2023-04-012024-03-312024-03-31false08912098JOHN LLOYD FINE FURNITURE 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JOHN LLOYD FINE FURNITURE LIMITED

Registered Number
08912098
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

JOHN LLOYD FINE FURNITURE LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

LLOYD, John Stephen
LLOYD, Sara Jane

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

08912098 (England and Wales)
JOHN LLOYD FINE FURNITURE LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets377,34979,134
77,34979,134
Current assets
Stocks45003,500
Debtors5140,673124,231
Cash at bank and on hand32,30022,155
173,473149,886
Creditors amounts falling due within one year6(8,009)(8,005)
Net current assets (liabilities)165,464141,881
Total assets less current liabilities242,813221,015
Net assets242,813221,015
Capital and reserves
Called up share capital22
Profit and loss account242,811221,013
Shareholders' funds242,813221,015
The financial statements were approved and authorised for issue by the Board of Directors on 5 November 2024, and are signed on its behalf by:
LLOYD, John Stephen
Director
LLOYD, Sara Jane
Director

Registered Company No. 08912098
JOHN LLOYD FINE FURNITURE LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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 policy
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.
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 2371,99223,1542,8475,186103,179
At 31 March 2471,99223,1542,8475,186103,179
Depreciation and impairment
At 01 April 23-18,2491,7524,04424,045
Charge for year-1,2262742851,785
At 31 March 24-19,4752,0264,32925,830
Net book value
At 31 March 2471,9923,67982185777,349
At 31 March 2371,9924,9051,0951,14279,134
4.Stocks

2024

2023

££
Raw materials and consumables5003,500
Total5003,500
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,1523,150
Other debtors138,040119,331
Prepayments and accrued income1,4811,750
Total140,673124,231
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,8131,205
Taxation and social security5,4406,170
Accrued liabilities and deferred income756630
Total8,0098,005
7.Related party transactions
Included in the financial statements are the following significant transactions and balances with related parties: J Lloyd and Mrs S J Lloyd, directors and shareholders: 31.3.24 31.3.23 Administrative expenses 10,000 13,000
8.Controlling party
The company was controlled by its directors throughout the period.