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REGISTERED NUMBER: 04975960 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Low Woods Furnishings Limited

Low Woods Furnishings Limited (Registered number: 04975960)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Low Woods Furnishings Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mrs V E Hobden
J C Jacques
Mrs J E Jacques
T C Jacques
Mrs H J Thompson





REGISTERED OFFICE: Low Woods Lane
Belton
Loughborough
Leicestershire
LE12 9TR





REGISTERED NUMBER: 04975960 (England and Wales)





ACCOUNTANTS: Brockhurst Davies Limited
11 The Office Village
North Road
Loughborough
Leicestershire
LE11 1QJ

Low Woods Furnishings Limited (Registered number: 04975960)

Balance Sheet
30 June 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 97,770 57,087

CURRENT ASSETS
Stocks 81,776 89,512
Debtors 5 4,954 20,434
Cash at bank and in hand 82,680 107,008
169,410 216,954
CREDITORS
Amounts falling due within one year 6 134,436 123,368
NET CURRENT ASSETS 34,974 93,586
TOTAL ASSETS LESS CURRENT
LIABILITIES

132,744

150,673

CREDITORS
Amounts falling due after more than one year 7 (20,635 ) (30,812 )

PROVISIONS FOR LIABILITIES 8 (14,052 ) (4,895 )
NET ASSETS 98,057 114,966

CAPITAL AND RESERVES
Called up share capital 5 5
Retained earnings 98,052 114,961
SHAREHOLDERS' FUNDS 98,057 114,966

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.

Low Woods Furnishings Limited (Registered number: 04975960)

Balance Sheet - 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 31 March 2024 and were signed on its behalf by:





Mrs H J Thompson - Director


Low Woods Furnishings Limited (Registered number: 04975960)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Low Woods Furnishings Limited 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.

Significant judgements and estimates
The Directors are continually evaluating significant judgements and estimates based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates will, by definition, seldom equal the related actual results.

The Directors consider that there are no significant judgements and estimates in applying the company's accounting policies.

Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance, 20% on reducing balance and 10% on reducing balance

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 balance sheet date.


Low Woods Furnishings Limited (Registered number: 04975960)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Basic financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 July 2022 131,735
Additions 56,656
At 30 June 2023 188,391
DEPRECIATION
At 1 July 2022 74,648
Charge for year 15,973
At 30 June 2023 90,621
NET BOOK VALUE
At 30 June 2023 97,770
At 30 June 2022 57,087

Low Woods Furnishings Limited (Registered number: 04975960)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors - 3,544
Other debtors 4,954 16,890
4,954 20,434

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 9,996 9,594
Trade creditors 28,668 53,569
Tax 20,517 29,502
Social security and other taxes 2,111 1,208
VAT 3,385 1,028
Other creditors 371 676
Directors' loan accounts 23,362 22,311
Accruals and deferred income 46,026 5,480
134,436 123,368

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans - 1-2 years 10,209 9,594
Bank loans - 2-5 years 10,426 21,218
20,635 30,812

8. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax 14,052 4,895

Deferred tax
£
Balance at 1 July 2022 4,895
Provided during year 9,157
Balance at 30 June 2023 14,052