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REGISTERED NUMBER: 03164119 (England and Wales)















ASHLEY BELLAMY FURNISHING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






ASHLEY BELLAMY FURNISHING LTD (REGISTERED NUMBER: 03164119)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


ASHLEY BELLAMY FURNISHING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr A W Bellamy
Mrs D J Bellamy





SECRETARY: Mrs D J Bellamy





REGISTERED OFFICE: Carter Lane
Shirebrook
Mansfield
Nottinghamshire
NG20 8AH





REGISTERED NUMBER: 03164119 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

ASHLEY BELLAMY FURNISHING LTD (REGISTERED NUMBER: 03164119)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 108,244 700,549

CURRENT ASSETS
Inventories 93,670 83,314
Debtors 5 1,544,267 799,120
Investments 6 19,150 18,081
Cash at bank 13 15,325
1,657,100 915,840
CREDITORS
Amounts falling due within one year 7 704,628 772,667
NET CURRENT ASSETS 952,472 143,173
TOTAL ASSETS LESS CURRENT LIABILITIES 1,060,716 843,722

CREDITORS
Amounts falling due after more than one year 8 (396,393 ) (439,137 )

PROVISIONS FOR LIABILITIES (24,115 ) (16,951 )
NET ASSETS 640,208 387,634

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 640,108 387,534
SHAREHOLDERS' FUNDS 640,208 387,634

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ASHLEY BELLAMY FURNISHING LTD (REGISTERED NUMBER: 03164119)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:





Mr A W Bellamy - Director


ASHLEY BELLAMY FURNISHING LTD (REGISTERED NUMBER: 03164119)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Ashley Bellamy Furnishing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 20% on reducing balance and 2% on cost
Plant and machinery etc - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at the most recent valuation less any impairment. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories
Inventories are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

ASHLEY BELLAMY FURNISHING LTD (REGISTERED NUMBER: 03164119)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Foreign currency translation
Balances held at the year end have been converted at that date and any gain or loss taken to the profit and loss account.
Transactions during the year have been converted at the date of the transaction.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 18 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 880,577 1,018,496 1,899,073
Additions - 32,050 32,050
Disposals (726,791 ) - (726,791 )
At 31 March 2023 153,786 1,050,546 1,204,332
DEPRECIATION
At 1 April 2022 273,570 924,954 1,198,524
Charge for year 2,208 26,180 28,388
Eliminated on disposal (130,824 ) - (130,824 )
At 31 March 2023 144,954 951,134 1,096,088
NET BOOK VALUE
At 31 March 2023 8,832 99,412 108,244
At 31 March 2022 607,007 93,542 700,549

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 31,724 18,918
Other debtors 1,512,543 780,202
1,544,267 799,120

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Other investments 19,150 18,081

ASHLEY BELLAMY FURNISHING LTD (REGISTERED NUMBER: 03164119)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,436 47,862
Hire purchase contracts (see note 9) 14,602 10,599
Trade creditors 301,336 191,279
Taxation and social security 161,268 212,054
Other creditors 176,986 310,873
704,628 772,667

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 381,861 429,684
Hire purchase contracts (see note 9) 14,532 9,453
396,393 439,137

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 155,121 197,636

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 14,602 10,599
Between one and five years 14,532 9,453
29,134 20,052

Non-cancellable operating leases
2023 2022
£    £   
Within one year 5,000 -
Between one and five years 25,000 -
In more than five years 10,000 -
40,000 -

ASHLEY BELLAMY FURNISHING LTD (REGISTERED NUMBER: 03164119)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 432,297 477,546

Bank loans are secured by cross guarantee against the investment property held by the parent company, AB Furnishing Holdings Ltd.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. OTHER FINANCIAL COMMITMENTS

The company had commitments due as follows;
31.3.2331.3.22
££
Within one year65,00065,000
65,00065,000