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REGISTERED NUMBER: 04054825 (England and Wales)












Financial Statements

for the Year Ended 31 August 2024

for

Mansfield Soft Furnishings Limited

Mansfield Soft Furnishings Limited (Registered number: 04054825)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mansfield Soft Furnishings Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: D J Mansfield



SECRETARY: Mrs B Mansfield



REGISTERED OFFICE: Unit 1, Meadowcroft Mill
Bury Road
Bamford
Rochdale
OL11 4AU



REGISTERED NUMBER: 04054825 (England and Wales)



ACCOUNTANTS: Archwood Accountants
Archwood House
46-48 Long Street
Middleton
Manchester
M24 6UQ



BANKERS: Natwest Bank plc
Midway House
Long Street
Middleton
Manchester
M24 6NW

Mansfield Soft Furnishings Limited (Registered number: 04054825)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 186,088 206,670

CURRENT ASSETS
Debtors 5 328,234 428,130
Cash at bank 8,810 71,363
337,044 499,493
CREDITORS
Amounts falling due within one year 6 226,927 280,648
NET CURRENT ASSETS 110,117 218,845
TOTAL ASSETS LESS CURRENT
LIABILITIES

296,205

425,515

CREDITORS
Amounts falling due after more than one
year

7

(30,681

)

(54,113

)

PROVISIONS FOR LIABILITIES (18,752 ) (21,706 )
NET ASSETS 246,772 349,696

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 246,769 349,693
SHAREHOLDERS' FUNDS 246,772 349,696

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Mansfield Soft Furnishings Limited (Registered number: 04054825)

Balance Sheet - continued
31 August 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 director and authorised for issue on 13 February 2025 and were signed by:





D J Mansfield - Director


Mansfield Soft Furnishings Limited (Registered number: 04054825)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Mansfield Soft Furnishings 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
Revenue 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant & equipment - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Mansfield Soft Furnishings Limited (Registered number: 04054825)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

3. EMPLOYEES AND DIRECTORS

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

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant & and
property equipment fittings
£    £    £   
COST
At 1 September 2023 150,000 37,869 10,171
Additions - - -
Disposals - - -
At 31 August 2024 150,000 37,869 10,171
DEPRECIATION
At 1 September 2023 51,000 30,167 9,327
Charge for year 3,000 1,925 127
Eliminated on disposal - - -
At 31 August 2024 54,000 32,092 9,454
NET BOOK VALUE
At 31 August 2024 96,000 5,777 717
At 31 August 2023 99,000 7,702 844

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 390,371 - 588,411
Additions 13,170 299 13,469
Disposals (11,000 ) - (11,000 )
At 31 August 2024 392,541 299 590,880
DEPRECIATION
At 1 September 2023 291,247 - 381,741
Charge for year 27,799 99 32,950
Eliminated on disposal (9,899 ) - (9,899 )
At 31 August 2024 309,147 99 404,792
NET BOOK VALUE
At 31 August 2024 83,394 200 186,088
At 31 August 2023 99,124 - 206,670

Mansfield Soft Furnishings Limited (Registered number: 04054825)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023
and 31 August 2024 86,768
DEPRECIATION
At 1 September 2023 21,692
Charge for year 16,269
At 31 August 2024 37,961
NET BOOK VALUE
At 31 August 2024 48,807
At 31 August 2023 65,076

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 328,234 426,778
Other debtors - 1,352
328,234 428,130

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 10,432 10,043
Hire purchase contracts 13,000 13,000
Trade creditors 12,981 15,156
Tax 114,100 128,468
Social security and other taxes 65,376 84,827
Other creditors 7,339 25,919
Directors' current accounts 974 710
Accrued expenses 2,725 2,525
226,927 280,648

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans - 1-2 years 7,931 10,432
Bank loans - 2-5 years - 7,931
Hire purchase contracts 22,750 35,750
30,681 54,113

Mansfield Soft Furnishings Limited (Registered number: 04054825)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank loans 18,363 28,406
Hire purchase contracts 35,750 48,750
54,113 77,156

The bank loan is secured on the property owned by the company.