Furr & Co Limited 03928261 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is Retail Jewellery. Digita Accounts Production Advanced 6.30.9574.0 true true 03928261 2022-04-01 2023-03-31 03928261 2023-03-31 03928261 bus:Director1 1 2023-03-31 03928261 core:CurrentFinancialInstruments 2023-03-31 03928261 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03928261 core:FurnitureFittings 2023-03-31 03928261 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 03928261 core:OfficeEquipment 2023-03-31 03928261 core:PlantMachinery 2023-03-31 03928261 bus:SmallEntities 2022-04-01 2023-03-31 03928261 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 03928261 bus:FullAccounts 2022-04-01 2023-03-31 03928261 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 03928261 bus:RegisteredOffice 2022-04-01 2023-03-31 03928261 bus:Director1 2022-04-01 2023-03-31 03928261 bus:Director1 1 2022-04-01 2023-03-31 03928261 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03928261 core:ComputerEquipment 2022-04-01 2023-03-31 03928261 core:FurnitureFittings 2022-04-01 2023-03-31 03928261 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03928261 core:OfficeEquipment 2022-04-01 2023-03-31 03928261 core:PlantMachinery 2022-04-01 2023-03-31 03928261 countries:EnglandWales 2022-04-01 2023-03-31 03928261 2022-03-31 03928261 bus:Director1 1 2022-03-31 03928261 core:FurnitureFittings 2022-03-31 03928261 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 03928261 core:OfficeEquipment 2022-03-31 03928261 core:PlantMachinery 2022-03-31 03928261 2021-04-01 2022-03-31 03928261 2022-03-31 03928261 bus:Director1 1 2022-03-31 03928261 core:CurrentFinancialInstruments 2022-03-31 03928261 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 03928261 core:FurnitureFittings 2022-03-31 03928261 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 03928261 core:OfficeEquipment 2022-03-31 03928261 core:PlantMachinery 2022-03-31 03928261 bus:Director1 1 2021-04-01 2022-03-31 03928261 bus:Director1 1 2021-03-31 iso4217:GBP xbrli:pure

Registration number: 03928261

Furr & Co Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Furr & Co Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Furr & Co Limited

(Registration number: 03928261)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

440,998

442,048

Current assets

 

Stocks

5

51,850

82,048

Debtors

6

114,704

138,816

Cash at bank and in hand

 

558,062

551,713

 

724,616

772,577

Creditors: Amounts falling due within one year

7

(13,692)

(20,782)

Net current assets

 

710,924

751,795

Total assets less current liabilities

 

1,151,922

1,193,843

Provisions for liabilities

(628)

(657)

Net assets

 

1,151,294

1,193,186

Capital and reserves

 

Called up share capital

4

4

Retained earnings

1,151,290

1,193,182

Shareholders' funds

 

1,151,294

1,193,186

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 March 2024 and signed on its behalf by:
 

 

Furr & Co Limited

(Registration number: 03928261)
Balance Sheet as at 31 March 2023

.........................................
GE Furr
Director

 

Furr & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Alderbrook
Craven Road
Inkpen
Hungerford
Berkshire
RG17 9DX
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Furr & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10 - 25% reducing balance basis

Computer equipment

25% reducing balance basis

Fixtures and fittings

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Furr & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2022

437,691

49,074

48,445

3,455

538,665

At 31 March 2023

437,691

49,074

48,445

3,455

538,665

Depreciation

At 1 April 2022

-

45,874

47,968

2,775

96,617

Charge for the year

-

806

73

171

1,050

At 31 March 2023

-

46,680

48,041

2,946

97,667

Carrying amount

At 31 March 2023

437,691

2,394

404

509

440,998

At 31 March 2022

437,691

3,200

477

680

442,048

5

Stocks

2023
£

2022
£

Other inventories

51,850

82,048

6

Debtors

Current

2023
£

2022
£

Trade debtors

17,770

41,882

Other debtors

96,934

96,934

 

114,704

138,816

 

Furr & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

9,344

15,207

Other creditors

4,348

5,575

13,692

20,782

8

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

At 31 March 2023
£

GE Furr

Directors loan account

83,873

83,873

     
   

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

GE Furr

Directors loan account

60,199

32,096

(8,422)

83,873