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Registration number: 03302804

Corporate Furniture and Interiors Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Corporate Furniture and Interiors Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Corporate Furniture and Interiors Limited

Company Information

Directors

Mrs Marion Duddigan

Mr Andrew Duddigan

Mr Bahader Chagger

Mrs Jacqueline Annette Chagger

Company secretary

Mrs Marion Duddigan

Registered office

Verna House
9 Bicester Road
Aylesbury
Buckinghamshire
HP19 9AG

Accountants

Evolution Accountancy Limited
Verna House
9 Bicester Road
Aylesbury
Buckinghamshire
HP19 9AG

 

Corporate Furniture and Interiors Limited

(Registration number: 03302804)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

39,632

51,750

Current assets

 

Stocks

5

64,363

82,996

Debtors

6

173,946

123,834

Cash at bank and in hand

 

84

122

 

238,393

206,952

Creditors: Amounts falling due within one year

7

(212,160)

(181,117)

Net current assets

 

26,233

25,835

Total assets less current liabilities

 

65,865

77,585

Creditors: Amounts falling due after more than one year

7

(22,500)

(53,200)

Net assets

 

43,365

24,385

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

43,265

24,285

Shareholders' funds

 

43,365

24,385

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Corporate Furniture and Interiors Limited

(Registration number: 03302804)
Balance Sheet as at 30 April 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

.........................................
Mr Bahader Chagger
Director

 

Corporate Furniture and Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Verna House
9 Bicester Road
Aylesbury
Buckinghamshire
HP19 9AG
United Kingdom

These financial statements were authorised for issue by the Board on 28 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Corporate Furniture and Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Motor vehicles

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 14).

 

Corporate Furniture and Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

55,548

319,455

38,495

413,498

At 30 April 2024

55,548

319,455

38,495

413,498

Depreciation

At 1 May 2023

53,904

270,826

36,199

360,929

Charge for the year

411

11,952

574

12,937

At 30 April 2024

54,315

282,778

36,773

373,866

Carrying amount

At 30 April 2024

1,233

36,677

1,722

39,632

At 30 April 2023

1,644

47,810

2,296

51,750

5

Stocks

2024
£

2023
£

Raw materials and consumables

44,822

39,650

Work in progress

19,541

43,346

64,363

82,996

6

Debtors

Current

2024
£

2023
£

Trade debtors

173,946

123,834

 

173,946

123,834

7

Creditors

 

Corporate Furniture and Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

66,863

47,821

Trade creditors

 

36,516

36,017

Taxation and social security

 

39,233

26,787

Accruals and deferred income

 

2,600

3,600

Other creditors

 

66,948

66,892

 

212,160

181,117

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

22,500

53,200

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

22,500

32,500

Hire purchase contracts

-

20,700

22,500

53,200

 

Corporate Furniture and Interiors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

46,163

27,121

Hire purchase contracts

20,700

20,700

66,863

47,821

10

Related party transactions

At the balance sheet date, included in Creditors is an amount owed to director and shareholder Mr A Duddigan for the sum of £11,175 (2023-£11,175) and to Mr B Chagger for the sum of £33,3725 (2023-£33,725).

At the balance sheet date, included in Other Creditors is an amount owed to JBL Furniture Design and Interiors Limited in which Mr B Chagger and Mrs J Chagger are directors and shareholder for the sum of £20,000 (2023-£20,000).


At the balance sheet date , included in Trade Debtors is an amount owed by JBL Furniture Design and Interiors Limited in which Mr B Chagger and Mrs J Chagger are directors and shareholderss for the sum of £90,011 (2023-£117,996).