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Registered number: 11122266
Elstree Fitted Wardrobes Limited
Financial Statements
For The Year Ended 31 December 2023
Apple Accountancy Services Limited
Chartered Certified Accountants
146 Manor Way
Borehamwood
Hertfordshire
WD6 1QX
Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Elstree Fitted Wardrobes Limited For The Year Ended 31 December 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Elstree Fitted Wardrobes Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Elstree Fitted Wardrobes Limited , as a body, in accordance with the terms of our engagement letter dated 01 April 2019. Our work has been undertaken solely to prepare for your approval the accounts of Elstree Fitted Wardrobes Limited and state those matters that we have agreed to state to the directors of Elstree Fitted Wardrobes Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elstree Fitted Wardrobes Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Elstree Fitted Wardrobes Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Elstree Fitted Wardrobes Limited . You consider that Elstree Fitted Wardrobes Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Elstree Fitted Wardrobes Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
8th August 2024
Apple Accountancy Services Limited
Chartered Certified Accountants
146 Manor Way
Borehamwood
Hertfordshire
WD6 1QX
Page 1
Page 2
Balance Sheet
Registered number: 11122266
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,306 13,065
21,306 13,065
CURRENT ASSETS
Stocks 2,569 3,500
Debtors 1,349 1,310
Cash at bank and in hand 32,690 35,499
36,608 40,309
Creditors: Amounts Falling Due Within One Year (23,717 ) (15,985 )
NET CURRENT ASSETS (LIABILITIES) 12,891 24,324
TOTAL ASSETS LESS CURRENT LIABILITIES 34,197 37,389
NET ASSETS 34,197 37,389
CAPITAL AND RESERVES
Called up share capital 2 2
Profit and Loss Account 34,195 37,387
SHAREHOLDERS' FUNDS 34,197 37,389
Page 2
Page 3
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Terry Carder
Director
Mr David Carder
Director
8th August 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Elstree Fitted Wardrobes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11122266 . The registered office is 146 Manor Way, Borehamwood, Hertfordshire, WD6 1QX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% Reducing balance
Fixtures & Fittings 20% Reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
Page 4
Page 5
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 27,164 196 27,360
Additions 14,567 - 14,567
Disposals (2,439 ) - (2,439 )
As at 31 December 2023 39,292 196 39,488
Depreciation
As at 1 January 2023 14,159 136 14,295
Provided during the period 5,315 12 5,327
Disposals (1,440 ) - (1,440 )
As at 31 December 2023 18,034 148 18,182
Net Book Value
As at 31 December 2023 21,258 48 21,306
As at 1 January 2023 13,005 60 13,065
Page 5