Direct Furniture Suppliers Ltd

Direct Furniture Suppliers Ltd

DIRECT FURNITURE SUPPLIERS LTD - Company Information

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1 January 2020 false No description of principal activity Taxfiler 2021.7 07964118business:PrivateLimitedCompanyLtd2020-01-012020-12-31 079641182019-12-31 079641182020-01-012020-12-31 07964118business:AuditExempt-NoAccountantsReport2020-01-012020-12-31 07964118business:FullAccounts2020-01-012020-12-31 079641182020-12-31 07964118business:Director12020-01-012020-12-31 07964118business:CompanySecretary12020-01-012020-12-31 07964118business:RegisteredOffice2020-01-012020-12-31 079641182019-12-31 07964118core:WithinOneYear2020-12-31 07964118core:WithinOneYear2019-12-31 07964118core:ShareCapital2020-12-31 07964118core:ShareCapital2019-12-31 07964118core:RetainedEarningsAccumulatedLosses2020-12-31 07964118core:RetainedEarningsAccumulatedLosses2019-12-31 07964118business:SmallEntities2020-01-012020-12-31 07964118countries:EnglandWales2020-01-012020-12-31 07964118core:MotorVehicles2019-12-31 07964118core:FurnitureFittings2019-12-31 07964118core:MotorVehicles2020-01-012020-12-31 07964118core:FurnitureFittings2020-01-012020-12-31 07964118core:MotorVehicles2020-12-31 07964118core:FurnitureFittings2020-12-31 079641182019-01-012019-12-31 iso4217:GBP xbrli:pure
Company Registration No. 07964118 (England and Wales)
Direct Furniture Suppliers Ltd Unaudited accounts for the year ended 31 December 2020
Direct Furniture Suppliers Ltd Unaudited accounts Contents
Page
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Direct Furniture Suppliers Ltd Company Information for the year ended 31 December 2020
Director
Zuber Patel
Secretary
Farzana Patel
Company Number
07964118 (England and Wales)
Registered Office
Unit 2 Waterfall Mill Queen Victoria Street Blackburn Lancashire BB2 2QG
Accountants
AMS Accountants SBU Ltd Tadis House 455 Whalley New Road Blackburn Lancashire BB1 9SP
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Direct Furniture Suppliers Ltd Statement of financial position as at 31 December 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
101,544 
24,117 
Investments
5
45,289 
45,289 
146,833 
69,406 
Current assets
Inventories
255,333 
529,627 
Debtors
6
629,082 
271,390 
Cash at bank and in hand
1,077,588 
95,276 
1,962,003 
896,293 
Creditors: amounts falling due within one year
7
(926,217)
(547,764)
Net current assets
1,035,786 
348,529 
Net assets
1,182,619 
417,935 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,182,519 
417,835 
Shareholders' funds
1,182,619 
417,935 
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 May 2021 and were signed on its behalf by
Zuber Patel Director Company Registration No. 07964118
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Direct Furniture Suppliers Ltd Notes to the Accounts for the year ended 31 December 2020
1
Statutory information
Direct Furniture Suppliers Ltd is a private company, limited by shares, registered in England and Wales, registration number 07964118. The registered office is Unit 2 Waterfall Mill, Queen Victoria Street, Blackburn, Lancashire, BB2 2QG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2020
- 
58,411 
58,411 
Additions
106,082 
3,360 
109,442 
At 31 December 2020
106,082 
61,771 
167,853 
Depreciation
At 1 January 2020
- 
34,294 
34,294 
Charge for the year
26,520 
5,495 
32,015 
At 31 December 2020
26,520 
39,789 
66,309 
Net book value
At 31 December 2020
79,562 
21,982 
101,544 
At 31 December 2019
- 
24,117 
24,117 
5
Investments
Other investments 
£ 
Valuation at 1 January 2020
45,289 
Valuation at 31 December 2020
45,289 
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Direct Furniture Suppliers Ltd Notes to the Accounts for the year ended 31 December 2020
6
Debtors: amounts falling due within one year
2020 
2019 
£ 
£ 
Trade debtors
57,638 
11,775 
Amounts due from group undertakings etc.
505,120 
60,000 
Accrued income and prepayments
9,736 
15,545 
Other debtors
56,588 
184,070 
629,082 
271,390 
7
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
Bank loans and overdrafts
105,120 
79,125 
Trade creditors
153,679 
213,277 
Taxes and social security
541,573 
147,443 
Other creditors
73,856 
107,482 
Loans from directors
49,589 
437 
Accruals
2,400 
- 
926,217 
547,764 
8
Average number of employees
During the year the average number of employees was 11 (2019: 15).
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