Innovations Interiors Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 02492659 (England and Wales)

INNOVATIONS INTERIORS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTORS:

Mr S Hartman

Mrs D Hartman

SECRETARY:

Mr S Hartman

REGISTERED OFFICE:

First Floor

94 Stamford Hill

London

N16 6XS

REGISTERED NUMBER:

02492659 (England and Wales)

ACCOUNTANTS:

Sugarwhite Meyer Accountants Ltd

First Floor

94 Stamford Hill

London

N16 6XS

CURRENT ASSETS

Stocks

5

68,327

48,800

Debtors

6

22,263

15,135

Cash at bank

5,492

1,473

96,082

65,408

CREDITORS

Amounts falling due within one year

7

63,554

27,485

NET CURRENT ASSETS

32,528

37,923

TOTAL ASSETS LESS CURRENT LIABILITIES

32,528

37,923

CREDITORS

Amounts falling due after more than one year

8

27,131

35,000

NET ASSETS

5,397

2,923

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

5,395

2,921

SHAREHOLDERS' FUNDS

5,397

2,923

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 May 2023 and were signed on its behalf by:

Mr S Hartman - Director

1.	STATUTORY INFORMATION

Innovations Interiors 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

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 tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

5.

STOCKS

2022

2021

£

£

Stocks & WIP

68,327

48,800

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

22,263

15,135

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

3,830

-

Trade creditors

19,379

10,743

Taxation and social security

4,136

4,188

Other creditors

36,209

12,554

63,554

27,485

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

27,131

35,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years by instalments

11,811

35,000