Company Registration No. 12100093 (England and Wales)
Broski Furniture Ltd
Unaudited accounts
for the year ended 31 July 2024
Broski Furniture Ltd
Unaudited accounts
Contents
Broski Furniture Ltd
Company Information
for the year ended 31 July 2024
Company Number
12100093 (England and Wales)
Registered Office
214 Baker Street
Enfield
EN1 3JT
England
Accountants
DNG Associates
214 Baker Street
Enfield
London
EN1 3JT
Broski Furniture Ltd
Statement of financial position
as at 31 July 2024
Tangible assets
36,985
37,701
Cash at bank and in hand
4,791
12,012
Creditors: amounts falling due within one year
(344,595)
(310,437)
Net current liabilities
(133,633)
(141,915)
Net liabilities
(96,648)
(104,214)
Called up share capital
100
100
Profit and loss account
(96,748)
(104,314)
Shareholders' funds
(96,648)
(104,214)
For the year ending 31 July 2024 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 September 2024 and were signed on its behalf by
Mr O Odemis
Director
Company Registration No. 12100093
Broski Furniture Ltd
Notes to the Accounts
for the year ended 31 July 2024
Broski Furniture Ltd is a private company, limited by shares, registered in England and Wales, registration number 12100093. The registered office is 214 Baker Street, Enfield, EN1 3JT, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% - reducing balance method
Fixtures & fittings
18% - reducing balance method
Computer equipment
18% - reducing balance method
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period.
Broski Furniture Ltd
Notes to the Accounts
for the year ended 31 July 2024
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2023
34,167
19,719
3,150
57,036
At 31 July 2024
34,167
27,654
3,150
64,971
At 1 August 2023
12,300
5,538
1,497
19,335
Charge for the year
4,373
3,981
297
8,651
At 31 July 2024
16,673
9,519
1,794
27,986
At 31 July 2024
17,494
18,135
1,356
36,985
At 31 July 2023
21,867
14,181
1,653
37,701
Amounts falling due within one year
Accrued income and prepayments
-
1,289
Other debtors
148,221
87,221
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
807
-
Loans from directors
286,464
285,834
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Transactions with related parties
Included within other creditors is an amount of £286,464 (2023: £285,834) due to the director of the company. There are no terms as to interest or repayment in respect of this balance.
9
Average number of employees
During the year the average number of employees was 5 (2023: 7).