REGISTERED NUMBER: NI607376 (Northern Ireland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DECOR IRELAND LTD

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

L A P Hamilton

N G Hamilton

M Taylor

REGISTERED OFFICE:

10 Flush Park

Lisburn

Co. Antrim

BT28 2DX

REGISTERED NUMBER:

NI607376 (Northern Ireland)

ACCOUNTANTS:

Baker Tilly Mooney Moore

17 Clarendon Road

Belfast

BT1 3BG

BANKERS:

Ulster Bank Limited

2 Farmley Road

Glengormley

Newtownabbey

Co. Antrim

BT36 7QU

SOLICITORS:

Elliott Duffy Garrett

40 Linenhall Street

Belfast

BT2 8BA

FIXED ASSETS

Intangible assets

4

-

60,000

Tangible assets

5

341,420

315,494

341,420

375,494

CURRENT ASSETS

Stocks

1,194,160

1,765,567

Debtors

6

1,566,300

1,687,813

Cash at bank and in hand

300,589

578,788

3,061,049

4,032,168

CREDITORS

Amounts falling due within one year

7

1,201,436

1,923,278

NET CURRENT ASSETS

1,859,613

2,108,890

TOTAL ASSETS LESS CURRENT LIABILITIES

2,201,033

2,484,384

CREDITORS

Amounts falling due after more than one year

8

(49,599

)

(64,156

)

PROVISIONS FOR LIABILITIES

(59,839

)

(69,703

)

NET ASSETS

2,091,595

2,350,525

CAPITAL AND RESERVES

Called up share capital

61

61

Capital redemption reserve

39

39

Retained earnings

2,091,495

2,350,425

SHAREHOLDERS' FUNDS

2,091,595

2,350,525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were authorised for issue by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

L A P Hamilton - Director

1.	STATUTORY INFORMATION

Decor Ireland Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

Establish whether there are indicators of impairment of the company's intangible and tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general.

Consider the recoverability of trade debtors and the need for impairment provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period.

Consider the valuation of stock and the requirement for write down provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience and knowledge of the sector. Stock identified as impaired will be written down in value in the relevant period.

The directors also consider the amortisation and depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on cost

Plant and machinery

-

20% on reducing balance and 20% on cost

Fixtures, fittings & equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost and 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors

Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating leasing commitments

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

600,000

AMORTISATION

At 1 January 2024

540,000

Amortisation for year

60,000

At 31 December 2024

600,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

60,000

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures,

to

Plant and

fittings

property

machinery

& equipment

£

£

£

COST

At 1 January 2024

147,528

45,766

147,805

Additions

-

-

-

At 31 December 2024

147,528

45,766

147,805

DEPRECIATION

At 1 January 2024

14,753

36,950

82,784

Charge for year

14,753

4,358

13,005

At 31 December 2024

29,506

41,308

95,789

NET BOOK VALUE

At 31 December 2024

118,022

4,458

52,016

At 31 December 2023

132,775

8,816

65,021

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

34,958

168,811

544,868

Additions

100,762

27,506

128,268

At 31 December 2024

135,720

196,317

673,136

DEPRECIATION

At 1 January 2024

4,406

90,481

229,374

Charge for year

23,338

46,888

102,342

At 31 December 2024

27,744

137,369

331,716

NET BOOK VALUE

At 31 December 2024

107,976

58,948

341,420

At 31 December 2023

30,552

78,330

315,494

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,282,327

1,331,887

Other debtors

283,973

355,926

1,566,300

1,687,813

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

833,341

1,189,727

Taxation and social security

23,095

121,883

Other creditors

345,000

611,668

1,201,436

1,923,278

Included in other creditors falling due within one year are balances due to related parties of £155,913 (2023: £325,257) which are interest free and considered repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

49,599

64,156

Included in other creditors falling due after one year are balances due to related parties of £49,599 (2023: £64,156) which are interest free and have no fixed repayment terms.

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

187,500

180,000

Between one and five years

750,000

720,000

In more than five years

562,500

720,000

1,500,000

1,620,000