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
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
Furniture Concept Ltd
Statement of financial position
as at 31 July 2023
Tangible assets
16,835
17,197
Cash at bank and in hand
92,617
109,929
Creditors: amounts falling due within one year
(89,270)
(93,852)
Net current assets
23,744
52,806
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
Furniture Concept Ltd
Notes to the Accounts
for the year ended 31 July 2023
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 .
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
Fixtures & fittings
20% WDV
Computer equipment
20% WDV
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.
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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
At 31 July 2023
57,156
3,797
20,588
81,541
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
At 31 July 2023
10,123
1,412
5,300
16,835
At 31 July 2022
12,653
1,765
2,779
17,197
Furniture Concept Ltd
Notes to the Accounts
for the year ended 31 July 2023
Amounts falling due within one year
Trade debtors
17,592
33,883
Accrued income and prepayments
2,805
2,846
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
30,383
34,306
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
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.
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Average number of employees
During the year the average number of employees was 4 (2022: 4).