REGISTERED NUMBER: 04511910 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

INTERIORS WITH ART LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

7

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

14

Cash Flow Statement

15

Notes to the Cash Flow Statement

16

Notes to the Financial Statements

17

DIRECTORS:

S D Sharma

MS S R Vohora

Ms S Vohora

SECRETARY:

P C Thomas

REGISTERED OFFICE:

84 Drayton Gardens

London

Greater London

SW10 9SD

REGISTERED NUMBER:

04511910 (England and Wales)

AUDITORS:

CKRD Accountants Ltd - Statutory Auditors

194 Honeypot Lane

Stanmore

HA7 1EE

The Directors present their strategic report for the year ended 30th September 2024

REVIEW OF BUSINESS

The Company specializes in high-end design and construction services, catering to discerning clients seeking luxury residential excellence. This strategic report outlines our current market position, identifies key opportunities and challenges, and provides actionable recommendations to enhance their competitive advantage and drive sustainable growth. In the last financial year, the company has seen tremendous growth. In particular, increasing their net profit margin to 4% (2023: 2.6%)

Industry Overview

The company is experiencing growth, driven by increased demand for bespoke solutions, and a growing appreciation for high-quality craftsmanship. The global luxury market is projected to expand by 5-7% annually over the next five years.

Target Market

Our primary clients include affluent individuals, high-net-worth families, luxury real estate developers.

Competitive Landscape

The luxury construction market is competitive, with key players offering similar services. However, their commitment to quality, innovative design, and personalized service differentiates them. Competitors often lack the same level of attention to detail and customer engagement.

Action Plan

1. Marketing and Branding Strategy

• Digital Presence: Invest in a robust digital marketing strategy, including SEO, social media, and targeted online advertising.

• Networking Events: Host exclusive events and collaborate with luxury brands to enhance brand visibility.

• Client Testimonials: Leverage satisfied clients to share testimonials and case studies.

2. Service Diversification

• Sustainability Initiatives: Develop partnerships with eco-friendly material suppliers and promote sustainable design practices.

3. Geographic Expansion

• Market Research: Conduct thorough market research to identify key emerging luxury markets.

• Local Partnerships: Establish partnerships with local architects and real estate agents to facilitate entry into new markets.

4. Supply Chain Optimization

• Supplier Relationships: Strengthen relationships with suppliers to ensure priority access to materials.

Financial Projections

• Revenue Growth: Target is to increase annual revenue through new client acquisition and exploring new markets.

• Cost Management: Aim to reduce operational costs through supply chain optimization and efficiency improvements.

Principal Risks and Uncertainties

1. Competitive Environment

The luxury design and construction industry is characterized by intense competition. To maintain our market position, we must consistently deliver exceptional quality and service while remaining price-competitive. Failure to do so may result in lost opportunities, especially with repeat clients and referrals.

Mitigation Strategies:

• Regularly assess competitor offerings and pricing structures.

• Enhance customer engagement to ensure loyalty and satisfaction.

• Invest in ongoing training and development for staff to uphold quality standards.

2. Cash Management

Providing credit to clients is a common practice within our industry, but it poses risks to cash flow and liquidity. Delayed payments or defaults could significantly affect our operational capabilities and financial stability.

Mitigation Strategies:

• Implement stringent credit checks and limit credit exposure to high-risk clients.

• Develop clear payment terms and enforce them rigorously.

• Monitor cash flow forecasts closely to manage liquidity effectively.

3. Supply Chain Risks

A significant portion of our project delivery depends on external suppliers for materials and services. Disruptions in the supply chain can lead to project delays, increased costs, and diminished client satisfaction.

Mitigation Strategies:

• Establish strong relationships with multiple suppliers to diversify sources and reduce dependency.

• Conduct regular assessments of supplier performance and financial health.

• Maintain an inventory buffer for critical materials to mitigate supply disruptions.

4. Health and Safety Compliance

Health and safety regulations are paramount in the construction industry. Non-compliance not only poses legal risks but can also impact our reputation and employee morale. Any incidents can lead to financial liabilities and project delays.

Mitigation Strategies:

• Implement a robust health and safety management system, including regular training and audits.

• Foster a safety-first culture among all employees and subcontractors.

