288

Creditors: Amounts falling due after more than one year

8

-

(24,358)

Net (liabilities)/assets

 

(29,830)

930

Capital and reserves

 

Called up share capital

10,000

10,000

Retained earnings

(39,830)

(9,070)

Shareholders' (deficit)/funds

 

(29,830)

930

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

KDS Interiors Ltd

trading as Dream Doors North Somerset

(Registration number: 13572804)
Balance Sheet as at 31 August 2024

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 18 August 2025 and signed on its behalf by:
 

.........................................
Mr David Wenn
Director

   
     
 

KDS Interiors Ltd

trading as Dream Doors North Somerset

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
225 Phoenix Way
Portishead
Bristol
BS20 7PB
England

These financial statements were authorised for issue by the Board on 18 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the shareholders that they will continue to give financial support to the company for twelve months from the date of signing these accounts.

On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above may not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustments to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

 

KDS Interiors Ltd

trading as Dream Doors North Somerset

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Reducing Balance

Fixtures & Fittings

25% Reducing Balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

KDS Interiors Ltd

trading as Dream Doors North Somerset

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Asset class

Amortisation method and rate

Goodwill

Over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

KDS Interiors Ltd

trading as Dream Doors North Somerset

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

KDS Interiors Ltd

trading as Dream Doors North Somerset

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

88,100

88,100

At 31 August 2024

88,100

88,100

Amortisation

At 1 September 2023

35,240

35,240

Amortisation charge

17,620

17,620

At 31 August 2024

52,860

52,860

Carrying amount

At 31 August 2024

35,240

35,240

At 31 August 2023

52,860

52,860

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

22,644

22,644

At 31 August 2024

22,644

22,644

Depreciation

At 1 September 2023

9,781

9,781

Charge for the year

3,216

3,216

At 31 August 2024

12,997

12,997

Carrying amount

At 31 August 2024

9,647

9,647

At 31 August 2023

12,863

12,863

 

KDS Interiors Ltd

trading as Dream Doors North Somerset

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Stocks

2024
£

2023
£

Work in progress

31,527

-

7

Debtors

Current

2024
£

2023
£

Trade debtors

14,551

2,536

Prepayments

4,900

7,000

Other debtors

1,242

10,454

 

20,693

19,990

 

KDS Interiors Ltd

trading as Dream Doors North Somerset

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

24,358

14,144

Trade creditors

 

10,634

16,358

Taxation and social security

 

10,855

3,483

Accruals and deferred income

 

27,426

955

Other creditors

 

127,495

57,653

 

200,768

92,593

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £24,357.51 (2023 - £14,144.00).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

24,358

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £0.00 (2023 - £24,357.51).

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

24,358

Current loans and borrowings

2024
£

2023
£

Bank borrowings

24,358

14,144