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REGISTERED NUMBER: 02561253 (England and Wales)












Programme Furniture Limited
Trading as
The Log Yard Hereford

Unaudited Financial Statements

for the Year Ended 28 February 2025






Programme Furniture Limited (Registered number: 02561253)
Trading as The Log Yard Hereford

Contents of the Financial Statements
for the Year Ended 28 February 2025










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Programme Furniture Limited
Trading as The Log Yard Hereford

Company Information
for the Year Ended 28 February 2025







DIRECTORS: SH Bolt
MA Bolt





SECRETARY: MA Bolt





REGISTERED OFFICE: Newcourt Farm
Huntington Lane
Hereford
Herefordshire
HR4 7RA





REGISTERED NUMBER: 02561253 (England and Wales)





ACCOUNTANTS: The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Programme Furniture Limited (Registered number: 02561253)


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Income and Retained Earnings and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Programme Furniture Limited for the year ended 28 February 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Programme Furniture Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Programme Furniture Limited and state those matters that we have agreed to state to the Board of Directors of Programme Furniture Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Programme Furniture Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Programme Furniture Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Programme Furniture Limited. You consider that Programme Furniture Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Programme Furniture Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF


22 May 2025

Programme Furniture Limited (Registered number: 02561253)
Trading as The Log Yard Hereford

Balance Sheet
28 February 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 505
Tangible assets 5 68,317 90,100
68,317 90,605

CURRENT ASSETS
Stocks 27,293 21,314
Debtors 6 14,870 9,022
Cash at bank 26,829 13,944
68,992 44,280
CREDITORS
Amounts falling due within one year 7 146,094 112,175
NET CURRENT LIABILITIES (77,102 ) (67,895 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(8,785

)

22,710

CREDITORS
Amounts falling due after more than one year 8 26,588 62,666
NET LIABILITIES (35,373 ) (39,956 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (35,375 ) (39,958 )
(35,373 ) (39,956 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Programme Furniture Limited (Registered number: 02561253)
Trading as The Log Yard Hereford

Balance Sheet - continued
28 February 2025


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2025 and were signed on its behalf by:





SH Bolt - Director


Programme Furniture Limited (Registered number: 02561253)
Trading as The Log Yard Hereford

Notes to the Financial Statements
for the Year Ended 28 February 2025


1. STATUTORY INFORMATION

Programme Furniture Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has net liabilities of £35,373 (2024 - £39,956) at the year end. Included within other creditors are £118,984 of funds owed to the current directors which are repayable on demand, but only if cash flows allow.

The directors have considered the cashflows for the 12 months from the date of approval of these accounts and consider that the company will continue to operate within its agreed finance facilities. The company has the continued support of its directors, and therefore the accounts are prepared on a going concern basis.

Turnover
Turnover represents wood sales stated net of discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when the significant risks and rewards of ownership have passed to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Wood sales are recognised when the product leaves the site.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs are amortised over their remaining useful life of a year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on 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.


Programme Furniture Limited (Registered number: 02561253)
Trading as The Log Yard Hereford

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES

The average number of employees during the year was 1 (2024 - 1 ) .

Programme Furniture Limited (Registered number: 02561253)
Trading as The Log Yard Hereford

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025


4. INTANGIBLE FIXED ASSETS
Website
costs
£   
COST
At 1 March 2024
and 28 February 2025 2,200
AMORTISATION
At 1 March 2024 1,695
Amortisation for year 505
At 28 February 2025 2,200
NET BOOK VALUE
At 28 February 2025 -
At 29 February 2024 505

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2024 124,744 168,495 20,101 2,299 315,639
Additions - 857 - - 857
Disposals - (1,263 ) - - (1,263 )
At 28 February 2025 124,744 168,089 20,101 2,299 315,233
DEPRECIATION
At 1 March 2024 118,914 93,636 11,151 1,838 225,539
Charge for year 827 18,751 2,237 115 21,930
Eliminated on disposal - (553 ) - - (553 )
At 28 February 2025 119,741 111,834 13,388 1,953 246,916
NET BOOK VALUE
At 28 February 2025 5,003 56,255 6,713 346 68,317
At 29 February 2024 5,830 74,859 8,950 461 90,100

The net book value of tangible fixed assets includes £37,864 (2024: £57,862) in respect of assets held under hire purchase contracts.

Programme Furniture Limited (Registered number: 02561253)
Trading as The Log Yard Hereford

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 14,870 9,022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other loans - 2,510
Hire purchase contracts 18,480 19,597
Trade creditors 3,442 6,827
Social security and other taxes - 76
VAT 2,688 1,884
Directors' current accounts 118,984 79,331
Accruals and deferred income 2,500 1,950
146,094 112,175

Hire purchase contracts are secured against the assets to which they relate.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Other loans - 1-5 years - 17,073
Other loans over 5 years - 523
Hire purchase contracts 26,588 45,070
26,588 62,666

Amounts falling due in more than five years:

Repayable by instalments
Other loans over 5 years - 523

9. RELATED PARTY DISCLOSURES

Included within creditors are directors current accounts of £118,984 (2024 £79,331). These are interest free and repayable on demand.