1 August 2022 false No description of principal activity Taxfiler 2024.5 05871945business:PrivateLimitedCompanyLtd2022-08-012023-07-31 058719452022-07-31 058719452022-08-012023-07-31 05871945business:AuditExempt-NoAccountantsReport2022-08-012023-07-31 05871945business:FilletedAccounts2022-08-012023-07-31 058719452023-07-31 05871945business:Director12022-08-012023-07-31 05871945business:Director22022-08-012023-07-31 05871945business:CompanySecretary12022-08-012023-07-31 05871945business:RegisteredOffice2022-08-012023-07-31 058719452022-07-31 05871945core:WithinOneYear2023-07-31 05871945core:WithinOneYear2022-07-31 05871945core:AfterOneYear2023-07-31 05871945core:AfterOneYear2022-07-31 05871945core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 05871945core:ShareCapitalcore:PreviouslyStatedAmount2022-07-31 05871945core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 05871945core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-07-31 05871945core:PreviouslyStatedAmount2023-07-31 05871945core:PreviouslyStatedAmount2022-07-31 05871945business:SmallEntities2022-08-012023-07-31 05871945countries:EnglandWales2022-08-012023-07-31 05871945core:MotorVehicles2022-08-012023-07-31 05871945core:FurnitureFittings2022-08-012023-07-31 05871945core:ComputerEquipment2022-08-012023-07-31 05871945core:PlantMachinery2022-07-31 05871945core:MotorVehicles2022-07-31 05871945core:FurnitureFittings2022-07-31 05871945core:ComputerEquipment2022-07-31 05871945core:PlantMachinery2022-08-012023-07-31 05871945core:PlantMachinery2023-07-31 05871945core:MotorVehicles2023-07-31 05871945core:FurnitureFittings2023-07-31 05871945core:ComputerEquipment2023-07-31 05871945core:WithinOneYear2022-08-012023-07-31 05871945core:AfterOneYear2022-08-012023-07-31 05871945business:OrdinaryShareClass12022-08-012023-07-31 05871945business:OrdinaryShareClass12021-08-012022-07-31 058719452021-08-012022-07-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 05871945 (England and Wales)
K 1 FURNISHINGS LTD Unaudited accounts for the year ended 31 July 2023
K 1 FURNISHINGS LTD Unaudited accounts Contents
Page
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K 1 FURNISHINGS LTD Company Information for the year ended 31 July 2023
Directors
Moshe Chaim Klien Berel Futerfas
Secretary
Mrs N Futerfas
Company Number
05871945 (England and Wales)
Registered Office
61 MILLMARSH LANE ENFIELD EN3 7UY ENGLAND
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K 1 FURNISHINGS LTD Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
16,390 
21,576 
Current assets
Inventories
257,000 
272,000 
Debtors
277,003 
280,447 
Cash at bank and in hand
32,449 
7,719 
566,452 
560,166 
Creditors: amounts falling due within one year
(497,150)
(489,846)
Net current assets
69,302 
70,320 
Total assets less current liabilities
85,692 
91,896 
Creditors: amounts falling due after more than one year
(36,496)
(43,552)
Net assets
49,196 
48,344 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
49,194 
48,342 
Shareholders' funds
49,196 
48,344 
For the year ending 31 July 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by
Moshe Chaim Klien Director Company Registration No. 05871945
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K 1 FURNISHINGS LTD Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
K 1 FURNISHINGS LTD is a private company, limited by shares, registered in England and Wales, registration number 05871945. The registered office is 61 MILLMARSH LANE, ENFIELD, EN3 7UY, ENGLAND.
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.
Presentation currency
The accounts are presented in £ sterling.
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:
Motor vehicles
25%
Fixtures & fittings
20%
Computer equipment
25%
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 August 2022
1,591 
63,083 
3,000 
2,507 
70,181 
Additions
345 
- 
- 
- 
345 
At 31 July 2023
1,936 
63,083 
3,000 
2,507 
70,526 
Depreciation
At 1 August 2022
398 
44,097 
2,017 
2,093 
48,605 
Charge for the year
484 
4,747 
197 
103 
5,531 
At 31 July 2023
882 
48,844 
2,214 
2,196 
54,136 
Net book value
At 31 July 2023
1,054 
14,239 
786 
311 
16,390 
At 31 July 2022
1,193 
18,986 
983 
414 
21,576 
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K 1 FURNISHINGS LTD Notes to the Accounts for the year ended 31 July 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
258,054 
267,698 
Other debtors
18,949 
12,749 
277,003 
280,447 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
1,666 
1,666 
Trade creditors
86,686 
149,712 
Taxes and social security
28,418 
21,420 
Other creditors
379,080 
315,548 
Accruals
1,300 
1,500 
497,150 
489,846 
Included in creditors is an amount of £63,000 due to a company which one of its directors is also a director of this company. The loan is interest free and repayable on demand.
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
36,496 
43,552 
The amount due in more than one year is in respect of a loan received under the Bounce back loan scheme.
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Transactions with related parties
Other creditors include loans made by the Directors to the company.
10
Average number of employees
During the year the average number of employees was 7 (2022: 7).
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