Acorah Software Products - Accounts Production 16.3.350 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 02604458 Mr H P Bond Mr S D Hudson Mr S D Hudson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02604458 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2024-12-31 02604458 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2024-12-31 02604458 2023-12-31 02604458 2024-12-31 02604458 2024-01-01 2024-12-31 02604458 frs-core:CurrentFinancialInstruments 2024-12-31 02604458 frs-core:Non-currentFinancialInstruments 2024-12-31 02604458 frs-core:BetweenOneFiveYears 2024-12-31 02604458 frs-core:FurnitureFittings 2024-12-31 02604458 frs-core:FurnitureFittings 2024-01-01 2024-12-31 02604458 frs-core:FurnitureFittings 2023-12-31 02604458 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 02604458 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02604458 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 02604458 frs-core:MotorVehicles 2024-12-31 02604458 frs-core:MotorVehicles 2024-01-01 2024-12-31 02604458 frs-core:MotorVehicles 2023-12-31 02604458 frs-core:WithinOneYear 2024-12-31 02604458 frs-core:ShareCapital 2024-12-31 02604458 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 02604458 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02604458 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 02604458 frs-bus:SmallEntities 2024-01-01 2024-12-31 02604458 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 02604458 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02604458 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-12-31 02604458 frs-bus:Director1 2024-01-01 2024-12-31 02604458 frs-bus:Director2 2024-01-01 2024-12-31 02604458 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 02604458 frs-countries:EnglandWales 2024-01-01 2024-12-31 02604458 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2023-12-31 02604458 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2023-12-31 02604458 2022-12-31 02604458 2023-12-31 02604458 2023-01-01 2023-12-31 02604458 frs-core:CurrentFinancialInstruments 2023-12-31 02604458 frs-core:Non-currentFinancialInstruments 2023-12-31 02604458 frs-core:BetweenOneFiveYears 2023-12-31 02604458 frs-core:WithinOneYear 2023-12-31 02604458 frs-core:ShareCapital 2023-12-31 02604458 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 02604458 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31
Registered number: 02604458
Oxleys Furniture Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Grenfell James Associates Limited
13 The Courtyard
Timothy's Bridge Road
Stratford-upon-Avon
Warwickshire
CV37 9NP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 02604458
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 85,881 112,587
85,881 112,587
CURRENT ASSETS
Stocks 5 525,947 502,409
Debtors 6 49,822 52,424
Cash at bank and in hand 3,225 2,870
578,994 557,703
Creditors: Amounts Falling Due Within One Year 7 (258,476 ) (267,033 )
NET CURRENT ASSETS (LIABILITIES) 320,518 290,670
TOTAL ASSETS LESS CURRENT LIABILITIES 406,399 403,257
Creditors: Amounts Falling Due After More Than One Year 8 (5,622 ) (28,457 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,224 ) (21,392 )
NET ASSETS 385,553 353,408
CAPITAL AND RESERVES
Called up share capital 11 250 250
Fair value reserve 28,920 28,920
Profit and Loss Account 356,383 324,238
SHAREHOLDERS' FUNDS 385,553 353,408
Page 1
Page 2
For the year ending 31 December 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 directors acknowledge their 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 S D Hudson
Director
31/03/2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Oxleys Furniture Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02604458 . The registered office is 13 The Courtyard Timothys Bridge Road, Stratford Enterprise Park, Stratford-Upon-Avon, CV37 9NP.
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:
Freehold 10% Straight line
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Page 3
Page 4
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 11)
11 11
Page 4
Page 5
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2024 34,073 33,826 201,658 269,557
Additions - - 2,795 2,795
As at 31 December 2024 34,073 33,826 204,453 272,352
Depreciation
As at 1 January 2024 24,974 22,025 109,971 156,970
Provided during the period 3,343 2,951 23,207 29,501
As at 31 December 2024 28,317 24,976 133,178 186,471
Net Book Value
As at 31 December 2024 5,756 8,850 71,275 85,881
As at 1 January 2024 9,099 11,801 91,687 112,587
5. Stocks
2024 2023
£ £
Stock 525,947 502,409
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,587 6,632
Other debtors 30,235 45,792
49,822 52,424
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 12,467 12,164
Trade creditors 68,784 55,389
Bank loans and overdrafts 124,286 101,841
Other creditors 20,082 88,427
Taxation and social security 32,857 9,212
258,476 267,033
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 351 12,819
Bank loans 5,271 15,638
5,622 28,457
9. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 70,376 70,119
2024 2023
£ £
Amounts falling due between one and five years:
Bank loans 5,271 15,638
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 12,467 12,164
Later than one year and not later than five years 351 12,819
12,818 24,983
12,818 24,983
Page 6
Page 7
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 250 250
Page 7