Registration number: 05419699

Origin Furniture Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Origin Furniture Limited

Company Information

Directors

Nicholas James Pearson Giles McGill Pearson

Registered office

Bridgewater House Century House Caspian Road Altrincham Cheshire WA14 5HH

Bankers

HSBC Knutsford 19 Princess Street Knutsford Cheshire WA16 6BZ

Accountants

Matravers & Co Accountants & Business Advisers Bridgewater House Century Park, Caspian Road Altrincham Cheshire WA14 5HH

Origin Furniture Limited

(Registration number: 05419699)
Balance Sheet as at 31 October 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	187,995	237,411
Current assets
Stocks	5	322,134	287,888
Debtors	6	270,388	201,486
Cash at bank and in hand		874	21,127
		593,396	510,501
Creditors: Amounts falling due within one year	7	(564,292)	(392,895)
Net current assets		29,104	117,606
Total assets less current liabilities		217,099	355,017
Creditors: Amounts falling due after more than one year	7	(63,557)	(125,950)
Provisions for liabilities		(6,622)	(7,099)
Net assets		146,920	221,968
Capital and reserves
Called up share capital	8	1,070	1,070
Retained earnings		145,850	220,898
Shareholders' funds		146,920	221,968

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Origin Furniture Limited

(Registration number: 05419699)
Balance Sheet as at 31 October 2024

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 October 2025 and signed on its behalf by:
 

......................................... Nicholas James Pearson Director

Origin Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1	General information

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

The principal place of business is:
Unit 4-6 Hole House Farm
Wash Lane
Allostock
Knutsford
WA16 9JS

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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 deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Origin Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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:

Asset class	Depreciation method and rate
Plant & Equipment	25% reducing balance
Injection moulds	12.5% Straight line
Fitting fixtures and equipment	25% reducing balance
Motor Vehicles	25% reducing balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Origin Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 profit and loss account 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 6).

Origin Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Injection moulds £	Motor vehicles  £
Cost or valuation
At 1 November 2023	17,799	50,052	587,882	28,044
Additions	1,712	4,695	5,155	-
At 31 October 2024	19,511	54,747	593,037	28,044
Depreciation
At 1 November 2023	12,728	31,712	383,248	18,678
Charge for the year	2,311	5,367	47,692	5,608
At 31 October 2024	15,039	37,079	430,940	24,286
Carrying amount
At 31 October 2024	4,472	17,668	162,097	3,758
At 31 October 2023	5,071	18,340	204,634	9,366

	Total £
Cost or valuation
At 1 November 2023	683,777
Additions	11,562
At 31 October 2024	695,339
Depreciation
At 1 November 2023	446,366
Charge for the year	60,978
At 31 October 2024	507,344
Carrying amount
At 31 October 2024	187,995
At 31 October 2023	237,411

5

Stocks

	2024 £	2023 £
Other inventories	322,134	287,888

Origin Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Debtors

Current	2024 £	2023 £
Trade debtors	229,419	156,212
Prepayments	4,847	5,454
Other debtors	36,122	39,820
	270,388	201,486

Origin Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	263,491	176,688
Trade creditors		170,169	121,490
Taxation and social security		42,531	32,268
Accruals and deferred income		6,919	6,657
Other creditors		81,182	55,792
		564,292	392,895

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	9	63,557	125,950

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary A Shares of £1 each	1,000	1,000	1,000	1,000
Oridinaey B- H Shares of £1 each	70	70	70	70
	1,070	1,070	1,070	1,070

9	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	16,180	42,699
Other borrowings	47,377	83,251
	63,557	125,950

Current loans and borrowings

Origin Furniture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

	2024 £	2023 £
Bank borrowings	194,293	130,334
Bank overdrafts	22,843	-
Other borrowings	46,355	46,354
	263,491	176,688

10

Dividends

Interim dividends paid

		2024 £		2023 £
Interim dividend of £3,784.30 (2023 - £3,959.95) per each Ordinary		75,686		79,199

11	Parent and ultimate parent undertaking

The ultimate controlling party is N Pearson.