REGISTERED NUMBER: SC253135 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CHARLOTTE JAMES FURNITURE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

R Dempster

A Dempster

S Dempster

REGISTERED OFFICE:

7A Main Street

Pentland Industrial Estate

Edinburgh

EH20 9QR

REGISTERED NUMBER:

SC253135 (Scotland)

ACCOUNTANTS:

MacDonald Morton Ltd

Chartered Accountants

67 March Road

Edinburgh

EH4 3SU

FIXED ASSETS

Tangible assets

4

218,575

234,011

CURRENT ASSETS

Stocks

246,489

187,594

Debtors

5

45,898

38,037

Cash at bank and in hand

300,908

322,517

593,295

548,148

CREDITORS

Amounts falling due within one year

6

610,920

585,355

NET CURRENT LIABILITIES

(17,625

)

(37,207

)

TOTAL ASSETS LESS CURRENT LIABILITIES

200,950

196,804

CREDITORS

Amounts falling due after more than one year

7

(7,575

)

(25,757

)

PROVISIONS FOR LIABILITIES

(54,644

)

(58,503

)

NET ASSETS

138,731

112,544

CAPITAL AND RESERVES

Called up share capital

1,100

1,100

Share premium

2,400

2,400

Retained earnings

135,231

109,044

SHAREHOLDERS' FUNDS

138,731

112,544

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 directors acknowledge their 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 Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

R Dempster - Director

A Dempster - Director

1.	STATUTORY INFORMATION

Charlotte James Furniture Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Charlotte James Furniture Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

The directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Key accounting judgements include:

The Company undertakes manufacturing contracts which take place over a period of time and revenue and profits are recognised as the contracts progress. The extent to which the contract revenue and profits have been earned involve estimating a percentage of completion under ongoing contracts which is based on costs incurred as a proportion of total estimated costs. Management base this assessment on detailed costings and progress reports and their experience of similar contracts in the past. Adjustments are made to reflect any after date events which have a significant impact on the final outcomes expected to be achieved on contracts.

Turnover

Revenue comprises the fair value of the sale of goods and services, net of value added tax, rebates and discounts.

Sale of goods

Sales of goods are recognised when the company has delivered products to the customer, the customer has accepted the products and collectability of the related receivables is fairly assured.

Sale of services

Service revenues are recognised as those services are provided to customers.

Tangible fixed assets

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

Improvements to property

-

20% on cost

Plant and machinery

-

20% on reducing balance

Office equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Stocks

Raw material stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less selling costs.

Finished goods stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds the following basic financial instruments.

Financial assets

Cash and cash equivalents - comprise cash in hand and deposits held with banks.

Trade and other debtors - are initially measured at the undiscounted amounts receivable from a customer, which is normally the invoiced price. Trade and other debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found an impairment loss is recognised.

Financial liabilities

Trade and other creditors - are initially measured at the transaction price, including any transaction costs, and are subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount expected to be payable. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of the future payments, discounted at a market rate of interest.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

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 40 (2023 - 38 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Office

property

machinery

equipment

£

£

£

COST

At 1 January 2024

81,426

228,646

40,112

Additions

-

6,650

4,668

At 31 December 2024

81,426

235,296

44,780

DEPRECIATION

At 1 January 2024

30,509

148,767

30,298

Charge for year

6,299

16,366

2,471

At 31 December 2024

36,808

165,133

32,769

NET BOOK VALUE

At 31 December 2024

44,618

70,163

12,011

At 31 December 2023

50,917

79,879

9,814

Fixtures

Motor

and

vehicles

fittings

Totals

£

£

£

COST

At 1 January 2024

134,020

29,803

514,007

Additions

25,185

-

36,503

At 31 December 2024

159,205

29,803

550,510

DEPRECIATION

At 1 January 2024

45,042

25,380

279,996

Charge for year

25,918

885

51,939

At 31 December 2024

70,960

26,265

331,935

NET BOOK VALUE

At 31 December 2024

88,245

3,538

218,575

At 31 December 2023

88,978

4,423

234,011

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

9,354

160

Amounts owed by participating interests

-

2,000

Other debtors

36,544

35,877

45,898

38,037

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

18,183

18,182

Payments on account

280,402

266,255

Trade creditors

140,176

136,124

Amounts owed to group undertakings

24,000

4,921

Amounts owed to participating interests

4,000

-

Taxation and social security

110,572

118,303

Other creditors

33,587

41,570

610,920

585,355

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

7,575

25,757

8.	OTHER FINANCIAL COMMITMENTS

Total amount of financial commitments is £177,500 (2022: £266,250) in respect of rent for the company's premises.

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Charlotte James Holdings Ltd.