FINE FURNISHINGS (SUSSEX) LTD - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08767609 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

FINE FURNISHINGS (SUSSEX) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Walters

Mrs I Walters

REGISTERED OFFICE:

Unit 5, Lindfield Enterprise Park

Lewes Road

Lindfield

West Sussex

RH16 2LX

REGISTERED NUMBER:

08767609 (England and Wales)

ACCOUNTANTS:

Bentleys Accounting Limited

Suite 6, 141/143 South Road

Haywards Heath

West Sussex

RH16 4LZ

FIXED ASSETS

Tangible assets

4

2,789

8,485

CURRENT ASSETS

Stocks

8,250

7,750

Debtors

5

3,644

3,049

Cash at bank

95,602

71,797

107,496

82,596

CREDITORS

Amounts falling due within one year

6

64,102

58,037

NET CURRENT ASSETS

43,394

24,559

TOTAL ASSETS LESS CURRENT LIABILITIES

46,183

33,044

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

46,083

32,944

SHAREHOLDERS' FUNDS

46,183

33,044

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 on 30 October 2019 and were signed on its behalf by:

A Walters - Director

1.	STATUTORY INFORMATION

FINE FURNISHINGS (SUSSEX) LTD 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.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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 3 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2018

961

3,686

16,627

21,274

Disposals

-

-

(16,627

)

(16,627

)

At 31 March 2019

961

3,686

-

4,647

DEPRECIATION

At 1 April 2018

540

777

11,472

12,789

Charge for year

105

436

-

541

Eliminated on disposal

-

-

(11,472

)

(11,472

)

At 31 March 2019

645

1,213

-

1,858

NET BOOK VALUE

At 31 March 2019

316

2,473

-

2,789

At 31 March 2018

421

2,909

5,155

8,485

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

3,644

3,049

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

19,196

9,170

Tax

9,578

12,919

Social security and other taxes

-

2,233

VAT

25,014

23,292

Directors' current accounts

9,258

9,367

Accrued expenses

1,056

1,056

64,102

58,037