ACCOUNTS - Final Accounts

Commitments under operating leases

At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Registered number: 03452093

FURNITURE AVENUE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

FURNITURE AVENUE LIMITED

REGISTERED NUMBER: 03452093

BALANCE SHEET

AS AT 31 MARCH 2025

	2025	2025	2024	2024
Note	£	£	£	£


Current assets
Stocks		99,456		120,281
Debtors: amounts falling due within one year	5	15,341		-
Cash at bank and in hand	6	117,494		115,217
		232,291		235,498
Creditors: amounts falling due within one year	7	(55,689)		(54,480)
Net current assets			176,602		181,018

Net assets			176,602		181,018

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	175,602	180,018
	176,602	181,018

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FURNITURE AVENUE LIMITED

REGISTERED NUMBER: 03452093

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................ Colin David Jeffery	................................................ Christopher Dixon
Director	Director
................................................ David Peter West Director

Date: 31 October 2025

The notes on pages 3 to 7 form part of these financial statements.

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FURNITURE AVENUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Furniture Avenue Limited is a private limited company, incorporated in England and Wales.
The registered office is The Pinnacle, 150 Midsummer Boulevard, Milton Keynes, MK9 1LZ.
The principal place of business is Mile Road, Bedford, MK42 9TW.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Trade debtors at the balance sheet date represent unpaid sales invoices net of other deposits and invoices paid in full.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP rounded to the nearest £1.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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FURNITURE AVENUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Motor vehicles	-	25% per annum
				Fixtures and fittings	-	20% - 30% per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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FURNITURE AVENUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 7 (2024 - 7).

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FURNITURE AVENUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 April 2024	13,415
	At 31 March 2025	13,415
	Depreciation
	At 1 April 2024	13,415
	At 31 March 2025	13,415
	Net book value
	At 31 March 2025	-
	At 31 March 2024	-

Debtors

					2025	2024
					£	£


Other debtors	15,341	-

6.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	117,494	115,217

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FURNITURE AVENUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	39,351	40,585
Corporation tax	-	2,300
Other taxation and social security	14,238	9,495
Accruals and deferred income	2,100	2,100
	55,689	54,480

					2025	2024
					£	£

Other taxation and social security
VAT	14,238	9,495

8.	Pension commitments

The Company operated a defined contributions pension scheme. The assets of the scheme are held
seperately from those of the Company in an independently administered fund . The pension cost charge
represents contributions payable by the Company to the fund and amounted to £3,542 (2024: £3,062). Contributions totalling £nil (2024 - £nil) were payable to the fund at the balance sheet date.

Not later than 1 year	33,000	136,000
Later than 1 year and not later than 5 years	-	33,000
	33,000	169,000

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