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REGISTERED NUMBER: 05318410 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Furnicon Limited

Furnicon Limited (Registered number: 05318410)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Furnicon Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: N Amos





SECRETARY:





REGISTERED OFFICE: Horley Green House
Horley Green Road
Claremount
Halifax
West Yorkshire
HX3 6AS





REGISTERED NUMBER: 05318410 (England and Wales)





ACCOUNTANTS: Horley Green Chartered Accountants
Horley Green House
Horley Green Road
Claremount
Halifax
West Yorkshire
HX3 6AS

Furnicon Limited (Registered number: 05318410)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 79,882 99,802
79,882 99,802

CURRENT ASSETS
Stocks 16,000 16,000
Debtors 6 65,561 126,515
Cash at bank 126,284 48,463
207,845 190,978
CREDITORS
Amounts falling due within one year 7 152,196 142,967
NET CURRENT ASSETS 55,649 48,011
TOTAL ASSETS LESS CURRENT
LIABILITIES

135,531

147,813

CREDITORS
Amounts falling due after more than one year 8 (23,788 ) (33,788 )

PROVISIONS FOR LIABILITIES 9 (13,846 ) (15,217 )
NET ASSETS 97,897 98,808

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 97,896 98,807
SHAREHOLDERS' FUNDS 97,897 98,808

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Furnicon Limited (Registered number: 05318410)

Balance Sheet - continued
31 December 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 director and authorised for issue on 5 September 2024 and were signed by:





N Amos - Director


Furnicon Limited (Registered number: 05318410)

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


1. STATUTORY INFORMATION

Furnicon Limited 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 represents the net amount receivable for goods supplied and services provided, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

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.
Plant & Machinery - 25% on reducing balance
Fixture & Fittings - 15% on reducing balance
Motor Vehicles - 25% Reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Furnicon Limited (Registered number: 05318410)

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


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 21,458
AMORTISATION
At 1 January 2023
and 31 December 2023 21,458
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant & Fixture & Motor
Machinery Fittings Vehicles Totals
£    £    £    £   
COST
At 1 January 2023 268,776 4,798 51,220 324,794
Additions - - 6,590 6,590
At 31 December 2023 268,776 4,798 57,810 331,384
DEPRECIATION
At 1 January 2023 191,453 3,929 29,610 224,992
Charge for year 19,330 130 7,050 26,510
At 31 December 2023 210,783 4,059 36,660 251,502
NET BOOK VALUE
At 31 December 2023 57,993 739 21,150 79,882
At 31 December 2022 77,323 869 21,610 99,802

Furnicon Limited (Registered number: 05318410)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade Debtors 62,661 121,345
Other Debtors 213 1,425
Tax 687 1,745
Prepayments 2,000 2,000
65,561 126,515

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade Creditors 27,257 46,351
Tax 1,158 -
Social Security & Other Taxes 3,114 1,555
VAT 10,999 12,355
Other Creditors 9,977 -
Directors Loan Account 98,191 81,206
Accrued Expenses 1,500 1,500
152,196 142,967

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 23,788 33,788

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 13,846 15,217

Deferred
tax
£   
Balance at 1 January 2023 15,217
Deferred Tax (1,371 )
Balance at 31 December 2023 13,846

10. RELATED PARTY DISCLOSURES

The company is controlled by Mr N Amos.