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REGISTERED NUMBER: 08569369 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

FURNITURE PLUS (ANGLIA) LTD

FURNITURE PLUS (ANGLIA) LTD (REGISTERED NUMBER: 08569369)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FURNITURE PLUS (ANGLIA) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mr S J Jordan
Mr R McBride





REGISTERED OFFICE: 21 Market Place
Dereham
Norfolk
NR19 2AX





REGISTERED NUMBER: 08569369 (England and Wales)





ACCOUNTANTS: Farnell Clarke (Dereham) Limited
21 Market Place
Dereham
Norfolk
NR19 2AX

FURNITURE PLUS (ANGLIA) LTD (REGISTERED NUMBER: 08569369)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,000
Tangible assets 5 996 5,974
996 7,974

CURRENT ASSETS
Stocks 49,619 45,687
Debtors 6 40,545 13,233
Cash at bank 552 5,321
90,716 64,241
CREDITORS
Amounts falling due within one year 7 58,151 51,021
NET CURRENT ASSETS 32,565 13,220
TOTAL ASSETS LESS CURRENT LIABILITIES 33,561 21,194

CREDITORS
Amounts falling due after more than one
year

8

12,250

15,781
NET ASSETS 21,311 5,413

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 21,211 5,313
SHAREHOLDERS' FUNDS 21,311 5,413

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

FURNITURE PLUS (ANGLIA) LTD (REGISTERED NUMBER: 08569369)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 15 March 2024 and were signed on its behalf by:





Mr S J Jordan - Director


FURNITURE PLUS (ANGLIA) LTD (REGISTERED NUMBER: 08569369)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Furniture Plus (Anglia) 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

FURNITURE PLUS (ANGLIA) LTD (REGISTERED NUMBER: 08569369)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 20,000
AMORTISATION
At 1 July 2022 18,000
Amortisation for year 2,000
At 30 June 2023 20,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 2,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2022
and 30 June 2023 3,716 2,062 26,100 31,878
DEPRECIATION
At 1 July 2022 2,850 2,059 20,995 25,904
Charge for year 265 - 4,713 4,978
At 30 June 2023 3,115 2,059 25,708 30,882
NET BOOK VALUE
At 30 June 2023 601 3 392 996
At 30 June 2022 866 3 5,105 5,974

FURNITURE PLUS (ANGLIA) LTD (REGISTERED NUMBER: 08569369)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2022
and 30 June 2023 18,850
DEPRECIATION
At 1 July 2022
and 30 June 2023 13,746
NET BOOK VALUE
At 30 June 2023 5,104
At 30 June 2022 5,104

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 29,060 10,675
Amounts owed by group undertakings 8,094 -
Tax 1,850 1,850
Prepayments 1,541 708
40,545 13,233

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,083 5,000
Hire purchase contracts 364 3,463
Trade creditors 20,765 29,582
Amounts owed to group undertakings - 4,285
Corporation tax 10,855 -
Social security and other taxes 760 362
VAT 6,716 368
Pensions payable 415 383
Directors' current accounts 11,988 5,478
Accrued expenses 2,205 2,100
58,151 51,021

FURNITURE PLUS (ANGLIA) LTD (REGISTERED NUMBER: 08569369)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 4,083 5,000
Bank loans - 2-5 years 8,167 10,417
Hire purchase contracts - 364
12,250 15,781

9. CALLED UP SHARE CAPITAL

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

10. RELATED PARTY DISCLOSURES

At the balance sheet date, a loan existed between the company and a related company under common control, Anglian Solutions Ltd. The amount owed from the related company was £8,094, in 2022 the company owed £4,285. The loan was interest free and repayable on demand.



11. ULTIMATE CONTROLLING PARTY

The director, Mr S Jordan is the ultimate controlling party by the virtue of his 70% share holding.