IRIS Accounts Production v24.2.0.383 SC253135 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2531352022-12-31SC2531352023-12-31SC2531352023-01-012023-12-31SC2531352021-12-31SC2531352022-01-012022-12-31SC2531352022-12-31SC253135ns15:Scotland2023-01-012023-12-31SC253135ns14:PoundSterling2023-01-012023-12-31SC253135ns10:Director12023-01-012023-12-31SC253135ns10:Director22023-01-012023-12-31SC253135ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC253135ns10:SmallEntities2023-01-012023-12-31SC253135ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC253135ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC253135ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC253135ns10:FullAccounts2023-01-012023-12-31SC253135ns10:Director32023-01-012023-12-31SC253135ns10:RegisteredOffice2023-01-012023-12-31SC253135ns5:CurrentFinancialInstruments2023-12-31SC253135ns5:CurrentFinancialInstruments2022-12-31SC253135ns5:Non-currentFinancialInstruments2023-12-31SC253135ns5:Non-currentFinancialInstruments2022-12-31SC253135ns5:ShareCapital2023-12-31SC253135ns5:ShareCapital2022-12-31SC253135ns5:SharePremium2023-12-31SC253135ns5:SharePremium2022-12-31SC253135ns5:RetainedEarningsAccumulatedLosses2023-12-31SC253135ns5:RetainedEarningsAccumulatedLosses2022-12-31SC253135ns5:LeaseholdImprovements2023-01-012023-12-31SC253135ns5:PlantMachinery2023-01-012023-12-31SC253135ns5:FurnitureFittings2023-01-012023-12-31SC253135ns5:MotorVehicles2023-01-012023-12-31SC253135ns5:ComputerEquipment2023-01-012023-12-31SC253135ns5:LeaseholdImprovements2022-12-31SC253135ns5:PlantMachinery2022-12-31SC253135ns5:FurnitureFittings2022-12-31SC253135ns5:LeaseholdImprovements2023-12-31SC253135ns5:PlantMachinery2023-12-31SC253135ns5:FurnitureFittings2023-12-31SC253135ns5:LeaseholdImprovements2022-12-31SC253135ns5:PlantMachinery2022-12-31SC253135ns5:FurnitureFittings2022-12-31SC253135ns5:MotorVehicles2022-12-31SC253135ns5:ComputerEquipment2022-12-31SC253135ns5:MotorVehicles2023-12-31SC253135ns5:ComputerEquipment2023-12-31SC253135ns5:MotorVehicles2022-12-31SC253135ns5:ComputerEquipment2022-12-31SC253135ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31SC253135ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: SC253135 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CHARLOTTE JAMES FURNITURE LIMITED

CHARLOTTE JAMES FURNITURE LIMITED (REGISTERED NUMBER: SC253135)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CHARLOTTE JAMES FURNITURE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R Dempster
A Dempster
S Dempster





REGISTERED OFFICE: 7A Main Street
Pentland Industrial Estate
Edinburgh
EH20 9QR





REGISTERED NUMBER: SC253135 (Scotland)





ACCOUNTANTS: MacDonald Morton Ltd
Chartered Accountants
67 March Road
Edinburgh
EH4 3SU

CHARLOTTE JAMES FURNITURE LIMITED (REGISTERED NUMBER: SC253135)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 234,011 211,103

CURRENT ASSETS
Stocks 187,594 315,593
Debtors 5 38,037 32,295
Cash at bank and in hand 322,517 665,225
548,148 1,013,113
CREDITORS
Amounts falling due within one year 6 585,355 886,365
NET CURRENT (LIABILITIES)/ASSETS (37,207 ) 126,748
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,804

337,851

CREDITORS
Amounts falling due after more than one year 7 (25,757 ) (43,939 )

PROVISIONS FOR LIABILITIES (58,503 ) (52,776 )
NET ASSETS 112,544 241,136

CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Share premium 2,400 2,400
Retained earnings 109,044 237,636
SHAREHOLDERS' FUNDS 112,544 241,136

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 directors acknowledge their 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.

