Improvement House Ltd

	Page
Accountant's Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—7

Report to the directors on the preparation of the unaudited statutory accounts of Improvement House Ltd For The Year Ended 30 November 2024

To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Improvement House Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the directors of Improvement House Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Improvement House Ltd and state those matters that we have agreed to state to the directors of Improvement House Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Improvement House Ltd and its directors as a body for our work or for this report.

It is your duty to ensure that Improvement House Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Improvement House Ltd . You consider that Improvement House Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Improvement House Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

Robert Fiford FCCA

29/10/2025

dines Accountancy Limited

ACCA

Edinburgh House

170 Kennington Lane

London

SE11 5DP

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Improvement House Ltd

Balance Sheet

As At 30 November 2024

Balance Sheet

Registered number: 08660695

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		35,914		47,362

			35,914		47,362
CURRENT ASSETS
Stocks	5	627,140		558,552
Debtors	6	26,631		26,908
Cash at bank and in hand		1		21,016

		653,772		606,476
Creditors: Amounts Falling Due Within One Year	7	(672,915 )		(462,451 )

NET CURRENT ASSETS (LIABILITIES)			(19,143 )		144,025

TOTAL ASSETS LESS CURRENT LIABILITIES			16,771		191,387

Creditors: Amounts Falling Due After More Than One Year	8		(102,958 )		(129,013 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(8,269 )		(11,085 )

NET (LIABILITIES)/ASSETS			(94,456 )		51,289

CAPITAL AND RESERVES
Called up share capital	10		2		2
Share premium account			29,999		29,999
Capital redemption reserve			1		1
Profit and Loss Account			(124,458 )		21,287

SHAREHOLDERS' FUNDS			(94,456)		51,289

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Improvement House Ltd

Balance Sheet (continued)

As At 30 November 2024

For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr P Smith

Director

29/10/2025

The notes on pages 4 to 7 form part of these financial statements.

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Improvement House Ltd

Notes to the Financial Statements

For The Year Ended 30 November 2024

Notes to the Financial Statements

1. General Information

Improvement House Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08660695 . The registered office is 20-22 Wenlock Road, London, N1 7GU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

The directors have assessed the company's ability to continue as a going concern and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have confirmed their continued support to the company and, based on this assessment, consider it appropriate to prepare the financial statements on a going concern basis. The directors are not aware of any material uncertainties that may cast significant doubt upon the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% on cost & 15% reducing balance
Motor Vehicles	25% on cost
Fixtures & Fittings	25% on cost & 15% reducing balance
Computer Equipment	33% on cost

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Improvement House Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2024

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 11 (2023: 10)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 December 2023	110,143	20,734	2,175	8,281	141,333

As at 30 November 2024	110,143	20,734	2,175	8,281	141,333

Depreciation
As at 1 December 2023	80,813	5,568	2,131	5,459	93,971
Provided during the period	5,037	5,184	8	1,219	11,448

As at 30 November 2024	85,850	10,752	2,139	6,678	105,419

Net Book Value
As at 30 November 2024	24,293	9,982	36	1,603	35,914

As at 1 December 2023	29,330	15,166	44	2,822	47,362

5. Stocks

	2024	2023
	£	£
Finished goods	627,140	558,552

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Improvement House Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2024

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	18,129	5,705
Prepayments and accrued income	7,502	6,308
Other debtors	1,000	2,523
Corporation tax recoverable assets	-	12,372

	26,631	26,908

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	3,927	3,423
Trade creditors	108,170	75,104
Bank loans and overdrafts	29,147	49,321
Corporation tax	516	8,220
Other taxes and social security	221,442	131,597
VAT	245,985	134,324
Other creditors	43,101	49,062
Accruals and deferred income	18,688	10,350
Directors' loan accounts	1,939	1,050

	672,915	462,451

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	4,431	8,358
Bank loans	15,564	43,438
Directors loan account	82,963	77,217

	102,958	129,013

9. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	3,927	3,423
Later than one year and not later than five years	4,431	8,358

	8,358	11,781

	8,358	11,781

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2	2

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Improvement House Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2024

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	57,000	43,488

	57,000	43,488

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