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REGISTERED NUMBER: 07421145 (England and Wales)















Unaudited Financial Statements

for the Period 1 December 2020 to 31 March 2022

for

Flintshire Furniture Limited

Flintshire Furniture Limited (Registered number: 07421145)






Contents of the Financial Statements
for the Period 1 December 2020 to 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Flintshire Furniture Limited

Company Information
for the Period 1 December 2020 to 31 March 2022







DIRECTOR: R R F Owens





REGISTERED OFFICE: 40 Brookhouse Road
Denbigh
LL16 4RQ





REGISTERED NUMBER: 07421145 (England and Wales)





ACCOUNTANTS: G Ceidiog Hughes Limited
40 Brookhouse Road
Denbigh
Clwyd
LL16 4RQ

Flintshire Furniture Limited (Registered number: 07421145)

Balance Sheet
31 March 2022

31.3.22 30.11.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,938 45,872

CURRENT ASSETS
Stocks 5 563,673 512,696
Debtors 6 181,260 100,027
Cash at bank and in hand 178,629 101,436
923,562 714,159
CREDITORS
Amounts falling due within one year 7 647,939 539,140
NET CURRENT ASSETS 275,623 175,019
TOTAL ASSETS LESS CURRENT
LIABILITIES

306,561

220,891

CREDITORS
Amounts falling due after more than
one year

8

(27,861

)

(62,143

)

PROVISIONS FOR LIABILITIES 10 (5,878 ) (8,716 )
NET ASSETS 272,822 150,032

Flintshire Furniture Limited (Registered number: 07421145)

Balance Sheet - continued
31 March 2022

31.3.22 30.11.20
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 272,722 149,932
SHAREHOLDERS' FUNDS 272,822 150,032

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 August 2022 and were signed by:





R R F Owens - Director


Flintshire Furniture Limited (Registered number: 07421145)

Notes to the Financial Statements
for the Period 1 December 2020 to 31 March 2022

1. STATUTORY INFORMATION

Flintshire Furniture 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.

The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Estimated useful lives and residual values of fixed assets
Depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during current and prior accounting periods.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Flintshire Furniture Limited (Registered number: 07421145)

Notes to the Financial Statements - continued
for the Period 1 December 2020 to 31 March 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors and trade creditors.

Trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Flintshire Furniture Limited (Registered number: 07421145)

Notes to the Financial Statements - continued
for the Period 1 December 2020 to 31 March 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2020 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2020 2,073 2,004 43,119 1,631 48,827
Additions 5,245 1,247 28,840 1,822 37,154
Disposals - - (43,835 ) - (43,835 )
At 31 March 2022 7,318 3,251 28,124 3,453 42,146
DEPRECIATION
At 1 December 2020 191 1,246 - 1,518 2,955
Charge for period 502 201 11,499 50 12,252
Eliminated on disposal - - (3,999 ) - (3,999 )
At 31 March 2022 693 1,447 7,500 1,568 11,208
NET BOOK VALUE
At 31 March 2022 6,625 1,804 20,624 1,885 30,938
At 30 November 2020 1,882 758 43,119 113 45,872

5. STOCKS
31.3.22 30.11.20
£    £   
Stocks 563,673 512,696

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 30.11.20
£    £   
Trade debtors 174,170 83,712
Other debtors 7,090 -
VAT - 16,315
181,260 100,027

Flintshire Furniture Limited (Registered number: 07421145)

Notes to the Financial Statements - continued
for the Period 1 December 2020 to 31 March 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 30.11.20
£    £   
Bank loans and overdrafts (see note 9)
25,714

25,714
Trade creditors 538,013 453,857
Tax 31,640 28,057
Social security and other taxes 1,521 261
VAT 36,369 -
Other creditors 5,349 1,848
Directors' current accounts - 26,570
Accrued expenses 9,333 2,833
647,939 539,140

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.22 30.11.20
£    £   
Bank loans (see note 9) 27,861 62,143

9. LOANS

An analysis of the maturity of loans is given below:

31.3.22 30.11.20
£    £   
Amounts falling due within one year or on demand:
Bank loans 25,714 25,714

Amounts falling due between one and two years:
Bank loans - 1-2 years 25,714 25,714

Amounts falling due between two and five years:
Bank loans - 2-5 years 2,147 36,429

10. PROVISIONS FOR LIABILITIES
31.3.22 30.11.20
£    £   
Deferred tax 5,878 8,716

Flintshire Furniture Limited (Registered number: 07421145)

Notes to the Financial Statements - continued
for the Period 1 December 2020 to 31 March 2022

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2020 8,716
Movement in the year due to:
Changes in tax rates
Changes in tax allowances (2,838 )
Balance at 31 March 2022 5,878

11. CAPITAL COMMITMENTS
31.3.22 30.11.20
£    £   
Contracted but not provided for in the
financial statements - -

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R R F Owens.