SJP Interior Design Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05972311 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

SJP INTERIOR DESIGN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs S J Bailey

SECRETARY:

D G Pasley

REGISTERED OFFICE:

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

REGISTERED NUMBER:

05972311 (England and Wales)

ACCOUNTANTS:

Lawes & Co

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Tangible assets

4

3,387

5,268

CURRENT ASSETS

Stocks

60,000

28,000

Debtors

5

12,086

16,065

Cash at bank and in hand

186

622

72,272

44,687

CREDITORS

Amounts falling due within one year

6

75,517

48,609

NET CURRENT LIABILITIES

(3,245

)

(3,922

)

TOTAL ASSETS LESS CURRENT LIABILITIES

142

1,346

PROVISIONS FOR LIABILITIES

644

-

NET (LIABILITIES)/ASSETS

(502

)

1,346

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

8

(503

)

1,345

SHAREHOLDERS' FUNDS

(502

)

1,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 30 July 2019 and were signed by:

Mrs S J Bailey - Director

1.	STATUTORY INFORMATION

SJP Interior Design 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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.

Going concern

The accounts have been prepared on a going concern basis as it is the intention of the

director to continue to support the company for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 November 2017

24,075

2,567

26,642

Additions

74

711

785

At 31 October 2018

24,149

3,278

27,427

DEPRECIATION

At 1 November 2017

19,776

1,598

21,374

Charge for year

2,100

566

2,666

At 31 October 2018

21,876

2,164

24,040

NET BOOK VALUE

At 31 October 2018

2,273

1,114

3,387

At 31 October 2017

4,299

969

5,268

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Trade debtors

(581

)

-

Other debtors

12,667

16,065

12,086

16,065

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Bank loans and overdrafts

3,073

-

Trade creditors

189

16,987

Taxation and social security

9,079

5,751

Other creditors

63,176

25,871

75,517

48,609

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.18

31.10.17

value:

£

£

1

Ordinary

£1

1

1

8.

RESERVES

Retained

earnings

£

At 1 November 2017

1,345

Deficit for the year

(1,848

)

At 31 October 2018

(503

)

9.	RELATED PARTY DISCLOSURES

During the year the company paid the director, Mrs S J Bailey, a dividend of £NIL (£15,000

in 2017).

The company maintains an interest free loan account with the director, Mrs S J Bailey. At the

yer end, the company owed the director £60,176 (£23,536 in 2017).

During the year the director, Mrs S J Bailey, received a salary of £8,300 (£8,090 in 2017).