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COMPANY REGISTRATION NUMBER: 03954885
Thomas Brown Furnishings Limited
Filleted Unaudited Financial Statements
31 July 2023
Thomas Brown Furnishings Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
5,311
12,158
Current assets
Debtors
6
105,355
139,657
Cash at bank and in hand
47,637
21,065
---------
---------
152,992
160,722
Creditors: amounts falling due within one year
7
84,188
107,822
---------
---------
Net current assets
68,804
52,900
--------
--------
Total assets less current liabilities
74,115
65,058
--------
--------
Net assets
74,115
65,058
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
74,113
65,056
--------
--------
Shareholders funds
74,115
65,058
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Thomas Brown Furnishings Limited
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 28 March 2024 , and are signed on behalf of the board by:
Mr S G Bonham
Director
Company registration number: 03954885
Thomas Brown Furnishings Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Allerton Road, Central Park, Rugby, Warwickshire, CV23 0PA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings
-
33% straight line
Motor Vehicles
-
25% straight line
Computer equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 3 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 August 2022
5,413
47,190
15,385
67,988
Additions
1
1
Disposals
( 1)
( 1)
-------
--------
--------
--------
At 31 July 2023
5,413
47,190
15,385
67,988
-------
--------
--------
--------
Depreciation
At 1 August 2022
5,413
35,505
14,912
55,830
Charge for the year
6,374
473
6,847
-------
--------
--------
--------
At 31 July 2023
5,413
41,879
15,385
62,677
-------
--------
--------
--------
Carrying amount
At 31 July 2023
5,311
5,311
-------
--------
--------
--------
At 31 July 2022
11,685
473
12,158
-------
--------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
90,067
116,667
Other debtors
15,288
22,990
---------
---------
105,355
139,657
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
13,825
10,561
Corporation tax
2,368
Social security and other taxes
3,283
1,429
Other creditors
64,712
95,832
--------
---------
84,188
107,822
--------
---------