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REGISTERED NUMBER: SC348346 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Sams Furniture Ltd

Sams Furniture Ltd (Registered number: SC348346)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sams Furniture Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTOR: H H Salim



SECRETARY: H H Salim



REGISTERED OFFICE: 118 High Street
Wick
Caithness
KW1 7LR



REGISTERED NUMBER: SC348346 (Scotland)



ACCOUNTANTS: Reid & Fraser
Chartered Accountants
92 High Street
Wick
Caithness
KW1 4LY



BANKERS: Bank of Scotland
600 Gorgie Road
Edinburgh
EH11 3XP

Sams Furniture Ltd (Registered number: SC348346)

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 264,613 265,362

CURRENT ASSETS
Stocks 201,340 240,953
Debtors 5 48,058 27,229
Cash at bank and in hand 365,352 331,368
614,750 599,550
CREDITORS
Amounts falling due within one year 6 (202,447 ) (213,336 )
NET CURRENT ASSETS 412,303 386,214
TOTAL ASSETS LESS CURRENT
LIABILITIES

676,916

651,576

CREDITORS
Amounts falling due after more than one
year

7

(105,791

)

(135,272

)

PROVISIONS FOR LIABILITIES 8 (4,015 ) -
NET ASSETS 567,110 516,304

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 567,010 516,204
SHAREHOLDERS' FUNDS 567,110 516,304

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 director acknowledges his 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.

Sams Furniture Ltd (Registered number: SC348346)

Balance Sheet - 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 June 2025 and were signed by:





H H Salim - Director


Sams Furniture Ltd (Registered number: SC348346)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Sams Furniture Ltd is a private company, limited by shares , registered in Scotland. 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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% reducing balance and 15% 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.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

Sams Furniture Ltd (Registered number: SC348346)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 264,555 51,125 315,680
Additions 3,446 5,163 8,609
At 30 September 2024 268,001 56,288 324,289
DEPRECIATION
At 1 October 2023 15,412 34,906 50,318
Charge for year 5,051 4,307 9,358
At 30 September 2024 20,463 39,213 59,676
NET BOOK VALUE
At 30 September 2024 247,538 17,075 264,613
At 30 September 2023 249,143 16,219 265,362

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 43,749 27,229
Amounts owed by associates 4,309 -
48,058 27,229

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 15,272 -
Trade creditors 35,091 146,651
Taxation and social security 51,954 41,638
Other creditors 100,130 25,047
202,447 213,336

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 105,791 135,272

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 4,015 -

Sams Furniture Ltd (Registered number: SC348346)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Charge to Income Statement during year 4,015
Balance at 30 September 2024 4,015