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Company Registration No. 10167982 (England and Wales)
SIMPLY FURNITURE LIMITED Unaudited accounts for the year ended 31 May 2023
SIMPLY FURNITURE LIMITED Unaudited accounts Contents
Page
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SIMPLY FURNITURE LIMITED Company Information for the year ended 31 May 2023
Director
STEPHEN RICHARDSON
Company Number
10167982 (England and Wales)
Registered Office
NEWSTET ROAD KIRKBY INDUSTRIAL ESTATE LIVERPOOL L33 7TJ UK
Accountants
Rawson Irekponor MAAT, ACCA Liverpool Innovation Park Liverpool Innovation Park Liverpool L7 9NJ
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SIMPLY FURNITURE LIMITED Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
35,000 
35,000 
Tangible assets
13,497 
11,034 
48,497 
46,034 
Current assets
Inventories
42,808 
40,284 
Cash at bank and in hand
16,021 
20,143 
58,829 
60,427 
Creditors: amounts falling due within one year
(34,653)
(33,321)
Net current assets
24,176 
27,106 
Total assets less current liabilities
72,673 
73,140 
Creditors: amounts falling due after more than one year
(23,925)
(26,627)
Net assets
48,748 
46,513 
Capital and reserves
Called up share capital
100 
100 
Share premium
40,000 
40,000 
Profit and loss account
8,648 
6,413 
Shareholders' funds
48,748 
46,513 
For the year ending 31 May 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 director acknowledges his 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 and authorised for issue on 9 February 2024 and were signed on its behalf by
STEPHEN RICHARDSON Director Company Registration No. 10167982
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SIMPLY FURNITURE LIMITED Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
SIMPLY FURNITURE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10167982. The registered office is NEWSTET ROAD, KIRKBY INDUSTRIAL ESTATE, LIVERPOOL, L33 7TJ, UK.
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.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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 on a straight line method
Plant & machinery
1
Motor vehicles
1
Computer equipment
1
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.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2022
40,000 
At 31 May 2023
40,000 
Amortisation
At 1 June 2022
5,000 
At 31 May 2023
5,000 
Net book value
At 31 May 2023
35,000 
At 31 May 2022
35,000 
PURCHASED GOODWILL
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SIMPLY FURNITURE LIMITED Notes to the Accounts for the year ended 31 May 2023
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2022
17,400 
12,000 
2,667 
32,067 
Additions
- 
7,000 
800 
7,800 
At 31 May 2023
17,400 
19,000 
3,467 
39,867 
Depreciation
At 1 June 2022
8,440 
10,600 
1,993 
21,033 
Charge for the year
1,740 
2,800 
797 
5,337 
At 31 May 2023
10,180 
13,400 
2,790 
26,370 
Net book value
At 31 May 2023
7,220 
5,600 
677 
13,497 
At 31 May 2022
8,960 
1,400 
674 
11,034 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
23,094 
18,988 
Taxes and social security
1,359 
1,133 
Loans from directors
10,200 
13,200 
34,653 
33,321 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
23,925 
26,627 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 10 (2022: 10).
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