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Company Registration No. 10161569 (England and Wales)
ADMIRE'S FURNISHINGS LTD Unaudited accounts for the year ended 31 May 2024
ADMIRE'S FURNISHINGS LTD Unaudited accounts Contents
Page
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ADMIRE'S FURNISHINGS LTD Company Information for the year ended 31 May 2024
Director
Adama Kamara
Secretary
Adama kamara
Company Number
10161569 (England and Wales)
Registered Office
20 VICTORY WALK LONDON SE8 4ES ENGLAND
Accountants
D K OBENG GROUP 120 DALMALLY ROAD CROYDON CR0 6LT
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of ADMIRE'S FURNISHINGS LTD for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ADMIRE'S FURNISHINGS LTD for the year ended 31 May 2024 as set out on pages 5 - 8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of ADMIRE'S FURNISHINGS LTD, as a body, in accordance with the terms of our engagement letter dated 28 December 2021. Our work has been undertaken solely to prepare for your approval the accounts of ADMIRE'S FURNISHINGS LTD and state those matters that we have agreed to state to the Board of Directors of ADMIRE'S FURNISHINGS LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ADMIRE'S FURNISHINGS LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that ADMIRE'S FURNISHINGS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of ADMIRE'S FURNISHINGS LTD. You consider that ADMIRE'S FURNISHINGS LTD 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 accounts of ADMIRE'S FURNISHINGS LTD. 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 accounts.
D K OBENG GROUP Chartered Certified Accountants 120 DALMALLY ROAD CROYDON CR0 6LT 23 May 2025
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ADMIRE'S FURNISHINGS LTD Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,176 
1,780 
Current assets
Inventories
22,534 
43,085 
Debtors
3,992 
27,561 
Cash at bank and in hand
(5)
3,942 
26,521 
74,588 
Creditors: amounts falling due within one year
(37,034)
(51,095)
Net current (liabilities)/assets
(10,513)
23,493 
Total assets less current liabilities
(9,337)
25,273 
Creditors: amounts falling due after more than one year
(8,060)
(10,400)
Provisions for liabilities
Deferred tax
(224)
(338)
Net (liabilities)/assets
(17,621)
14,535 
Capital and reserves
Profit and loss account
(17,621)
14,535 
Shareholders' funds
(17,621)
14,535 
For the year ending 31 May 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 May 2025 and were signed on its behalf by
Adama Kamara Director Company Registration No. 10161569
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ADMIRE'S FURNISHINGS LTD Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
ADMIRE'S FURNISHINGS LTD is a private company, limited by shares, registered in England and Wales, registration number 10161569. The registered office is 20 VICTORY WALK, LONDON, SE8 4ES, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line
Computer equipment
33.33% Straight Line
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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ADMIRE'S FURNISHINGS LTD Notes to the Accounts for the year ended 31 May 2024
Going concern
The Financial Statements have been prepared on a going concern basis, despite the company's balance sheet showing net liabilities of £17,621. This does not indicate that the company may be unable to continue trading. Based on the current forecasts the directors have indicated that they have the resources to make funds available to the company to enable it to meet its debts as and when they fall due for a period of at least twelve months from the date of approval of these financial statements and they are of the opinion that the going concern basis is appropriate.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
2,345 
712 
3,057 
At 31 May 2024
2,345 
712 
3,057 
Depreciation
At 1 June 2023
794 
483 
1,277 
Charge for the year
493 
111 
604 
At 31 May 2024
1,287 
594 
1,881 
Net book value
At 31 May 2024
1,058 
118 
1,176 
At 31 May 2023
1,551 
229 
1,780 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
992 
20,353 
Other debtors
3,000 
7,208 
3,992 
27,561 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
2,200 
2,200 
VAT
3,354 
11,854 
Trade creditors
10,644 
- 
Taxes and social security
4,136 
4,037 
Other creditors
10,000 
6,560 
Loans from directors
6,700 
24,944 
Accruals
- 
1,500 
37,034 
51,095 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
8,060 
10,400 
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ADMIRE'S FURNISHINGS LTD Notes to the Accounts for the year ended 31 May 2024
8
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 May 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
25,000 
25,000 
Later than one year and not later than five years
16,667 
41,667 
41,667 
66,667 
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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