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REGISTERED NUMBER: 10508442 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

UPHOLSTERY SERVICES (STAFFORD) LTD

UPHOLSTERY SERVICES (STAFFORD) LTD (REGISTERED NUMBER: 10508442)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


UPHOLSTERY SERVICES (STAFFORD) LTD

COMPANY INFORMATION
for the Year Ended 31 December 2021







DIRECTORS: A Foster
A M Funnell





REGISTERED OFFICE: 9a Browning Street
Stafford
Staffordshire
ST16 3AT





REGISTERED NUMBER: 10508442 (England and Wales)





ACCOUNTANTS: Kelly Molyneux & Co.Limited
Chartered Certified Accountants
Mitre House
Pitt Street West
Burslem
Stoke-on-Trent
ST6 3JW

UPHOLSTERY SERVICES (STAFFORD) LTD (REGISTERED NUMBER: 10508442)

BALANCE SHEET
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 500 600
Tangible assets 5 16,663 3,111
17,163 3,711

CURRENT ASSETS
Stocks 2,000 1,000
Debtors 6 1,463 600
Cash at bank and in hand 6,185 6,084
9,648 7,684
CREDITORS
Amounts falling due within one year 7 9,962 8,273
NET CURRENT LIABILITIES (314 ) (589 )
TOTAL ASSETS LESS CURRENT LIABILITIES 16,849 3,122

CREDITORS
Amounts falling due after more than one year 8 16,667 -
NET ASSETS 182 3,122

CAPITAL AND RESERVES
Called up share capital 9 4 4
Retained earnings 10 178 3,118
SHAREHOLDERS' FUNDS 182 3,122

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

UPHOLSTERY SERVICES (STAFFORD) LTD (REGISTERED NUMBER: 10508442)

BALANCE SHEET - continued
31 December 2021


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 Board of Directors and authorised for issue on 14 April 2022 and were signed on its behalf by:




A Foster - Director



A M Funnell - Director


UPHOLSTERY SERVICES (STAFFORD) LTD (REGISTERED NUMBER: 10508442)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Upholstery Services (Stafford) Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

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.

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 - 25% on reducing balance
Motor vehicles - 25% 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.

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.

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.

UPHOLSTERY SERVICES (STAFFORD) LTD (REGISTERED NUMBER: 10508442)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 1,000
AMORTISATION
At 1 January 2021 400
Amortisation for year 100
At 31 December 2021 500
NET BOOK VALUE
At 31 December 2021 500
At 31 December 2020 600

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2021 6,525 - 6,525
Additions 145 18,766 18,911
Disposals (4,142 ) - (4,142 )
At 31 December 2021 2,528 18,766 21,294
DEPRECIATION
At 1 January 2021 3,414 - 3,414
Charge for year 456 3,496 3,952
Eliminated on disposal (2,735 ) - (2,735 )
At 31 December 2021 1,135 3,496 4,631
NET BOOK VALUE
At 31 December 2021 1,393 15,270 16,663
At 31 December 2020 3,111 - 3,111

UPHOLSTERY SERVICES (STAFFORD) LTD (REGISTERED NUMBER: 10508442)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 10 600
Other debtors 1,300 -
Tax 153 -
1,463 600

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 3,333 -
Trade creditors 290 (2 )
Tax - 5,151
Social security and other taxes 994 466
VAT 4,556 -
Directors' loan accounts 49 1,908
Accrued expenses 740 750
9,962 8,273

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans - 1-2 years 4,000 -
Bank loans - 2-5 years 12,000 -
Bank loans more 5 yr by instal 667 -
16,667 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 667 -

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
4 Ordinary 1 4 4

UPHOLSTERY SERVICES (STAFFORD) LTD (REGISTERED NUMBER: 10508442)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

10. RESERVES
Retained
earnings
£   

At 1 January 2021 3,118
Profit for the year 19,060
Dividends (22,000 )
At 31 December 2021 178