Registration number: 14575606

South Liverpool Interiors Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

South Liverpool Interiors Ltd

(Registration number: 14575606)
Balance Sheet as at 31 January 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	13,860	18,480
Tangible assets	5	9,342	11,890
		23,202	30,370
Current assets
Stocks		22,743	-
Debtors	6	34,371	13,528
Cash at bank and in hand		9,597	14,361
		66,711	27,889
Creditors: Amounts falling due within one year	7	(158,250)	(63,949)
Net current liabilities		(91,539)	(36,060)
Total assets less current liabilities		(68,337)	(5,690)
Creditors: Amounts falling due after more than one year	7	(33,814)	(60,320)
Provisions for liabilities		(2,335)	-
Net liabilities		(104,486)	(66,010)
Capital and reserves
Called up share capital		2	2
Retained earnings		(104,488)	(66,012)
Shareholders' deficit		(104,486)	(66,010)

For the financial year ending 31 January 2025 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.

These financial statements have been prepared and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

South Liverpool Interiors Ltd

(Registration number: 14575606)
Balance Sheet as at 31 January 2025

Approved and authorised by the Board on 10 September 2025 and signed on its behalf by:
 

......................................... Mr D L McGuinness Director

......................................... Miss J Avis Director

South Liverpool Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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:
64 Allerton Road
Liverpool
L18 1LW
England

These financial statements were authorised for issue by the Board on 10 September 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.

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 from the sale of goods and provision of services at the point the products are installed and associated services delivered.

Tax

The tax expense for the period comprises deferred 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.

South Liverpool Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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
Motor Vehicles	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:

Asset class	Amortisation method and rate
Franchise Fee	20% Straight Line

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.

South Liverpool Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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.

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.

South Liverpool Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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 3 (2024 - 2).

South Liverpool Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4	Intangible assets

	Franchise Fees £	Total £
Cost or valuation
At 1 February 2024	23,100	23,100
At 31 January 2025	23,100	23,100
Amortisation
At 1 February 2024	4,620	4,620
Amortisation charge	4,620	4,620
At 31 January 2025	9,240	9,240
Carrying amount
At 31 January 2025	13,860	13,860
At 31 January 2024	18,480	18,480

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 February 2024	1,271	14,583	15,854
Additions	565	-	565
At 31 January 2025	1,836	14,583	16,419
Depreciation
At 1 February 2024	318	3,646	3,964
Charge for the year	379	2,734	3,113
At 31 January 2025	697	6,380	7,077
Carrying amount
At 31 January 2025	1,139	8,203	9,342
At 31 January 2024	953	10,937	11,890

The net book value of tangible assets includes £8,203 in respect of assets held under hire purchase or finance lease contracts.

South Liverpool Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Debtors

Current	2025 £	2024 £
Trade debtors	26,833	4,008
Prepayments	7,140	9,520
Other debtors	398	-
	34,371	13,528

South Liverpool Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	54,492	6,090
Trade creditors		17,849	6,376
Taxation and social security		7,904	2,485
Accruals and deferred income		19,748	955
Other creditors		58,257	48,043
		158,250	63,949

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £54,492 (2024 - £6090)

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	33,814	60,320

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £33,814 (2024 -£60,320).

South Liverpool Interiors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	26,278	48,620
Hire purchase contracts	7,536	11,700
	33,814	60,320

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	50,328	3,190
Hire purchase contracts	4,164	2,900
	54,492	6,090

9	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	5,813	3,488
Later than one year and not later than five years	19,378	23,253
Later than five years	-	1,938
	25,191	28,679

The amount of non-cancellable operating lease payments recognised as an expense during the year was £5,813 (2024 - £3,488).