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REGISTERED NUMBER: 04595802 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 March 2024

for

RETAIL FURNITURE LIMITED

RETAIL FURNITURE LIMITED (REGISTERED NUMBER: 04595802)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

RETAIL FURNITURE 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: 04595802 (England and Wales)





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

RETAIL FURNITURE LIMITED (REGISTERED NUMBER: 04595802)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 85,957 109,110

CURRENT ASSETS
Stocks 144,137 123,194
Debtors 5 845,724 489,652
Cash at bank 472,363 377,726
1,462,224 990,572
CREDITORS
Amounts falling due within one year 6 1,140,884 692,055
NET CURRENT ASSETS 321,340 298,517
TOTAL ASSETS LESS CURRENT
LIABILITIES

407,297

407,627

CREDITORS
Amounts falling due after more than one year 7 (119,747 ) (171,501 )

PROVISIONS FOR LIABILITIES (21,489 ) (20,731 )
NET ASSETS 266,061 215,395

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 266,059 215,393
SHAREHOLDERS' FUNDS 266,061 215,395

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.

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 LIMITED (REGISTERED NUMBER: 04595802)

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


1. STATUTORY INFORMATION

Retail Furniture 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.

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.

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

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

RETAIL FURNITURE LIMITED (REGISTERED NUMBER: 04595802)

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


2. ACCOUNTING POLICIES - continued

Employee benefits
The holiday year end runs in line with the accounting year end and so no holiday pay accrual is required in the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 54 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 191,584
Additions 4,949
At 31 March 2024 196,533
DEPRECIATION
At 1 April 2023 82,474
Charge for year 28,102
At 31 March 2024 110,576
NET BOOK VALUE
At 31 March 2024 85,957
At 31 March 2023 109,110

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 87,347
DEPRECIATION
At 1 April 2023 9,453
Charge for year 19,473
At 31 March 2024 28,926
NET BOOK VALUE
At 31 March 2024 58,421
At 31 March 2023 77,894

RETAIL FURNITURE LIMITED (REGISTERED NUMBER: 04595802)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 836,502 488,585
Amounts owed by group undertakings - 388
Other debtors 9,222 679
845,724 489,652

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 25,000 25,000
Hire purchase contracts 26,753 25,252
Trade creditors 500,973 300,898
Amounts owed to group undertakings 400,424 191,837
Taxation and social security 183,689 139,458
Other creditors 4,045 9,610
1,140,884 692,055

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 47,917 72,917
Hire purchase contracts 71,830 98,584
119,747 171,501

8. RELATED PARTY DISCLOSURES

At the balance sheet date, a loan of £400,424 (2023: £191,837) was due to be paid to the parent company, Retail Furniture Holdings Limited.

Interest has been charged on this balance 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 from the parent company.

A loan of £Nil (2023: £388) was made to a company called Little Wenlock Farm Limited, a company in which one of the directors has an interest.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Retail Furniture 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 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 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 Limited and state those matters that we have agreed to state to the Board of Directors of Retail Furniture 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 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 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 Limited. You consider that Retail Furniture 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 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