ACCOUNTS - Final Accounts preparation

Registered number: 15559889

HOME FURNITURE DESIGN LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

HOME FURNITURE DESIGN LIMITED

REGISTERED NUMBER: 15559889

BALANCE SHEET

AS AT 31 MARCH 2025

		31 March 2025
Note		£

Fixed assets
Intangible assets	4		32,400
Tangible assets	5		4,229
			36,629
Current assets
Stocks	6	107,067
Debtors: amounts falling due within one year	7	12,547
Cash at bank and in hand	8	25,535
		145,149
Creditors: amounts falling due within one year	9	(181,777)
Net current (liabilities)/assets			(36,628)
Total assets less current liabilities			1

Net assets			1

Capital and reserves
Called up share capital	10	1
		1

Page 1

HOME FURNITURE DESIGN LIMITED

REGISTERED NUMBER: 15559889

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 on 10 December 2025.

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

Michael Hawke

Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

HOME FURNITURE DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

1.	General information

Home Furniture Design Limited is a private company limited by shares, incorporated in England and Wales on 13 March 2024. The principal activity throughout the period was that of sale of furniture. The Company started trading on 01 April 2025.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and 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

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

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

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

HOME FURNITURE DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.3

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

HOME FURNITURE DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.6

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and on reducing balance basis.

Depreciation is provided on the following basis:

				Motor vehicles	-	25%	reducing balance
				Fixtures and fittings	-	33%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

2.8

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.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

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.

2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

HOME FURNITURE DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

Employees

The average monthly number of employees, including directors, during the period was 1.

4.	Intangible assets

		Goodwill
		£
	Cost
	Additions	36,000
	At 31 March 2025	36,000
	Amortisation
	Charge for the period on owned assets	3,600
	At 31 March 2025	3,600
	Net book value
	At 31 March 2025	32,400

Page 6

HOME FURNITURE DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

5.	Tangible fixed assets

	Motor vehicles	Fixtures and fittings	Total
	£	£	£
Cost or valuation
Additions	2,276	3,783	6,059
At 31 March 2025	2,276	3,783	6,059
Depreciation
Charge for the period on owned assets	569	1,261	1,830
At 31 March 2025	569	1,261	1,830
Net book value
At 31 March 2025	1,707	2,522	4,229

6.	Stocks
		Period 31 March 2025
		£

	Finished goods and goods for resale	107,067
		107,067

Debtors

					Period 31 March 2025
					£


	Trade debtors	11,969
	Prepayments and accrued income	578
		12,547

Page 7

HOME FURNITURE DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2025

8.	Cash and cash equivalents
		Period 31 March 2025
		£

	Cash at bank and in hand	25,535
		25,535

9.	Creditors: Amounts falling due within one year
		Period 31 March 2025
		£

	Corporation tax	9,493
	Other taxation and social security	14,089
	Other creditors	156,515
	Accruals and deferred income	1,680
		181,777

10.	Share capital
		Period 31 March 2025
		£

		Allotted, called up and fully paid

		100 Ordinary shares of £0.01 each	1

Upon incorporation 100 Ordinary £0.01 shares were issued at par.

11.	Pension commitments

The Company operates a defined contributions 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 £10,000. Contributions totalling £Nil were payable to the fund at the balance sheet date.

12.	Controlling party

The Company is controlled by the director, Michael Hawke, by virtue of his shareholding, as described in the Director's report.

Page 8