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Registration number: 06934006

James Winby Furniture Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

James Winby Furniture Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

James Winby Furniture Limited

Company Information

Director

Mr J Winby

Registered office

The Barn Rushmore Farm
Tollard Royal
Salisbury
Wiltshire
SP5 5QA

Accountants

Numeric Accounting
Chartered Certified AccountantsSuite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

James Winby Furniture Limited

(Registration number: 06934006)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

14,933

18,882

Current assets

 

Stocks

6

75,675

64,863

Debtors

7

19,674

1,208

Cash at bank and in hand

 

46,569

16,303

 

141,918

82,374

Creditors: Amounts falling due within one year

8

(64,424)

(51,032)

Net current assets

 

77,494

31,342

Total assets less current liabilities

 

92,427

50,224

Creditors: Amounts falling due after more than one year

8

(1,375)

(6,404)

Provisions for liabilities

(3,256)

(3,413)

Net assets

 

87,796

40,407

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

87,696

40,307

Shareholders' funds

 

87,796

40,407

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 July 2025
 

 

James Winby Furniture Limited

(Registration number: 06934006)
Balance Sheet as at 31 March 2025 (continued)

.........................................
Mr J Winby
Director

 

James Winby Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
The Barn Rushmore Farm
Tollard Royal
Salisbury
Wiltshire
SP5 5QA

These financial statements were authorised for issue by the director on 28 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

James Winby Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold Property

25% Reducing Balance

Plant and Machinery

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Computer Equipment

33% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

James Winby Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2024 - 2).

 

James Winby Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

9,000

9,000

At 31 March 2025

9,000

9,000

Amortisation

At 1 April 2024

9,000

9,000

At 31 March 2025

9,000

9,000

Carrying amount

At 31 March 2025

-

-

5

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
£

Computer equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2024

510

44,769

6,985

17,490

Additions

-

-

1,250

-

At 31 March 2025

510

44,769

8,235

17,490

Depreciation

At 1 April 2024

389

36,218

4,973

9,292

Charge for the year

30

2,138

982

2,049

At 31 March 2025

419

38,356

5,955

11,341

Carrying amount

At 31 March 2025

91

6,413

2,280

6,149

At 31 March 2024

121

8,551

2,012

8,198

 

James Winby Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

5

Tangible assets (continued)

Total
£

Cost or valuation

At 1 April 2024

69,754

Additions

1,250

At 31 March 2025

71,004

Depreciation

At 1 April 2024

50,872

Charge for the year

5,199

At 31 March 2025

56,071

Carrying amount

At 31 March 2025

14,933

At 31 March 2024

18,882

Included within the net book value of land and buildings above is £91 (2024 - £121) in respect of short leasehold land and buildings.
 

6

Stocks

2025
£

2024
£

Raw materials and consumables

10,000

10,000

Work in progress

9,425

5,000

Other inventories

56,250

49,863

75,675

64,863

7

Debtors

Current

2025
£

2024
£

Trade debtors

19,477

960

Prepayments

197

248

 

19,674

1,208

 

James Winby Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Bounce Back Loan < 1 Year

10

5,500

5,971

Trade creditors

 

4,185

9,235

Taxation and social security

 

27,181

9,767

Accruals and deferred income

 

1,468

2,776

Other creditors

 

26,090

23,283

 

64,424

51,032

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Bounce back loan > 1 Year

10

1,375

6,404

9

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

James Winby Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

10

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

1,375

6,404

Current loans and borrowings

2025
£

2024
£

Bank borrowings

5,500

5,971

 

James Winby Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

11

Dividends

Interim dividends paid

2025
£

2024
£

Interim dividends of £241.00 (2024 - £216.00) per each Ordinary

24,100

21,600

 

 

12

Related party transactions

2025

At 1 April 2024
£

Advances to director
£

At 31 March 2025
£

Mr J Winby

Loan from Director is interest free and repayable on demand.

(2,283)

594

(1,689)

Loan from Director's mother is interest free and repayable on demand.

(21,000)

-

(21,000)

(23,283)

594

(22,689)

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

Mr J Winby

Loan from Director is interest free and repayable on demand.

(2,544)

261

(2,283)

Loan from Director's mother is interest free and repayable on demand.

(21,000)

-

(21,000)

(23,544)

261

(23,283)