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FURNITURE WORLD (BIRKENHEAD) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023






FURNITURE WORLD (BIRKENHEAD) LIMITED (REGISTERED NUMBER: 03698589)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FURNITURE WORLD (BIRKENHEAD) LIMITED

COMPANY INFORMATION
for the Year Ended 31st January 2023







DIRECTOR: Mrs D Cawley





REGISTERED OFFICE: Liverpool Road Studios
113 Liverpool Road
Suites 3 and 4
Crosby
Merseyside
L23 5TD





REGISTERED NUMBER: 03698589 (England and Wales)





ACCOUNTANTS: Garner & Associates Ltd
Liverpool Road Studios
Suites 3 & 4
113 Liverpool Road
Crosby
Merseyside
L23 5TD

FURNITURE WORLD (BIRKENHEAD) LIMITED (REGISTERED NUMBER: 03698589)

BALANCE SHEET
31st January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,040 55,229

CURRENT ASSETS
Stocks 197,624 148,547
Debtors 5 85,661 63,809
Cash at bank and in hand 21,845 22,667
305,130 235,023
CREDITORS
Amounts falling due within one year 6 86,191 64,461
NET CURRENT ASSETS 218,939 170,562
TOTAL ASSETS LESS CURRENT
LIABILITIES

219,979

225,791

CREDITORS
Amounts falling due after more than one
year

7

-

221,347
NET ASSETS 219,979 4,444

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 218,979 3,444
SHAREHOLDERS' FUNDS 219,979 4,444

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2023 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.

FURNITURE WORLD (BIRKENHEAD) LIMITED (REGISTERED NUMBER: 03698589)

BALANCE SHEET - continued
31st January 2023


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 3rd October 2023 and were signed by:





Mrs D Cawley - Director


FURNITURE WORLD (BIRKENHEAD) LIMITED (REGISTERED NUMBER: 03698589)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st January 2023

1. STATUTORY INFORMATION

Furniture World (Birkenhead) 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.

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.
Freehold property - 2% on cost
Fixtures and fittings - 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 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

FURNITURE WORLD (BIRKENHEAD) LIMITED (REGISTERED NUMBER: 03698589)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st January 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1st February 2022 96,150 18,616 8,195 122,961
Additions 5,390 - - 5,390
Disposals (101,540 ) - - (101,540 )
At 31st January 2023 - 18,616 8,195 26,811
DEPRECIATION
At 1st February 2022 42,306 18,536 6,890 67,732
Charge for year - 20 325 345
Eliminated on disposal (42,306 ) - - (42,306 )
At 31st January 2023 - 18,556 7,215 25,771
NET BOOK VALUE
At 31st January 2023 - 60 980 1,040
At 31st January 2022 53,844 80 1,305 55,229

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 85,661 63,809

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 33,333 36,068
Taxation and social security 52,858 28,393
86,191 64,461

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 221,347

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 73,704

FURNITURE WORLD (BIRKENHEAD) LIMITED (REGISTERED NUMBER: 03698589)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st January 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 33,333 257,415