Registered number
12481216
GOLDSMITH FURNITURE LTD
Filleted Accounts
28 February 2025
GOLDSMITH FURNITURE LTD
Registered number: 12481216
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 33,803 32,763
Current assets
Stocks 28,500 31,900
Debtors 4 6,366 7,926
Cash at bank and in hand 57,590 39,100
92,456 78,926
Creditors: amounts falling due within one year 5 (14,019) (9,278)
Net current assets 78,437 69,648
Total assets less current liabilities 112,240 102,411
Creditors: amounts falling due after more than one year 6 (12,500) (32,500)
Net assets 99,740 69,911
Capital and reserves
Called up share capital 100 100
Profit and loss account 99,640 69,811
Shareholders' funds 99,740 69,911
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
SHUAIB MOHUYDDIN
Director
Approved by the board on 21 March 2025
GOLDSMITH FURNITURE LTD
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 10 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2024 17,910 27,055 44,965
Additions 1,555 4,596 6,151
At 28 February 2025 19,465 31,651 51,116
Depreciation
At 1 March 2024 4,100 8,102 12,202
Charge for the year 1,196 3,915 5,111
At 28 February 2025 5,296 12,017 17,313
Net book value
At 28 February 2025 14,169 19,634 33,803
At 29 February 2024 13,810 18,953 32,763
4 Debtors 2025 2024
£ £
Trade debtors 6,366 7,926
5 Creditors: amounts falling due within one year 2025 2024
£ £
Taxation and social security costs 9,256 6,653
Other creditors 4,763 2,625
14,019 9,278
6 Creditors: amounts falling due after one year 2025 2024
£ £
Directors Loan 12,500 32,500
7 Controlling party
The company is under the full control of the Director by virtue of them owning the fully issued share capital.
8 Other information
GOLDSMITH FURNITURE LTD is a private company limited by shares and incorporated in England. Its registered office is:
44 CALEDONIAN ROAD
DEWSBURY
WF12 9NT
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