IRIS Accounts Production v23.3.1.45 04315821 Board of Directors 1.5.22 30.4.23 30.4.23 false true false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure043158212022-04-30043158212023-04-30043158212022-05-012023-04-30043158212021-04-30043158212021-05-012022-04-30043158212022-04-3004315821ns16:EnglandWales2022-05-012023-04-3004315821ns15:PoundSterling2022-05-012023-04-3004315821ns11:Director12022-05-012023-04-3004315821ns11:PrivateLimitedCompanyLtd2022-05-012023-04-3004315821ns11:SmallEntities2022-05-012023-04-3004315821ns11:AuditExempt-NoAccountantsReport2022-05-012023-04-3004315821ns11:SmallCompaniesRegimeForDirectorsReport2022-05-012023-04-3004315821ns11:SmallCompaniesRegimeForAccounts2022-05-012023-04-3004315821ns11:FullAccounts2022-05-012023-04-3004315821ns11:OrdinaryShareClass12022-05-012023-04-3004315821ns11:OrdinaryShareClass22022-05-012023-04-3004315821ns11:OrdinaryShareClass32022-05-012023-04-30043158213ns11:OrdinaryShareClass32022-05-012023-04-3004315821ns6:CurrentFinancialInstruments2023-04-3004315821ns6:CurrentFinancialInstruments2022-04-3004315821ns6:Non-currentFinancialInstruments2023-04-3004315821ns6:Non-currentFinancialInstruments2022-04-3004315821ns6:ShareCapital2023-04-3004315821ns6:ShareCapital2022-04-3004315821ns6:RetainedEarningsAccumulatedLosses2023-04-3004315821ns6:RetainedEarningsAccumulatedLosses2022-04-3004315821ns11:RegisteredOffice2022-05-012023-04-3004315821ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-05-012023-04-3004315821ns6:PlantMachinery2022-05-012023-04-3004315821ns6:FurnitureFittings2022-05-012023-04-3004315821ns6:MotorVehicles2022-05-012023-04-3004315821ns6:ComputerEquipment2022-05-012023-04-3004315821ns6:LandBuildings2022-04-3004315821ns6:PlantMachinery2022-04-3004315821ns6:FurnitureFittings2022-04-3004315821ns6:LandBuildings2022-05-012023-04-3004315821ns6:LandBuildings2023-04-3004315821ns6:PlantMachinery2023-04-3004315821ns6:FurnitureFittings2023-04-3004315821ns6:LandBuildings2022-04-3004315821ns6:PlantMachinery2022-04-3004315821ns6:FurnitureFittings2022-04-3004315821ns6:MotorVehicles2022-04-3004315821ns6:ComputerEquipment2022-04-3004315821ns6:MotorVehicles2023-04-3004315821ns6:ComputerEquipment2023-04-3004315821ns6:MotorVehicles2022-04-3004315821ns6:ComputerEquipment2022-04-3004315821ns6:WithinOneYearns6:CurrentFinancialInstruments2023-04-3004315821ns6:WithinOneYearns6:CurrentFinancialInstruments2022-04-3004315821ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-04-3004315821ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-04-3004315821ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-04-3004315821ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-04-3004315821ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2023-04-3004315821ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2022-04-3004315821ns6:AcceleratedTaxDepreciationDeferredTax2023-04-3004315821ns6:AcceleratedTaxDepreciationDeferredTax2022-04-3004315821ns6:DeferredTaxation2022-04-3004315821ns6:DeferredTaxation2022-05-012023-04-3004315821ns6:DeferredTaxation2023-04-3004315821ns11:OrdinaryShareClass12023-04-3004315821ns11:OrdinaryShareClass22023-04-3004315821ns11:OrdinaryShareClass32023-04-3004315821ns11:Director112022-04-3004315821ns11:Director112021-04-3004315821ns11:Director112022-05-012023-04-3004315821ns11:Director112021-05-012022-04-3004315821ns11:Director112023-04-3004315821ns11:Director112022-04-30
REGISTERED NUMBER: 04315821 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 APRIL 2023