• Stay updated on regulatory changes and ensure compliance across all projects.

5. Labour Market Challenges

Access to skilled labour is crucial for the timely delivery of projects. The current labour market is competitive, and shortages can hinder our ability to meet project deadlines and maintain quality.

Mitigation Strategies:

• Develop a comprehensive recruitment strategy to attract and retain skilled labour.

• Offer competitive compensation packages and benefits to enhance employee satisfaction.

• Invest in training and development programs to upskill existing employees and fill labour gaps.

The directors are satisfied that the firm is preforming well in each of these key areas and continue to focus theorganization in improvements in these areas.

POSITION OF THE COMPANY’S BUSINESS AT YEAR END

The company has a high level of client satisfaction and continues to deliver exceptional projects. The company has net

assets of £6.6m (2023: £5.9m) at the balance sheet date.

KEY PERFORMANCE INDICATORS ("KPIS")

The key performance indicator is the net profit margin after tax, which is 4%. (2023: 2.6%) for the year.

ON BEHALF OF THE BOARD:

S D Sharma - Director

30 September 2025

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of interior design and construction.

DIVIDENDS

No dividends will be distributed for the year ended 30 September 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

S D Sharma

MS S R Vohora

Ms S Vohora

CHARITABLE DONATIONS

During the year company made charitable donations of £3,820 (2023: £7,295).

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

S D Sharma - Director

30 September 2025

Opinion

We have audited the financial statements of Interiors With Art Limited (the 'company') for the year ended 30 September 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of

accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic

alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of the director around actual and potential litigation and claims.

- Enquiry of the director and management involved in the accounting and compliance functions to identify any

instances of non-compliance with laws and regulations.

- We reviewed financial statement disclosures and tested to supporting documentation to assess compliance with

applicable laws and regulations.

- We audited the risk of management override of controls, including through testing journal entries and other

adjustments for appropriateness, and evaluating the business rationale of any significant transactions.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Kantilal Rabadia (Senior Statutory Auditor)

for and on behalf of CKRD Accountants Ltd - Statutory Auditors

194 Honeypot Lane

Stanmore

HA7 1EE

30 September 2025

TURNOVER

3

18,078,187

27,694,365

Cost of sales

14,851,345

24,758,199

GROSS PROFIT

3,226,842

2,936,166

Administrative expenses

2,313,170

2,038,553

OPERATING PROFIT

5

913,672

897,613

Interest receivable and similar income

49,227

10,276

962,899

907,889

Interest payable and similar expenses

6

1,137

3,643

PROFIT BEFORE TAXATION

961,762

904,246

Tax on profit

7

247,657

192,258

PROFIT FOR THE FINANCIAL YEAR

714,105

711,988

PROFIT FOR THE YEAR

714,105

711,988

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

714,105

711,988

FIXED ASSETS

Tangible assets

8

115,544

138,023

CURRENT ASSETS

Debtors

9

8,526,302

12,433,117

Cash at bank and in hand

2,786,736

857,720

11,313,038

13,290,837

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

10

4,752,073

7,451,208

NET CURRENT ASSETS

6,560,965

5,839,629

TOTAL ASSETS LESS CURRENT LIABILITIES

6,676,509

5,977,652

PROVISIONS FOR LIABILITIES

12

13,344

28,592

NET ASSETS

6,663,165

5,949,060

CAPITAL AND RESERVES

Called up share capital

13

500

500

Retained earnings

14

6,662,665

5,948,560

SHAREHOLDERS' FUNDS

6,663,165

5,949,060

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

S D Sharma - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 October 2022

500

5,236,572

5,237,072

Total comprehensive income

-

711,988

711,988

Balance at 30 September 2023

500

5,948,560

5,949,060

Total comprehensive income

-

714,105

714,105

Balance at 30 September 2024

500

6,662,665

6,663,165

Cash flows from operating activities

Cash generated from operations

1

2,020,260

360,988

Interest paid

(1,137

)

(3,643

)

Tax paid

53,150

(2,561

)

Net cash from operating activities

2,072,273

354,784

Cash flows from investing activities

Purchase of tangible fixed assets

(16,035

)

(25,841

)

