Lancashire Upholstery Ltd 05906491 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is The principal activity of the company during the year was that of re-upholstery. Digita Accounts Production Advanced 6.30.9574.0 true 05906491 2023-02-01 2024-01-31 05906491 2024-01-31 05906491 core:RetainedEarningsAccumulatedLosses 2024-01-31 05906491 core:ShareCapital 2024-01-31 05906491 core:CurrentFinancialInstruments 2024-01-31 05906491 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 05906491 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 05906491 core:FurnitureFittings 2024-01-31 05906491 core:MotorVehicles 2024-01-31 05906491 bus:SmallEntities 2023-02-01 2024-01-31 05906491 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 05906491 bus:FullAccounts 2023-02-01 2024-01-31 05906491 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05906491 bus:RegisteredOffice 2023-02-01 2024-01-31 05906491 bus:CompanySecretaryDirector1 2023-02-01 2024-01-31 05906491 bus:Director1 2023-02-01 2024-01-31 05906491 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05906491 bus:Agent1 2023-02-01 2024-01-31 05906491 core:FurnitureFittings 2023-02-01 2024-01-31 05906491 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 05906491 core:MotorVehicles 2023-02-01 2024-01-31 05906491 countries:EnglandWales 2023-02-01 2024-01-31 05906491 2023-01-31 05906491 core:FurnitureFittings 2023-01-31 05906491 core:MotorVehicles 2023-01-31 05906491 2022-02-01 2023-01-31 05906491 2023-01-31 05906491 core:RetainedEarningsAccumulatedLosses 2023-01-31 05906491 core:ShareCapital 2023-01-31 05906491 core:CurrentFinancialInstruments 2023-01-31 05906491 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 05906491 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 05906491 core:FurnitureFittings 2023-01-31 05906491 core:MotorVehicles 2023-01-31 iso4217:GBP xbrli:pure

Company registration number: 05906491

Lancashire Upholstery Ltd

Filleted Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Lancashire Upholstery Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 7

 

Lancashire Upholstery Ltd

Company Information

Directors

Mr P D Baker

Mrs D A Owen-Baker

Company secretary

Mrs D A Owen-Baker

Registered office

69 Ashton Road
Birkdale
Southport
Merseyside
PR8 4QF

Accountants

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Lancashire Upholstery Ltd
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lancashire Upholstery Ltd for the year ended 31 January 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Lancashire Upholstery Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Lancashire Upholstery Ltd and state those matters that we have agreed to state to the Board of Directors of Lancashire Upholstery Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lancashire Upholstery Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lancashire Upholstery Ltd 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 of Lancashire Upholstery Ltd. You consider that Lancashire Upholstery Ltd 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 Lancashire Upholstery Ltd. 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 statutory accounts.

......................................

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

13 August 2024

 

Lancashire Upholstery Ltd

(Registration number: 05906491)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,656

4,876

Current assets

 

Stocks

2,700

2,600

Debtors

5

1,288

1,805

Cash at bank and in hand

 

4,053

3,507

 

8,041

7,912

Creditors: Amounts falling due within one year

6

(5,960)

(5,328)

Net current assets

 

2,081

2,584

Total assets less current liabilities

 

5,737

7,460

Creditors: Amounts falling due after more than one year

6

(3,472)

(5,468)

Provisions for liabilities

(695)

(926)

Net assets

 

1,570

1,066

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

570

66

Shareholders' funds

 

1,570

1,066

For the financial year ending 31 January 2024 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 13 August 2024 and signed on its behalf by:
 

 

Lancashire Upholstery Ltd

(Registration number: 05906491)
Balance Sheet as at 31 January 2024

.........................................
Mr P D Baker
Director

   
     
 

Lancashire Upholstery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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:
69 Ashton Road
Birkdale
Southport
Merseyside
PR8 4QF

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. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Revenue comprises the fair value of the sale of goods and services net of rebates and discounts.
Sales of goods are recognised when the company has delivered the goods to the customer.

Deferred Tax

Deferred tax is provided in full in respect of taxation deferred by timing differences between the
treatment of certain items for taxation and accounting purposes. The deferred tax has not been
discounted.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Fixtures, fittings and equipment

25% reducing balance

 

Lancashire Upholstery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Motor vehicles

25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and
sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing
the stock to its present location and condition.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

2,086

10,995

13,081

At 31 January 2024

2,086

10,995

13,081

Depreciation

At 1 February 2023

1,848

6,357

8,205

Charge for the year

60

1,160

1,220

At 31 January 2024

1,908

7,517

9,425

Carrying amount

At 31 January 2024

178

3,478

3,656

At 31 January 2023

238

4,638

4,876

 

Lancashire Upholstery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Debtors

2024
£

2023
£

Trade debtors

1,200

1,598

Other debtors

88

207

1,288

1,805

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

2,042

2,086

Corporation tax

 

2,046

1,419

Other creditors

 

1,872

1,823

 

5,960

5,328

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

3,472

5,468