2023-11-012024-10-312024-10-31false09904212A-Z Furniture Solutions 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A-Z Furniture Solutions Limited

Registered Number
09904212
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

A-Z Furniture Solutions Limited
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

N Brown
P Collins
A Woods

Registered Address

12 Tentercroft Street
Lincoln
LN5 7DB

Place of Business

Tally Ho Yard

Lincoln Road

Blankney

Lincoln

LN4 3AZ


Registered Number

09904212 (England and Wales)
A-Z Furniture Solutions Limited
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets310,27113,771
10,27113,771
Current assets
Stocks445,000-
Debtors5138,475163,683
Cash at bank and on hand109,850145,218
293,325308,901
Creditors amounts falling due within one year6(30,342)(25,069)
Net current assets (liabilities)262,983283,832
Total assets less current liabilities273,254297,603
Creditors amounts falling due after one year7(5,058)(15,689)
Provisions for liabilities8(1,951)(3,098)
Net assets266,245278,816
Capital and reserves
Called up share capital110110
Profit and loss account266,135278,706
Shareholders' funds266,245278,816
The financial statements were approved and authorised for issue by the Board of Directors on 2 April 2025, and are signed on its behalf by:
A Woods
Director
Registered Company No. 09904212
A-Z Furniture Solutions Limited
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Borrowing costs
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings15
Vehicles25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Vehicles

Fixtures & fittings

Total

£££
Cost or valuation
At 01 November 2320,00083620,836
At 31 October 2420,00083620,836
Depreciation and impairment
At 01 November 236,5005657,065
Charge for year3,3751253,500
At 31 October 249,87569010,565
Net book value
At 31 October 2410,12514610,271
At 31 October 2313,50027113,771
4.Stocks

2024

2023

££
Work in progress45,000-
Total45,000-
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables42,78741,479
Amounts owed by associates and joint ventures / participating interests43,29334,198
Other debtors52,39558,006
Prepayments and accrued income-30,000
Total138,475163,683
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables9,639474
Bank borrowings and overdrafts10,3819,875
Taxation and social security1,3272,301
Other creditors8,99512,419
Total30,34225,069
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts5,05815,689
Total5,05815,689
Bounce back loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 18 May 2026. The carrying amount at year end is £15,439 (2023 - £25,564).
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,9513,098
Total1,9513,098
9.Parent-subsidiary relationships
The company is a member of a group and the ultimate controlling party is A-Z D&F Holdings Ltd, which holds 91% of the company share capital. Mr Antony Woods, one of the company directors and his wife, hold 100% of the issued share capital of A-Z D&F Holdings Ltd. As the group is classed as a small group, there is no requirement to prepare consolidated accounts for the group under section 399 of the Companies Act 2006 and the company is reporting its results as a separate entity. Included in the profit and loss account are management charges payable of £75,001 (2023 - £70,000) payable to A-Z Design Solutions Limited, a company wholly owned by A-Z D&F Holdings Ltd.
10.Further information regarding the company's financial position
Restatement of Prior Year Balance Sheet The comparative figures for the year ended 31st October 2023 have been restated.