IRIS Accounts Production v25.1.4.42 04876159 Board of Directors 1.10.23 30.9.24 30.9.24 false true false false false true false 13439 25200 56900 52453 34326 64214 36013 13439 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh048761592023-09-30048761592024-09-30048761592023-10-012024-09-30048761592022-09-30048761592022-10-012023-09-30048761592023-09-3004876159ns15:EnglandWales2023-10-012024-09-3004876159ns14:PoundSterling2023-10-012024-09-3004876159ns10:Director12023-10-012024-09-3004876159ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3004876159ns10:SmallEntities2023-10-012024-09-3004876159ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3004876159ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3004876159ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3004876159ns10:FullAccounts2023-10-012024-09-300487615912023-10-012024-09-3004876159ns10:Director2422023-09-3004876159ns10:Director2422022-09-3004876159ns10:Director2422023-10-012024-09-3004876159ns10:Director2422022-10-012023-09-3004876159ns10:Director2422024-09-3004876159ns10:Director2422023-09-3004876159ns10:Director22023-10-012024-09-3004876159ns10:RegisteredOffice2023-10-012024-09-3004876159ns5:CurrentFinancialInstruments2024-09-3004876159ns5:CurrentFinancialInstruments2023-09-3004876159ns5:Non-currentFinancialInstruments2024-09-3004876159ns5:Non-currentFinancialInstruments2023-09-3004876159ns5:ShareCapital2024-09-3004876159ns5:ShareCapital2023-09-3004876159ns5:RetainedEarningsAccumulatedLosses2024-09-3004876159ns5:RetainedEarningsAccumulatedLosses2023-09-3004876159ns5:NetGoodwill2023-10-012024-09-3004876159ns5:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-3004876159ns5:LandBuildingsns5:ShortLeaseholdAssets2023-10-012024-09-3004876159ns5:FurnitureFittings2023-10-012024-09-3004876159ns5:ComputerEquipment2023-10-012024-09-3004876159ns5:NetGoodwill2023-09-3004876159ns5:NetGoodwill2024-09-3004876159ns5:NetGoodwill2023-09-3004876159ns5:LandBuildings2023-09-3004876159ns5:PlantMachinery2023-09-3004876159ns5:LandBuildings2023-10-012024-09-3004876159ns5:PlantMachinery2023-10-012024-09-3004876159ns5:LandBuildings2024-09-3004876159ns5:PlantMachinery2024-09-3004876159ns5:LandBuildings2023-09-3004876159ns5:PlantMachinery2023-09-3004876159ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3004876159ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3004876159ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-09-3004876159ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-09-3004876159ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-09-3004876159ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-09-30048761591ns10:Director12023-09-30048761591ns10:Director12022-09-30048761591ns10:Director12023-10-012024-09-30048761591ns10:Director12022-10-012023-09-30048761591ns10:Director12024-09-30048761591ns10:Director12023-09-30
REGISTERED NUMBER: 04876159 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Sunderland Furniture Centre Limited

Sunderland Furniture Centre Limited (Registered number: 04876159)






Contents of the Financial Statements
for the year ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Sunderland Furniture Centre Limited

Company Information
for the year ended 30 September 2024







DIRECTORS: K Urwin
D Urwin



REGISTERED OFFICE: Units 3-4
9 Station Road
Fulwell
Sunderland
SR6 9AA



REGISTERED NUMBER: 04876159 (England and Wales)



ACCOUNTANTS: TTR Barnes Limited
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG



BANKERS: National Westminster Bank Plc
52 Fawcett Street
Sunderland
Tyne and Wear
SR1 1SB

Sunderland Furniture Centre Limited (Registered number: 04876159)

Statement of Financial Position
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,527 4,214
3,527 4,214

CURRENT ASSETS
Stocks 6 48,588 43,633
Debtors 7 41,690 17,442
Cash at bank and in hand 31 20,504
90,309 81,579
CREDITORS
Amounts falling due within one year 8 87,394 70,907
NET CURRENT ASSETS 2,915 10,672
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,442

14,886

CREDITORS
Amounts falling due after more than one
year

9

(5,624

)

(13,889

)

PROVISIONS FOR LIABILITIES (670 ) (807 )
NET ASSETS 148 190

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 48 90
SHAREHOLDERS' FUNDS 148 190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.

Sunderland Furniture Centre Limited (Registered number: 04876159)

Statement of Financial Position - continued
30 September 2024


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 19 June 2025 and were signed on its behalf by:





K Urwin - Director


Sunderland Furniture Centre Limited (Registered number: 04876159)

Notes to the Financial Statements
for the year ended 30 September 2024

1. STATUTORY INFORMATION

Sunderland Furniture Centre 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 financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider to be appropriate .

Turnover
Turnover represents net sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over 20 years
Fixtures and fittings - 10% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

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 statement of financial position date.


Sunderland Furniture Centre Limited (Registered number: 04876159)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 84,000
AMORTISATION
At 1 October 2023
and 30 September 2024 84,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

Sunderland Furniture Centre Limited (Registered number: 04876159)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 1,672 9,427 11,099
Additions - 490 490
At 30 September 2024 1,672 9,917 11,589
DEPRECIATION
At 1 October 2023 1,672 5,213 6,885
Charge for year - 1,177 1,177
At 30 September 2024 1,672 6,390 8,062
NET BOOK VALUE
At 30 September 2024 - 3,527 3,527
At 30 September 2023 - 4,214 4,214

6. STOCKS
2024 2023
£    £   
Stocks 48,588 43,633

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,699 509
Other debtors 39,991 16,933
41,690 17,442

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 16,123 8,060
Trade creditors 62,137 43,073
Taxation and social security 6,129 16,492
Other creditors 3,005 3,282
87,394 70,907

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 10) 5,624 13,889

Sunderland Furniture Centre Limited (Registered number: 04876159)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 7,859 -
Bank loans 8,264 8,060
16,123 8,060

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,624 8,265

Amounts falling due between two and five years:
Bank loans - 2-5 years - 5,624

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
K Urwin and D Urwin
Balance outstanding at start of year 13,439 25,200
Amounts advanced 56,900 52,453
Amounts repaid (34,326 ) (64,214 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 36,013 13,439