Registered number
12461114
FURNITURE DISCOUNT WAREHOUSE LTD
Filleted Accounts
28 February 2023
FURNITURE DISCOUNT WAREHOUSE LTD
Registered number: 12461114
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,395 7,997
Current assets
Stocks 9,495 19,495
Cash at bank and in hand 7,051 6,624
16,546 26,119
Creditors: amounts falling due within one year 4 (9,752) (16,045)
Net current assets 6,794 10,074
Net assets 13,189 18,071
Capital and reserves
Called up share capital 100 100
Profit and loss account 13,089 17,971
Shareholders' funds 13,189 18,071
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
R Dunning
Director
Approved by the board on 22 September 2023
FURNITURE DISCOUNT WAREHOUSE LTD
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 5,000 7,495 12,495
At 28 February 2023 5,000 7,495 12,495
Depreciation
At 1 March 2022 1,800 2,698 4,498
Charge for the year 640 962 1,602
At 28 February 2023 2,440 3,660 6,100
Net book value
At 28 February 2023 2,560 3,835 6,395
At 28 February 2022 3,200 4,797 7,997
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 7,710 3,278
Directors account 792 11,319
Accruals 1,250 1,448
9,752 16,045
5 Other information
FURNITURE DISCOUNT WAREHOUSE LTD is a private company limited by shares and incorporated in England. Its registered office is:
13 Old Street
Ashton-Under-Lyne
Lancashire
OL6 6LA
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