Ideal Upholstery Limited 08796750 false 2023-12-01 2024-11-30 2024-11-30 The principal activity of the company is retail of household furniture. Digita Accounts Production Advanced 6.30.9574.0 true true 08796750 2023-12-01 2024-11-30 08796750 2024-11-30 08796750 core:RetainedEarningsAccumulatedLosses 2024-11-30 08796750 core:ShareCapital 2024-11-30 08796750 core:CurrentFinancialInstruments 2024-11-30 08796750 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 08796750 core:Non-currentFinancialInstruments 2024-11-30 08796750 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 08796750 bus:SmallEntities 2023-12-01 2024-11-30 08796750 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 08796750 bus:FilletedAccounts 2023-12-01 2024-11-30 08796750 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 08796750 bus:RegisteredOffice 2023-12-01 2024-11-30 08796750 bus:Director1 2023-12-01 2024-11-30 08796750 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 08796750 countries:EnglandWales 2023-12-01 2024-11-30 08796750 2022-12-01 2023-11-30 08796750 2023-11-30 08796750 core:RetainedEarningsAccumulatedLosses 2023-11-30 08796750 core:ShareCapital 2023-11-30 08796750 core:CurrentFinancialInstruments 2023-11-30 08796750 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 08796750 core:Non-currentFinancialInstruments 2023-11-30 08796750 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 iso4217:GBP xbrli:pure

Registration number: 08796750

Ideal Upholstery Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Ideal Upholstery Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Ideal Upholstery Limited

(Registration number: 08796750)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

26,033

33,333

Cash at bank and in hand

 

8

5

 

26,041

33,338

Creditors: Amounts falling due within one year

5

(4,675)

(5,367)

Total assets less current liabilities

 

21,366

27,971

Creditors: Amounts falling due after more than one year

5

(23,719)

(29,721)

Net liabilities

 

(2,353)

(1,750)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(2,354)

(1,751)

Shareholders' deficit

 

(2,353)

(1,750)

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 August 2025
 

.........................................
M Javeed
Director

 

Ideal Upholstery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
341 Kings Causeway
Brierfield
NELSON
Lancashire
BB9 0EZ
England

These financial statements were authorised for issue by the director on 27 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

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

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

 

Ideal Upholstery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Ideal Upholstery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

25,199

32,500

Other debtors

 

834

833

 

26,033

33,333

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

4,139

4,139

Trade creditors

 

11

703

Accruals and deferred income

 

525

525

 

4,675

5,367

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

23,719

29,721

6

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

23,719

29,721

Current loans and borrowings

2024
£

2023
£

Bank borrowings

4,139

4,139