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REGISTERED NUMBER: 05323786 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

MARK BUTTERFIELD FURNITURE LIMITED

MARK BUTTERFIELD FURNITURE LIMITED (REGISTERED NUMBER: 05323786)






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


MARK BUTTERFIELD FURNITURE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: M P Butterfield
G A Voice





SECRETARY: G A Voice





REGISTERED OFFICE: St John's House
Castle Street
Taunton
Somerset
TA1 4AY





REGISTERED NUMBER: 05323786 (England and Wales)





ACCOUNTANTS: Mitchells Chartered Accountants
St. John's House,
Castle Street,
Taunton
Somerset
TA1 4AY

MARK BUTTERFIELD FURNITURE LIMITED (REGISTERED NUMBER: 05323786)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 451 602
Tangible assets 5 424,938 386,583
425,389 387,185

CURRENT ASSETS
Stocks 137,892 78,307
Debtors 6 23,900 298
Cash at bank and in hand 107,337 185,472
269,129 264,077
CREDITORS
Amounts falling due within one year 7 124,414 199,105
NET CURRENT ASSETS 144,715 64,972
TOTAL ASSETS LESS CURRENT
LIABILITIES

570,104

452,157

CREDITORS
Amounts falling due after more than one
year

8

-

(40,278

)

PROVISIONS FOR LIABILITIES (22,235 ) (14,947 )
NET ASSETS 547,869 396,932

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 9 547,867 396,930
SHAREHOLDERS' FUNDS 547,869 396,932

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.

MARK BUTTERFIELD FURNITURE LIMITED (REGISTERED NUMBER: 05323786)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:





M P Butterfield - Director


MARK BUTTERFIELD FURNITURE LIMITED (REGISTERED NUMBER: 05323786)

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

1. STATUTORY INFORMATION

Mark Butterfield 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.

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.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

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 reducing balance and 15% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

MARK BUTTERFIELD FURNITURE LIMITED (REGISTERED NUMBER: 05323786)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 2,070
AMORTISATION
At 1 April 2022 1,468
Charge for year 151
At 31 March 2023 1,619
NET BOOK VALUE
At 31 March 2023 451
At 31 March 2022 602

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 307,914 279,611 587,525
Additions - 74,435 74,435
At 31 March 2023 307,914 354,046 661,960
DEPRECIATION
At 1 April 2022 - 200,942 200,942
Charge for year - 36,080 36,080
At 31 March 2023 - 237,022 237,022
NET BOOK VALUE
At 31 March 2023 307,914 117,024 424,938
At 31 March 2022 307,914 78,669 386,583

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 23,900 69
Other debtors - 229
23,900 298

MARK BUTTERFIELD FURNITURE LIMITED (REGISTERED NUMBER: 05323786)

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
£    £   
Bank loans and overdrafts - 35,365
Trade creditors 511 39,158
Taxation and social security 55,444 29,879
Other creditors 68,459 94,703
124,414 199,105

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 40,278

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 18,055

9. RESERVES
Retained
earnings
£   

At 1 April 2022 396,930
Profit for the year 212,937
Dividends (62,000 )
At 31 March 2023 547,867