BrightAccountsProduction v1.0.0 v1.0.0 2023-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the manufacture and installation of kitchens. 28 July 2025 6 6 NI073999 2024-10-31 NI073999 2023-10-31 NI073999 2022-10-31 NI073999 2023-11-01 2024-10-31 NI073999 2022-11-01 2023-10-31 NI073999 uk-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 NI073999 uk-curr:PoundSterling 2023-11-01 2024-10-31 NI073999 uk-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 NI073999 uk-bus:FullAccounts 2023-11-01 2024-10-31 NI073999 uk-core:ShareCapital 2024-10-31 NI073999 uk-core:ShareCapital 2023-10-31 NI073999 uk-core:RetainedEarningsAccumulatedLosses 2024-10-31 NI073999 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI073999 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-10-31 NI073999 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 NI073999 uk-bus:FRS102 2023-11-01 2024-10-31 NI073999 uk-core:Goodwill 2023-11-01 2024-10-31 NI073999 uk-core:PlantMachinery 2023-11-01 2024-10-31 NI073999 uk-core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 NI073999 uk-core:MotorVehicles 2023-11-01 2024-10-31 NI073999 uk-core:Goodwill 2023-10-31 NI073999 uk-core:Goodwill 2024-10-31 NI073999 uk-core:CurrentFinancialInstruments 2024-10-31 NI073999 uk-core:CurrentFinancialInstruments 2023-10-31 NI073999 uk-core:WithinOneYear 2024-10-31 NI073999 uk-core:WithinOneYear 2023-10-31 NI073999 uk-core:WithinOneYear 2024-10-31 NI073999 uk-core:WithinOneYear 2023-10-31 NI073999 uk-core:AfterOneYear 2024-10-31 NI073999 uk-core:AfterOneYear 2023-10-31 NI073999 uk-core:AfterOneYear 2024-10-31 NI073999 uk-core:AfterOneYear 2023-10-31 NI073999 uk-core:WithinOneYear 2024-10-31 NI073999 uk-core:WithinOneYear 2023-10-31 NI073999 uk-core:BetweenOneTwoYears 2024-10-31 NI073999 uk-core:BetweenOneTwoYears 2023-10-31 NI073999 uk-core:BetweenTwoFiveYears 2024-10-31 NI073999 uk-core:BetweenTwoFiveYears 2023-10-31 NI073999 uk-core:BetweenOneFiveYears 2024-10-31 NI073999 uk-core:BetweenOneFiveYears 2023-10-31 NI073999 uk-core:OtherMiscellaneousReserve 2023-10-31 NI073999 uk-core:OtherMiscellaneousReserve 2023-11-01 2024-10-31 NI073999 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-10-31 NI073999 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-10-31 NI073999 uk-core:OtherDeferredTax 2024-10-31 NI073999 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-10-31 NI073999 uk-core:OtherMiscellaneousReserve 2024-10-31 NI073999 2023-11-01 2024-10-31 NI073999 uk-bus:CompanySecretaryDirector1 2023-11-01 2024-10-31 NI073999 uk-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
Company Registration Number: NI073999
 
 
Hollywood Furnishings Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 October 2024
Hollywood Furnishings Limited
Company Registration Number: NI073999
BALANCE SHEET
as at 31 October 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 5 66,830 61,733
───────── ─────────
 
Current Assets
Stocks 6 69,842 88,755
Debtors 7 48,138 26,268
Cash and cash equivalents 12,032 4,802
───────── ─────────
130,012 119,825
───────── ─────────
Creditors: amounts falling due within one year 8 (73,518) (61,126)
───────── ─────────
Net Current Assets 56,494 58,699
───────── ─────────
Total Assets less Current Liabilities 123,324 120,432
 
Creditors:
amounts falling due after more than one year 9 (29,865) (32,863)
 
Provisions for liabilities 11 (16,709) (10,031)
 
Government grants 12 (9,817) (12,271)
───────── ─────────
Net Assets 66,933 65,267
═════════ ═════════
 
Capital and Reserves
Called up share capital 1 1
Retained earnings 66,932 65,266
───────── ─────────
Equity attributable to owners of the company 66,933 65,267
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 28 July 2025 and signed on its behalf by
           
           
________________________________          
Mrs. Dolores Hollywood          
Director          
           



Hollywood Furnishings Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 October 2024

