ACCOUNTS - Final Accounts

Company registration number: 12080678

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2023

	ONE IA DESIGN UK LIMITED


ONE IA DESIGN UK LIMITED

COMPANY INFORMATION

Directors	David Marion Bourke
	Timothy Hardingham


Company secretary	Interior Architects, Inc.


Registered number	12080678


Registered office	Harella House, 4th Floor
	90-98 Goswell Road
	London
	EC1V 7DF


Independent auditor	Menzies LLP
	Chartered Accountants & Statutory Auditor
	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


ONE IA DESIGN UK LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 4


ONE IA DESIGN UK LIMITED REGISTERED NUMBER:12080678

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2023

		2023		2022
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	32,470		18,296
		32,470		18,296
Creditors: amounts falling due within one year	5	(610,723)		(407,360)
Net current liabilities			(578,253)		(389,064)
Total assets less current liabilities			(578,253)		(389,064)

Net liabilities			(578,253)		(389,064)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(578,353)	(389,164)
	(578,253)	(389,064)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Timothy Hardingham

Director

Date: 29 September 2025

The notes on pages 2 to 4 form part of these financial statements.

Page 1


ONE IA DESIGN UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1.	General information

One IA Design UK Limited is a private company, limited by shares, registered in England & Wales under the Companies Act 2006. The registered office and principal place of business is disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The Directors have made an assessment of the Company’s ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. In forming this assessment, the Directors have considered the Company’s financial position, cash flow forecasts, and projected funding requirements.The Directors note that the Company is dependent on the continued financial support of its parent undertaking, which has formally confirmed its intention and ability to provide financial support to the Company for the foreseeable future, and at least for the twelve-month period from the date of approval of these financial statements. Having considered these factors, the Directors are satisfied that the Company has adequate resources to meet its obligations as they fall due and to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2


ONE IA DESIGN UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes for the provision of architectural, landscape and interior design services. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 5).

Page 3


ONE IA DESIGN UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

Debtors

					2023	2022
					£	£


Trade debtors	25,976	12,934
Prepayments and accrued income	6,494	5,362
	32,470	18,296

5.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Amounts owed to group undertakings	567,931	392,604
Other taxation and social security	7,717	9,889
Accruals and deferred income	35,075	4,867
	610,723	407,360

6.	Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,759 (2022: £8,262). Contributions totalling £1,869 (2022: £1,243) were payable to the fund at the balance sheet date and are included in creditors.

7.	Parent company

The smallest and the largest group in which the company is a member, and for which group accounts are made up is Interior Architects, Inc. located at 500 Sansome Street, 8th Floor, San Francisco, United States of America, CA 94111.

8.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 29 September 2025 by Nimita Chan FCCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 4