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REGISTERED NUMBER: 05455720 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Fusion Furniture Solutions Ltd

Fusion Furniture Solutions Ltd (Registered number: 05455720)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fusion Furniture Solutions Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: PP Amarnani
A Amarnani





REGISTERED OFFICE: Ground Floor
Rear Barn
The Brookdale Centre
Knutsford
Cheshire
WA16 0SR





REGISTERED NUMBER: 05455720 (England and Wales)





ACCOUNTANTS: EBA Chartered Accountants
Ground Floor
Rear Barn
The Brookdale Centre
Knutsford
Cheshire
WA16 0SR

Fusion Furniture Solutions Ltd (Registered number: 05455720)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 209,097 202,144

CURRENT ASSETS
Stocks 148,189 184,772
Debtors 5 1,017,260 786,097
Cash at bank 23,923 8,990
1,189,372 979,859
CREDITORS
Amounts falling due within one year 6 1,113,918 412,354
NET CURRENT ASSETS 75,454 567,505
TOTAL ASSETS LESS CURRENT
LIABILITIES

284,551

769,649

CREDITORS
Amounts falling due after more than one
year

7

(134,183

)

(250,923

)

PROVISIONS FOR LIABILITIES - (27,689 )
NET ASSETS 150,368 491,037

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 150,268 490,937
150,368 491,037

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

Fusion Furniture Solutions Ltd (Registered number: 05455720)

Balance Sheet - continued
28 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:





PP Amarnani - Director


Fusion Furniture Solutions Ltd (Registered number: 05455720)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Fusion Furniture Solutions 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 20% on cost
Plant and machinery etc - 25% on cost and 20% 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.

Fusion Furniture Solutions Ltd (Registered number: 05455720)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 March 2022 23,580 296,212 319,792
Additions 45,000 32,314 77,314
Disposals (23,580 ) (27,370 ) (50,950 )
At 28 February 2023 45,000 301,156 346,156
DEPRECIATION
At 1 March 2022 14,559 103,089 117,648
Charge for year 3,112 43,689 46,801
Eliminated on disposal (17,671 ) (9,719 ) (27,390 )
At 28 February 2023 - 137,059 137,059
NET BOOK VALUE
At 28 February 2023 45,000 164,097 209,097
At 28 February 2022 9,021 193,123 202,144

Fusion Furniture Solutions Ltd (Registered number: 05455720)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£
COST
At 1 March 2022 250,891
Additions 30,350
Disposals (16,350 )
At 28 February 2023 264,891
DEPRECIATION
At 1 March 2022 76,065
Charge for year 37,604
At 28 February 2023 113,669
NET BOOK VALUE
At 28 February 2023 151,222
At 28 February 2022 174,826

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£ £
Trade debtors 198,254 118,147
Amounts owed by group undertakings 745,623 602,659
Other debtors 73,383 65,291
1,017,260 786,097

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£ £
Bank loans and overdrafts 65,744 60,111
Hire purchase contracts 59,974 53,774
Trade creditors 126,255 105,125
Amounts owed to group undertakings 723,622 154,972
Taxation and social security 41,654 28,570
Other creditors 96,669 9,802
1,113,918 412,354

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£ £
Bank loans 83,548 146,734
Hire purchase contracts 50,635 104,189
134,183 250,923

Fusion Furniture Solutions Ltd (Registered number: 05455720)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. ULTIMATE CONTROLLING PARTY

The company is controlled by Aido Group Limited.