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Registered number: 12588044
E7 Furniture Ltd
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12588044
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,357 6,616
6,357 6,616
CURRENT ASSETS
Debtors 5 2,419 -
Cash at bank and in hand 21,898 12,161
24,317 12,161
Creditors: Amounts Falling Due Within One Year 6 (15,416 ) -
NET CURRENT ASSETS (LIABILITIES) 8,901 12,161
TOTAL ASSETS LESS CURRENT LIABILITIES 15,258 18,777
Creditors: Amounts Falling Due After More Than One Year 7 (1,478 ) (1,478 )
NET ASSETS 13,780 17,299
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 13,779 17,298
SHAREHOLDERS' FUNDS 13,780 17,299
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ahmed Kadir Ghachi
Director
24/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
E7 Furniture Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12588044 . The registered office is 205 COMPASS HOUSE, 11 RAINE STREET, London, E1W 3AU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 15 years straight line method
Motor Vehicles 20% REDUCING BALANCE METHOD
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Total
£ £ £
Cost
As at 1 June 2023 5,200 3,080 8,280
As at 31 May 2024 5,200 3,080 8,280
Depreciation
As at 1 June 2023 1,664 - 1,664
Provided during the period 259 - 259
As at 31 May 2024 1,923 - 1,923
Net Book Value
As at 31 May 2024 3,277 3,080 6,357
As at 1 June 2023 3,536 3,080 6,616
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Director's loan account 2,419 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15,416 -
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Trade creditors 1,478 1,478
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4