Sitraben Contract Furniture Limited 05532305 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is the supply of furniture and fittings to the leisure and catering industry Digita Accounts Production Advanced 6.30.9574.0 true true 05532305 2023-09-01 2024-08-31 05532305 2024-08-31 05532305 core:RetainedEarningsAccumulatedLosses 2024-08-31 05532305 core:ShareCapital 2024-08-31 05532305 core:CurrentFinancialInstruments 2024-08-31 05532305 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 05532305 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 05532305 core:FurnitureFittingsToolsEquipment 2024-08-31 05532305 core:MotorVehicles 2024-08-31 05532305 bus:SmallEntities 2023-09-01 2024-08-31 05532305 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 05532305 bus:FilletedAccounts 2023-09-01 2024-08-31 05532305 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05532305 bus:RegisteredOffice 2023-09-01 2024-08-31 05532305 bus:Director1 2023-09-01 2024-08-31 05532305 bus:Director2 2023-09-01 2024-08-31 05532305 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05532305 core:FurnitureFittings 2023-09-01 2024-08-31 05532305 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 05532305 core:MotorCars 2023-09-01 2024-08-31 05532305 core:MotorVehicles 2023-09-01 2024-08-31 05532305 core:PlantMachinery 2023-09-01 2024-08-31 05532305 countries:EnglandWales 2023-09-01 2024-08-31 05532305 2023-08-31 05532305 core:FurnitureFittingsToolsEquipment 2023-08-31 05532305 core:MotorVehicles 2023-08-31 05532305 2022-09-01 2023-08-31 05532305 2023-08-31 05532305 core:RetainedEarningsAccumulatedLosses 2023-08-31 05532305 core:ShareCapital 2023-08-31 05532305 core:CurrentFinancialInstruments 2023-08-31 05532305 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 05532305 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 05532305 core:FurnitureFittingsToolsEquipment 2023-08-31 05532305 core:MotorVehicles 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 05532305

Sitraben Contract Furniture Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Sitraben Contract Furniture Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Sitraben Contract Furniture Limited

(Registration number: 05532305)
Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

166,282

138,386

Current assets

 

Stocks

5

15,940

17,820

Debtors

6

102,412

214,874

Cash at bank and in hand

 

333,840

344,654

 

452,192

577,348

Creditors: Amounts falling due within one year

7

(194,314)

(236,798)

Net current assets

 

257,878

340,550

Total assets less current liabilities

 

424,160

478,936

Creditors: Amounts falling due after more than one year

7

(56,476)

(18,451)

Provisions for liabilities

(32,690)

(25,760)

Net assets

 

334,994

434,725

Capital and reserves

 

Called up share capital

100

100

Retained earnings

334,894

434,625

Shareholders' funds

 

334,994

434,725

For the financial year ending 31 August 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.

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 26 February 2025 and signed on its behalf by:
 

 

Sitraben Contract Furniture Limited

(Registration number: 05532305)
Statement of Financial Position as at 31 August 2024

.........................................
Mr SA Marples
Director

.........................................
Mrs T Marples
Director

 
     
 

Sitraben Contract Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
3-5 Finlan Road
Stakehill Industrial Estate
Middleton
Manchester
M24 2RW

These financial statements were authorised for issue by the Board on 26 February 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Tax

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.

 

Sitraben Contract Furniture Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Equipment, fixtures and fittings

25% reducing balance

Motor vehicles

Over 4 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Sitraben Contract Furniture Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Sitraben Contract Furniture Limited

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

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 19 (2023 - 23).

 

Sitraben Contract Furniture Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

265,735

119,600

385,335

Additions

4,500

83,052

87,552

At 31 August 2024

270,235

202,652

472,887

Depreciation

At 1 September 2023

197,349

49,600

246,949

Charge for the year

10,393

49,263

59,656

At 31 August 2024

207,742

98,863

306,605

Carrying amount

At 31 August 2024

62,493

103,789

166,282

At 31 August 2023

68,386

70,000

138,386

5

Stocks

2024
£

2023
£

Other inventories

15,940

17,820

6

Debtors

Current

2024
£

2023
£

Trade debtors

91,477

204,874

Other debtors

10,935

10,000

 

102,412

214,874

 

Sitraben Contract Furniture Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

27,367

10,648

Trade creditors

 

113,333

140,903

Taxation and social security

 

46,181

61,295

Accruals and deferred income

 

-

100

Other creditors

 

7,433

23,852

 

194,314

236,798

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

56,476

18,451