Registered number
14661969
Fosseway Furniture Ltd
Filleted Accounts
28 February 2024
Fosseway Furniture Ltd
Company Information
Directors
Ms A M Haslam
D M J Jenkins
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
Unit 3a
Tilemans Lane
Shipston On Stour
Warwickshire
Registered number
14661969
Fosseway Furniture Ltd
Registered number: 14661969
Balance Sheet
as at 28 February 2024
Notes 2024
£
Fixed assets
Intangible assets 3 20,000
Current assets
Cash at bank and in hand 6,378
Creditors: amounts falling due within one year 4 (8,797)
Net current liabilities (2,419)
Total assets less current liabilities 17,581
Creditors: amounts falling due after more than one year 5 (16,900)
Net assets 681
Capital and reserves
Called up share capital 100
Profit and loss account 581
Shareholders' funds 681
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D M J Jenkins
Director
Approved by the board on 30 April 2024
Fosseway Furniture Ltd
Notes to the Accounts
for the period from 14 February 2023 to 28 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024
Number
Average number of persons employed by the company 2
3 Intangible fixed assets £
Goodwill:
Cost
Additions 20,000
At 28 February 2024 20,000
Amortisation
At 28 February 2024 -
Net book value
At 28 February 2024 20,000
4 Creditors: amounts falling due within one year 2024
£
Taxation and social security costs 6,703
Other creditors 2,094
8,797
5 Creditors: amounts falling due after one year 2024
£
Directors loan 16,900
6 Controlling party
The company is controlled by the directors.
7 Other information
Fosseway Furniture Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3a
Tilemans Lane
Shipston On Stour
Warwickshire
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