REGISTERED NUMBER: 09352787 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LEICESTER OFFICE FURNISHERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs S C Leigh

REGISTERED OFFICE:

Unit 8 Woodgate Centre

74 Bradgate Street

Leicester

Leicestershire

LE4 0AW

REGISTERED NUMBER:

09352787 (England and Wales)

ACCOUNTANTS:

Armstrongs

Chartered Accountants

25 Station Road

Hinckley

Leicestershire

LE10 1AP

FIXED ASSETS

Intangible assets

4

634

1,539

Tangible assets

5

19,872

32,845

20,506

34,384

CURRENT ASSETS

Stocks

12,142

10,931

Debtors

6

108,148

166,246

Cash at bank and in hand

43,800

107,758

164,090

284,935

CREDITORS

Amounts falling due within one year

7

145,997

245,366

NET CURRENT ASSETS

18,093

39,569

TOTAL ASSETS LESS CURRENT LIABILITIES

38,599

73,953

CREDITORS

Amounts falling due after more than one year

8

37,223

62,214

NET ASSETS

1,376

11,739

CAPITAL AND RESERVES

Called up share capital

90

90

Retained earnings

1,286

11,649

SHAREHOLDERS' FUNDS

1,376

11,739

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 8 April 2025 and were signed by:

Mrs S C Leigh - Director

1.	STATUTORY INFORMATION

Leicester Office Furnishers Limited is a private company, limited by shares , registered in England and Wales. 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 4 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Website

development

costs

£

COST

At 1 January 2024

and 31 December 2024

21,634

AMORTISATION

At 1 January 2024

20,095

Amortisation for year

905

At 31 December 2024

21,000

NET BOOK VALUE

At 31 December 2024

634

At 31 December 2023

1,539

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

15,412

76,175

1,914

93,501

DEPRECIATION

At 1 January 2024

15,412

43,600

1,644

60,656

Charge for year

-

12,703

270

12,973

At 31 December 2024

15,412

56,303

1,914

73,629

NET BOOK VALUE

At 31 December 2024

-

19,872

-

19,872

At 31 December 2023

-

32,575

270

32,845

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

68,180

Transfer to ownership

(18,500

)

At 31 December 2024

49,680

DEPRECIATION

At 1 January 2024

35,605

Charge for year

11,778

Transfer to ownership

(17,575

)

At 31 December 2024

29,808

NET BOOK VALUE

At 31 December 2024

19,872

At 31 December 2023

32,575

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

62,840

131,554

Other debtors

45,308

34,692

108,148

166,246

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

19,875

19,875

Hire purchase contracts

4,494

7,288

Trade creditors

86,491

178,734

Lloyds factoring funds reserve

-

4,483

Corporation tax

3,741

11,234

Social security and other taxes

1,909

1,521

Pension

564

413

VAT

8,967

17,310

Other creditors

15,814

566

Accrued expenses

4,142

3,942

145,997

245,366

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

10,137

19,875

Bank loans - 2-5 years

-

10,759

Hire purchase contracts

27,086

31,580

37,223

62,214