Company registration number 09200289 (England and Wales)
UK FURNITURE INSTALLATION SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
UK FURNITURE INSTALLATION SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
UK FURNITURE INSTALLATION SERVICES LIMITED
BALANCE SHEET
AS AT
29 JUNE 2023
29 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
599
1,161
Current assets
Debtors
4
19,598
25,034
Cash at bank and in hand
60,313
20,280
79,911
45,314
Creditors: amounts falling due within one year
5
(40,029)
(16,187)
Net current assets
39,882
29,127
Total assets less current liabilities
40,481
30,288
Creditors: amounts falling due after more than one year
6
(4,158)
(6,002)
Provisions for liabilities
(114)
(220)
Net assets
36,209
24,066
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
36,109
23,966
Total equity
36,209
24,066

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

UK FURNITURE INSTALLATION SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
29 JUNE 2023
29 June 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 27 November 2023
Mr E P Loftus
Director
Company registration number 09200289 (England and Wales)
UK FURNITURE INSTALLATION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023
- 3 -
1
Accounting policies
Company information

UK Furniture Installation Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mentor House, Ainsworth Street, Blackburn, Lancashire, United Kingdom, BB1 6AY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

UK FURNITURE INSTALLATION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
1
Accounting policies
(Continued)
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is recognised, without discounting, in respect of timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
UK FURNITURE INSTALLATION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 30 June 2022 and 29 June 2023
3,291
Depreciation and impairment
At 30 June 2022
2,130
Depreciation charged in the year
562
At 29 June 2023
2,692
Carrying amount
At 29 June 2023
599
At 29 June 2022
1,161
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
8,123
7,558
Amounts owed by group undertakings
-
0
1,665
Other debtors
11,475
15,811
19,598
25,034
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
2,012
1,999
Trade creditors
-
0
7,470
Amounts owed to group undertakings
2,415
-
0
Corporation tax
4,416
5,952
Other taxation and social security
3,201
766
Other creditors
27,985
-
0
40,029
16,187

Included within Other creditors is amounts due from Office Image Interiors Limited of £26,185 (2022: £3,595 was due from Office Image Interiors Limited).

UK FURNITURE INSTALLATION SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
- 6 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
4,158
6,002

The bank loan is a loan provided under the bounce back loan scheme secured by the government.

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
100
100
100
100
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