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REGISTERED NUMBER: 05777845 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 March 2024

for

RETAIL FURNITURE HOLDINGS LIMITED

RETAIL FURNITURE HOLDINGS LIMITED (REGISTERED NUMBER: 05777845)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

RETAIL FURNITURE HOLDINGS LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N Enefer
S Gough
A Hall
Mrs L Cadd





SECRETARY:





REGISTERED OFFICE: Unit E
Halesfield 13
Telford
Shropshire
TF7 4PL





REGISTERED NUMBER: 05777845 (England and Wales)





ACCOUNTANTS: CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW

RETAIL FURNITURE HOLDINGS LIMITED (REGISTERED NUMBER: 05777845)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,829,689 1,707,675
Investments 5 2 2
1,829,691 1,707,677

CURRENT ASSETS
Debtors 6 414,157 219,227
Cash at bank 9,772 5,540
423,929 224,767
CREDITORS
Amounts falling due within one year 7 209,464 143,432
NET CURRENT ASSETS 214,465 81,335
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,044,156

1,789,012

CREDITORS
Amounts falling due after more than one year 8 (624,615 ) (521,697 )

PROVISIONS FOR LIABILITIES (178,196 ) (130,981 )
NET ASSETS 1,241,345 1,136,334

CAPITAL AND RESERVES
Called up share capital 600 600
Capital redemption reserve 400 400
Fair value reserve 10 258,824 258,824
Retained earnings 981,521 876,510
SHAREHOLDERS' FUNDS 1,241,345 1,136,334

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RETAIL FURNITURE HOLDINGS LIMITED (REGISTERED NUMBER: 05777845)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2024 and were signed on its behalf by:





N Enefer - Director


RETAIL FURNITURE HOLDINGS LIMITED (REGISTERED NUMBER: 05777845)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Retail Furniture Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts for reported assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

RETAIL FURNITURE HOLDINGS LIMITED (REGISTERED NUMBER: 05777845)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 1,199,999 1,417,854 235,807 79,525 2,933,185
Additions - 300,000 - - 300,000
At 31 March 2024 1,199,999 1,717,854 235,807 79,525 3,233,185
DEPRECIATION
At 1 April 2023 - 1,070,857 85,189 69,464 1,225,510
Charge for year - 137,816 37,654 2,516 177,986
At 31 March 2024 - 1,208,673 122,843 71,980 1,403,496
NET BOOK VALUE
At 31 March 2024 1,199,999 509,181 112,964 7,545 1,829,689
At 31 March 2023 1,199,999 346,997 150,618 10,061 1,707,675

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2020 319,536 - - - 319,536
Cost 880,463 1,717,854 235,807 79,525 2,913,649
1,199,999 1,717,854 235,807 79,525 3,233,185

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 470,035 134,368 604,403
Additions 300,000 - 300,000
At 31 March 2024 770,035 134,368 904,403
DEPRECIATION
At 1 April 2023 225,751 2,799 228,550
Charge for year 111,071 32,893 143,964
At 31 March 2024 336,822 35,692 372,514
NET BOOK VALUE
At 31 March 2024 433,213 98,676 531,889
At 31 March 2023 244,284 131,569 375,853

RETAIL FURNITURE HOLDINGS LIMITED (REGISTERED NUMBER: 05777845)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 2
NET BOOK VALUE
At 31 March 2024 2
At 31 March 2023 2

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed by group undertakings 400,424 207,482
Other debtors 13,733 11,745
414,157 219,227

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 22,788 22,788
Hire purchase contracts 151,516 94,291
Trade creditors 18,110 10,979
Other creditors 17,050 15,374
209,464 143,432

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 241,525 264,757
Hire purchase contracts 383,090 256,940
624,615 521,697

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 150,373 173,605

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 264,313 287,545
Hire purchase contracts 534,606 351,231
798,919 638,776

The bank borrowing is secured by a fixed charge on the company's land and buildings.

RETAIL FURNITURE HOLDINGS LIMITED (REGISTERED NUMBER: 05777845)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


10. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 258,824

11. RELATED PARTY DISCLOSURES

At the balance sheet date, a loan of £400,424 (2023: £191,837) was due to be paid from Retail Furniture Limited, a company wholly owned by Retail Furniture Holdings Limited.
Interest has been charged on the loan at a rate of 2.25% per annum.

During the year, rent totalling £72,000 (2023: £72,000) and service charges of £100,004 (2023: £100,004) were charged to Retail Furniture Limited.

A loan of £Nil (2023: £15,645) was made to a company called Little Wenlock Farm Limited, a company in which one of the directors has an interest. Interest has been charged on the loan at a rate of 2.25% per annum.

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who own 100% of the issued share capital.

13. SHORT TERM EMPLOYEE BENEFITS

The holiday pay year coincides with the financial year end of the business and so there are no accrued holidays not taken at the balance sheet date.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Retail Furniture Holdings Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Retail Furniture Holdings Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Retail Furniture Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Retail Furniture Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Retail Furniture Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Retail Furniture Holdings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Retail Furniture Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Retail Furniture Holdings Limited. You consider that Retail Furniture Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Retail Furniture Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW


24 October 2024