Registered number
07922290
Daniels Upholstery Limited
Filleted Accounts
31 January 2024
Daniels Upholstery Limited
Registered number: 07922290
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,357 382
Current assets
Stocks 690 690
Debtors 4 6,375 224
Cash at bank and in hand 16,122 11,597
23,187 12,511
Creditors: amounts falling due within one year 5 (11,749) (9,714)
Net current assets 11,438 2,797
Net assets 12,795 3,179
Capital and reserves
Called up share capital 1 1
Profit and loss account 12,794 3,178
Shareholders' funds 12,795 3,179
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Daniels
Director
Approved by the board on 11 March 2024
Daniels Upholstery Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Straight Line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 2,232 21,810 24,042
Additions 1,426 - 1,426
At 31 January 2024 3,658 21,810 25,468
Depreciation
At 1 February 2023 1,850 21,810 23,660
Charge for the year 451 - 451
At 31 January 2024 2,301 21,810 24,111
Net book value
At 31 January 2024 1,357 - 1,357
At 31 January 2023 382 - 382
4 Debtors 2024 2023
£ £
Trade debtors 6,151 -
Other debtors 224 224
6,375 224
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 448 162
Taxation and social security costs 4,703 2,197
Other creditors 6,598 7,355
11,749 9,714
6 Other information
Daniels Upholstery Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Albany Road
Crawley
RH11 7BZ
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