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Company registration number: 01713577
Lunns Blinds Limited
Unaudited filleted financial statements
30 November 2023
Lunns Blinds Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Lunns Blinds Limited
Directors and other information
Directors Mrs. S Ebilir
Mr. R Ebilir
Mr. J Pearson
Company number 01713577
Registered office 19 Cold Bath Road
Harrogate
HG2 0NL
Business address 19 Cold Bath Road
Harrogate
HG2 0NL
Accountants The Barker Partnership
24 High Street
Pateley Bridge
Harrogate
HG3 5JU
Lunns Blinds Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Lunns Blinds Limited
Year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lunns Blinds Limited for the year ended 30 November 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Lunns Blinds Limited, as a body, in accordance with the terms of our engagement letter dated 17 May 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Lunns Blinds Limited and state those matters that we have agreed to state to the board of directors of Lunns Blinds Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lunns Blinds Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Lunns Blinds Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lunns Blinds Limited. You consider that Lunns Blinds Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Lunns Blinds Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The Barker Partnership
Chartered Accountants
24 High Street
Pateley Bridge
Harrogate
HG3 5JU
29 February 2024
Lunns Blinds Limited
Statement of financial position
30 November 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 25,261 32,946
_______ _______
25,261 32,946
Current assets
Stocks 41,925 42,806
Debtors 7 240,591 247,334
Cash at bank and in hand 49,528 107,184
_______ _______
332,044 397,324
Creditors: amounts falling due
within one year 8 ( 162,387) ( 199,748)
_______ _______
Net current assets 169,657 197,576
_______ _______
Total assets less current liabilities 194,918 230,522
Creditors: amounts falling due
after more than one year 9 ( 17,167) ( 32,806)
Provisions for liabilities ( 2,041) ( 2,947)
_______ _______
Net assets 175,710 194,769
_______ _______
Capital and reserves
Called up share capital 130,000 130,000
Profit and loss account 45,710 64,769
_______ _______
Shareholders funds 175,710 194,769
_______ _______
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 February 2024 , and are signed on behalf of the board by:
Mrs. S Ebilir
Director
Company registration number: 01713577
Lunns Blinds Limited
Notes to the financial statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 19 Cold Bath Road, Harrogate, HG2 0NL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:
Plant and machinery - 20 % reducing balance
Fittings fixtures and equipment - 20 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2022: 11 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 December 2022 and 30 November 2023 61,332 61,332
_______ _______
Amortisation
At 1 December 2022 and 30 November 2023 61,332 61,332
_______ _______
Carrying amount
At 30 November 2023 - -
_______ _______
At 30 November 2022 - -
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 37,964 69,509 68,323 175,796
Additions 367 - - 367
_______ _______ _______ _______
At 30 November 2023 38,331 69,509 68,323 176,163
_______ _______ _______ _______
Depreciation
At 1 December 2022 34,314 68,028 40,508 142,850
Charge for the year 803 296 6,953 8,052
_______ _______ _______ _______
At 30 November 2023 35,117 68,324 47,461 150,902
_______ _______ _______ _______
Carrying amount
At 30 November 2023 3,214 1,185 20,862 25,261
_______ _______ _______ _______
At 30 November 2022 3,650 1,481 27,815 32,946
_______ _______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 31,188 21,746
Amounts owed by group undertakings and undertakings in which the company has a participating interest 198,165 198,165
Other debtors 11,238 27,423
_______ _______
240,591 247,334
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 11,306 24,944
Trade creditors 36,011 34,249
Corporation tax 28,091 25,310
Social security and other taxes 22,266 23,878
Other creditors 64,713 91,367
_______ _______
162,387 199,748
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 15,000 -
Other creditors 2,167 32,806
_______ _______
17,167 32,806
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mrs. S Ebilir ( 246) 37,881 ( 38,420) ( 785)
Mr. R Ebilir ( 246) 36,751 ( 37,290) ( 785)
Mr. J Pearson ( 245) 36,750 ( 37,290) ( 785)
_______ _______ _______ _______
( 737) 111,382 ( 113,000) ( 2,355)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mrs. S Ebilir 5,922 50,272 ( 56,440) ( 246)
Mr. R Ebilir 5,922 48,612 ( 54,780) ( 246)
Mr. J Pearson 5,922 48,613 ( 54,780) ( 245)
_______ _______ _______ _______
17,766 147,497 ( 166,000) ( 737)
_______ _______ _______ _______