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Registered number: 11366501
Safa Furniture Ltd
Unaudited ABRIDGED Financial Statements
For the Period 1 June 2022 to 30 November 2023
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3
Page 1
Abridged Balance Sheet
Registered number: 11366501
30 November 2023 31 May 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 55,400 56,000
Debtors 100 100
Cash at bank and in hand 10,410 11,636
65,910 67,736
Creditors: Amounts Falling Due Within One Year (67,993 ) (66,722 )
NET CURRENT ASSETS (LIABILITIES) (2,083 ) 1,014
TOTAL ASSETS LESS CURRENT LIABILITIES (2,083 ) 1,014
NET (LIABILITIES)/ASSETS (2,083 ) 1,014
CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and Loss Account (2,183 ) 914
SHAREHOLDERS' FUNDS (2,083) 1,014
Page 1
Page 2
For the period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 30 November 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Ms Asia Ali
Director
25/11/2024
The notes on page 3 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Safa Furniture Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11366501 . The registered office is 84 Dock Road, Grays, RM17 6EY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.5. Financial Instruments
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.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL (2022: 1)
- 1
4. Share Capital
30 November 2023 31 May 2022
£ £
Allotted, Called up and fully paid 100 100
5. Related Party Transactions
At the balance sheet date, the company owed £67,193 (2022-£66,323) to Mrs A.Ali, the director.
Page 3