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Registered Number: 10350608
England and Wales

 

 

 

FURSALE LTD



Abridged Accounts
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
  2024   2023
    £ £   £ £
Fixed assets   10,757      12,837 
Current assets 137,886      173,650   
Creditors: amount falling due within one year (20,197)     (42,036)  
Net current assets   117,689      131,614 
Total assets less current liabilities   128,446      144,451 
Creditors: amount falling due after more than one year   (44,658)     (50,848)
Net assets   83,788      93,603 
 

         
Capital and reserves   83,788      93,603 
 
NOTES TO THE ACCOUNTS

General Information
Fursale Ltd is a private company, limited by shares, registered in England and Wales, registration number 10350608, registration address 9 Ullswater Road , Coventry, CV3 2DH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 3 years Straight Line
Motor Vehicles 18 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 September 2023 18,500      18,500 
Additions   345    345 
Disposals    
At 31 August 2024 18,500    345    18,845 
Depreciation
At 01 September 2023 5,663      5,663 
Charge for year 2,310    115    2,425 
On disposals    
At 31 August 2024 7,973    115    8,088 
Net book values
Closing balance as at 31 August 2024 10,527    230    10,757 
Opening balance as at 01 September 2023 12,837      12,837 


3.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts.
The financial statements were approved by the director on 24 May 2025 and were signed by:


--------------------------------
Radoslaw Pastusiak
Director
1