Intervari Design Limited 28/02/2025 iXBRL

Company registration number: 13191494

Intervari Design Limited

Unaudited filleted financial statements

28 February 2025

Intervari Design Limited

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

Intervari Design Limited

Directors and other information


Directors	Mr John McDowall
	Mr Stephen Boad	(Appointed 1 February 2025)


Company number	13191494


Registered office	86 High Street
	Hemel Hempstead
	Herts
	HP1 3AH


Business address	Unit 5a Shakespeare Ind Est
	Shakespreare Street
	Watford
	Herts
	WD24 5RR


Accountants	Hicks And Company
	Chartered Accountants
	83 High Street
	Hemel Hempstead
	Herts
	HP1 3AH

Intervari Design Limited

Statement of financial position

28 February 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets		126,206		97,588
		_______		_______
			126,206		97,588

Current assets
Stocks		99,743		138,751
Debtors	6	107,774		260,888
Cash at bank and in hand		62,658		59,653
		_______		_______
		270,175		459,292
Creditors: amounts falling due
within one year	7	( 313,245)		( 488,345)
		_______		_______
Net current liabilities			( 43,070)		( 29,053)
			_______		_______
Total assets less current liabilities			83,136		68,535

			_______		_______
Net assets			83,136		68,535
			_______		_______

Capital and reserves
Profit and loss account			83,136		68,535
			_______		_______
Shareholders funds			83,136		68,535
			_______		_______

For the year ending 28 February 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 financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 18 September 2025 , and are signed on behalf of the board by:

Mr Stephen Boad

Director

Company registration number: 13191494

Intervari Design Limited

Notes to the financial statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 86 High Street, Hemel Hempstead, Herts, HP1 3AH.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	25 %	reducing balance
Motor vehicles	-	20 %	reducing balance
Showroom display	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2024: 10 ).

5. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Showroom display	Total
	£	£	£	£	£
Cost
At 29 February 2024	47,666	4,379	104,352	-	156,397
Additions	10,100	1,509	29,648	21,026	62,283
Disposals	( 1,349)	-	-	-	( 1,349)
	_______	_______	_______	_______	_______
At 28 February 2025	56,417	5,888	134,000	21,026	217,331
	_______	_______	_______	_______	_______
Depreciation
At 29 February 2024	22,241	1,958	34,610	-	58,809
Charge for the year	6,901	983	19,878	5,256	33,018
Disposals	( 702)	-	-	-	( 702)
	_______	_______	_______	_______	_______
At 28 February 2025	28,440	2,941	54,488	5,256	91,125
	_______	_______	_______	_______	_______
Carrying amount
At 28 February 2025	27,977	2,947	79,512	15,770	126,206
	_______	_______	_______	_______	_______
At 28 February 2024	25,425	2,421	69,742	-	97,588
	_______	_______	_______	_______	_______

6. Debtors

	2025	2024
	£	£
Trade debtors	71,364	240,584
Other debtors	36,410	20,304
	_______	_______
	107,774	260,888
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	233,369	359,511
Social security and other taxes	13,821	61,172
Other creditors	66,055	67,662
	_______	_______
	313,245	488,345
	_______	_______

8. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr Stephen Boad	( 6,815)	3,287	( 3,528)
		_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr Stephen Boad	( 6,815)	-	( 6,815)
		_______	_______	_______