IRIS Accounts Production v25.1.3.33 08687869 Board of Directors Board of Directors 1.4.24 31.3.25 31.3.25 false true false false false true false A 0.10000 B 0.10000 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh086878692024-03-31086878692025-03-31086878692024-04-012025-03-31086878692023-03-31086878692023-04-012024-03-31086878692024-03-3108687869ns15:EnglandWales2024-04-012025-03-3108687869ns14:PoundSterling2024-04-012025-03-3108687869ns10:Director12024-04-012025-03-3108687869ns10:Director22024-04-012025-03-3108687869ns10:PrivateLimitedCompanyLtd2024-04-012025-03-3108687869ns10:SmallEntities2024-04-012025-03-3108687869ns10:AuditExempt-NoAccountantsReport2024-04-012025-03-3108687869ns10:SmallCompaniesRegimeForDirectorsReport2024-04-012025-03-3108687869ns10:SmallCompaniesRegimeForAccounts2024-04-012025-03-3108687869ns10:FullAccounts2024-04-012025-03-310868786912024-04-012025-03-3108687869ns10:OrdinaryShareClass12024-04-012025-03-3108687869ns10:OrdinaryShareClass22024-04-012025-03-3108687869ns10:OrdinaryShareClass32024-04-012025-03-3108687869ns5:CurrentFinancialInstruments2025-03-3108687869ns5:CurrentFinancialInstruments2024-03-3108687869ns5:ShareCapital2025-03-3108687869ns5:ShareCapital2024-03-3108687869ns5:RetainedEarningsAccumulatedLosses2025-03-3108687869ns5:RetainedEarningsAccumulatedLosses2024-03-3108687869ns10:RegisteredOffice2024-04-012025-03-3108687869ns5:NetGoodwill2024-04-012025-03-3108687869ns5:LandBuildingsns5:ShortLeaseholdAssets2024-04-012025-03-3108687869ns5:FurnitureFittings2024-04-012025-03-3108687869ns5:MotorVehicles2024-04-012025-03-3108687869ns5:ComputerEquipment2024-04-012025-03-3108687869ns5:NetGoodwill2024-03-3108687869ns5:NetGoodwill2025-03-3108687869ns5:NetGoodwill2024-03-3108687869ns5:LandBuildingsns5:ShortLeaseholdAssets2024-03-3108687869ns5:FurnitureFittings2024-03-3108687869ns5:MotorVehicles2024-03-3108687869ns5:ComputerEquipment2024-03-3108687869ns5:LandBuildingsns5:ShortLeaseholdAssets2025-03-3108687869ns5:FurnitureFittings2025-03-3108687869ns5:MotorVehicles2025-03-3108687869ns5:ComputerEquipment2025-03-3108687869ns5:LandBuildingsns5:ShortLeaseholdAssets2024-03-3108687869ns5:FurnitureFittings2024-03-3108687869ns5:MotorVehicles2024-03-3108687869ns5:ComputerEquipment2024-03-3108687869ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-3108687869ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3108687869ns5:WithinOneYear2025-03-3108687869ns5:WithinOneYear2024-03-3108687869ns5:BetweenOneFiveYears2025-03-3108687869ns5:BetweenOneFiveYears2024-03-3108687869ns5:AllPeriods2025-03-3108687869ns5:AllPeriods2024-03-3108687869ns5:AcceleratedTaxDepreciationDeferredTax2025-03-3108687869ns5:AcceleratedTaxDepreciationDeferredTax2024-03-3108687869ns5:DeferredTaxation2024-03-3108687869ns5:DeferredTaxation2024-04-012025-03-3108687869ns5:DeferredTaxation2025-03-3108687869ns10:OrdinaryShareClass12025-03-3108687869ns10:OrdinaryShareClass22025-03-31
REGISTERED NUMBER: 08687869 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

FOR

DAVID SALMON FURNISHERS LIMITED

DAVID SALMON FURNISHERS LIMITED (REGISTERED NUMBER: 08687869)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

Balance Sheet 1

Notes to the Financial Statements 3


DAVID SALMON FURNISHERS LIMITED (REGISTERED NUMBER: 08687869)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 54,000 72,000
Tangible assets 6 31,979 41,395
85,979 113,395

CURRENT ASSETS
Stocks 366,849 408,032
Debtors 7 52,269 66,739
Cash at bank and in hand 47,005 27,948
466,123 502,719
CREDITORS
Amounts falling due within one year 8 266,274 262,071
NET CURRENT ASSETS 199,849 240,648
TOTAL ASSETS LESS CURRENT
LIABILITIES

285,828

354,043

PROVISIONS FOR LIABILITIES 10 5,100 6,482
NET ASSETS 280,728 347,561

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 280,628 347,461
SHAREHOLDERS' FUNDS 280,728 347,561

DAVID SALMON FURNISHERS LIMITED (REGISTERED NUMBER: 08687869)

BALANCE SHEET - continued
31 MARCH 2025


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:




Mr P J Salmon - Director



Mrs E M Salmon - Director


DAVID SALMON FURNISHERS LIMITED (REGISTERED NUMBER: 08687869)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

David Salmon Furnishers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08687869

Registered office: 116 South Street
Eastbourne
East Sussex
BN21 4LZ

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Goodwill
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 20% straight line & 10% straight line

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - In accordance with lease term
Fixtures, fittings and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


DAVID SALMON FURNISHERS LIMITED (REGISTERED NUMBER: 08687869)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 13 ) .

DAVID SALMON FURNISHERS LIMITED (REGISTERED NUMBER: 08687869)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 239,000
AMORTISATION
At 1 April 2024 167,000
Amortisation for year 18,000
At 31 March 2025 185,000
NET BOOK VALUE
At 31 March 2025 54,000
At 31 March 2024 72,000

6. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Leasehold and Motor Computer
property equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2024
and 31 March 2025 9,828 48,036 43,806 9,308 110,978
DEPRECIATION
At 1 April 2024 8,817 26,231 27,473 7,062 69,583
Charge for year 886 3,271 4,084 1,175 9,416
At 31 March 2025 9,703 29,502 31,557 8,237 78,999
NET BOOK VALUE
At 31 March 2025 125 18,534 12,249 1,071 31,979
At 31 March 2024 1,011 21,805 16,333 2,246 41,395

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 9,110 18,677
Prepayments and accrued income 43,159 48,062
52,269 66,739

DAVID SALMON FURNISHERS LIMITED (REGISTERED NUMBER: 08687869)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 101,414 111,117
Corporation tax 1,746 4,835
PAYE and social security 6,322 6,460
VAT 54,007 55,803
Other creditors 93,062 74,972
Directors' current account 3 3
Accruals and deferred income 9,720 8,881
266,274 262,071

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£    £   
Within one year 86,946 112,538
Between one and five years 87,642 135,888
174,588 248,426

10. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax
Accelerated capital allowances 5,100 6,482

Deferred
tax
£   
Balance at 1 April 2024 6,482
Provided during year (1,382 )
Balance at 31 March 2025 5,100

DAVID SALMON FURNISHERS LIMITED (REGISTERED NUMBER: 08687869)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
800 A 0.10 80 80
200 B £0.10 20 20
NIL - -
100 100

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Loans to the directors are interest free and repayable on demand.

13. RELATED PARTY DISCLOSURES

During the year, the company paid rent to the directors of £40,000 (2023: £40,000) for use of a property owned by the directors.