Registered number
13412323
SOFANCY UPHOLSTERY LTD.
Report and Accounts
31 May 2023
SOFANCY UPHOLSTERY LTD.
Balance Sheet as at 31 May
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,000 5,000
Current assets
Stocks 920 550
Cash at bank and in hand 1,748 2,383
2,668 2,933
Creditors: amounts falling due within one year 4 (1,552) (1,469)
Net current assets 1,116 1,464
Total assets less current liabilities 7,116 6,464
Creditors: amounts falling due after more than one year 570 -
Net assets 7,686 6,464
Capital and reserves
Called up share capital 100 100
Profit and loss account 7,586 6,364
Shareholder's funds 7,686 6,464
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr I Hussain
Director
Approved by the board on 17 January 2024
SOFANCY UPHOLSTERY LTD.
Notes to the Accounts for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price recognised at transaction price net of any transaction costs .
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2023 2022
Average number of persons employed by the company 2 2
3 Tangible fixed assets Land and buildings Plant and machinery Total
Cost £ £ £
At 1 June 2022 - 5,250 5,250
Disposal - 1,670 1,670
At 31 May 2023 - 6,920 6,920
Depreciation
At 1 June 2022 - 250 250
Charge for the year - 670 670
At 31 May 2023 - 920 920
Net book value
At 31 May 2023 - 6,000 6,000
At 31 May 2022 - 5,000 5,000
4 Creditors: amounts falling due within one year
Trade creditors - 13
Taxation and social security costs 1,552 1,318
Other creditors - 138
1,552 1,469
5 Creditors: amount falling due after one year
other Creditors (570)
5 Other information
SOFANCY UPHOLSTERY LTD. is a private company limited by shares and incorporated in England. Its registered office is:
Unit 5c1 Legrams Lane B
Bradford
BD7 1NH
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