House of Rooms Limited - Period Ending 2023-03-31
House of Rooms Limited - Period Ending 2023-03-31
Registration number:
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House of Rooms Limited
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House of Rooms Limited
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
House of Rooms Limited
Company Information
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Director |
D J Law |
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Registered office |
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Accountants |
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House of Rooms Limited
Statement of Financial Position as at 31 March 2023
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Note |
2023 |
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Fixed assets |
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Intangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
100 |
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Retained earnings |
(139,625) |
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Shareholders' deficit |
(139,525) |
For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
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D J Law
Director
Company registration number: 14245355
House of Rooms Limited
Notes to the Unaudited Financial Statements for the Period from 20 July 2022 to 31 March 2023
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of the design and manufacture of luxury fashion apparel.
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Accounting policies |
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 any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies and key accounting estimates
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.
Going concern
The company had a deficit of assets at 31 March 2023 amounting to £139,525.
The director has given a commitment to financially support the company until outside investment can be obtained and will not call for repayment of the amount of £174,776 due to him at 31 March 2023 until such time that the company has sufficient working capital. The company has few fixed costs and it is the director's view that it will not be materially impacted by current economic conditions.
On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue at the point of retail sale or dispatch of online orders.
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.
House of Rooms Limited
Notes to the Unaudited Financial Statements for the Period from 20 July 2022 to 31 March 2023
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over its useful life and commences when the the asset is available for use.
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.
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.
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Staff numbers |
The average number of persons employed by the company during the period, was
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Intangible assets |
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Website development |
Product development |
Total |
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Cost or valuation |
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Additions acquired separately |
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At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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Debtors |
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2023 |
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Other debtors |
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House of Rooms Limited
Notes to the Unaudited Financial Statements for the Period from 20 July 2022 to 31 March 2023
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Creditors |
Creditors: amounts falling due within one year
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2023 |
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Trade creditors |
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Other creditors |
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