IRIS Accounts Production v23.3.0.418 03624099 director 1.8.21 30.7.22 30.7.22 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh036240992021-07-31036240992022-07-30036240992021-08-012022-07-30036240992020-07-31036240992020-08-012021-07-31036240992021-07-3103624099ns10:Originalns15:EnglandWales2021-08-012022-07-3003624099ns14:PoundSterlingns10:Original2021-08-012022-07-3003624099ns10:Originalns10:Director12021-08-012022-07-3003624099ns10:Original2021-08-012022-07-3003624099ns10:Original2022-07-3003624099ns10:Originalns10:PrivateLimitedCompanyLtd2021-08-012022-07-3003624099ns10:Originalns10:SmallEntities2021-08-012022-07-3003624099ns10:Originalns10:AuditExemptWithAccountantsReport2021-08-012022-07-3003624099ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2021-08-012022-07-3003624099ns10:SmallCompaniesRegimeForAccountsns10:Original2021-08-012022-07-3003624099ns10:Originalns10:FullAccounts2021-08-012022-07-3003624099ns10:Original12021-08-012022-07-3003624099ns10:Originalns10:OrdinaryShareClass12021-08-012022-07-3003624099ns10:CompanySecretary1ns10:Original2021-08-012022-07-3003624099ns10:Originalns10:RegisteredOffice2021-08-012022-07-3003624099ns10:Original2021-07-3103624099ns10:Originalns5:CurrentFinancialInstruments2022-07-3003624099ns10:Originalns5:CurrentFinancialInstruments2021-07-3103624099ns10:Originalns5:Non-currentFinancialInstruments2022-07-3003624099ns10:Originalns5:Non-currentFinancialInstruments2021-07-3103624099ns5:ShareCapitalns10:Original2022-07-3003624099ns5:ShareCapitalns10:Original2021-07-3103624099ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-3003624099ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-07-3103624099ns10:Originalns5:NetGoodwill2021-08-012022-07-3003624099ns5:IntangibleAssetsOtherThanGoodwillns10:Original2021-08-012022-07-3003624099ns10:Originalns5:OwnedOrFreeholdAssetsns5:LandBuildings2021-08-012022-07-3003624099ns10:Originalns5:PlantMachinery2021-08-012022-07-3003624099ns10:Originalns5:FurnitureFittings2021-08-012022-07-3003624099ns10:Originalns5:MotorVehicles2021-08-012022-07-3003624099ns10:Original2020-08-012021-07-3103624099ns10:Originalns5:NetGoodwill2021-07-3103624099ns10:Originalns5:NetGoodwill2022-07-3003624099ns10:Originalns5:NetGoodwill2021-07-3103624099ns10:Originalns5:LandBuildings2021-07-3103624099ns10:Originalns5:PlantMachinery2021-07-3103624099ns10:Originalns5:FurnitureFittings2021-07-3103624099ns10:Originalns5:MotorVehicles2021-07-3103624099ns10:Original2021-07-3103624099ns10:Originalns5:LandBuildings2021-08-012022-07-3003624099ns10:Originalns5:LandBuildings2022-07-3003624099ns10:Originalns5:PlantMachinery2022-07-3003624099ns10:Originalns5:FurnitureFittings2022-07-3003624099ns10:Originalns5:MotorVehicles2022-07-3003624099ns10:Originalns5:LandBuildings2021-07-3103624099ns10:Originalns5:PlantMachinery2021-07-3103624099ns10:Originalns5:FurnitureFittings2021-07-3103624099ns10:Originalns5:MotorVehicles2021-07-3103624099ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-3003624099ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2021-07-3103624099ns10:Originalns10:OrdinaryShareClass12022-07-30
REGISTERED NUMBER: 03624099 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2021 TO 30 JULY 2022

FOR

OFFICE FURNITURE REQUIREMENTS LIMITED

OFFICE FURNITURE REQUIREMENTS LIMITED (REGISTERED NUMBER: 03624099)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2021 TO 30 JULY 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

