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
K 1 FURNISHINGS LTD
Company Information
for the year ended 31 July 2023
Directors
Moshe Chaim Klien
Berel Futerfas
Company Number
05871945 (England and Wales)
Registered Office
61 MILLMARSH LANE
ENFIELD
EN3 7UY
ENGLAND
K 1 FURNISHINGS LTD
Statement of financial position
as at 31 July 2023
Tangible assets
16,390
21,576
Inventories
257,000
272,000
Cash at bank and in hand
32,449
7,719
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)
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
K 1 FURNISHINGS LTD
Notes to the Accounts
for the year ended 31 July 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
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
At 31 July 2023
1,936
63,083
3,000
2,507
70,526
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
At 31 July 2023
1,054
14,239
786
311
16,390
At 31 July 2022
1,193
18,986
983
414
21,576
K 1 FURNISHINGS LTD
Notes to the Accounts
for the year ended 31 July 2023
Amounts falling due within one year
Trade debtors
258,054
267,698
Other debtors
18,949
12,749
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
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
The amount due in more than one year is in respect of a loan received under the Bounce back loan scheme.
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).