Registered number
07937079
Extreme Furniture Limited
Unaudited Filleted Accounts
31 December 2021
Extreme Furniture Limited
Registered number: 07937079
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Current assets
Debtors 3 40,998 (3,113)
Cash at bank and in hand 38,814 225,343
79,812 222,230
Creditors: amounts falling due within one year 4 (22,998) (161,910)
Net current assets 56,814 60,320
Net assets 56,814 60,320
Capital and reserves
Called up share capital 100 100
Profit and loss account 56,714 60,220
Shareholder's funds 56,814 60,320
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dariusz Fulara
Director
Approved by the board on 5 September 2022
Extreme Furniture Limited
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Where material, deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 0 2
3 Debtors 2021 2020
£ £
Other debtors 40,998 (3,113)
4 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 20,639 28,949
Taxation and social security costs 2,464 134,655
Other creditors (105) (1,694)
22,998 161,910
5 Other information
Extreme Furniture Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Barn
173 Church Road
Birmingham
B31 2LX
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