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Company Registration No. 03340167 (England and Wales)
Kent Furniture Limited Unaudited accounts for the year ended 31 March 2024
Kent Furniture Limited Unaudited accounts Contents
Page
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Kent Furniture Limited Company Information for the year ended 31 March 2024
Directors
JM Kent PJ Kent
Company Number
03340167 (England and Wales)
Registered Office
Moor Lane Grassington Skipton North Yorkshire BD23 5BD
Accountants
Pearson & Associates Suite E, Canal Wharf Eshton Road Gargrave, Skipton North Yorkshire BD23 3SE
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Kent Furniture Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
87,696 
95,988 
Investment property
300,000 
300,000 
387,696 
395,988 
Current assets
Inventories
218,492 
227,620 
Cash at bank and in hand
515 
40,444 
219,007 
268,064 
Creditors: amounts falling due within one year
(155,744)
(143,460)
Net current assets
63,263 
124,604 
Total assets less current liabilities
450,959 
520,592 
Creditors: amounts falling due after more than one year
(12,108)
(18,467)
Provisions for liabilities
Deferred tax
(2,872)
(3,917)
Net assets
435,979 
498,208 
Capital and reserves
Called up share capital
2 
2 
Revaluation reserve
66,760 
66,760 
Profit and loss account
369,217 
431,446 
Shareholders' funds
435,979 
498,208 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by
JM Kent Director Company Registration No. 03340167
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Kent Furniture Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Kent Furniture Limited is a private company, limited by shares, registered in England and Wales, registration number 03340167. The registered office is Moor Lane, Grassington, Skipton, North Yorkshire, BD23 5BD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
in accordance with the property
Plant & machinery
15%/25% on reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% on cost
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Kent Furniture Limited Notes to the Accounts for the year ended 31 March 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
13,001 
At 31 March 2024
13,001 
Amortisation
At 1 April 2023
13,001 
At 31 March 2024
13,001 
Net book value
At 31 March 2024
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
135,673 
387,861 
68,930 
274 
592,738 
Additions
- 
- 
- 
1,124 
1,124 
At 31 March 2024
135,673 
387,861 
68,930 
1,398 
593,862 
Depreciation
At 1 April 2023
60,303 
367,820 
68,467 
160 
496,750 
Charge for the year
4,951 
4,280 
117 
68 
9,416 
At 31 March 2024
65,254 
372,100 
68,584 
228 
506,166 
Net book value
At 31 March 2024
70,419 
15,761 
346 
1,170 
87,696 
At 31 March 2023
75,370 
20,041 
463 
114 
95,988 
6
Investment property
2024 
£ 
Fair value at 1 April 2023
300,000 
At 31 March 2024
300,000 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
21,197 
- 
Trade creditors
13,528 
11,808 
Amounts owed to group undertakings and other participating interests
35,641 
36,241 
Taxes and social security
9,262 
27,940 
Other creditors
5,938 
3,888 
Loans from directors
61,123 
59,516 
Deferred income
9,055 
4,067 
155,744 
143,460 
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Kent Furniture Limited Notes to the Accounts for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
12,108 
18,467 
9
Average number of employees
During the year the average number of employees was 12 (2023: 11).
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