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REGISTERED NUMBER: 02978752 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

The Gosport Furniture Shop Ltd

The Gosport Furniture Shop Ltd (Registered number: 02978752)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Gosport Furniture Shop Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: K L White
Mrs A J Thorn





SECRETARY: Mrs A J Thorn





REGISTERED OFFICE: 41-43 Stoke Road
Gosport
Hampshire
PO12 1LS





REGISTERED NUMBER: 02978752 (England and Wales)





ACCOUNTANTS: Ency Associates
Chartered Certified Accountants
Printware Court
Cumberland Business Centre
Northumberland Road
Portsmouth
Hampshire
PO5 1DS

The Gosport Furniture Shop Ltd (Registered number: 02978752)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £   
CURRENT ASSETS
Stocks 14,688 16,140
Debtors 6 16,934 27,117
Cash at bank and in hand 44,898 36,152
76,520 79,409
CREDITORS
Amounts falling due within one year 7 68,307 69,204
NET CURRENT ASSETS 8,213 10,205
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,213

10,205

CREDITORS
Amounts falling due after more than
one year

8

3,484

5,684
NET ASSETS 4,729 4,521

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 4,727 4,519
4,729 4,521

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

The Gosport Furniture Shop Ltd (Registered number: 02978752)

Balance Sheet - continued
31 October 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 29 July 2024 and were signed on its behalf by:





K L White - Director


The Gosport Furniture Shop Ltd (Registered number: 02978752)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

The Gosport Furniture Shop 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.

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.

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.
Short leasehold - in accordance with the property
Fixtures & 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 balance sheet date.


The Gosport Furniture Shop Ltd (Registered number: 02978752)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 5,500
AMORTISATION
At 1 November 2022
and 31 October 2023 5,500
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

The Gosport Furniture Shop Ltd (Registered number: 02978752)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Short Fixtures Motor
leasehold & fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2022
and 31 October 2023 2,136 9,786 13,867 25,789
DEPRECIATION
At 1 November 2022
and 31 October 2023 2,136 9,786 13,867 25,789
NET BOOK VALUE
At 31 October 2023 - - - -
At 31 October 2022 - - - -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 16,934 27,117

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 2,200 2,200
Trade creditors 2,215 2,215
Taxation and social security 220 1,118
Other creditors 63,672 63,671
68,307 69,204

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 3,484 5,684

The Gosport Furniture Shop Ltd (Registered number: 02978752)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
K L White
Balance outstanding at start of year 10,000 -
Amounts advanced - 10,000
Amounts repaid (10,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,000

10. ULTIMATE CONTROLLING PARTY

The controlling party is K L White.