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Company No: 04718079 (England and Wales)

THE DORMY HOUSE FURNITURE AND SOFT FURNISHINGS LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

THE DORMY HOUSE FURNITURE AND SOFT FURNISHINGS LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

THE DORMY HOUSE FURNITURE AND SOFT FURNISHINGS LTD

COMPANY INFORMATION

For the financial year ended 31 March 2024
THE DORMY HOUSE FURNITURE AND SOFT FURNISHINGS LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Mrs A F B R Trinder
Mr G M Trinder
REGISTERED OFFICE 27a Walworth Business Park
Andover
SP10 5LH
United Kingdom
COMPANY NUMBER 04718079 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
THE DORMY HOUSE FURNITURE AND SOFT FURNISHINGS LTD

BALANCE SHEET

As at 31 March 2024
THE DORMY HOUSE FURNITURE AND SOFT FURNISHINGS LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,390,360 1,347,426
1,390,360 1,347,426
Current assets
Stocks 184,486 0
Debtors 4 74,071 406,477
Cash at bank and in hand 479,820 322,032
738,377 728,509
Creditors: amounts falling due within one year 5 ( 1,036,987) ( 860,678)
Net current liabilities (298,610) (132,169)
Total assets less current liabilities 1,091,750 1,215,257
Creditors: amounts falling due after more than one year 6 ( 385,632) ( 431,532)
Provision for liabilities ( 125,249) ( 120,604)
Net assets 580,869 663,121
Capital and reserves
Called-up share capital 524 524
Revaluation reserve 461,790 461,790
Capital redemption reserve 676 676
Profit and loss account 117,879 200,131
Total shareholders' funds 580,869 663,121

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Dormy House Furniture and Soft Furnishings Ltd (registered number: 04718079) were approved and authorised for issue by the Board of Directors on 17 September 2024. They were signed on its behalf by:

Mrs A F B R Trinder
Director
THE DORMY HOUSE FURNITURE AND SOFT FURNISHINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
THE DORMY HOUSE FURNITURE AND SOFT FURNISHINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Dormy House Furniture and Soft Furnishings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 27a Walworth Business Park, Andover, SP10 5LH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The company premises were destroyed by a fire shortly before the last accounting year end, which has significantly impacted the operations of the company.

The company insurers have accepted the claim made by the company, and material payments from them have been received during this accounting year.

The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. These financial statements are therefore prepared on a going concern basis.

Turnover

Turnover represents the value of goods sold during the year, net of Value added tax and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Uninvoiced deliveries at the year end are included in accrued income. Invoiced deliveries are included in debtors. Where customers pay in advance for goods, the amount is recorded as deferred income until the goods have been delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings not depreciated
Leasehold improvements not depreciated
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 23

3. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Vehicles Office equipment Total
£ £ £ £ £ £
Cost
At 01 April 2023 1,325,000 0 0 45,495 0 1,370,495
Additions 0 12,845 43,031 0 1,812 57,688
At 31 March 2024 1,325,000 12,845 43,031 45,495 1,812 1,428,183
Accumulated depreciation
At 01 April 2023 0 0 0 23,069 0 23,069
Charge for the financial year 0 1,285 7,636 5,607 226 14,754
At 31 March 2024 0 1,285 7,636 28,676 226 37,823
Net book value
At 31 March 2024 1,325,000 11,560 35,395 16,819 1,586 1,390,360
At 31 March 2023 1,325,000 0 0 22,426 0 1,347,426

4. Debtors

2024 2023
£ £
Trade debtors 5,290 624
Prepayments 11,315 5,053
Corporation tax 5,688 0
Other debtors 51,778 400,800
74,071 406,477

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 157,118 169,555
Trade creditors 46,829 23,060
Amounts owed to directors 2,633 5,848
Accruals 4,678 4,500
Taxation and social security 10,275 57,832
Obligations under finance leases and hire purchase contracts 26,600 26,600
Other creditors 788,854 573,283
1,036,987 860,678

The above bank loans of £157,118 (2023- £169,555) are secured on the company assets.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 378,982 398,282
Obligations under finance leases and hire purchase contracts 6,650 33,250
385,632 431,532

The above bank loans of £378,982 (2023- £398,282) are secured on the company assets.

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 27,700 0
between one and five years 110,800 0
after five years 110,800 0
249,300 0