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REGISTERED NUMBER: 08354814 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

WESTERN FURNISHINGS LIMITED

WESTERN FURNISHINGS LIMITED (REGISTERED NUMBER: 08354814)

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


WESTERN FURNISHINGS LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2023







DIRECTORS: S Mutton
Mrs L Mutton





REGISTERED OFFICE: 1 Rushmills
Bedford Road
Northampton
Northamptonshire
NN4 7YB





REGISTERED NUMBER: 08354814 (England and Wales)





ACCOUNTANTS: TC Group
1 Rushmills
Bedford Road
Northampton
Northamptonshire
NN4 7YB

WESTERN FURNISHINGS LIMITED (REGISTERED NUMBER: 08354814)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 72,290 81,128
72,290 81,128

CURRENT ASSETS
Stocks 38,500 43,000
Debtors 6 248,496 176,095
Cash at bank 984 31,662
287,980 250,757
CREDITORS
Amounts falling due within one year 7 216,834 145,668
NET CURRENT ASSETS 71,146 105,089
TOTAL ASSETS LESS CURRENT LIABILITIES 143,436 186,217

CREDITORS
Amounts falling due after more than
one year

8

(65,315

)

(103,298

)

PROVISIONS FOR LIABILITIES (4,701 ) (4,964 )
NET ASSETS 73,420 77,955

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 72,420 76,955
SHAREHOLDERS' FUNDS 73,420 77,955

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.

WESTERN FURNISHINGS LIMITED (REGISTERED NUMBER: 08354814)

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 15 November 2023 and were signed on its behalf by:




S Mutton - Director



Mrs L Mutton - Director


WESTERN FURNISHINGS LIMITED (REGISTERED NUMBER: 08354814)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023


1. STATUTORY INFORMATION

Western Furnishings 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 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 2014, is being amortised evenly over its estimated useful life of five 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 5% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 10% 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.


WESTERN FURNISHINGS LIMITED (REGISTERED NUMBER: 08354814)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 42,999
AMORTISATION
At 1 April 2022
and 31 March 2023 42,999
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

WESTERN FURNISHINGS LIMITED (REGISTERED NUMBER: 08354814)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 55,000 - 3,245 33,239 91,484
Additions - 1,800 700 - 2,500
At 31 March 2023 55,000 1,800 3,945 33,239 93,984
DEPRECIATION
At 1 April 2022 - - 2,988 7,368 10,356
Charge for year 7,450 360 204 3,324 11,338
At 31 March 2023 7,450 360 3,192 10,692 21,694
NET BOOK VALUE
At 31 March 2023 47,550 1,440 753 22,547 72,290
At 31 March 2022 55,000 - 257 25,871 81,128

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 29,639
DEPRECIATION
At 1 April 2022 5,928
Charge for year 2,964
At 31 March 2023 8,892
NET BOOK VALUE
At 31 March 2023 20,747
At 31 March 2022 23,711

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 100,817 72,000
Amounts owed by associates 91,673 37,100
Other debtors 56,006 66,995
248,496 176,095

WESTERN FURNISHINGS LIMITED (REGISTERED NUMBER: 08354814)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 27,073 28,000
Hire purchase contracts 8,242 9,889
Trade creditors 103,928 55,979
Taxation and social security 70,216 40,050
Other creditors 7,375 11,750
216,834 145,668

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 65,315 95,056
Hire purchase contracts - 8,242
65,315 103,298

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. 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
£    £   
S Mutton
Balance outstanding at start of year 66,995 (732 )
Amounts advanced 55,610 167,957
Amounts repaid (66,995 ) (100,230 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 55,610 66,995

These loans are unsecured, repayable on demand and have had an interest rate of 2.5% applied.