Company registration number 09966239 (England and Wales)
Office & Educational Furniture Limited
Annual report and unaudited financial statements
For the year ended 31 January 2024
Pages for filing with registrar
Office & Educational Furniture Limited
Company information
Director
D A Hinsley
Company number
09966239
Registered office
28 Pigeon Lane
Herne Bay
Kent
CT6 7EH
Accountants
Lilley & Co.
125 John Wilson Business Park
Chestfield
Whitstable
Kent
CT5 3QT
Business address
28 Pigeon Lane
Herne Bay
Kent
CT6 7EH
Office & Educational Furniture Limited
Contents
Page
Director's report
1
Balance sheet
2
Notes to the financial statements
3 - 5
Office & Educational Furniture Limited
Director's report
For the year ended 31 January 2024
- 1 -

The director presents his annual report and financial statements for the year ended 31 January 2024.

Principal activities

The principal activity of the company is the supply of office furniture and equipment.

 

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

D A Hinsley
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
D A Hinsley
Director
10 September 2024
Office & Educational Furniture Limited
Balance sheet
As at 31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,100
11,700
Current assets
Stocks
1,250
50,250
Debtors
4
21,419
75,753
Cash at bank and in hand
143,163
102,525
165,832
228,528
Creditors: amounts falling due within one year
5
(108,477)
(167,224)
Net current assets
57,355
61,304
Total assets less current liabilities
65,455
73,004
Creditors: amounts falling due after more than one year
6
-
0
(2,880)
Provisions for liabilities
(2,025)
(2,223)
Net assets
63,430
67,901
Capital and reserves
Called up share capital
7
4
4
Profit and loss reserves
63,426
67,897
Total equity
63,430
67,901

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

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his 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 and signed by the director and authorised for issue on 10 September 2024
D A Hinsley
Director
Company registration number 09966239 (England and Wales)
Office & Educational Furniture Limited
Notes to the financial statements
For the year ended 31 January 2024
- 3 -
1
Accounting policies
Company information

Office & Educational Furniture Limited is a private company limited by shares incorporated in England and Wales. The registered office is 28 Pigeon Lane, Herne Bay, Kent, CT6 7EH.

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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable, net of discounts and value added taxes.

1.3
Tangible fixed assets

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:

Fixtures and fittings
25% straight line basis
Motor vehicles
25% straight line basis

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

1.4
Stocks

Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.

1.5
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

Deferred tax is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Office & Educational Furniture Limited
Notes to the financial statements (continued)
For the year ended 31 January 2024
- 4 -
2
Employees

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

2024
2023
Number
Number
Total
3
4
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 February 2023 and 31 January 2024
200
14,400
14,600
Depreciation and impairment
At 1 February 2023
200
2,700
2,900
Depreciation charged in the year
-
0
3,600
3,600
At 31 January 2024
200
6,300
6,500
Carrying amount
At 31 January 2024
-
0
8,100
8,100
At 31 January 2023
-
0
11,700
11,700
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
21,034
75,753
Prepayments and accrued income
385
-
0
21,419
75,753
Office & Educational Furniture Limited
Notes to the financial statements (continued)
For the year ended 31 January 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans and overdrafts
2,880
8,640
Trade creditors
30,350
115,604
Corporation tax
21,795
15,237
Other taxation and social security
9,454
3,427
Directors' loan account
40,623
20,622
Accruals and deferred income
3,375
3,694
108,477
167,224

The bank loan is secured by a personal guarantee from the director, D A Hinsley, and his wife, Mrs G Hinsley.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
2,880

The bank loan is secured by a personal guarantee from the director, D A Hinsley, and his wife, Mrs G Hinsley.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
4
4
4
4

 

8
Directors' transactions

Dividends totalling £38,900 (2023 - £35,250) were paid in the year in respect of shares held by the company's directors.

The director's loan account was not overdrawn during the year.

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