Registered number
11584466
Homeflair Furniture Ltd
Filleted Accounts
30 September 2023
Homeflair Furniture Ltd
Registered number: 11584466
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,977 1,478
Current assets
Stocks 437,502 432,848
Debtors 4 - 23,453
Cash at bank and in hand 9,934 1,806
447,436 458,107
Creditors: amounts falling due within one year 5 (285,469) (248,712)
Net current assets 161,967 209,395
Total assets less current liabilities 163,944 210,873
Creditors: amounts falling due after more than one year 6 (121,536) (173,544)
Net assets 42,408 37,329
Capital and reserves
Called up share capital 1 1
Profit and loss account 42,407 37,328
Shareholder's funds 42,408 37,329
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Hanif Khan
Director
Approved by the board on 10 June 2024
Homeflair Furniture Ltd
Notes to the Accounts
for the year ended 30 September 2023
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2022 173 3,417 3,590
Additions 1,210 - 1,210
At 30 September 2023 1,383 3,417 4,800
Depreciation
At 1 October 2022 70 2,042 2,112
Charge for the year 262 449 711
At 30 September 2023 332 2,491 2,823
Net book value
At 30 September 2023 1,051 926 1,977
At 30 September 2022 103 1,375 1,478
4 Debtors 2023 2022
£ £
Trade debtors - 23,453
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,122 -
Trade creditors 234,271 200,248
Taxation and social security costs 36,417 36,588
Other creditors 11,659 11,876
285,469 248,712
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 102,237 145,866
Other creditors 19,299 27,678
121,536 173,544
7 Other information
Homeflair Furniture Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Parkgate Complex Unit 4
Rawmarsh Road
Rotherham
S60 1RZ
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