FOR

COUNTRY FURNITURE BARNS LIMITED

COUNTRY FURNITURE BARNS LIMITED (REGISTERED NUMBER: 04315821)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


COUNTRY FURNITURE BARNS LIMITED (REGISTERED NUMBER: 04315821)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 535,177 546,939

CURRENT ASSETS
Stocks 612,000 545,000
Debtors 6 61,875 79,235
Cash at bank and in hand 154,204 56,087
828,079 680,322
CREDITORS
Amounts falling due within one year 7 232,864 231,999
NET CURRENT ASSETS 595,215 448,323
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,130,392

995,262

CREDITORS
Amounts falling due after more than
one year

8

(231,390

)

(258,390

)

PROVISIONS FOR LIABILITIES 9 (4,331 ) (3,143 )
NET ASSETS 894,671 733,729

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 894,571 733,629
SHAREHOLDERS' FUNDS 894,671 733,729

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

COUNTRY FURNITURE BARNS LIMITED (REGISTERED NUMBER: 04315821)

BALANCE SHEET - continued
30 APRIL 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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:





Mrs K Clark - Director


COUNTRY FURNITURE BARNS LIMITED (REGISTERED NUMBER: 04315821)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Country Furniture Barns Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04315821

Registered office: Country Furniture Barn
Hawkhurst Road
Flimwell
East Sussex
TN5 7QH

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 15% on reducing balance

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

COUNTRY FURNITURE BARNS LIMITED (REGISTERED NUMBER: 04315821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


COUNTRY FURNITURE BARNS LIMITED (REGISTERED NUMBER: 04315821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.

4. EMPLOYEES AND DIRECTORS

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

COUNTRY FURNITURE BARNS LIMITED (REGISTERED NUMBER: 04315821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2022 619,734 4,713 17,397
Additions - 975 335
At 30 April 2023 619,734 5,688 17,732
DEPRECIATION
At 1 May 2022 90,189 2,846 9,605
Charge for year 12,394 710 2,032
At 30 April 2023 102,583 3,556 11,637
NET BOOK VALUE
At 30 April 2023 517,151 2,132 6,095
At 30 April 2022 529,545 1,867 7,792

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 May 2022 24,675 7,556 674,075
Additions - 4,247 5,557
At 30 April 2023 24,675 11,803 679,632
DEPRECIATION
At 1 May 2022 20,818 3,678 127,136
Charge for year 964 1,219 17,319
At 30 April 2023 21,782 4,897 144,455
NET BOOK VALUE
At 30 April 2023 2,893 6,906 535,177
At 30 April 2022 3,857 3,878 546,939

COUNTRY FURNITURE BARNS LIMITED (REGISTERED NUMBER: 04315821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 36,277 27,627
Directors' current accounts 13,315 35,688
Prepayments and accrued income 12,283 15,920
61,875 79,235

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 39,147 39,147
Trade creditors 88,937 73,445
Corporation tax 66,772 72,111
PAYE and social security 966 1,730
VAT 21,397 18,930
Other creditors 570 626
Net Wages 9,843 10,104
Directors' current accounts 332 -
Accruals and deferred income 4,900 15,906
232,864 231,999

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 39,147 39,147
Bank loans - 2-5 years 99,941 109,942
Bank loans over 5 years 92,302 109,301
231,390 258,390

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 92,302 109,301

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 4,331 3,143

COUNTRY FURNITURE BARNS LIMITED (REGISTERED NUMBER: 04315821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2022 3,143
Provided during year 1,188
Balance at 30 April 2023 4,331

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
45 Ordinary A £1 45 50
45 Ordinary B £1 45 50
10 Ordinary C £1 10 -
100 100

10 Ordinary C shares of £1 each were allotted and fully paid for cash at par during the year.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
Mrs K Clark
Balance outstanding at start of year 35,688 (58,918 )
Amounts advanced - 121,370
Amounts repaid (22,373 ) (26,764 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,315 35,688

Interest is charged on the overdrawn balance at the standard HMRC rate.