REGISTERED NUMBER: 02978393 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 SEPTEMBER 2024

FOR

STOLLERS FURNITURE WORLD LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

17

DIRECTORS:

L.D Stoller

Mrs C M Stoller

REGISTERED OFFICE:

Walney Road

Barrow in Furness

Cumbria

LA14 5UN

REGISTERED NUMBER:

02978393 (England and Wales)

AUDITORS:

Momentum Taxation and Accountancy Ltd

-Statutory Auditor

Harelands Courtyard Offices

Moor Road

Melsonby

Richmond

North Yorkshire

DL10 5NY

BANKERS:

National Westminster Bank Plc

113 Dalton Road

Barrow in Furness

Cumbria

LA14 1WY

The directors present their strategic report for the period 1 September 2023 to 30 September 2024.

REVIEW OF BUSINESS

The company trades in the retail sector selling high end, quality furniture in store and online.

The year under review presented challenges, with increased costs and a competitive trading environment placing pressure on margins. Despite these conditions, the company maintained resilient performance through prudent cost management, careful stock control, and a continued focus on customer service. Investment in the showroom, online presence and sustainability initiatives has strengthened the business and positioned it well for future growth.

PRINCIPAL RISKS AND UNCERTAINTIES

The company is exposed to risks from economic conditions, consumer demand and supply chain disruption, as well as the fixed costs of operating a large showroom.

Management seeks to mitigate these through strong supplier relationships, prudent cost control and by differentiating the business through its commitment to sustainability and investment in green technology.

BUSINESS DEVELOPMENT

Even though we have seen difficult market condition this year, we are well positioned for the economic market upturn and continually strive to become more competitive as well as increase our environmental commitments.

We strive to be energy efficient and ultimately to be carbon neutral. In the period to 30 September 2024 we have installed further EV chargers and a Tesla Powerwall Battery.

Our management team are continually looking for the whole company to be more environmentally friendly. We have reduced the size of our delivery trucks so they have less impact on the environment and structure delivery schedules to be as green and efficient as possible.

PEOPLE

We are a family run business and our history goes back to 1905. The company recognises that its people are central to its success. Experienced and dedicated staff deliver the high levels of service for which the business is known, supported by ongoing training and development.

The company also places strong emphasis on employee wellbeing and retention, ensuring a positive working environment that enables the team to thrive.

KEY PERFORMANCE INDICATORS

2024

2023

Turnover

£6.26m

£6.55m

Gross profit margin

42.26%

45.87%

Net profit margin

5.98%

12.52%

ON BEHALF OF THE BOARD:

L.D Stoller - Director

24 September 2025

The directors present their report with the financial statements of the company for the period 1 September 2023 to 30 September 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of furniture retailer.

DIVIDENDS

The total distribution of dividends for the period ended 30 September 2024 will be £ 250,000 .

FUTURE DEVELOPMENTS

The Directors are committed to growth in their industry sector. They continue their development in environmentally friendly alternative to help the become carbon neutral but to also drive this growth. The strive for a greener business pushes the Directors to maximize profitability.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

L.D Stoller

Mrs C M Stoller

FINANCIAL INSTRUMENTS

The company manages the liquidity and interest risks associated with the company's activities.

The company has various financial assets and liabilities such as trade debtors, customer deposits and trade creditors arising from its business activities.

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen in accordance with Companies Act 2006, s414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch 7 to be contained in the directors report. It has done so in respect of business relationship.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Momentum Taxation and Accountancy Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

L.D Stoller - Director

24 September 2025

Opinion

We have audited the financial statements of Stollers Furniture World Limited (the 'company') for the period ended 30 September 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the period then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. In particular, we looked at where management made subjective judgements, for example in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. We also considered potential financial or other pressures, opportunity and motivations for fraud. As part of this discussion we identified the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations and how management monitor these processes. Appropriate procedures included the review and testing of manual journals and key estimates and judgements made by management.Our tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management. We did not identify any key audit matters relating to irregularities, including fraud. We also addressed the risk of management override of internal controls including testing journals and evaluation whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. Our audit procedures were designed to respond to risks of material misstatement in the financial statements,recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery,misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the more remote that the non-compliances (eg with laws and regulations) are from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Peter Cartwright FCCA (Senior Statutory Auditor)