Interest received

49,227

10,276

Net cash from investing activities

33,192

(15,565

)

Cash flows from financing activities

Loan repayments in year

(18,967

)

(752,530

)

Amount withdrawn by directors

(157,482

)

(203,790

)

Net cash from financing activities

(176,449

)

(956,320

)

Increase/(decrease) in cash and cash equivalents

1,929,016

(617,101

)

Cash and cash equivalents at beginning of year

2

857,720

1,474,821

Cash and cash equivalents at end of year

2

2,786,736

857,720

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30/9/24

30/9/23

£

£

Profit before taxation

961,762

904,246

Depreciation charges

38,516

46,007

Finance costs

1,137

3,643

Finance income

(49,227

)

(10,276

)

952,188

943,620

Decrease/(increase) in trade and other debtors

4,064,297

(5,294,459

)

(Decrease)/increase in trade and other creditors

(2,996,225

)

4,711,827

Cash generated from operations

2,020,260

360,988

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2024

30/9/24

1/10/23

£

£

Cash and cash equivalents

2,786,736

857,720

Year ended 30 September 2023

30/9/23

1/10/22

£

£

Cash and cash equivalents

857,720

1,474,821

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/10/23

Cash flow

At 30/9/24

£

£

£

Net cash

Cash at bank and in hand

857,720

1,929,016

2,786,736

857,720

1,929,016

2,786,736

Debt

Debts falling due within 1 year

(246,312

)

7,369

(238,943

)

(246,312

)

7,369

(238,943

)

Total

611,408

1,936,385

2,547,793

1.	STATUTORY INFORMATION

Interiors With Art Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

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

Revenue recognition

Revenue from the interior design and building project is recognised in stages from the commencement of the project to completion based on valuations of work completed and agreed with client / client's surveyors.

Revenue from the sale of design is recognised in different design stages (start of the project, Design Development, FF&E Presentation, Final Delivery to site) and revenue from sale of fixtures and furnishing is recognised once the goods have been delivered and the risks and rewards have been passed to the customer.

Tangible fixed assets

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

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

Improvements to property - 25% on reducing balance

Plant and machinery - 25% on reducing balance

Fixtures and fittings - 25% on reducing balance

Motor vehicles - 25% on reducing balance

Computer equipment - 25% on reducing balance

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.

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.

Hire purchase and leasing commitments

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

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.

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. Debtors receivable after 1 year have been shown at their Present Value with difference being accounted in the Statement of Income.

Holiday accrual

There is no holiday accrual for the current year and previous year.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

30/9/24

30/9/23

£

£

United Kingdom

10,612,165

14,502,954

Rest of the world

7,466,022

13,191,411

18,078,187

27,694,365

4.	EMPLOYEES AND DIRECTORS

30/9/24

30/9/23

£

£

Wages and salaries

1,301,344

1,135,307

Social security costs

130,633

116,085

Other pension costs

18,935

17,536

1,450,912

1,268,928

The average number of employees during the year was as follows:

30/9/24

30/9/23

Management, production and design

33

26

30/9/24

30/9/23

£

£

Directors' remuneration

210,000

210,000

Information regarding the highest paid director is as follows:

30/9/24

30/9/23

£

£

Emoluments etc

90,000

90,000

5.	OPERATING PROFIT

The operating profit is stated after charging:

30/9/24

30/9/23

£

£

Hire of plant and machinery

26,725

19,755

Depreciation - owned assets

38,514

46,010

Auditors' remuneration

15,000

9,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

30/9/24

30/9/23

£

£

Bank interest

1,137

3,643

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

30/9/24

30/9/23

£

£

Current tax:

UK corporation tax

251,309

51,276

Deferred tax

(3,652

)

140,982

Tax on profit

247,657

192,258

8.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 October 2023

158,553

266,507

21,010

Additions

-

2,932

-

At 30 September 2024

158,553

269,439

21,010

DEPRECIATION

At 1 October 2023

107,566

231,395

17,151

Charge for year

12,747

9,511

965

At 30 September 2024

120,313

240,906

18,116

NET BOOK VALUE

At 30 September 2024

38,240

28,533

2,894

At 30 September 2023

50,987

35,112

3,859