OFFICE FURNITURE REQUIREMENTS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 AUGUST 2021 TO 30 JULY 2022







DIRECTOR: Mr A Probert





SECRETARY: Mrs J L Probert





REGISTERED OFFICE: Unit 1 Newport Road,
Moulsoe
Newport Pagnell
Buckinghamshire
MK16 0HS





REGISTERED NUMBER: 03624099 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

OFFICE FURNITURE REQUIREMENTS LIMITED (REGISTERED NUMBER: 03624099)

BALANCE SHEET
30 JULY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 643,816 623,610
643,816 623,610

CURRENT ASSETS
Stocks 14,000 15,000
Debtors 6 192,137 168,947
Cash at bank 114,537 53,452
320,674 237,399
CREDITORS
Amounts falling due within one year 7 119,638 53,749
NET CURRENT ASSETS 201,036 183,650
TOTAL ASSETS LESS CURRENT
LIABILITIES

844,852

807,260

CREDITORS
Amounts falling due after more than one
year

8

136,213

157,000
NET ASSETS 708,639 650,260

CAPITAL AND RESERVES
Called up share capital 9 1,004 1,004
Retained earnings 707,635 649,256
SHAREHOLDERS' FUNDS 708,639 650,260

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 July 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 July 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

OFFICE FURNITURE REQUIREMENTS LIMITED (REGISTERED NUMBER: 03624099)

BALANCE SHEET - continued
30 JULY 2022


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 27 October 2023 and were signed by:





Mr A Probert - Director


OFFICE FURNITURE REQUIREMENTS LIMITED (REGISTERED NUMBER: 03624099)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2021 TO 30 JULY 2022


1. STATUTORY INFORMATION

Office Furniture Requirements 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.

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 0, is being amortised evenly over its estimated useful life of nil 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.
Freehold property - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

GOVERNMENT GRANTS
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

OFFICE FURNITURE REQUIREMENTS LIMITED (REGISTERED NUMBER: 03624099)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2021 TO 30 JULY 2022


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

TAXATION
Taxation for the period 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.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

OFFICE FURNITURE REQUIREMENTS LIMITED (REGISTERED NUMBER: 03624099)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2021 TO 30 JULY 2022


2. ACCOUNTING POLICIES - continued

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 period was 5 (2021 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2021
and 30 July 2022 94,000
AMORTISATION
At 1 August 2021
and 30 July 2022 94,000
NET BOOK VALUE
At 30 July 2022 -
At 31 July 2021 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2021 732,197 16,383 22,427 56,989 827,996
Additions - - 3,787 39,759 43,546
At 30 July 2022 732,197 16,383 26,214 96,748 871,542
DEPRECIATION
At 1 August 2021 124,328 13,569 21,722 44,767 204,386
Charge for period 9,814 645 968 11,913 23,340
At 30 July 2022 134,142 14,214 22,690 56,680 227,726
NET BOOK VALUE
At 30 July 2022 598,055 2,169 3,524 40,068 643,816
At 31 July 2021 607,869 2,814 705 12,222 623,610

OFFICE FURNITURE REQUIREMENTS LIMITED (REGISTERED NUMBER: 03624099)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2021 TO 30 JULY 2022


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 60,447 39,997
Other debtors 131,690 128,950
192,137 168,947

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 14,673 -
Hire purchase contracts 37,994 -
Trade creditors 16,128 2,646
Taxation and social security 36,231 30,064
Other creditors 14,612 21,039
119,638 53,749

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 136,213 157,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 77,521 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1,004 Ordinary 1 1,004 1,004

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
OFFICE FURNITURE REQUIREMENTS LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Office Furniture Requirements Limited for the period ended 30 July 2022 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Office Furniture Requirements Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Office Furniture Requirements Limited and state those matters that we have agreed to state to the director of Office Furniture Requirements Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Office Furniture Requirements Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Office Furniture Requirements Limited. You consider that Office Furniture Requirements Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Office Furniture Requirements Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN


27 October 2023