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REGISTERED NUMBER: 04363548 (England and Wales)










EXIMIOUS FURNITURE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






EXIMIOUS FURNITURE LIMITED (REGISTERED NUMBER: 04363548)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXIMIOUS FURNITURE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr S Heaton
Ms C Geary





SECRETARY: Ms C Geary





REGISTERED OFFICE: 6 Newton Road
Harrowbrook Ind Estate
Hinckley
Leicestershire
LE10 3DS





REGISTERED NUMBER: 04363548 (England and Wales)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

EXIMIOUS FURNITURE LIMITED (REGISTERED NUMBER: 04363548)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 277,290 213,301

CURRENT ASSETS
Stocks 175,453 126,821
Debtors 5 597,590 336,781
Cash at bank and in hand 687,124 514,962
1,460,167 978,564
CREDITORS
Amounts falling due within one year 6 (648,475 ) (432,152 )
NET CURRENT ASSETS 811,692 546,412
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,088,982

759,713

PROVISIONS FOR LIABILITIES (51,140 ) (29,580 )
NET ASSETS 1,037,842 730,133

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,037,742 730,033
SHAREHOLDERS' FUNDS 1,037,842 730,133

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

EXIMIOUS FURNITURE LIMITED (REGISTERED NUMBER: 04363548)

BALANCE SHEET - continued
31 JANUARY 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 25 October 2024 and were signed on its behalf by:




Mr S Heaton - Director



Ms C Geary - Director


EXIMIOUS FURNITURE LIMITED (REGISTERED NUMBER: 04363548)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Eximious 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Furniture & fixtures - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

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.

EXIMIOUS FURNITURE LIMITED (REGISTERED NUMBER: 04363548)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Furniture
property machinery & fixtures
£    £    £   
COST
At 1 February 2023 78,500 532,924 37,280
Additions - 117,600 -
Disposals - (4,395 ) -
At 31 January 2024 78,500 646,129 37,280
DEPRECIATION
At 1 February 2023 44,155 404,671 20,245
Charge for year 7,850 59,112 2,555
Eliminated on disposal - (4,395 ) -
At 31 January 2024 52,005 459,388 22,800
NET BOOK VALUE
At 31 January 2024 26,495 186,741 14,480
At 31 January 2023 34,345 128,253 17,035

EXIMIOUS FURNITURE LIMITED (REGISTERED NUMBER: 04363548)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 112,304 51,459 812,467
Additions 26,871 2,951 147,422
Disposals - - (4,395 )
At 31 January 2024 139,175 54,410 955,494
DEPRECIATION
At 1 February 2023 81,510 48,585 599,166
Charge for year 12,737 1,179 83,433
Eliminated on disposal - - (4,395 )
At 31 January 2024 94,247 49,764 678,204
NET BOOK VALUE
At 31 January 2024 44,928 4,646 277,290
At 31 January 2023 30,794 2,874 213,301

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 195,025 36,092 231,117
DEPRECIATION
At 1 February 2023 167,691 21,911 189,602
Charge for year 33,882 3,545 37,427
At 31 January 2024 201,573 25,456 227,029
NET BOOK VALUE
At 31 January 2024 (6,548 ) 10,636 4,088
At 31 January 2023 27,334 14,181 41,515

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 559,915 280,828
Other debtors 37,675 55,953
597,590 336,781

EXIMIOUS FURNITURE LIMITED (REGISTERED NUMBER: 04363548)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 233,417 197,917
Hire purchase contracts (see note 7) 577 6,104
Trade creditors 138,128 114,553
Taxation and social security 184,146 60,218
Other creditors 92,207 53,360
648,475 432,152

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.1.24 31.1.23
£    £   
Net obligations repayable:
Within one year 577 6,104

Non-cancellable operating leases
31.1.24 31.1.23
£    £   
Within one year 54,000 54,000
Between one and five years 216,000 216,000
270,000 270,000

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Hire purchase contracts 577 6,104

Fixed assets on hire purchase contracts are secured against the individual assets to which they relate and are all repayable within five years.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is £1,541 (2023: £2,368) owed to Mr S Heaton, the director. This amount is unsecured and interest free with no set terms for repayment.

10. RELATED PARTY DISCLOSURES

During the year, the company was charged rent totalling £54,000 (2023: £54,000) for occupying business premises in which the directors have an interest. There was no balance outstanding at the balance sheet date (2023: £Nil).

11. ULTIMATE CONTROLLING PARTY

Business is equally controlled by both directors