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REGISTERED NUMBER: 02039174 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

B & C FURNITURE (TRADE SURPLUS) LIMITED

B & C FURNITURE (TRADE SURPLUS) LIMITED (REGISTERED NUMBER: 02039174)






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


B & C FURNITURE (TRADE SURPLUS) LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: B C Shacklady





SECRETARY: B C Shacklady





REGISTERED OFFICE: Unit 2
Woodhouse Drive
Wigan
Lancashire
WN6 7NT





REGISTERED NUMBER: 02039174 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

B & C FURNITURE (TRADE SURPLUS) LIMITED (REGISTERED NUMBER: 02039174)

STATEMENT OF FINANCIAL POSITION
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,042 11,846

CURRENT ASSETS
Stocks 39,061 31,636
Debtors 5 4,274 7,018
Cash at bank 106,960 125,579
150,295 164,233
CREDITORS
Amounts falling due within one year 6 25,513 48,544
NET CURRENT ASSETS 124,782 115,689
TOTAL ASSETS LESS CURRENT
LIABILITIES

135,824

127,535

PROVISIONS FOR LIABILITIES 323 321
NET ASSETS 135,501 127,214

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 7 135,499 127,212
SHAREHOLDERS' FUNDS 135,501 127,214

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.

B & C FURNITURE (TRADE SURPLUS) LIMITED (REGISTERED NUMBER: 02039174)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 September 2024 and were signed by:





B C Shacklady - Director


B & C FURNITURE (TRADE SURPLUS) LIMITED (REGISTERED NUMBER: 02039174)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

B & C Furniture (Trade Surplus) 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.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover
Turnover represents the net invoice value of goods sold, excluding value added tax. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the customer, which is usually at the point when the customer receives the goods.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Improvements to property - 2% on cost
Plant & machinery - 15% reducing balance
Fixtures & fittings - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 33% reducing balance

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments
The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments.

The following assets and liabilities are classified as financial instruments; trade debtors, directors' loan accounts, bank accounts, trade creditors and accruals.

Financial instruments are all payable or receivable within one year and are initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received.

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.


B & C FURNITURE (TRADE SURPLUS) LIMITED (REGISTERED NUMBER: 02039174)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 36,894
DEPRECIATION
At 1 January 2023 25,048
Charge for year 804
At 31 December 2023 25,852
NET BOOK VALUE
At 31 December 2023 11,042
At 31 December 2022 11,846

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,971 4,554
Other debtors 2,303 2,464
4,274 7,018

B & C FURNITURE (TRADE SURPLUS) LIMITED (REGISTERED NUMBER: 02039174)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 8,796 7,680
Taxation and social security 3,330 8,556
Other creditors 13,387 32,308
25,513 48,544

7. RESERVES
Retained
earnings
£   

At 1 January 2023 127,212
Profit for the year 8,287
At 31 December 2023 135,499