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REGISTERED NUMBER: 03596203 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

THE FIREPLACE CENTRE (WEST BRIDGEFORD)
LIMITED

THE FIREPLACE CENTRE (WEST BRIDGEFORD)
LIMITED (REGISTERED NUMBER: 03596203)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE FIREPLACE CENTRE (WEST BRIDGEFORD)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: P C Baker
Miss L C Baker
A P Baker





REGISTERED OFFICE: 29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA





BUSINESS ADDRESS: 41 Radcliffe Road
West Bridgford
Nottingham
Nottinghamshire
NG2 5FF





REGISTERED NUMBER: 03596203 (England and Wales)





ACCOUNTANTS: Lemans
29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA

THE FIREPLACE CENTRE (WEST BRIDGEFORD)
LIMITED (REGISTERED NUMBER: 03596203)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 91,390 50,159
91,390 50,159

CURRENT ASSETS
Stocks 74,570 52,191
Debtors 6 52,433 19,873
Cash at bank and in hand 216,576 259,506
343,579 331,570
CREDITORS
Amounts falling due within one year 7 115,439 134,970
NET CURRENT ASSETS 228,140 196,600
TOTAL ASSETS LESS CURRENT
LIABILITIES

319,530

246,759

CREDITORS
Amounts falling due after more than one
year

8

(9,270

)

(2,221

)

PROVISIONS FOR LIABILITIES (9,441 ) (9,016 )
NET ASSETS 300,819 235,522

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 300,719 235,422
SHAREHOLDERS' FUNDS 300,819 235,522

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

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

THE FIREPLACE CENTRE (WEST BRIDGEFORD)
LIMITED (REGISTERED NUMBER: 03596203)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:





Miss L C Baker - Director


THE FIREPLACE CENTRE (WEST BRIDGEFORD)
LIMITED (REGISTERED NUMBER: 03596203)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

The Fireplace Centre (West Bridgeford) 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1998, has been 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.


THE FIREPLACE CENTRE (WEST BRIDGEFORD)
LIMITED (REGISTERED NUMBER: 03596203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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
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.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price.

Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 15,000
AMORTISATION
At 1 April 2022
and 31 March 2023 15,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

THE FIREPLACE CENTRE (WEST BRIDGEFORD)
LIMITED (REGISTERED NUMBER: 03596203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 13,260 34,255 122,540 11,382 181,437
Additions - - 71,380 - 71,380
Disposals - - (2,200 ) - (2,200 )
At 31 March 2023 13,260 34,255 191,720 11,382 250,617
DEPRECIATION
At 1 April 2022 13,191 27,281 79,712 11,094 131,278
Charge for year 14 1,395 28,537 144 30,090
Eliminated on disposal - - (2,141 ) - (2,141 )
At 31 March 2023 13,205 28,676 106,108 11,238 159,227
NET BOOK VALUE
At 31 March 2023 55 5,579 85,612 144 91,390
At 31 March 2022 69 6,974 42,828 288 50,159

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 46,470
Additions 22,915
At 31 March 2023 69,385
DEPRECIATION
At 1 April 2022 31,767
Charge for year 9,404
At 31 March 2023 41,171
NET BOOK VALUE
At 31 March 2023 28,214
At 31 March 2022 14,703

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Directors' current accounts 39,294 9,006
Other debtors 2,252 2,252
Prepayments 10,887 8,615
52,433 19,873

THE FIREPLACE CENTRE (WEST BRIDGEFORD)
LIMITED (REGISTERED NUMBER: 03596203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts (see note 9) 6,671 6,666
Trade creditors 71,994 83,149
Corporation tax 26,629 19,004
Social security and other taxes 6,158 18,132
Other creditors 432 5,189
Accrued expenses 3,555 2,830
115,439 134,970

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts (see note 9) 9,270 2,221

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.23 31.3.22
£    £   
Net obligations repayable:
Within one year 6,671 6,666
Between one and five years 9,270 2,221
15,941 8,887

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
P C Baker
Balance outstanding at start of year 9,006 9,006
Amounts advanced 30,288 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 39,294 9,006

THE FIREPLACE CENTRE (WEST BRIDGEFORD)
LIMITED (REGISTERED NUMBER: 03596203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Interest is being charged on the loan at a rate of 2.0% per annum. The amount charged on this loan during the year and credited to the profit and loss account was £289 (2022 - £nil).