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REGISTERED NUMBER: 05987650 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

WHARFEDALE FURNITURE LIMITED

WHARFEDALE FURNITURE LIMITED (REGISTERED NUMBER: 05987650)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WHARFEDALE FURNITURE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mr I M Burrell
Mrs S P Burrell





SECRETARY: Mrs S P Burrell





REGISTERED OFFICE: St Paul's House
23 Park Square
Leeds
West Yorkshire
LS1 2ND





REGISTERED NUMBER: 05987650 (England and Wales)





ACCOUNTANTS: Sedulo Leeds Limited
St Paul's House
23 Park Square
Leeds
West Yorkshire
LS1 2ND

WHARFEDALE FURNITURE LIMITED (REGISTERED NUMBER: 05987650)

BALANCE SHEET
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 460 639
460 639

CURRENT ASSETS
Stocks 15,342 18,238
Debtors 6 9,845 9,025
Cash at bank 3,234 17,259
28,421 44,522
CREDITORS
Amounts falling due within one year 7 66,286 44,825
NET CURRENT LIABILITIES (37,865 ) (303 )
TOTAL ASSETS LESS CURRENT LIABILITIES (37,405 ) 336

CREDITORS
Amounts falling due after more than one
year

8

-

(230

)

PROVISIONS FOR LIABILITIES (115 ) -
NET (LIABILITIES)/ASSETS (37,520 ) 106

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (37,620 ) 6
SHAREHOLDERS' FUNDS (37,520 ) 106

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

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

WHARFEDALE FURNITURE LIMITED (REGISTERED NUMBER: 05987650)

BALANCE SHEET - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2023 and were signed on its behalf by:





Mr I M Burrell - Director


WHARFEDALE FURNITURE LIMITED (REGISTERED NUMBER: 05987650)

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


1. STATUTORY INFORMATION

Wharfedale Furniture 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 principal activity of the company in the year under review was that of furniture retail.

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.

The financial statements are prepared in Sterling (GBP), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

At the time of signing these accounts the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% 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.


WHARFEDALE FURNITURE LIMITED (REGISTERED NUMBER: 05987650)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 25,000
AMORTISATION
At 1 February 2022
and 31 January 2023 25,000
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

WHARFEDALE FURNITURE LIMITED (REGISTERED NUMBER: 05987650)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022
and 31 January 2023 21,803
DEPRECIATION
At 1 February 2022 21,164
Charge for year 179
At 31 January 2023 21,343
NET BOOK VALUE
At 31 January 2023 460
At 31 January 2022 639

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 2,225 1,318
Other debtors 7,620 7,707
9,845 9,025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 221 2,495
Trade creditors 25,332 21,826
Taxation and social security 14,934 13,432
Other creditors 25,799 7,072
66,286 44,825

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans - 230

9. LEASING AGREEMENTS
The company has annual property lease commitments of £10,125, due to expire October 2023.

WHARFEDALE FURNITURE LIMITED (REGISTERED NUMBER: 05987650)

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


10. RELATED PARTY DISCLOSURES

Included within other creditors is an amount of £15,044 which is due from the company to the directors (2022: £86 owed from the directors). This loan is interest free with no fixed terms of repayment.

The directors of the company have given a personal guarantee in respect of the operating lease on the premises from which the company trades.