Registered number
08372379
Autumn Leaves Furniture Outlet Limited
Filleted Accounts
31 January 2024
Autumn Leaves Furniture Outlet Limited
Registered number: 08372379
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 136,335 121,643
Current assets
Stocks 1,509,312 1,865,718
Debtors 4 2,201,204 2,186,221
Cash at bank and in hand 6,539 1,486
3,717,055 4,053,425
Creditors: amounts falling due within one year 5 (1,788,728) (2,101,776)
Net current assets 1,928,327 1,951,649
Total assets less current liabilities 2,064,662 2,073,292
Creditors: amounts falling due after more than one year 6 - (10,417)
Provisions for liabilities (23,840) (23,120)
Net assets 2,040,822 2,039,755
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,040,820 2,039,753
Shareholders' funds 2,040,822 2,039,755
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Partridge
Director
Approved by the board on 3 October 2024 and signed on its behalf
Autumn Leaves Furniture Outlet Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 119,919 148,665 268,584
Additions - 113,733 113,733
Disposals - (109,234) (109,234)
At 31 January 2024 119,919 153,164 273,083
Depreciation
At 1 February 2023 69,009 77,932 146,941
Charge for the year 9,721 31,716 41,437
On disposals - (51,630) (51,630)
At 31 January 2024 78,730 58,018 136,748
Net book value
At 31 January 2024 41,189 95,146 136,335
At 31 January 2023 50,910 70,733 121,643
4 Debtors 2024 2023
£ £
Trade debtors 114,085 33,375
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,079,519 2,152,800
Other debtors 7,600 46
2,201,204 2,186,221
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 93,287 141,901
Trade creditors 1,215,214 1,484,084
Taxation and social security costs 349,577 351,694
Other creditors 130,650 124,097
1,788,728 2,101,776
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 10,417
7 Pension commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently managed fund. At the balance sheet date contributions of £194 (2023 - £277) were due to the fund.
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases - 21,621
9 Related party transactions
During the year, the company paid £8,628 (2023 - £8,628) to Mr S Partridge, and £12,500 (2023 - £12,500) to Mrs K Partridge, the company directors.

During the year, the company also rented premises from its directors. The rental charge was £22,369 (2023 - £53,685).

The company declared a dividend of £1,000 (2023 - £2,000) in favour of each director.

At the year-end the company owed its directors £114,538 (2023 - £116,211).

The company also rented premises from Autumn Leaves Holdings Limited, a company under common ownership. The rental charge was £75,000 (2023 - £225,000). The company transferred funds in the sum of £100,001 (2023 - £nil) to, and received funds in the sum of £110,199 (2023 - £nil) from Autumn Leaves Holdings Limited. It paid out £6,636 (2023 - £6,343) on behalf of Autumn Leaves Holdings Limited. It also raised a management recharge in the sum of £5,280 (2023 - £4,925).

At the year end, the company was owed £2,079,519 (2023 - £2,152,800) by Autumn Leaves Holdings Limited.
10 Controlling party
The company is controlled by its directors.
11 Other information
Autumn Leaves Furniture Outlet Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 12B
Middlemore Lane West
Aldridge
Walsall
WS9 8BH
Autumn Leaves Furniture Outlet Limited 08372379 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts July 2024 S Partridge No description of principal activity 08372379 2022-02-01 2023-01-31 08372379 core:WithinOneYear 2023-01-31 08372379 core:AfterOneYear 2023-01-31 08372379 core:ShareCapital 2023-01-31 08372379 core:RetainedEarningsAccumulatedLosses 2023-01-31 08372379 core:AllPeriods 2023-01-31 08372379 2023-02-01 2024-01-31 08372379 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08372379 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 08372379 bus:Director40 2023-02-01 2024-01-31 08372379 1 2023-02-01 2024-01-31 08372379 2 2023-02-01 2024-01-31 08372379 core:PlantMachinery 2023-02-01 2024-01-31 08372379 core:Vehicles 2023-02-01 2024-01-31 08372379 countries:England 2023-02-01 2024-01-31 08372379 bus:FRS102 2023-02-01 2024-01-31 08372379 bus:FilletedAccounts 2023-02-01 2024-01-31 08372379 2024-01-31 08372379 core:WithinOneYear 2024-01-31 08372379 core:AfterOneYear 2024-01-31 08372379 core:ShareCapital 2024-01-31 08372379 core:RetainedEarningsAccumulatedLosses 2024-01-31 08372379 core:PlantMachinery 2024-01-31 08372379 core:Vehicles 2024-01-31 08372379 core:AllPeriods 2024-01-31 08372379 2023-01-31 08372379 core:PlantMachinery 2023-01-31 08372379 core:Vehicles 2023-01-31 iso4217:GBP xbrli:pure