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Company Registration No. 04840084 (England and Wales)
Furniture Concept Ltd Unaudited accounts for the year ended 31 July 2023
Furniture Concept Ltd Unaudited accounts Contents
Page
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Furniture Concept Ltd Company Information for the year ended 31 July 2023
Directors
Anna Suszynska Michal Suszynski
Company Number
04840084 (England and Wales)
Registered Office
PO Box OFFICE 19,Big Yellow Self Storage Beverley Way, New Malden, KT3 4PH
Accountants
Gordons Knight Ltd 12 South Drive Banstead Surrey England SM7 3BH
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Furniture Concept Ltd Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
16,835 
17,197 
Current assets
Debtors
20,397 
36,729 
Cash at bank and in hand
92,617 
109,929 
113,014 
146,658 
Creditors: amounts falling due within one year
(89,270)
(93,852)
Net current assets
23,744 
52,806 
Net assets
40,579 
70,003 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
40,479 
69,903 
Shareholders' funds
40,579 
70,003 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by
Anna Suszynska Director Company Registration No. 04840084
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Furniture Concept Ltd Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Furniture Concept Ltd is a private company, limited by shares, registered in England and Wales, registration number 04840084. The registered office is PO Box OFFICE 19,Big Yellow Self Storage, Beverley Way, New Malden, , KT3 4PH .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% WDV
Fixtures & fittings
20% WDV
Computer equipment
20% WDV
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2022
57,156 
3,797 
16,742 
77,695 
Additions
- 
- 
3,846 
3,846 
At 31 July 2023
57,156 
3,797 
20,588 
81,541 
Depreciation
At 1 August 2022
44,503 
2,032 
13,963 
60,498 
Charge for the year
2,530 
353 
1,325 
4,208 
At 31 July 2023
47,033 
2,385 
15,288 
64,706 
Net book value
At 31 July 2023
10,123 
1,412 
5,300 
16,835 
At 31 July 2022
12,653 
1,765 
2,779 
17,197 
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Furniture Concept Ltd Notes to the Accounts for the year ended 31 July 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
17,592 
33,883 
Accrued income and prepayments
2,805 
2,846 
20,397 
36,729 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
30,383 
34,306 
VAT
26,699 
24,161 
Trade creditors
7,421 
12,191 
Taxes and social security
17,766 
18,265 
Other creditors
5,361 
4,125 
Loans from directors
1,140 
304 
Accruals
500 
500 
89,270 
93,852 
7
Controlling party
The company's controlling party is Michal Suszynski - 49% ; Anna Suszynska - 51% by virtue of his ownership of the issued share capital in the company.
8
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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