Company registration number 12945833 (England and Wales)
TABILO FURNITURE HOLDINGS LTD
Unaudited Financial Statements
for the Year Ended 31 December 2023
TABILO FURNITURE HOLDINGS LTD
Contents
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 5
TABILO FURNITURE HOLDINGS LTD
Company Information
- 1 -
Directors
Mr N Simpson
Mrs L V Simpson
Mr M Simpson
Mrs J Simpson
Company number
12945833
Registered office
Unit 85
Mochdre Industrial Estate
Newtown
Powys
SY16 4LE
Accountants
RCH Accountants Limited
Wellfield House
Temple Street
Llandrindod Wells
Powys
LD1 5HG
TABILO FURNITURE HOLDINGS LTD
Balance Sheet
As at 31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
775,000
775,000
Current assets
Cash at bank and in hand
1,000
1,000
Creditors: amounts falling due within one year
5
(398,346)
(406,806)
Net current liabilities
(397,346)
(405,806)
Total assets less current liabilities
377,654
369,194
Provisions for liabilities
(89,301)
(67,868)
Net assets
288,353
301,326
Capital and reserves
Called up share capital
1,000
1,000
Revaluation reserve
267,901
289,334
Profit and loss reserves
19,452
10,992
Total equity
288,353
301,326

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 25 September 2024 and are signed on its behalf by:
Mr M Simpson
Director
Company registration number 12945833 (England and Wales)
TABILO FURNITURE HOLDINGS LTD
Notes to the Financial Statements
For the Year Ended 31 December 2023
- 3 -
1
Accounting policies
Company information

Tabilo Furniture Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 85, Mochdre Industrial Estate, Newtown, Powys, SY16 4LE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

TABILO FURNITURE HOLDINGS LTD
Notes to the Financial Statements
For the Year Ended 31 December 2023
1
Accounting policies
- 4 -
1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
TABILO FURNITURE HOLDINGS LTD
Notes to the Financial Statements
For the Year Ended 31 December 2023
- 5 -
4
Tangible fixed assets
Freehold land and buildings
£
Cost
At 1 January 2023 and 31 December 2023
775,000
Depreciation and impairment
At 1 January 2023 and 31 December 2023
-
0
Carrying amount
At 31 December 2023
775,000
At 31 December 2022
775,000
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
397,806
406,278
Accruals and deferred income
540
528
398,346
406,806
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