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Company Registration No. 10167982 (England and Wales)
Simply Furniture Limited Unaudited accounts for the year ended 31 May 2024
Simply Furniture Limited Unaudited accounts Contents
Page
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Simply Furniture Limited Company Information for the year ended 31 May 2024
Director
STEPHEN RICHARDSON
Company Number
10167982 (England and Wales)
Registered Office
Richardsons Newstet Road Knowsley Industrial Park Liverpool Merseyside L33 7TJ England
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Simply Furniture Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
35,000 
35,000 
Tangible assets
9,353 
13,497 
44,353 
48,497 
Current assets
Inventories
43,900 
42,808 
Cash at bank and in hand
27,691 
16,021 
71,591 
58,829 
Creditors: amounts falling due within one year
(48,233)
(34,653)
Net current assets
23,358 
24,176 
Total assets less current liabilities
67,711 
72,673 
Creditors: amounts falling due after more than one year
(17,543)
(23,925)
Net assets
50,168 
48,748 
Capital and reserves
Called up share capital
100 
100 
Share premium
40,000 
40,000 
Profit and loss account
10,068 
8,648 
Shareholders' funds
50,168 
48,748 
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 members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 February 2025 and were signed on its behalf by
STEPHEN RICHARDSON Director Company Registration No. 10167982
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Simply Furniture Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Simply Furniture Limited is a private company, limited by shares, registered in England and Wales, registration number 10167982. The registered office is Richardsons, Newstet Road, Knowsley Industrial Park, Liverpool, Merseyside, L33 7TJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
2
Motor vehicles
2
Computer equipment
2
Presentation currency
The accounts are presented in £ sterling.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2023
- 
At 31 May 2024
- 
Amortisation
At 1 June 2023
(35,000)
At 31 May 2024
(35,000)
Net book value
At 31 May 2024
35,000 
At 31 May 2023
35,000 
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Simply Furniture Limited Notes to the Accounts for the year ended 31 May 2024
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2023
17,400 
19,000 
3,467 
39,867 
Additions
- 
- 
1,491 
1,491 
At 31 May 2024
17,400 
19,000 
4,958 
41,358 
Depreciation
At 1 June 2023
10,180 
13,400 
2,790 
26,370 
Charge for the year
1,740 
2,800 
1,095 
5,635 
At 31 May 2024
11,920 
16,200 
3,885 
32,005 
Net book value
At 31 May 2024
5,480 
2,800 
1,073 
9,353 
At 31 May 2023
7,220 
5,600 
677 
13,497 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
37,958 
23,094 
Taxes and social security
1,075 
1,359 
Proposed dividends
2,000 
- 
Loans from directors
7,200 
10,200 
48,233 
34,653 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
17,543 
23,925 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 7 (2023: 6).
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