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REGISTERED NUMBER: 09992118 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Custom Fit Furniture Ltd

Custom Fit Furniture Ltd (Registered number: 09992118)






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

Chartered Certified Accountants' Report 8

Custom Fit Furniture Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTOR: M Yard





REGISTERED OFFICE: Unit 19 Newtown Business Park
Ringwood Road
Poole
Dorset
BH12 3LL





REGISTERED NUMBER: 09992118 (England and Wales)





ACCOUNTANTS: LJB Chartered Certified Accountants
Tax & Business Advisors
864 Christchurch Road
Bournemouth
Dorset
BH7 6DQ

Custom Fit Furniture Ltd (Registered number: 09992118)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,300 4,400
Property, plant and equipment 5 28,022 30,524
31,322 34,924

CURRENT ASSETS
Inventories 47,758 45,484
Debtors 6 151,344 118,069
Investments 7 8,396 8,396
Cash at bank and in hand 12,952 27,968
220,450 199,917
CREDITORS
Amounts falling due within one year 8 210,877 171,815
NET CURRENT ASSETS 9,573 28,102
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,895

63,026

CREDITORS
Amounts falling due after more than one year 9 (35,237 ) (49,586 )

PROVISIONS FOR LIABILITIES (5,324 ) (5,799 )
NET ASSETS 334 7,641

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 324 7,631
SHAREHOLDERS' FUNDS 334 7,641

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 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.

Custom Fit Furniture Ltd (Registered number: 09992118)

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 director and authorised for issue on 29 November 2023 and were signed by:





M Yard - Director


Custom Fit Furniture Ltd (Registered number: 09992118)

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

1. STATUTORY INFORMATION

Custom Fit Furniture Ltd 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
Revenue 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 2016, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery etc - 25% on reducing balance

Stocks
Inventories 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.

Custom Fit Furniture Ltd (Registered number: 09992118)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 11,000
AMORTISATION
At 1 March 2022 6,600
Charge for year 1,100
At 28 February 2023 7,700
NET BOOK VALUE
At 28 February 2023 3,300
At 28 February 2022 4,400

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 March 2022 58,177
Additions 6,839
At 28 February 2023 65,016
DEPRECIATION
At 1 March 2022 27,653
Charge for year 9,341
At 28 February 2023 36,994
NET BOOK VALUE
At 28 February 2023 28,022
At 28 February 2022 30,524

Custom Fit Furniture Ltd (Registered number: 09992118)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 90,475 78,439
Other debtors 60,869 39,630
151,344 118,069

7. CURRENT ASSET INVESTMENTS
28.2.23 28.2.22
£    £   
Other 8,396 8,396

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 9,849 9,606
Hire purchase contracts 4,500 4,500
Trade creditors 45,397 38,006
Taxation and social security 149,131 109,033
Other creditors 2,000 10,670
210,877 171,815

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 26,612 36,461
Hire purchase contracts 8,625 13,125
35,237 49,586

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

28.2.23 28.2.22
£    £   
M Yard
Balance outstanding at start of year 36,130 38,300
Amounts advanced 21,239 -
Amounts repaid - (2,170 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 57,369 36,130

Custom Fit Furniture Ltd (Registered number: 09992118)

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

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Yard.

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Custom Fit Furniture Ltd

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 Custom Fit Furniture Ltd for the year ended 28 February 2023 which comprise the Income Statement, 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 Custom Fit Furniture Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Custom Fit Furniture Ltd and state those matters that we have agreed to state to the director of Custom Fit Furniture Ltd 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 Custom Fit Furniture Ltd 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 Custom Fit Furniture Ltd. You consider that Custom Fit Furniture Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Custom Fit Furniture Ltd. 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.






LJB Chartered Certified Accountants
Tax & Business Advisors
864 Christchurch Road
Bournemouth
Dorset
BH7 6DQ


29 November 2023