SJP Interior Design Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 05972311 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

SJP INTERIOR DESIGN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

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

2,273

2,432

CURRENT ASSETS

Stocks

85,500

83,900

Debtors

5

33,115

31,903

Cash at bank and in hand

9,829

21,569

128,444

137,372

CREDITORS

Amounts falling due within one year

6

158,596

137,383

NET CURRENT LIABILITIES

(30,152

)

(11

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(27,879

)

2,421

CREDITORS

Amounts falling due after more than one year

7

31,949

40,833

NET LIABILITIES

(59,828

)

(38,412

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

(59,829

)

(38,413

)

SHAREHOLDERS' FUNDS

(59,828

)

(38,412

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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 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 director and authorised for issue on 14 July 2023 and were signed by:

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 4 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 November 2021

26,885

5,158

32,043

Additions

-

1,944

1,944

At 31 October 2022

26,885

7,102

33,987

DEPRECIATION

At 1 November 2021

25,268

4,343

29,611

Charge for year

684

1,419

2,103

At 31 October 2022

25,952

5,762

31,714

NET BOOK VALUE

At 31 October 2022

933

1,340

2,273

At 31 October 2021

1,617

815

2,432

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Trade debtors

15,786

13,090

Other debtors

17,329

18,813

33,115

31,903

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Bank loans and overdrafts

31,760

30,799

Trade creditors

3,434

1,957

Taxation and social security

2,284

228

Other creditors

121,118

104,399

158,596

137,383

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.22

31.10.21

£

£

Bank loans

31,949

40,833

8.	DEFERRED TAX

£

Balance at 1 November 2021

(5,056

)

Reversal of timing differences

784

Balance at 31 October 2022

(4,272

)

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.22

31.10.21

value:

£

£

1

Ordinary

£1

1

1

10.	RELATED PARTY DISCLOSURES

The company maintains an interest free loan account with the director. At the balance sheet date, the company owed the director £90,786 (2021: £96,730).

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S J Bailey.