Making Rooms Limited - Period Ending 2024-08-31

Registration number: 06346818

Making Rooms Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

Making Rooms Limited

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Unaudited Financial Statements	3 to 8

Making Rooms Limited

Company Information

Director

S Nash

Company secretary

M Tinsiey

Registered office

Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

Accountants

Shaw Gibbs Limited Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

Making Rooms Limited

(Registration number: 06346818)
Statement of Financial Position as at 31 August 2024

	Note	2024 £	2023 £
Non-current assets
Property, plant and equipment	4	4,049	9,521
Current assets
Receivables	5	4,989	9,380
Cash at bank and in hand		72,429	24,908
		77,418	34,288
Payables: Amounts falling due within one year	6	(80,317)	(30,055)
Net current (liabilities)/assets		(2,899)	4,233
Total assets less current liabilities		1,150	13,754
Provisions for liabilities		(1,012)	(2,380)
Net assets		138	11,374
Equity
Called up share capital	7	100	100
Retained earnings		38	11,274
Shareholders' funds		138	11,374

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income statement.

The financial statements of Making Rooms Limited were approved and authorised for issue by the director on 21 April 2026

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

S Nash
Director

Making Rooms Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2024

1	General information

Making Rooms Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2	Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis in preparing the annual financial statements.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Making Rooms Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2024 (continued)

2	Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits
reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Property, plant and equipment

Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	25% straight line
Motor vehicles	25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Making Rooms Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2024 (continued)

2	Accounting policies (continued)

Receivables

Trade receivables are amounts due from customers for services performed in the ordinary course of business.

Trade receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Making Rooms Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2024 (continued)

2	Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

Making Rooms Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2024 (continued)

4	Property, plant and equipment

Furniture, fittings and equipment
£

Motor vehicles
£

Total
£

Cost

At 1 September 2023

2,084

12,695

14,779

Additions

5,399

-

5,399

Disposals

-

(12,695)

(12,695)

At 31 August 2024

7,483

-

7,483

Depreciation

At 1 September 2023

2,084

3,174

5,258

Charge for the year

1,350

-

1,350

Eliminated on disposal

-

(3,174)

(3,174)

At 31 August 2024

3,434

-

3,434

Carrying amount

At 31 August 2024

4,049

-

4,049

At 31 August 2023

-

9,521

9,521

5

Receivables

2024
£

2023
£

Trade receivables

1,088

8,380

Director's loan account

2,401

-

Other receivables

1,500

1,000

4,989

9,380

Making Rooms Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2024 (continued)

Payables

Payables: amounts falling due within one year

	2024 £	2023 £
Due within one year
Director's loan account	-	22
Corporation Tax	29,931	10,447
Social security and other taxes	50,386	19,586
	80,317	30,055

7	Share capital and reserves

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Reserves

The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

	Furniture, fittings and equipment £	Motor vehicles £	Total £
Cost
At 1 September 2023	2,084	12,695	14,779
Additions	5,399	-	5,399
Disposals	-	(12,695)	(12,695)
At 31 August 2024	7,483	-	7,483
Depreciation
At 1 September 2023	2,084	3,174	5,258
Charge for the year	1,350	-	1,350
Eliminated on disposal	-	(3,174)	(3,174)
At 31 August 2024	3,434	-	3,434
Carrying amount
At 31 August 2024	4,049	-	4,049
At 31 August 2023	-	9,521	9,521

	2024 £	2023 £
Trade receivables	1,088	8,380
Director's loan account	2,401	-
Other receivables	1,500	1,000
	4,989	9,380