| Feature Interiors Limited |
| Registered number: |
11905428 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
50,208 |
|
|
45,958 |
| Tangible assets |
4 |
|
|
12,843 |
|
|
14,474 |
|
|
|
|
63,051 |
|
|
60,432 |
|
| Current assets |
| Stocks |
|
|
14,104 |
|
|
13,146 |
| Debtors |
5 |
|
39,216 |
|
|
51,359 |
| Cash at bank and in hand |
|
|
12,981 |
|
|
20,500 |
|
|
|
66,301 |
|
|
85,005 |
|
| Creditors: amounts falling due within one year |
6 |
|
(142,793) |
|
|
(139,513) |
|
| Net current liabilities |
|
|
|
(76,492) |
|
|
(54,508) |
| Total assets less current liabilities |
|
|
|
(13,441) |
|
|
5,924 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(1,049) |
|
|
(8,362) |
|
| Provisions for liabilities - deferred tax |
|
|
|
(300) |
|
|
(1,900) |
|
|
| Net liabilities |
|
|
|
(14,790) |
|
|
(4,338) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
200 |
|
|
200 |
| Profit and loss account |
|
|
|
(14,990) |
|
|
(4,538) |
| Shareholders' funds |
|
|
|
(14,790) |
|
|
(4,338) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
| Mr A.J. Nixon |
| Director |
| Approved by the board on 19 December 2025 |
|
| Feature Interiors Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Going concern |
|
The directors believe the company is experiencing healthier levels of sales and profitability in the current year and the directors who are owed money (see note 6) are happy to continue to support the company. Therefore they believe the company it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements. |
|
|
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Leasehold Property, Plant and Machinery |
4 years straight line basis |
|
|
Stocks |
|
Stocks are measured at the lower of cost and net realisable value. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. |
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Grants |
|
Grants are recognised using the accrual model per section 24 of FRS102. Revenue grants appear as other operating income on a sytematic basis over the period the company expects to incur the related costs the grant is intended to compensate for. |
|
|
Pensions |
|
All contributions to defined contribution plans for the employees are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company (including directors) during the year |
|
11 |
|
15 |
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 April 2024 |
57,500 |
|
Additions |
7,500 |
|
At 31 March 2025 |
65,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2024 |
11,542 |
|
Provided during the year |
3,250 |
|
At 31 March 2025 |
14,792 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
50,208 |
|
At 31 March 2024 |
45,958 |
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
Leasehold Property |
|
Plant and Machinery |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 April 2024 |
14,805 |
|
56,107 |
|
70,912 |
|
Additions |
- |
|
7,130 |
|
7,130 |
|
At 31 March 2025 |
14,805 |
|
63,237 |
|
78,042 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
10,361 |
|
46,077 |
|
56,438 |
|
Charge for the year |
1,111 |
|
7,650 |
|
8,761 |
|
At 31 March 2025 |
11,472 |
|
53,727 |
|
65,199 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
3,333 |
|
9,510 |
|
12,843 |
|
At 31 March 2024 |
4,444 |
|
10,030 |
|
14,474 |
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
30,050 |
|
44,037 |
|
Prepayments |
9,166 |
|
7,322 |
|
|
|
|
|
|
39,216 |
|
51,359 |
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loan |
6,293 |
|
6,000 |
|
Finance lease & hire purchase obligations (secured) |
898 |
|
2,155 |
|
Trade creditors |
76,871 |
|
65,434 |
|
Directors' loan accounts |
|
25,755 |
|
28,764 |
|
Taxation and social security costs |
19,099 |
|
22,355 |
|
Accruals |
13,877 |
|
14,805 |
|
|
|
|
|
|
142,793 |
|
139,513 |
|
Finance lease and hire purchase creditors are secured on the fixed assets concerned. Both the bank loan and finance lease and hire purchase creditors carry commercial rates of interest and therefore have carrying amounts equivalent to their fair values. |
|
| 7 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
Bank loan |
1,049 |
|
7,464 |
|
Finance lease & hire purchase obligations (secured) |
- |
|
898 |
|
|
|
|
|
|
1,049 |
|
8,362 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Other financial commitments |
2025 |
|
2024 |
| £ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
3,583 |
|
18,416 |
|
|
|
|
|
|
|
|
|
| 9 |
Other information |
|
Feature Interiors Limited is a private company limited by shares and incorporated in England. Its registered office is : Unit 3 The New Mill, George Street, Milnsbridge, Huddersfield, West Yorkshire, HD3 4JD. |
|
The financial statements are presented in Sterling, which is the functional currency of the company. |