for and on behalf of Momentum Taxation and Accountancy Ltd

-Statutory Auditor

Harelands Courtyard Offices

Moor Road

Melsonby

Richmond

North Yorkshire

DL10 5NY

30 September 2025

TURNOVER

6,262,449

6,545,563

Cost of sales

3,615,701

3,543,237

GROSS PROFIT

2,646,748

3,002,326

Distribution costs

1,104,031

1,010,137

Administrative expenses

1,353,788

1,357,594

2,457,819

2,367,731

188,929

634,595

Other operating income

167,882

181,952

OPERATING PROFIT

4

356,811

816,547

Interest receivable and similar income

17,430

9,285

374,241

825,832

Interest payable and similar expenses

5

23

6,228

PROFIT BEFORE TAXATION

374,218

819,604

Tax on profit

6

77,733

198,719

PROFIT FOR THE FINANCIAL PERIOD

296,485

620,885

PROFIT FOR THE PERIOD

296,485

620,885

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

296,485

620,885

FIXED ASSETS

Tangible assets

8

3,123,074

3,039,574

CURRENT ASSETS

Stocks

9

899,688

981,477

Debtors

10

1,727,583

1,503,041

Cash at bank and in hand

573,016

1,053,273

3,200,287

3,537,791

CREDITORS

Amounts falling due within one year

11

2,582,908

2,889,726

NET CURRENT ASSETS

617,379

648,065

TOTAL ASSETS LESS CURRENT LIABILITIES

3,740,453

3,687,639

PROVISIONS FOR LIABILITIES

13

162,158

155,829

NET ASSETS

3,578,295

3,531,810

CAPITAL AND RESERVES

Called up share capital

14

2

2

Retained earnings

15

3,578,293

3,531,808

SHAREHOLDERS' FUNDS

3,578,295

3,531,810

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

L.D Stoller - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 September 2022

2

3,310,923

3,310,925

Changes in equity

Dividends

-

(400,000

)

(400,000

)

Total comprehensive income

-

620,885

620,885

Balance at 31 August 2023

2

3,531,808

3,531,810

Changes in equity

Dividends

-

(250,000

)

(250,000

)

Total comprehensive income

-

296,485

296,485

Balance at 30 September 2024

2

3,578,293

3,578,295

Cash flows from operating activities

Cash generated from operations

1

353,919

1,205,296

Interest paid

(23

)

(6,228

)

Tax paid

(192,295

)

(182,312

)

Net cash from operating activities

161,601

1,016,756

Cash flows from investing activities

Purchase of tangible fixed assets

(371,209

)

(242,319

)

Sale of tangible fixed assets

39,500

11,044

Interest received

17,430

9,285

Net cash from investing activities

(314,279

)

(221,990

)

Cash flows from financing activities

Loan repayments in year

-

(200,000

)

Intercompany account

(77,579

)

(249,010

)

Amount introduced by directors

-

286,568

Amount withdrawn by directors

-

(239,609

)

Equity dividends paid

(250,000

)

(400,000

)

Net cash from financing activities

(327,579

)

(802,051

)

Decrease in cash and cash equivalents

(480,257

)

(7,285

)

Cash and cash equivalents at beginning of period

2

1,053,273

1,060,558

Cash and cash equivalents at end of period

2

573,016

1,053,273

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

1/9/23

to

Year Ended

30/9/24

31/8/23

£

£

Profit before taxation

374,218

819,604

Depreciation charges

287,711

278,070

Profit on disposal of fixed assets

(39,500

)

(11,042

)

Finance costs

23

6,228

Finance income

(17,430

)

(9,285

)

605,022

1,083,575

Decrease in stocks

81,789

76,855

(Increase)/decrease in trade and other debtors

(146,965

)

343,655

Decrease in trade and other creditors

(185,927

)

(298,789

)

Cash generated from operations

353,919

1,205,296

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 30 September 2024

30/9/24

1/9/23

£

£

Cash and cash equivalents

573,016

1,053,273

Year ended 31 August 2023

31/8/23

1/9/22

£

£

Cash and cash equivalents

1,053,273

1,060,558

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/9/23

Cash flow

At 30/9/24

£

£

£

Net cash

Cash at bank and in hand

1,053,273

(480,257

)

573,016

1,053,273

(480,257

)

573,016

Total

1,053,273

(480,257

)

573,016

1.	STATUTORY INFORMATION

Stollers Furniture World 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The key assumptions concerning the future and other key sources of estimation uncertainty at the balance sheet date that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

The recoverability of trade and other receivables is regularly reviewed in the light of available economic information specific to each receivable and provisions are recognised for balances considered to be irrecoverable.

Estimates included within these financial statements include depreciation and asset impairments (for example provisions against stock). None of the estimates made in the preparation of these financial statements are considered to carry significant estimation uncertainty, nor bear significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Improvements to property

-

2% on cost

Plant and machinery

-

7.5% on cost

Fixtures and fittings

-

15% on cost, 7.5% on cost and 2% on cost

Motor vehicles

-

25% 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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all of the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation

Taxation for the period 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 period 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.

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

Period

1/9/23

to

Year Ended

30/9/24

31/8/23

£

£

Wages and salaries

1,527,761

1,561,964

Social security costs

2,805

2,398

Other pension costs

32,160

33,036

1,562,726

1,597,398

The average number of employees during the period was as follows:

Period

1/9/23

to

Year Ended

30/9/24

31/8/23

Directors

2

2

Weekly

55

61

Monthly

9

7

66

70

Period

1/9/23

to

Year Ended

30/9/24

31/8/23

£

£

Directors' remuneration

27,235

25,140

4.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period

1/9/23

to

Year Ended

30/9/24

31/8/23

£

£

Depreciation - owned assets

287,709

278,068

Profit on disposal of fixed assets

(39,500

)

(11,042

)

Auditors' remuneration

12,750

12,000

Foreign exchange differences

70

364

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1/9/23

to

Year Ended

30/9/24

31/8/23

£

£

Bank interest

-

299

Bank loan interest

-

4,802

Late payment interest

23

1,127

23

6,228

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the period was as follows:

Period

1/9/23

to

Year Ended

30/9/24

31/8/23

£

£

Current tax:

UK corporation tax

71,404

191,929

Deferred tax

6,329

6,790

Tax on profit

77,733

198,719