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Registered Number: 07170144
England and Wales

 

 

 

BASE FURNISHINGS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 59,394    63,892 
Tangible fixed assets 4 133,862    107,338 
Investments 5 28,400    28,400 
221,656    199,630 
Current assets      
Stocks 1,160,229    967,761 
Debtors (92,887)   174,717 
Cash at bank and in hand 240,751    39,431 
1,308,093    1,181,909 
Creditors: amount falling due within one year (999,803)   (787,194)
Net current assets 308,290    394,715 
 
Total assets less current liabilities 529,946    594,345 
Creditors: amount falling due after more than one year (297,921)   (402,042)
Net assets 232,025    192,303 
 

Capital and reserves
     
Called up share capital 90,000    90,000 
Profit and loss account 142,025    102,303 
Shareholder's funds 232,025    192,303 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 12 February 2024 and were signed on its behalf by:


-------------------------------
Sayed Asad Husain
Director
1
General Information
Base Furnishings Limited is a private company, limited by shares, registered in England and Wales, registration number 07170144, registration address 10 Walmgate Road, Perivale, London, Middlesex, UB6 7LH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortized at 5% on a straight line basis. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Software License
Software License is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Software License of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant & Machinery 20% Straight Line
Motor Vehicles 20% Straight Line
Fixture & Fittings 20% Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 24 (2022 : 23).
3.

Intangible fixed assets

Cost Software   Total
  £   £
At 01 April 2022 108,405    108,405 
Additions  
Disposals  
At 31 March 2023 108,405    108,405 
Amortisation
At 01 April 2022 44,513    44,513 
Charge for year 4,498    4,498 
On disposals  
At 31 March 2023 49,011    49,011 
Net book values
At 31 March 2023 59,394    59,394 
At 31 March 2022 63,892    63,892 


4.

Tangible fixed assets

Cost or valuation Plant & Machinery   Motor Vehicles   Fixture & Fittings   Total
  £   £   £   £
At 01 April 2022 19,770    221,883    36,705    278,358 
Additions   65,118    23,363    88,481 
Disposals      
At 31 March 2023 19,770    287,001    60,068    366,839 
Depreciation
At 01 April 2022 13,236    130,676    27,108    171,020 
Charge for year 3,954    48,049    9,954    61,957 
On disposals      
At 31 March 2023 17,190    178,725    37,062    232,977 
Net book values
Closing balance as at 31 March 2023 2,580    108,276    23,006    133,862 
Opening balance as at 01 April 2022 6,534    91,207    9,597    107,338 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 April 2022 28,400    28,400 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2023 28,400    28,400 

2