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REGISTERED NUMBER: SC476440 (Scotland)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

EK Furniture Outlet Limited

EK Furniture Outlet Limited (Registered number: SC476440)






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


EK Furniture Outlet Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: J Tennyson
Mrs E Tennyson





REGISTERED OFFICE: 6 Lithgow Place
East Kilbride
G74 1PW





REGISTERED NUMBER: SC476440 (Scotland)





ACCOUNTANTS: Andersons
53 Wellhall Road
Hamilton
Lanarkshire
ML3 9BY

EK Furniture Outlet Limited (Registered number: SC476440)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,586 29,820

CURRENT ASSETS
Stocks 177,507 143,245
Debtors 5 129,195 19,351
Cash at bank and in hand 326,644 338,021
633,346 500,617
CREDITORS
Amounts falling due within one year 6 305,450 231,797
NET CURRENT ASSETS 327,896 268,820
TOTAL ASSETS LESS CURRENT
LIABILITIES

349,482

298,640

CREDITORS
Amounts falling due after more than one year 7 22,500 32,500
NET ASSETS 326,982 266,140

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 326,962 266,120
SHAREHOLDERS' FUNDS 326,982 266,140

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.

EK Furniture Outlet Limited (Registered number: SC476440)

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 31 October 2023 and were signed on its behalf by:





J Tennyson - Director


EK Furniture Outlet Limited (Registered number: SC476440)

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

1. STATUTORY INFORMATION

EK Furniture Outlet Limited is a private company, limited by shares , registered in Scotland. 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.
Plant and machinery etc - 25% 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 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.

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.

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.

EK Furniture Outlet Limited (Registered number: SC476440)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 66,683
Additions 2,000
At 28 February 2023 68,683
DEPRECIATION
At 1 March 2022 36,863
Charge for year 10,234
At 28 February 2023 47,097
NET BOOK VALUE
At 28 February 2023 21,586
At 28 February 2022 29,820

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 1,191 3,343
Other debtors 128,004 16,008
129,195 19,351

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 87,561 46,949
Taxation and social security 102,309 67,365
Other creditors 105,580 107,483
305,450 231,797

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 22,500 32,500

EK Furniture Outlet Limited (Registered number: SC476440)

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

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
J Tennyson
Balance outstanding at start of year - -
Amounts advanced 40,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 40,000 -

Mrs E Tennyson
Balance outstanding at start of year - -
Amounts advanced 40,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 40,000 -

9. ULTIMATE CONTROLLING PARTY

The directors jointly control the company.