PAPWORTH FURNITURE LIMITED

PAPWORTH FURNITURE LIMITED

PAPWORTH FURNITURE LIMITED - Company Information

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PAPWORTH FURNITURE LIMITED

Company Registration Number:
03145742 (England and Wales)

Unaudited abridged accounts for the year ended 31 January 2023

Period of accounts

Start date: 01 February 2022

End date: 31 January 2023

PAPWORTH FURNITURE LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2023

Balance sheet
Notes

PAPWORTH FURNITURE LIMITED

Balance sheet

As at 31 January 2023


Notes
2023
2022


£
£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 93,218 142,540
Investments:   0 0
Total fixed assets: 93,218 142,540
Current assets
Stocks: 186,278 256,742
Debtors:   685,548 631,863
Cash at bank and in hand: 148,406 171,709
Investments:   0 0
Total current assets: 1,020,232 1,060,314
Creditors: amounts falling due within one year:   (337,910) (306,051)
Net current assets (liabilities): 682,322 754,263
Total assets less current liabilities: 775,540 896,803
Creditors: amounts falling due after more than one year:   (231,393) (187,733)
Provision for liabilities: 0
Total net assets (liabilities): 544,147 709,070
Capital and reserves
Called up share capital: 47,000 47,000
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 28,000 28,000
Profit and loss account: 469,147 634,070
Shareholders funds: 544,147 709,070

The notes form part of these financial statements

PAPWORTH FURNITURE LIMITED

Balance sheet statements

For the year ending 31 January 2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 13 April 2023
and signed on behalf of the board by:

Name: L Tilley
Status: Director

The notes form part of these financial statements

PAPWORTH FURNITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied andservices rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership havetransferred to the buyer (usually on despatch of the goods); the amount of revenue can be measuredreliably; it is probable that the associated economic benefits will flow to the entity; and the costsincurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, overthe useful economic life of that asset as follows:Plant and machinery - Depreciated over 7 years less any potential residual balanceFittings fixtures and equipment - Depreciated over 12 months from month after purchaseMotor vehicles - Depreciated over 24 months from month after purchaseIf there is an indication that there has been a significant change in depreciation rate, useful life orresidual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

PAPWORTH FURNITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

2. Employees

2023 2022
Average number of employees during the period 17 16

PAPWORTH FURNITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

3. Tangible Assets

Total
Cost £
At 01 February 2022 841,855
Additions 0
Disposals 0
Revaluations 0
Transfers 0
At 31 January 2023 841,855
Depreciation
At 01 February 2022 699,315
Charge for year 49,322
On disposals 0
Other adjustments 0
At 31 January 2023 748,637
Net book value
At 31 January 2023 93,218
At 31 January 2022 142,540