Company registration number 05906491 (England and Wales)
LANCASHIRE UPHOLSTERY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
LANCASHIRE UPHOLSTERY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
LANCASHIRE UPHOLSTERY LTD
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,741
3,656
Current assets
Stocks
2,500
2,700
Debtors
4
1,892
1,288
Cash at bank and in hand
269
4,053
4,661
8,041
Creditors: amounts falling due within one year
5
(4,319)
(5,960)
Net current assets
342
2,081
Total assets less current liabilities
3,083
5,737
Creditors: amounts falling due after more than one year
6
(1,480)
(3,472)
Provisions for liabilities
(521)
(695)
Net assets
1,082
1,570
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
82
570
Total equity
1,082
1,570
LANCASHIRE UPHOLSTERY LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2025
31 January 2025
- 2 -

For the financial year ended 31 January 2025 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 15 July 2025 and are signed on its behalf by:
Mr P D Baker
Director
Company registration number 05906491 (England and Wales)
LANCASHIRE UPHOLSTERY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information

Lancashire Upholstery Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 69 Ashton Road, Southport, Merseyside, United Kingdom, PR8 4QF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

LANCASHIRE UPHOLSTERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax has not been discounted.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 February 2024 and 31 January 2025
2,086
10,995
13,081
Depreciation and impairment
At 1 February 2024
1,908
7,517
9,425
Depreciation charged in the year
45
870
915
At 31 January 2025
1,953
8,387
10,340
Carrying amount
At 31 January 2025
133
2,608
2,741
At 31 January 2024
178
3,478
3,656
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,800
1,200
Other debtors
92
88
1,892
1,288
LANCASHIRE UPHOLSTERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 5 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
2,041
2,041
Corporation tax
317
2,046
Other creditors
1,961
1,873
4,319
5,960
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,480
3,472
2025-01-312024-02-01falsefalsefalse15 July 2025CCH SoftwareCCH Accounts Production 2025.100re-upholstery
Mr P D BakerMrs D A Owen-BakerD A Owen-Baker
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