   
1. General Information
 
Hollywood Furnishings Limited is a company limited by shares incorporated in Northern Ireland. 24 Fallagh Road, Mountfield, Omagh, Co Tyrone is the registered office, which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 October 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Reducing Balance
  Fixtures, fittings and equipment - 20% Reducing Balance
  Motor vehicles - 25% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2024 2023
  Number Number
 
Average No of Employees 6 6
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 November 2023 18,180 18,180
  ───────── ─────────
 
At 31 October 2024 18,180 18,180
  ───────── ─────────
Amortisation
 
At 31 October 2024 18,180 18,180
  ───────── ─────────
Net book value
At 31 October 2024 - -
  ═════════ ═════════
           
5. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost or Valuation
At 1 November 2023 151,730 26,265 37,350 215,345
Additions - 141 29,300 29,441
Disposals - (50) (11,400) (11,450)
  ───────── ───────── ───────── ─────────
At 31 October 2024 151,730 26,356 55,250 233,336
  ───────── ───────── ───────── ─────────
Depreciation
At 1 November 2023 121,468 15,336 16,808 153,612
Charge for the financial year 6,053 2,214 11,258 19,525
On disposals - (40) (6,591) (6,631)
  ───────── ───────── ───────── ─────────
At 31 October 2024 127,521 17,510 21,475 166,506
  ───────── ───────── ───────── ─────────
Net book value
At 31 October 2024 24,209 8,846 33,775 66,830
  ═════════ ═════════ ═════════ ═════════
At 31 October 2023 30,262 10,929 20,542 61,733
  ═════════ ═════════ ═════════ ═════════
       
6. Stocks 2024 2023
  £ £
 
Finished goods and goods for resale 69,842 88,755
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Debtors 2024 2023
  £ £
 
Trade debtors 47,430 24,463
Taxation  (Note 10) 708 1,805
  ───────── ─────────
  48,138 26,268
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bounce back loan 10,000 10,100
Payments received on account 9,664 9,664
Net obligations under finance leases
and hire purchase contracts 10,905 6,618
Trade creditors 36,910 27,779
Taxation  (Note 10) 1,749 1,187
Other creditors 1,078 2,555
Accruals:
Pension accrual 312 323
Other accruals 2,900 2,900
  ───────── ─────────
  73,518 61,126
  ═════════ ═════════
       
9. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan 6,785 17,142
Director loan 36 4,032
Finance leases and hire purchase contracts 23,044 11,689
  ───────── ─────────
  29,865 32,863
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 8) 10,000 10,100
Repayable between one and two years 6,821 10,360
Repayable between two and five years - 10,814
  ───────── ─────────
  16,821 31,274
  ═════════ ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 10,905 6,618
Repayable between one and five years 23,044 11,689
  ───────── ─────────
  33,949 18,307
  ═════════ ═════════
 
Included in Other Loans is a loan that is personally guaranteed by the director's wife.
       
10. Taxation 2024 2023
  £ £
 
Debtors:
VAT 708 1,805
  ═════════ ═════════
Creditors:
Corporation tax 668 -
PAYE / NI 1,081 1,187
  ───────── ─────────
  1,749 1,187
  ═════════ ═════════
           
11. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total Total
  allowances      
         
      2024 2023
  £ £ £ £
 
At financial year start 11,730 (1,699) 10,031 11,458
Charged to profit and loss 4,979 1,699 6,678 (1,427)
  ───────── ───────── ───────── ─────────
At financial year end 16,709 - 16,709 10,031
  ═════════ ═════════ ═════════ ═════════
       
12. Government Grants Deferred 2024 2023
  £ £
 
Capital grants received and receivable
At 1 November 2023 56,584 56,584
  ───────── ─────────
Amortisation
At 1 November 2023 (44,313) (41,245)
Amortised in financial year (2,454) (3,068)
  ───────── ─────────
 
At 31 October 2024 (46,767) (44,313)
  ───────── ─────────
Net book value
At 31 October 2024 9,817 12,271
  ═════════ ═════════
At 1 November 2023 12,271 15,339
  ═════════ ═════════
           
13. Related party transactions
 
At the start of the year the director of Hollywood Furnishings Ltd was owed £4,032 from the company. During the year the company borrowed a further £15,939 and repaid £19,935 to the director. At the year end, the amount owed to the director from Hollywood Furnishings Ltd is £36 (2023: £4,032). This balance is included in the creditors section of the balance sheet.