Ideal Interiors (North West) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05035425 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28th February 2025

for

Ideal Interiors (North West) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P Murray

Mrs J Murray

SECRETARY:

REGISTERED OFFICE:

57 Bankhead Lane

Hoghton

Preston

Lancashire

PR5 0AB

REGISTERED NUMBER:

05035425 (England and Wales)

ACCOUNTANTS:

Stephen Andrews & Co Limited

186 Eaves Lane

Chorley

Lancashire

PR6 0AU

FIXED ASSETS

Intangible assets

4

5,000

Tangible assets

5

23,918

14,077

28,918

19,077

CURRENT ASSETS

Debtors

6

357

-

Cash at bank

78,411

89,909

78,768

89,909

CREDITORS

Amounts falling due within one year

7

25,777

31,136

NET CURRENT ASSETS

52,991

58,773

TOTAL ASSETS LESS CURRENT
LIABILITIES

81,909

77,850

CREDITORS

Amounts falling due after more than one
year

8

21,292

14,547

NET ASSETS

60,617

63,303

CAPITAL AND RESERVES

Called up share capital

9

2

Retained earnings

60,615

63,301

SHAREHOLDERS' FUNDS

60,617

63,303

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th September 2025 and were signed on its behalf by:

Mr P Murray - Director

1.	STATUTORY INFORMATION

Ideal Interiors (North West) 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st March 2024

and 28th February 2025

5,000

NET BOOK VALUE

At 28th February 2025

5,000

At 29th February 2024

5,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST

At 1st March 2024

393

25,000

4,043

29,436

Additions

-

31,985

-

31,985

Disposals

-

(25,000

)

-

(25,000

)

At 28th February 2025

393

31,985

4,043

36,421

DEPRECIATION

At 1st March 2024

378

10,938

4,043

15,359

Charge for year

2

8,080

-

8,082

Eliminated on disposal

-

(10,938

)

-

(10,938

)

At 28th February 2025

380

8,080

4,043

12,503

NET BOOK VALUE

At 28th February 2025

13

23,905

-

23,918

At 29th February 2024

15

14,062

-

14,077

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

31,985

At 28th February 2025

31,985

NET BOOK VALUE

At 28th February 2025

31,985

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Other debtors

357

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Bank loans and overdrafts

2,778

Hire purchase contracts

4,969

-

Trade creditors

4,671

5,511

Taxation and social security

11,881

21,816

Other creditors

1,478

1,031

25,777

31,136

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

28.2.25

29.2.24

£

Bank loans

11,769

14,547

Hire purchase contracts

9,523

-

21,292

14,547

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.25

29.2.24

value:

£

2

Ordinary

£1

2