CHARLOTTE JAMES FURNITURE LIMITED (REGISTERED NUMBER: SC253135)

STATEMENT OF FINANCIAL POSITION - 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 Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:




R Dempster - Director



A Dempster - Director


CHARLOTTE JAMES FURNITURE LIMITED (REGISTERED NUMBER: SC253135)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Charlotte James Furniture Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Charlotte James Furniture Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
The directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant, actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Key accounting judgements include:

The Company undertakes manufacturing contracts which take place over a period of time and revenue and profits are recognised as the contracts progress. The extent to which the contract revenue and profits have been earned involve estimating a percentage of completion under ongoing contracts which is based on costs incurred as a proportion of total estimated costs. Management base this assessment on detailed costings and progress reports and their experience of similar contracts in the past. Adjustments are made to reflect any after date events which have a significant impact on the final outcomes expected to be achieved on contracts.

Turnover
Revenue comprises the fair value of the sale of goods and services, net of value added tax, rebates and discounts.

Sale of goods
Sales of goods are recognised when the company has delivered products to the customer, the customer has accepted the products and collectability of the related receivables is fairly assured.

Sale of services
Service revenues are recognised as those services are provided to customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 20% on reducing balance
Office equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance

CHARLOTTE JAMES FURNITURE LIMITED (REGISTERED NUMBER: SC253135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Stocks
Raw material stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less selling costs.

Finished goods stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds the following basic financial instruments.

Financial assets
Cash and cash equivalents - comprise cash in hand and deposits held with banks.

Trade and other debtors - are initially measured at the undiscounted amounts receivable from a customer, which is normally the invoiced price. Trade and other debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found an impairment loss is recognised.

Financial liabilities
Trade and other creditors - are initially measured at the transaction price, including any transaction costs, and are subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount expected to be payable. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of the future payments, discounted at a market rate of interest.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

CHARLOTTE JAMES FURNITURE LIMITED (REGISTERED NUMBER: SC253135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 40 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Office
property machinery equipment
£    £    £   
COST
At 1 January 2023 81,426 216,936 39,382
Additions - 11,710 730
Disposals - - -
At 31 December 2023 81,426 228,646 40,112
DEPRECIATION
At 1 January 2023 24,210 130,488 27,848
Charge for year 6,299 18,279 2,450
Eliminated on disposal - - -
At 31 December 2023 30,509 148,767 30,298
NET BOOK VALUE
At 31 December 2023 50,917 79,879 9,814
At 31 December 2022 57,216 86,448 11,534

Fixtures
Motor and
vehicles fittings Totals
£    £    £   
COST
At 1 January 2023 109,631 29,670 477,045
Additions 66,934 133 79,507
Disposals (42,545 ) - (42,545 )
At 31 December 2023 134,020 29,803 514,007
DEPRECIATION
At 1 January 2023 59,120 24,276 265,942
Charge for year 20,364 1,104 48,496
Eliminated on disposal (34,442 ) - (34,442 )
At 31 December 2023 45,042 25,380 279,996
NET BOOK VALUE
At 31 December 2023 88,978 4,423 234,011
At 31 December 2022 50,511 5,394 211,103

CHARLOTTE JAMES FURNITURE LIMITED (REGISTERED NUMBER: SC253135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 160 3,123
Amounts owed by participating interests 2,000 -
Other debtors 35,877 29,172
38,037 32,295

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 18,182 18,182
Payments on account 266,255 545,953
Trade creditors 136,124 87,706
Amounts owed to group undertakings 4,921 -
Taxation and social security 118,303 92,969
Other creditors 41,570 141,555
585,355 886,365

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 25,757 43,939

8. OTHER FINANCIAL COMMITMENTS

Total amount of financial commitments is £177,500 (2022: £266,250) in respect of rent for the company's premises.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Charlotte James Holdings Ltd.