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REGISTERED NUMBER: 00359830 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BRITTAINS (FURNISHERS) LIMITED

BRITTAINS (FURNISHERS) LIMITED (REGISTERED NUMBER: 00359830)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BRITTAINS (FURNISHERS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr JA Brittain
Mr NJ Brittain
Mr AT Brittain





SECRETARY: Mr NJ Brittain





REGISTERED OFFICE: 58-62 High Street
St. Neots
Cambridgeshire
PE19 1JQ





REGISTERED NUMBER: 00359830 (England and Wales)





ACCOUNTANTS: Davey Grover Limited
Chartered Accountants
Fenice Court
Phoenix Business Park
Eaton Socon
St. Neots
Cambridgeshire
PE19 8EP

BRITTAINS (FURNISHERS) LIMITED (REGISTERED NUMBER: 00359830)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 938,575 953,794

CURRENT ASSETS
Stocks 160,577 182,746
Debtors 5 101,154 174,977
Cash at bank and in hand 205,409 227,427
467,140 585,150
CREDITORS
Amounts falling due within one year 6 251,126 387,579
NET CURRENT ASSETS 216,014 197,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,154,589

1,151,365

PROVISIONS FOR LIABILITIES 51,559 53,327
NET ASSETS 1,103,030 1,098,038

CAPITAL AND RESERVES
Called up share capital 2,150 2,150
Capital redemption reserve 3,850 3,850
Retained earnings 1,097,030 1,092,038
SHAREHOLDERS' FUNDS 1,103,030 1,098,038

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.

BRITTAINS (FURNISHERS) LIMITED (REGISTERED NUMBER: 00359830)

STATEMENT OF FINANCIAL POSITION - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:




Mr AT Brittain - Director



Mr NJ Brittain - Director


BRITTAINS (FURNISHERS) LIMITED (REGISTERED NUMBER: 00359830)

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

1. STATUTORY INFORMATION

Brittains (Furnishers) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, subject to the revaluation of investment properties to market value at the reporting date.

The principal accounting policies adopted in these financial statements have remained unchanged from the previous year.

Significant judgements and estimates
The preparation of the financial statements require management to make judgements, estimates and assumptions that affect the amounts reported for revenues and expenses during the year. However, the nature of estimates means that the actual outcomes could differ from those estimates. There are no judgements (apart from those involving estimates for depreciation, doubtful debt provisions, and stock provisions) that have had a significant effect on amounts recognised in the financial statements.

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

Revenue is recognised to the extent that it is probable that the economic benefit will flow to the Company and the revenue can be reliably measured. The following criteria must also be met before revenue is recognised:

Supply of goods
Revenue is recognised when goods are delivered and supplied.

Alterations of goods and fitting
Revenue is recognised at the completion of the repair or fitting.

BRITTAINS (FURNISHERS) LIMITED (REGISTERED NUMBER: 00359830)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Repairs and maintenance of assets are charged to the Statement of income during the period in which they are incurred.

Depreciation is charged so as to allocate the cost or valuation of assets less their residual value, over their estimated useful lives on the following basis:

Building - 2% on cost
Plant and machinery - 15% on reducing balance.
Fixtures and fittings - at variable rates on reducing balance.
Motor vehicles - 25% on reducing balance.

No depreciation is charged on investment properties, as these are revalued by the directors annually at the reporting date.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income.

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


BRITTAINS (FURNISHERS) LIMITED (REGISTERED NUMBER: 00359830)

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

2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises of current and deferred tax and is recognised in the income statement.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

The current tax creditor is recognised in creditors within the statement of financial position.

Deferred balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowance have been met.

Deferred tax balances are not recognised in respect of permanent differences.

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.

Deferred tax is presented within provisions for liabilities on the statement of financial position at the reporting date. 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.

Leasing commitments
Leases are charged to the statement of income over the term of the lease on a straight line basis.

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 the statement on income in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less impairment.

Creditors
Short term creditors are measured at transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

BRITTAINS (FURNISHERS) LIMITED (REGISTERED NUMBER: 00359830)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 1,016,625 211,084 1,227,709
Disposals - (7,500 ) (7,500 )
At 31 March 2023 1,016,625 203,584 1,220,209
DEPRECIATION
At 1 April 2022 90,724 183,191 273,915
Charge for year 5,409 5,851 11,260
Eliminated on disposal - (3,541 ) (3,541 )
At 31 March 2023 96,133 185,501 281,634
NET BOOK VALUE
At 31 March 2023 920,492 18,083 938,575
At 31 March 2022 925,901 27,893 953,794

Included in cost or valuation of land and buildings is freehold land of £ 112,975 (2022 - £ 112,975 ) which is not depreciated.

Land and buildings includes both the company's trading premises and investment properties.

Cost or valuation at 31 March 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2019 72,763 - 72,763
Valuation in 2020 261,139 - 261,139
Cost 682,723 203,584 886,307
1,016,625 203,584 1,220,209

BRITTAINS (FURNISHERS) LIMITED (REGISTERED NUMBER: 00359830)

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

4. TANGIBLE FIXED ASSETS - continued

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 291,098 291,098

Value of land in freehold land and buildings 103,500 103,500

Investment properties were valued on an open market basis on 31 March 2023 by the directors .


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 77,926 157,978
Other debtors 23,228 16,999
101,154 174,977

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 80,141 114,628
Taxation and social security 39,233 64,396
Other creditors 131,752 208,555
251,126 387,579

7. 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:

2023 2022
£    £   
Mr JA Brittain
Balance outstanding at start of year - -
Amounts advanced 5,466 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,466 -

Mr J A Britain was provided with an interest free directors loan during the year, that was repaid in full in April 2023.

BRITTAINS (FURNISHERS) LIMITED (REGISTERED NUMBER: 00359830)

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

8. POST BALANCE SHEET EVENTS

The company ceased its retail business in October 2023.