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REGISTERED NUMBER: 03264100 (England and Wales)








Unaudited Financial Statements

for the Year Ended

30 September 2024

for

Witley Jones Furniture Limited

Witley Jones Furniture Limited (Registered number: 03264100)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Witley Jones Furniture Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: C Jones
Mrs J A Jones
S C Downes
M B Jones
Miss L M Jones
D T Manser





SECRETARY: Mrs J A Jones





REGISTERED OFFICE: Beech House
Barracks Road
Sandy Lane Industrial Estate
Stourport-on-Severn
Worcestershire
DY13 9QA





REGISTERED NUMBER: 03264100 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Witley Jones Furniture Limited (Registered number: 03264100)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 322,825 298,342

CURRENT ASSETS
Stocks 269,951 275,719
Debtors 5 1,003,697 916,574
Cash at bank and in hand 317,221 154,995
1,590,869 1,347,288
CREDITORS
Amounts falling due within one year 6 1,249,479 1,067,546
NET CURRENT ASSETS 341,390 279,742
TOTAL ASSETS LESS CURRENT
LIABILITIES

664,215

578,084

CREDITORS
Amounts falling due after more than one year 7 (92,071 ) (142,849 )

PROVISIONS FOR LIABILITIES (42,000 ) (27,450 )

ACCRUALS AND DEFERRED INCOME (97,400 ) (106,300 )
NET ASSETS 432,744 301,485

CAPITAL AND RESERVES
Called up share capital 89 89
Share premium 13,993 13,993
Capital redemption reserve 21 21
Retained earnings 418,641 287,382
SHAREHOLDERS' FUNDS 432,744 301,485

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Witley Jones Furniture Limited (Registered number: 03264100)

Balance Sheet - continued
30 September 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 11 December 2024 and were signed on its behalf by:





C Jones - Director


Witley Jones Furniture Limited (Registered number: 03264100)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Witley Jones 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.

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.
Freehold property - 4% straight line
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 10% on cost

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.

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

Grants
Capital grants received are shown in the balance sheet as deferred income and are credited to the profit and loss account by instalments over the useful economic lives of the related assets and on bases consistent with the depreciation policies of those assets.

Revenue grants are offset against the related costs in the profit and loss account as the expense is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 29 ) .

Witley Jones Furniture Limited (Registered number: 03264100)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 239,643 147,879 30,338 1,263 419,123
Additions 10,520 9,945 33,132 1,282 54,879
At 30 September 2024 250,163 157,824 63,470 2,545 474,002
DEPRECIATION
At 1 October 2023 66,626 50,109 3,793 253 120,781
Charge for year 10,241 15,784 3,862 509 30,396
At 30 September 2024 76,867 65,893 7,655 762 151,177
NET BOOK VALUE
At 30 September 2024 173,296 91,931 55,815 1,783 322,825
At 30 September 2023 173,017 97,770 26,545 1,010 298,342

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 938,255 858,959
Other debtors 65,442 57,615
1,003,697 916,574

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 60,000 59,988
Hire purchase contracts 23,651 17,314
Trade creditors 791,291 703,655
Amounts owed to group undertakings 75,815 66,556
Taxation and social security 212,385 145,710
Other creditors 86,337 74,323
1,249,479 1,067,546

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 55,000 115,000
Hire purchase contracts 37,071 27,849
92,071 142,849