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JONATHAN ROSE FINE FURNITURE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






JONATHAN ROSE FINE FURNITURE LTD (REGISTERED NUMBER: 05267097)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JONATHAN ROSE FINE FURNITURE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J Rose
Mrs A S Rose





SECRETARY: Mrs A S Rose





REGISTERED OFFICE: Manor Farm Workshop
Milbourne Lane
Malmesbury
Wiltshire
SN16 9JB





REGISTERED NUMBER: 05267097 (England and Wales)





ACCOUNTANTS: Bowen Accountants Ltd
Chartered Accountants
Unit 1 Gate Farm
High Street
Sutton Benger
Chippenham
Wiltshire
SN15 4RE

JONATHAN ROSE FINE FURNITURE LTD (REGISTERED NUMBER: 05267097)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 377,741 419,526

CURRENT ASSETS
Stocks 5 68,000 68,000
Debtors 6 73,840 157,543
Prepayments and accrued income 5,890 2,660
Cash at bank 13,275 110
161,005 228,313
CREDITORS
Amounts falling due within one year 7 92,566 98,594
NET CURRENT ASSETS 68,439 129,719
TOTAL ASSETS LESS CURRENT
LIABILITIES

446,180

549,245

CREDITORS
Amounts falling due after more than one
year

8

(20,528

)

(47,646

)

PROVISIONS FOR LIABILITIES 9 (75,255 ) (85,781 )

ACCRUALS AND DEFERRED INCOME (20,519 ) (17,408 )
NET ASSETS 329,878 398,410

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 329,778 398,310
SHAREHOLDERS' FUNDS 329,878 398,410

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

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

JONATHAN ROSE FINE FURNITURE LTD (REGISTERED NUMBER: 05267097)

BALANCE SHEET - continued
31 MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 December 2024 and were signed on its behalf by:





J Rose - Director


JONATHAN ROSE FINE FURNITURE LTD (REGISTERED NUMBER: 05267097)

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

1. STATUTORY INFORMATION

Jonathan Rose Fine Furniture Ltd 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.

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.

Turnover is recognised when goods are physically delivered to the customer and represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of consideration due.

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.
Leasehold improvements - 5% on cost and Straight line at varying rates
Plant and machinery - 25% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer 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 Statement of Income and Retained Earnings, 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.

JONATHAN ROSE FINE FURNITURE LTD (REGISTERED NUMBER: 05267097)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company makes contributions to the personal pension plans of the directors. The contributions made during the year are charged to the profit and loss account.

Government grants
Grant income received in relation of the Covid-19 pandemic is being accounted for using the accrual model. Grants relating to revenue are recognised in income on a systematic basis over the period in which the related costs are incurred, for which the grant is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Plant and Office
improvements machinery equipment
£    £    £   
COST
At 1 April 2023 302,934 593,888 9,972
Additions - 3,762 1,024
At 31 March 2024 302,934 597,650 10,996
DEPRECIATION
At 1 April 2023 109,294 380,609 7,614
Charge for year 19,419 32,239 705
At 31 March 2024 128,713 412,848 8,319
NET BOOK VALUE
At 31 March 2024 174,221 184,802 2,677
At 31 March 2023 193,640 213,279 2,358

JONATHAN ROSE FINE FURNITURE LTD (REGISTERED NUMBER: 05267097)

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

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 42,654 21,497 970,945
Additions - 9,342 14,128
At 31 March 2024 42,654 30,839 985,073
DEPRECIATION
At 1 April 2023 39,581 14,321 551,419
Charge for year 769 2,781 55,913
At 31 March 2024 40,350 17,102 607,332
NET BOOK VALUE
At 31 March 2024 2,304 13,737 377,741
At 31 March 2023 3,073 7,176 419,526

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 147,500
DEPRECIATION
At 1 April 2023 50,256
Charge for year 14,587
At 31 March 2024 64,843
NET BOOK VALUE
At 31 March 2024 82,657
At 31 March 2023 97,244

5. STOCKS
2024 2023
£    £   
Stocks 68,000 68,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 44,594 151,506
Directors' current accounts 28,628 2,497
Section 455 tax 618 618
VAT - 2,922
73,840 157,543

JONATHAN ROSE FINE FURNITURE LTD (REGISTERED NUMBER: 05267097)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 12,349
Hire purchase contracts 17,117 16,341
Trade creditors 8,028 22,152
Tax 5,984 22,396
Social security and other taxes 8,690 9,937
VAT 24,595 -
Other creditors 8,518 7,177
Credit Card 9,634 8,242
92,566 98,594

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 1,667 11,667
Hire purchase contracts 8,861 25,979
20,528 47,646

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 75,255 85,781

Deferred
tax
£   
Balance at 1 April 2023 85,781
Provided during year (10,526 )
Balance at 31 March 2024 75,255

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £13,269 (2023, £45,115).

JONATHAN ROSE FINE FURNITURE LTD (REGISTERED NUMBER: 05267097)

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

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
J Rose and Mrs A S Rose
Balance outstanding at start of year 2,497 2,676
Amounts advanced 26,484 353
Amounts repaid (353 ) (532 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,628 2,497

The above loan was unsecured with no fixed repayment term. Interest on balances greater than £10,000 has been charged at the official rate of interest.