Registration number: 06942622

Fact Furniture Limited (FORMERLY Salt and Pegram Limited)

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Financial Statements	4 to 8

Fact Furniture Limited (FORMERLY Salt and Pegram Limited)

Company Information

Directors

D S L Pegram E L Pegram

Registered office

63-65 Princelet Street London E1 5LP

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Fact Furniture Limited (FORMERLY Salt and Pegram Limited)

Statement of Financial Position as at 30 June 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	8,225	10,993
Current assets
Stocks	6	46,507	109,894
Debtors	7	792,292	1,017,525
Cash at bank and in hand		556,820	710,017
		1,395,619	1,837,436
Creditors: Amounts falling due within one year	8	(375,359)	(726,555)
Net current assets		1,020,260	1,110,881
Total assets less current liabilities		1,028,485	1,121,874
Creditors: Amounts falling due after more than one year	8	(8,306)	(108,306)
Provisions for liabilities		(2,082)	(2,748)
Net assets		1,018,097	1,010,820
Capital and reserves
Called up share capital		1,000	1,000
Capital redemption reserve		2,000	2,000
Retained earnings		1,015,097	1,007,820
Shareholders' funds		1,018,097	1,010,820

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Fact Furniture Limited (FORMERLY Salt and Pegram Limited)

Statement of Financial Position as at 30 June 2025

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Fact Furniture Limited have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

Company registration number: 06942622

Approved and authorised by the Board on 5 September 2025 and signed on its behalf by:
 

.........................................

D S L Pegram

Director

Fact Furniture Limited (FORMERLY Salt and Pegram Limited)

Notes to the Financial Statements for the Year Ended 30 June 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
63-65 Princelet Street
London
E1 5LP

The principal activity of the company is that of the supply of office furniture.

2	Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 30 June 2025 and had net assets of £1,018,097 at that date including cash at bank of £556,820.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered in the normal course of the company's business, stated net of discounts and of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Fact Furniture Limited (FORMERLY Salt and Pegram Limited)

Notes to the Financial Statements for the Year Ended 30 June 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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:

Fact Furniture Limited (FORMERLY Salt and Pegram Limited)

Notes to the Financial Statements for the Year Ended 30 June 2025

Asset class	Depreciation method and rate
Leasehold property improvements	over length of lease
Furniture, fittings and equipment	25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company during the year, was 9 (2024 - 9).

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	4,450	3,271

Fact Furniture Limited (FORMERLY Salt and Pegram Limited)

Notes to the Financial Statements for the Year Ended 30 June 2025

5	Tangible assets

	Leasehold property improvements £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 July 2024	77,543	41,528	119,071
Additions	670	1,600	2,270
Disposals	-	(600)	(600)
At 30 June 2025	78,213	42,528	120,741
Depreciation
At 1 July 2024	75,215	32,863	108,078
Charge for the year	585	3,865	4,450
Eliminated on disposal	-	(12)	(12)
At 30 June 2025	75,800	36,716	112,516
Carrying amount
At 30 June 2025	2,413	5,812	8,225
At 30 June 2024	2,328	8,665	10,993

6

Stocks

	2025 £	2024 £
Stock	46,507	109,894

7

Debtors

	2025 £	2024 £
Trade debtors	761,108	988,762
Other debtors	31,184	28,763
	792,292	1,017,525

Fact Furniture Limited (FORMERLY Salt and Pegram Limited)

Notes to the Financial Statements for the Year Ended 30 June 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Bank loans and overdrafts	9	108,333	108,333
Trade creditors		104,623	85,543
Taxation and social security		101,099	99,585
Other creditors		61,304	433,094
		375,359	726,555

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Loans and borrowings	9	8,306	108,306

9	Loans and borrowings

	2025 £	2024 £
Current loans and borrowings
Bank loan	108,333	108,333