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Company Registration No. 08367780 (England and Wales)
Furnish Interior Design Ltd Unaudited accounts for the year ended 31 January 2024
Furnish Interior Design Ltd Unaudited accounts Contents
Page
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Furnish Interior Design Ltd Company Information for the year ended 31 January 2024
Director
Daniel Cook
Company Number
08367780 (England and Wales)
Registered Office
Unit 6b Spillmans Court Middle Spillmans Rodborough Stroud GL5 3RU
Accountants
Louise Newman and co Ltd 2 Bath Mews Bath Parade Cheltenham Gloucestershire GL53 7HL
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Furnish Interior Design Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
426 
1,184 
Current assets
Inventories
4,436 
4,436 
Debtors
1,674 
6,798 
Cash at bank and in hand
39,254 
56,432 
45,364 
67,666 
Creditors: amounts falling due within one year
(23,185)
(19,996)
Net current assets
22,179 
47,670 
Total assets less current liabilities
22,605 
48,854 
Creditors: amounts falling due after more than one year
(14,981)
(34,680)
Net assets
7,624 
14,174 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
6,624 
13,174 
Shareholders' funds
7,624 
14,174 
For the year ending 31 January 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 7 October 2024 and were signed on its behalf by
Daniel Cook Director Company Registration No. 08367780
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Furnish Interior Design Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Furnish Interior Design Ltd is a private company, limited by shares, registered in England and Wales, registration number 08367780. The registered office is Unit 6b Spillmans Court, Middle Spillmans, Rodborough, Stroud, GL5 3RU.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
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.
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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:
Plant & machinery
25% Cost
Fixtures & fittings
25% Cost
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Furnish Interior Design Ltd Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
973 
2,985 
3,958 
Additions
- 
131 
131 
At 31 January 2024
973 
3,116 
4,089 
Depreciation
At 1 February 2023
692 
2,082 
2,774 
Charge for the year
243 
646 
889 
At 31 January 2024
935 
2,728 
3,663 
Net book value
At 31 January 2024
38 
388 
426 
At 31 January 2023
281 
903 
1,184 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
558 
Accrued income and prepayments
104 
104 
Other debtors
1,570 
3,615 
1,674 
4,277 
Amounts falling due after more than one year
Other debtors
- 
2,521 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
- 
VAT
5,641 
7,140 
Taxes and social security
2,658 
4,578 
Other creditors
360 
925 
Loans from directors
3,526 
6,478 
Accruals
1,000 
875 
23,185 
19,996 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
14,981 
34,680 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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